Flywheel Energy Storage System Market

A flywheel energy storage system (FESS) can be described as a mechanical battery that simply converts and stores the energy as kinetic energy until it is needed. The FESS is made up of a heavy rotating part, the flywheel, with an electric motor or generator. A flywheel is a heavy shaft-mounted rotating disc, which speeds up when electrical energy is applied to it. Flywheel energy storage 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. When energy is needed, the flywheel is slowed and the kinetic energy is converted back to electrical energy, and can be transmitted to where it is required. The electricity can be created from the spinning flywheel to help regulate supply in the electrical grid. The global market for flywheel energy storage system on the basis of application such as UPS, distributed energy generation, transport, data centers, and others.

To have an edge over the competition by knowing the market dynamics and current trends of “Flywheel Energy Storage System Market”, request for Sample Report here

Increasing electricity demand across the commercial sector, rising demand for continuous and clean electricity supply, and growing industry of energy storage are some of the factors driving the growth of the flywheel energy storage system market. Additionally, increasing demand of the flywheel energy storage system owing to its various advantages as compared to chemical batteries that includes longer life, the ability to work in extremely low temperatures, and high-power density of storing significant amount of energy in a short span of time is supporting the growth of the market.

Moreover, rapid industrialization, coupled with the rising global demand for uninterrupted power supply in factories and industries is further escalating the demand for the flywheels energy storage system. The system is increasingly used for grid balancing and providing power supply to islands and isolated grids. Furthermore, flywheels are highly used to replace the typical lead-acid batteries and to overcome the limitations of intermittent energy supplies, such as solar PV and wind turbines that do not produce 24/7 electricity. This is anticipated to further stimulate the growth and development of the flywheel energy storage system market. However, high storage cost associated with flywheel technology and fluctuation in raw material prices are some of the factors expected to hamper the growth of the market over the forecast period.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Based on the application, the market is segmented into UPS (Uninterrupted Power Supply), distributed energy generation, transport, data centres, and others. The UPS application segment is anticipated to grow at a higher CAGR over the forecast period owing to the growing commercial and industrial sectors, rising dependence on electronic equipment, along with the continuous demand of uninterrupted electricity supply to run electric devices and equipment. Additionally, flywheel UPS offers reliable power-backup, prevent any losses during frequent power outages across various facilities, prevent uncertain data losses, and protects the voltage sensitive device. All these factors are expected to contribute to the growth of the market.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Based on the region, North America is anticipated to dominate the flywheel energy storage system market primarily due to the presence of large industries and IT companies in the region, coupled with the demand of continuous power supply to run their data centres and other business operations. Moreover, rapid economic development, increased standard of living, and growing requirement of uninterrupted electricity supply are further supporting the market growth in the region. On the other hand, Asia-Pacific region is anticipated to witness a faster CAGR during the forecast period owing to increasing number of industries including automotive, aviation, food processing, and telecommunication among others and high demand of electric power supply in these industries. The rise in per capita disposable incomes in developing countries including China, Japan, India, and South Korea, frequent power cuts, along with the increasing demand for power backups are further propelling the demand of flywheel energy storage systems, thereby, driving the growth of the market in the region.

Various notable players operating in the global Flywheel Energy Storage System market include Langley Holdings Plc, Beacon Power, LLC, Amber Kinetics, Inc., Calnetix Technologies, LLC, Schwungrad Energie Ltd., Phillips Service Industries, Inc., VYCON, STORNETIC GmbH, Energiestro, and OXTO Energy, among others. 

Key Developments:

• • In 2019, VYCON, a designer and manufacturer of high-speed energy storage flywheel systems, announced the addition of the VDC-XXT flywheel model to its VDC line of clean energy storage solutions. The VDC-XXT flywheel model is paired with three-phase uninterruptible power supplies (UPS) for 24/7 power protection. VYCON’s VDC-XXT offers a greener, cost-saving solution compared to UPSs that are using lead-acid or lithium-ion batteries. This expansion helps in enhancing the product portfolio of the company in the market.
  • In 2019, NRStor Inc., a developer of energy storage projects, acquired a 5MW connected energy storage facility, in Clear Creek, Ontario. The Clear Creek facility was originally built by Temporal Power for showcasing the flywheel energy storage technology. With this acquisition, NRStor aimed to expand its flywheel energy storage portfolio in the market.

The global Flywheel Energy Storage System market has been segmented on the basis of application and region. Based on slope type, the market is segmented into steep-slope roofs and low-slope roofs. Based on the application, the market is segmented into UPS (Uninterrupted Power Supply), distributed energy generation, transport, data centres, and others.

For detailed scope of the “Flywheel Energy Storage System Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global Flywheel Energy Storage System market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in Flywheel Energy Storage System market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global Flywheel Energy Storage System market?
  • Which application generated maximum revenues in 2019 and identify the most promising application during the forecast period?
  • What are the various applications of global Flywheel Energy Storage System market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Flywheel Energy Storage System Market by Application

• • UPS
  • Distributed Energy Generation
  • Transport
  • Data Centres
  • Others

Global Flywheel Energy Storage System Market by Region

• • North America Flywheel Energy Storage Systems Market (Option 1: As a part of the free 25% customization)
    • North America Market by Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Flywheel Energy Storage Systems Market (Option 2: As a part of the free 25% customization)
    • Europe Market by Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Flywheel Energy Storage Systems Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Market by Application
    • China System Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Flywheel Energy Storage Systems Market (Option 4: As a part of the free 25% customization)
    • RoW Market by Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Flywheel Energy Storage System Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Langley Holdings Plc
  • Beacon Power, LLC
  • Amber Kinetics, Inc.
  • Calnetix Technologies, LLC
  • Schwungrad Energie Ltd.
  • Phillips Service Industries, Inc.
  • VYCON
  • STORNETIC GmbH
  • Energiestro
  • OXTO Energy