Flywheel Energy Storage System Market size is expected to reach USD 737.99 million by 2030

Flywheel Energy Storage System Industry Overview

The global flywheel energy storage system market size was valued at USD 326.43 Million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030.

Growing energy storage market and automobile industry, globally, has provided a boost to the market. Increasing demand from UPS and data center application segments has driven the market for flywheel energy storage systems, within this region. Similarly, distributed energy generation, which involves generation of power at the place of consumption, is expected to result in augmented demand for the flywheel energy storage systems, within this region.

Gather more insights about the market drivers, restrains and growth of the Global Flywheel Energy Storage System Market

The U.S. held the largest share among all countries in the North American flywheel energy storage market, in 2021. The Energy Storage Association (ESA) looks after the energy storage affairs in this country. Problems arising due to the interruptions and fluctuations of power supply have resulted in an increase in demand for UPS systems from the commercial sector in the U.S. This has resulted in enhancing the market for UPS systems within the country.

Industrial standards and compliances are the critical references used in the design, testing, installation, manufacture, and maintenance of flywheel power systems. Following the guidelines, set forth by industrial standards and regulations ensures compliance, minimalist’s liability, and collectively lowers overall cost by eliminating wasted time and effort to develop high-quality flywheel energy storage systems.

The flywheel energy storage systems market in the U.S. is growing in accordance with the growing energy storage market in this country. Li-ion and lead-acid batteries are the most commonly used energy storage systems here. However, advantages of flywheel energy storage systems such as higher efficiency and longer life are projected to increase the demand for flywheel energy storage systems, within the country.

Browse through Grand View Research's Conventional Energy Industry Research Reports.

  • Gas Turbine Market: The global gas turbine market size was valued at USD 22.17 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030.
  • Lithium-ion Battery Market: The global lithium-ion battery market size was valued at USD 41.97 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 18.1% from 2022 to 2030.

 

Flywheel Energy Storage Systems Market Segmentation

Grand View Research has segmented the global flywheel energy storage system market on the basis of application and region:

  • Flywheel Energy Storage System Application Outlook (Power Capacity, kW; Revenue, USD Million, 2016 - 2027)
    • UPS
    • Distributed Energy Generation
    • Transport
    • Data centers
    • Others
  • Flywheel Energy Storage System Regional Outlook (Power Capacity, kW; Revenue, USD Million, 2016 - 2027)
    • North America
    • Europe
    • Asia Pacific
    • Central & South America
    • Middle East & Africa (MEA)

Market Share Insights

  • May 2018: The largest pure-play operator of energy storage in North America, announced the acquisition of 40 MW of flywheel projects in Stephentown, NY and Hazle Township, PA.

 

Key Companies profiled:

Some of the prominent market players in the flywheel energy storage system market include:

  • Active Power
  • Beacon Power, LLC
  • Amber Kinetics, Inc.
  • Calnetix Technologies, LLC.,
  • Piller Group GmbH

 

Order a free sample PDF of the Flywheel Energy Storage System Market Intelligence Study, published by Grand View Research.

 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

 

 

 

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