Flywheel Energy Storage Market By Type (Steel Rims and Composite Rims), By Application (Uninterrupted Power Supply (UPS), Distributed Energy Generation, Data Centers, and Others (Transportation, Spacecraft, and Military)), and By Region - Trends, Analysis, and Forecast till 2030

Flywheel Energy Storage Market accounted for USD 343.2 Million in 2020 and is estimated to be USD 700.87 Million by 2030 and is anticipated to register a CAGR of 7.5%.

Flywheel energy storage system is a mechanical device which is used to converts and stores energy. Energy is produced by rotating flywheel at high operational speed. Flywheel energy storage system include flywheel, motor/generator, power electronics, magnetic bearings, and external inductor. FES is widely preferred in many end-use applications such as transportation, aircraft launching system, wind turbines, toys, etc. It uses electric motors to drive the flywheel to rotate at a high speed so that the electrical power is transformed into mechanical power and stored, and when necessary, flywheels drive generators to generate power. It operates in a high vacuum environment. It stores the energy in the form of kinetic energy and works by accelerating a rotor to very high speeds and maintaining the energy in the form of rotational energy inside the system. It is capable of generating several mW of power, it is suited to produce high power outputs of 100 kW to 2mW in 12-60 sec.

Rising demand of renewable and clean energy

Increasing adaptation of flywheel energy storage system as renewable energy source is a major factor driving growth of the global flywheel energy storage market. In addition, increasing automobile sector and use of flywheel energy storage system applications over conventional energy source are propelling growth of the global flywheel energy storage system market. Furthermore, rising demand for flywheel energy storage system by end use industries, owing to low maintenance cost, short recharge time, and longer lifespan are factors anticipated to fuel growth of the global flywheel energy storage market in near future. Moreover, government initiatives to promote advanced energy storage is supporting growth of the global flywheel energy storage market over forecast period.

However, lack of awareness regarding benefits of flywheel energy storage can hamper growth of the global flywheel energy storage market up to certain extents in near future. Increasing application of flywheel energy storage system in cloud-base data centers and exploding electrical vehicle sector are expected to create lucrative opportunity for players operating in the global flywheel energy storage market.

The global flywheel energy storage market is segmented based on type, application, and region.

On the basis of type, the target market is classified into steel rims and composite rims. On the basis of application, the target market is bifurcated into uninterrupted power supply (UPS), distributed energy generation, data centers, and others. Others include transportation, spacecraft, and military.

Regional Insights:

On region the global flywheel energy storage market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America flywheel energy storage market is accounted for major revenue share in global flywheel energy storage market, followed by other regions. This is attributed to increasing internet of things (IoT) and rising data centers, which ultimately increases the use of flywheel energy storage system in the countries of the North America region. Europe flywheel energy storage market accounted for second-highest market share, owing to rising energy demand from automotive sector in the European countries. Asia Pacific flywheel energy storage market is expected to grow at the highest rate during the forecast period. This is owing to growing industrialization, rapid upgradation in old power grid, and increasing population in flywheel energy storage technology in countries of the Asia Pacific region.

Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global flywheel energy storage market report based on type, application, and region.

Global Flywheel Energy Storage Market, By Region:

• North America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • U.S.
  • Canada

The key players operating in the global flywheel energy storage market includes EnSync, Inc., Beacon Power, LLC, Calnetix Technologies, LLC, VYCON, Inc., Temporal Power, Ltd., Pentadyne Power Corporation, Piller Group GmbH, STORNETIC GmbH, GKN Hybrid Power Limited, and Alstom Transport SA. Technological

VYCON Inc:

They have announced the addition of the VDC-XXT flywheel model to its VDC line of clean energy storage solutions. This will ensure 24/7 power protection. It is equipped with 3 phase UPS and brings DC power capacity using the kinetic energy of the flywheel for power backup.

• EnSync Inc.
• Beacon Power, LLC
• Calnetix Technologies, LLC
• VYCON, Inc.
• Temporal Power, Ltd.
• Pentadyne Power Corporation
• Piller Group GmbH
• STORNETIC GmbH
• GKN Hybrid Power Limited
• Alstom Transport SA.