Flywheel Energy Storage System Market: Industry Analysis and Forecast (2021-2027) by Application, and Region

The Flywheel Energy Storage System Market is expected to reach US $469.30 million by 2027, thanks to growth in the Application segment. The report analyzes market dynamics by region and end-user industries.

Flywheel Energy Storage System Market Overview:

The Flywheel Energy Storage System Market was valued at US $303.75 Mn. in 2020, and it is expected to reach US $469.30 Mn. by 2027 with a CAGR of 7.52% during the forecast period. Flywheel energy storage (FES) systems operate by spinning a flywheel at a high frequency and storing energy in the form of rotary energy in the device. When the energy is captured, the fly-rotational wheel's speed is reduced as a result of the energy savings principle; adding more power to the device causes the fly-wheel speed to increase. The modern FES systems are generally made up of composites of high-performance carbon-fiber rotors suspended by magnet bearings and rotating at speeds ranging from 20,000 to over 50,000 rpm in a vacuum environment. These flywheels can reach their energy capacity significantly faster than any other form of storage, in a couple of minutes. A flywheel is supported by a motor-generator rolling element bearing in a typical setup. To reduce friction and energy loss, the float wheel and often the engine generator are placed in a vacuum chamber. The first generation of flywheel energy storage systems features a large steel flywheel rotating on mechanical lockers. Flywheel Energy Storage System Market To know about the Research Methodology :- Request Free Sample Report 2020 is considered as a base year to forecast the market from 2021 to 2027. 2020’s market size is estimated based on real numbers and outputs of the key players and major players across the globe. The past five years trends are considered while forecasting the market through 2027. 2020 is a year of exception and is analyzed especially with the impact of lockdown by region.

COVID–19 Influence on Flywheel Energy Storage System Market:

The COVID-19 pandemic had a significant impact on the global economy as well as public health. It caused chaos in the economy, and not a single country was protected. Businesses all over the world have been driven to adjust their ways as a result of the virus. The report gives more details about the influence of each region, allowing users to plan their actions and take substantial steps toward recovery after an epidemic.

Key Trends:

Flywheel implementation for military operations. Flywheels are in high demand for military operations and ground vehicles, as well as weapons, navigation, communications, and their associated intelligence systems. Vehicles, systems, and many sorts of weapons in the military all require energy to function properly. Flywheels appear to be an appropriate energy storage method in this case. Also, a flywheel energy storage technology increases system stability and improves current absorption in power systems. As a result, the market for flywheel energy storage systems is dominated by the electrification of military systems.

Flywheel Energy Storage System Market Dynamics:

The demand for a reliable and clean electrical source is growing. Over the forecast period, the market is expected to be driven by rising demand for energy storage systems across various industries, as well as the implementation of favorable regulatory policies surrounding clean power generation and lowering reliance on fossil-fuel-based power sources. Flywheel is a stable energy storage solution in developing countries with unreliable grid infrastructure and high electricity bills, as well as on islands where grids rely on biofuels and diesel generators. Flywheel storage is used in combination with renewable wind and solar power in remote locations, eliminating the inconsistent nature of renewable energy while delivering a constant power supply to the grid or other facilities. High cost & limited duration. When it comes to storing energy, the technology has significant advantages over batteries. Unlimited daily cycle capacity, no chemical reaction, no capacity degradation, and great round-trip efficiency are the benefits of the FES system. However, factors such as the high cost and short lifespan of flywheel power are likely to hamper market growth throughout the forecast period. Enormous R&D investments. Industry players are investing extensively in research and development to find a solution to technology's high maintenance costs. Manufacturers are concentrating on improving the geometry and metallurgical qualities of flywheel rotors, as well as the chemical composition and refinement of low-carbon steel alloy processes. Thus, it is likely to present lucrative growth opportunities for the market during the forecast period.

Flywheel Energy Storage System Market Segment Analysis:

Based on Application, the Flywheel Energy Storage System Market is segmented into six types as follows, Uninterruptible Power Supply (UPS), Distributed Energy Generation (DEG), Automotive, Data Center, Defense, and Aerospace. In 2020, the UPS segment was dominant and held the largest market share of xx% of the overall market share and the segment is expected to experience significant growth over the forecast period. This is mostly related to an increase in demand for a continuous electricity supply across all industries to operate electrical devices and equipment without interruption. Furthermore, UPSs are in high demand thanks to the growing need for adequate power backup solutions, particularly in developing nations where power outages are common. The data center segment held a considerable market share of xx%. Furthermore, the segment is expected to maintain its dominance over the forecast period. This is expected to be related to the rapid deployment of flywheels by huge IT organizations, such as Google, at their massive data centers, the number of which is growing. Flywheels offer instant electricity to connected systems in the case of a transient power interruption, giving backup generators time to start. Flywheel Energy Storage System Market 1

Flywheel Energy Storage System Market Regional Insights:

In 2020, North America was the dominant region and held the highest share 78% of the Market. In terms of revenue and power capacity, it is the largest market for flywheel energy storage systems, with the United States accounting for the majority of regional market share. Flywheels are used in combination with renewable energy sources in the United States to provide storage capacity and balance the inconsistent nature of renewables. Also, power generation accounts for around 40% of carbon emissions in the United States. As a result, renewable technologies like flywheel energy generation and storage are expected to effectively reduce carbon emissions. In terms of capacity, Europe was the second-largest regional segment in 2020 and is expected to rise significantly throughout the forecast period. Government programmes that promote clean energy generation and storage have given the market a significant uplift. Flywheel technology is used in a range of applications in the United Kingdom, Germany, and France. The Asia Pacific market is likely to grow because of frequent power disruptions in developing economies such as China and India. Flywheels have a long lifespan and are unaffected by the number of charge cycles. These properties make it a reliable energy storage solution for a variety of end-use applications, including Asia Pacific economies' ever-growing industrial and commercial sectors. Increasing demand for distributed power generation, combined with rising renewable energy adoption in various Asia Pacific countries is expected to accelerate regional market growth. Operators store excess renewable energy in flywheel systems and use it for local power generation and grid power supply during peak demand periods.

Recent Advancements:

• In January 2019, The VDC-XXT flywheel model has been added to VYCON's VDC line of clean energy storage solutions. VYCON is a high-speed energy storage flywheel system creator and producer. For 24/7 power protection, the VDC-XXT flywheel is combined with three-phase uninterruptible power supplies (UPS). In comparison to UPSs that use lead-acid or lithium-ion batteries, VYCON's VDC-XXT provides a more environmentally friendly and cost-effective alternative. This expansion contributes to the company's product portfolio in the market. • In April 2019, in Clear Creek, Ontario, NRStor Inc., a developer of energy storage projects, purchased a 5MW linked energy storage facility. Temporal Power created the Clear Creek plant to demonstrate flywheel energy storage technology. NRStor planned to increase its flywheel energy storage offering in the market with this acquisition. The objective of the report is to present a comprehensive analysis of the Flywheel Energy Storage System Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Flywheel Energy Storage System Market dynamics, structure by analyzing the market segments and project the Flywheel Energy Storage System Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Flywheel Energy Storage System Market make the report investor’s guide.

Flywheel Energy Storage System Market Scope: Inquire before buying

Flywheel Energy Storage System Market 3

Flywheel Energy Storage System Market, by Region

• North America • Europe • Asia Pacific • The Middle East and Africa • South America

Flywheel Energy Storage System Market Key Players

Active Power • Amber Kinetics Inc. • Beacon Power LLC. • Calnetix Technologies, LLC. • Piller Group GmbH • Powerthru • Vycon, Inc. • Stornetic GmbH • Energiestro • Oxto Energy • Langley Holding PLC • Schwungrad Energie Ltd. • Phillips Service Industries Inc. • Kinetic Traction Systems • Beijing Qifeng • Punch Flybrid • BC New Energy • Others

Frequently Asked Questions:

1. What is the forecast period considered for the Flywheel Energy Storage System market report? Ans. The considered forecast period for the flywheel energy storage system market is 2021-2027. 2. Which key factors are hindering the growth of the Flywheel Energy Storage System market? Ans. The safety issues related to flywheel energy-storing is the key factor expected to hinder the growth of the flywheel energy storage system market over the forecast period. 3. What is the compound annual growth rate (CAGR) of the Flywheel Energy Storage System market for the next 6 years? Ans. The Flywheel Energy Storage System Market is expected to grow at a CAGR of 7.52% during the forecast period (2021-2027). 4. What are the key factors driving the growth of the Flywheel Energy Storage System market? Ans. The rising demand for energy storage systems across various industries, as well as the implementation of favorable regulatory policies surrounding clean power generation and lowering reliance on fossil-fuel-based power sources, are the factors expected to drive the growth of the market during the forecast period. 5. Which are the worldwide major key players covered in the Flywheel Energy Storage System market report? Ans. Active Power, Amber Kinetics Inc., Beacon Power LLC, Calnetix Technologies, LLC., Piller Group GmbH, Powerthru, Vycon, Inc., Stornetic GmbH, Energiestro, Oxto Energy, Langley Holding PLC, Schwungrad Energie Ltd., Phillips Service Industries Inc., Kinetic Traction Systems, Beijing Qifeng, Punch Flybrid, BC New Energy, and Others.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Flywheel Energy Storage System Market Size, by Market Value (US $Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2020 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the flywheel energy storage system market 3.4. Geographical Snapshot of the flywheel energy storage system market, By Manufacturer share 4. Flywheel Energy Storage System Market Overview, 2020-2027 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porter Five Forces Analysis 4.1.6.1. The threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Flywheel Energy Storage System Market 5. Supply Side and Demand Side Indicators 6. Flywheel Energy Storage System Market Analysis and Forecast, 2020-2027 6.1. Global Flywheel Energy Storage System Products Market Size & Y-o-Y Growth Analysis. 7. Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 7.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 7.1.1. Uninterruptible Power Supply (UPS) 7.1.2. Distributed Energy Generation (DEG) 7.1.3. Automotive 7.1.4. Data Center 7.1.5. Defense 7.1.6. Aerospace 8. Flywheel Energy Storage System Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2020-2027 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 9.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 9.1.1. Uninterruptible Power Supply (UPS) 9.1.2. Distributed Energy Generation (DEG) 9.1.3. Automotive 9.1.4. Data Center 9.1.5. Defense 9.1.6. Aerospace 10. North America Flywheel Energy Storage System Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 11.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 12. Canada Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 12.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 13. Mexico Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 13.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 14. Europe Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 14.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 15. Europe Flywheel Energy Storage System Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 16.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 17. France Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 17.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 18. Germany Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 18.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 19. Italy Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 19.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 20. Spain Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 20.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 21. Sweden Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 21.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 22. CIS Countries Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 22.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 23. Rest of Europe Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 23.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 24. Asia Pacific Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 24.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 25. Asia Pacific Flywheel Energy Storage System Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2020-2027 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 26.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 27. India Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 27.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 28. Japan Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 28.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 29. South Korea Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 29.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 30. Australia Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 30.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 31. ASEAN Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 31.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 32. Rest of Asia Pacific Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 32.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 33. Middle East Africa Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 33.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 34. Middle East Africa Flywheel Energy Storage System Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 35.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 36. GCC Countries Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 36.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 37. Egypt Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 37.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 38. Nigeria Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 38.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 39. Rest of ME&A Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 39.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 40. South America Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 40.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 41. South America Flywheel Energy Storage System Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2020-2027 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 42.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 43. Argentina Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 43.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 44. Rest of South America Flywheel Energy Storage System Market Analysis and Forecasts, 2020-2027 44.1. Market Size (Value) Estimates & Forecast By Application, 2020-2027 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Flywheel Energy Storage System Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Application, and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment, and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures, and Strategic Alliances/ Sales Agreements 45.3. Company Profile: Key Players 45.3.1. Active Power 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Amber Kinetics Inc. 45.3.3. Beacon Power LLC. 45.3.4. Calnetix Technologies Inc. 45.3.5. Piller Group GmbH 45.3.6. Powerthru 45.3.7. Vycon Inc. 45.3.8. Stornetic GmbH 45.3.9. Energiestro 45.3.10. Oxto Energy 45.3.11. Langley Holding PLC 45.3.12. Schwungrad Energie Ltd. 45.3.13. Phillips Service Industries Inc. 45.3.14. Kinetic Traction Systems 45.3.15. Beijing Qifeng 45.3.16. Punch Flybrid 45.3.17. BC New Energy 45.3.18. Others 46. Primary Key Insights

About This Report

Report ID 122077
Category Material & Chemical
Published Date Oct 2021
Updated Date
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