The global flywheel energy storage market size is anticipated to be valued at USD 479.3 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.9% during the forecast period. Growing energy storage and automobile industries is expected to drive this growth.
Flywheel system accumulate energy and use it to deliver continuous power output where energy source is not continuous. In this system, electric energy can be generated by spinning the flywheel, which makes it an ideal solution in regulating supply. As compared to a solar photovoltaic cell or wind turbine, flywheels can produce energy throughout the day.
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On the basis of application, the market is segmented into UPS, distributed energy generation, transport, data centers, and others. Data center is the largest application segment due to the growing demand for energy storage devices to overcome the risk of interruptions at the main power supply. The segment held around 44.0% of the global market share in 2018 and is expected to grow significantly over the forecast period.
High power density, long life cycle, and no degradation over time are some of the properties that work in favor of flywheel energy storage systems in vehicles. Growing automobile and transport industries are expected to drive this market over the forecast period. Transport segment is projected to register a CAGR of 10.6% over the forecast period.
Growing demand for Uninterruptible Power Supply (UPS) from end-use industries is expected to have a positive impact on the market growth. The market is consolidated with the presence of many small- and large-scale manufacturers. These players adopt strategies such as mergers and acquisitions, expansions, new product developments, along with joint ventures and collaborations, to increase their market share.
Key suggestions from the report:
- U.S. is projected to expand at a CAGR of 9.6% in terms of revenue over the forecast period. U.S. is among the largest consumers of the market. Problems arising due to interruptions and fluctuations of power supply have resulted in increasing demand for UPS systems from the commercial sector of the country
- Germany, in terms of revenue, is projected to grow over USD 20.05 million by 2025. This growth can be attributed to rising demand from the automobile industry
- Japan is anticipated to reach USD 2.04 million in 2025, driven by growing demand from the transport and energy storage sectors
- Key players operating in the global flywheel energy storage market are Rotonix USA, Inc.; Calnetix Technologies, LLC; VYCON, Inc.; Powerthru; Amber Kinetics, Inc.; Active Power; Beacon Power, LLC; Piller Group GmbH; Power Tree; Temporal Power Ltd.; and Pentadyne Power Corporation.
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Grand View Research has segmented the global flywheel energy storage market on the basis of application and region:
Flywheel Energy Storage Application Outlook (Capacity, KW; Revenue, USD Thousand, 2015 – 2025)
- Uninterruptible Power Supply (UPS)
- Distributed Energy Generation
- Transport
- Data Centers
- Others
Flywheel Energy Storage Regional Outlook (Capacity, KW; Revenue, USD Thousand, 2015 – 2025)
- North America
- U.S.
- Europe
- Germany
- U.K.
- Asia Pacific
- South Korea
- Japan
- Central & South America
- Brazil
- Middle East and Africa
Find more research reports on Power Generation & Storage Industry, by Grand View Research:
Energy Storage Systems Market – The global energy storage systems market recorded a demand of 176,897.6 MW in 2017.
Advanced Energy Storage Systems Market – The global advanced energy storage systems market size was worth USD 1.91 billion in 2014.
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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