Global Flywheel Energy Storage Market Overview
Introduction:
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. The global flywheel energy storage market accounted for US$ 343.2 million in 2020 and is estimated to be US$ 700.87 million by 2030 and is anticipated to register a CAGR of 7.5%.
Global Flywheel Energy Storage Market Dynamics
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.
Global Flywheel Energy Storage Market Segmentation
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report
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:
The global flywheel energy storage market accounted for US$ 343.2 million in 2020 and is estimated to be US$ 700.87 million by 2030 and is anticipated to register a CAGR of 7.5%. 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:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2030 |
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Market Segmentation |
By Type- Steel Rims and Composite Rims By Application– Uninterrupted Power Supply (UPS), Distributed Energy Generation, Data Centers, and Others (Transportation, Spacecraft, and Military) |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
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:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Flywheel Energy Storage Market Key Players
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.
Global Flywheel Energy Storage Market Company Profile
- EnSync Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Beacon Power, LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Calnetix Technologies, LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- VYCON, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Temporal Power, Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Pentadyne Power Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Piller Group GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- STORNETIC GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- GKN Hybrid Power Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Alstom Transport SA.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Flywheel Energy Storage Market Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Region
- Opportunity Map Analysis
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- Impact Analysis
- PEST Analysis
- Porter’s Analysis
- Market Dynamics
- Global Flywheel Energy Storage Market, By Type, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Steel Rims
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Composite Rims
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Flywheel Energy Storage Market, By Application, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Segment Trends
- Uninterrupted Power Supply (UPS)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Distributed Energy Generation
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Data Centers
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2019 – 2029
- Overview
- Global Flywheel Energy Storage Market, By Region, 2019 – 2029, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2019 — 2029
- Y-o-Y Growth Analysis (%), 2019 – 2029
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Type, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Application, 2019 – 2029
- Market Size and Forecast (US$ Mn), By Country, 2019 – 2029
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Overview
- Competitive Landscape
- Heat Map Analysis
- Company Profiles
- EnSync, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Beacon Power, LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Calnetix Technologies, LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Temporal Power, Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Pentadyne Power Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Piller Group GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- STORNETIC GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- GKN Hybrid Power Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Alstom Transport SA.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- EnSync, Inc.
- Analyst Views
- Section
- Research Methodology
- About Us
- Contact
FAQs
The Global Flywheel Energy Storage market is segmented into basis of type, application, and region.
Increasing automobile sector and use of flywheel energy storage system application over conventional energy source is a factor propelling growth of the global flywheel energy storage system market.
By region, North America flywheel energy storage market accounted for major revenue share of the global flywheel energy storage market and is further anticipated to maintain its dominance over the forecast period.
The Key players operating in the global Flywheel Energy Storage market include 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..