Flywheel Energy Storage Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027
The global flywheel energy storage market reached a value of US$ 273 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 435.3 Million by 2027, exhibiting a CAGR of 8.4% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Flywheel energy storage is the process of storing energy by accelerating rotors at high speed while maintaining it in the system as rotational energy. This process draws power from the system, on command, by tapping into the spinning rotor, which functions as a generator. It consists of a mechanical battery with a mass that rotates around an axis. Flywheel energy storage technology is emerging as a preferable alternative to conventional lead-acid batteries. It operates in a high vacuum environment and uses electrical motors to transform electrical power into mechanical power. The flywheel system is utilized in power grid frequency modulation as it offers low friction, moderate wind-resistance, a long life span, environmental safety, and requires no maintenance.
Flywheel Energy Storage Market Trends:
The global flywheel energy storage market is primarily driven by its application across different industries such as automotive, transmission and distribution and information technology (IT). They are used in transportation and space applications for transferring energy and stabilizing or driving satellites. Besides this, the increasing need for uninterrupted and clean electricity supply in various end use sectors is fueling the energy storage industry. In line with this, governments across the world are taking initiatives to facilitate the generation of clean power, which is positively influencing the market growth. Besides this, flywheel energy storage is also used for grid balancing, renewable integration, and providing power supply to islands and isolated grids. Furthermore, research and development (R&D) activities and innovations, such as the use of electrical machines, magnetic bearings, and high-strength composite materials obtained from carbon fibers in flywheel energy storage systems, are bolstering the demand for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global flywheel energy storage market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on application.
Breakup by Application:
Uninterruptible Power Supply (UPS)
Distributed Energy Generation
Transport
Data Centers
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd, Adaptive Balancing Power GmbH, Amber Kinetics Inc., Beacon Power LLC, Calnetix Technologies LLC, Energiestro, Langley Holdings plc, Oxto Energy, Phillips Service Industries Inc., Schwungrad Energie Limited, Siemens Aktiengesellschaft, Stornetic GmbH and Teraloop Oy.
Key Questions Answered in This Report:
How has the global flywheel energy storage market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global flywheel energy storage market?
What are the key regional markets?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global flywheel energy storage market and who are the key players?
What is the degree of competition in the industry?
- 1 Preface
- 2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
- 3 Executive Summary
- 4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
- 5 Global Flywheel Energy Storage Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
- 6 Market Breakup by Application
- 6.1 Uninterruptible Power Supply (UPS)
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Distributed Energy Generation
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Transport
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Data Centers
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Others
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 7 Market Breakup by Region
- 7.1 North America
- 7.1.1 United States
- 7.1.1.1 Market Trends
- 7.1.1.2 Market Forecast
- 7.1.2 Canada
- 7.1.2.1 Market Trends
- 7.1.2.2 Market Forecast
- 7.2 Asia-Pacific
- 7.2.1 China
- 7.2.1.1 Market Trends
- 7.2.1.2 Market Forecast
- 7.2.2 Japan
- 7.2.2.1 Market Trends
- 7.2.2.2 Market Forecast
- 7.2.3 India
- 7.2.3.1 Market Trends
- 7.2.3.2 Market Forecast
- 7.2.4 South Korea
- 7.2.4.1 Market Trends
- 7.2.4.2 Market Forecast
- 7.2.5 Australia
- 7.2.5.1 Market Trends
- 7.2.5.2 Market Forecast
- 7.2.6 Indonesia
- 7.2.6.1 Market Trends
- 7.2.6.2 Market Forecast
- 7.2.7 Others
- 7.2.7.1 Market Trends
- 7.2.7.2 Market Forecast
- 7.3 Europe
- 7.3.1 Germany
- 7.3.1.1 Market Trends
- 7.3.1.2 Market Forecast
- 7.3.2 France
- 7.3.2.1 Market Trends
- 7.3.2.2 Market Forecast
- 7.3.3 United Kingdom
- 7.3.3.1 Market Trends
- 7.3.3.2 Market Forecast
- 7.3.4 Italy
- 7.3.4.1 Market Trends
- 7.3.4.2 Market Forecast
- 7.3.5 Spain
- 7.3.5.1 Market Trends
- 7.3.5.2 Market Forecast
- 7.3.6 Russia
- 7.3.6.1 Market Trends
- 7.3.6.2 Market Forecast
- 7.3.7 Others
- 7.3.7.1 Market Trends
- 7.3.7.2 Market Forecast
- 7.4 Latin America
- 7.4.1 Brazil
- 7.4.1.1 Market Trends
- 7.4.1.2 Market Forecast
- 7.4.2 Mexico
- 7.4.2.1 Market Trends
- 7.4.2.2 Market Forecast
- 7.4.3 Others
- 7.4.3.1 Market Trends
- 7.4.3.2 Market Forecast
- 7.5 Middle East and Africa
- 7.5.1 Market Trends
- 7.5.2 Market Breakup by Country
- 7.5.3 Market Forecast
- 8 SWOT Analysis
- 8.1 Overview
- 8.2 Strengths
- 8.3 Weaknesses
- 8.4 Opportunities
- 8.5 Threats
- 9 Value Chain Analysis
- 10 Porters Five Forces Analysis
- 10.1 Overview
- 10.2 Bargaining Power of Buyers
- 10.3 Bargaining Power of Suppliers
- 10.4 Degree of Competition
- 10.5 Threat of New Entrants
- 10.6 Threat of Substitutes
- 11 Price Analysis
- 12 Competitive Landscape
- 12.1 Market Structure
- 12.2 Key Players
- 12.3 Profiles of Key Players
- 12.3.1 ABB Ltd
- 12.3.1.1 Company Overview
- 12.3.1.2 Product Portfolio
- 12.3.1.3 Financials
- 12.3.1.4 SWOT Analysis
- 12.3.2 Adaptive Balancing Power GmbH
- 12.3.2.1 Company Overview
- 12.3.2.2 Product Portfolio
- 12.3.2.3 Financials
- 12.3.3 Amber Kinetics Inc.
- 12.3.3.1 Company Overview
- 12.3.3.2 Product Portfolio
- 12.3.4 Beacon Power LLC
- 12.3.4.1 Company Overview
- 12.3.4.2 Product Portfolio
- 12.3.5 Calnetix Technologies LLC
- 12.3.5.1 Company Overview
- 12.3.5.2 Product Portfolio
- 12.3.6 Energiestro
- 12.3.6.1 Company Overview
- 12.3.6.2 Product Portfolio
- 12.3.7 Langley Holdings plc
- 12.3.7.1 Company Overview
- 12.3.7.2 Product Portfolio
- 12.3.7.3 Financials
- 12.3.8 Oxto Energy
- 12.3.8.1 Company Overview
- 12.3.8.2 Product Portfolio
- 12.3.9 Phillips Service Industries Inc.
- 12.3.9.1 Company Overview
- 12.3.9.2 Product Portfolio
- 12.3.10 Schwungrad Energie Limited
- 12.3.10.1 Company Overview
- 12.3.10.2 Product Portfolio
- 12.3.11 Siemens Aktiengesellschaft
- 12.3.11.1 Company Overview
- 12.3.11.2 Product Portfolio
- 12.3.11.3 Financials
- 12.3.11.4 SWOT Analysis
- 12.3.12 Stornetic GmbH
- 12.3.12.1 Company Overview
- 12.3.12.2 Product Portfolio
- 12.3.13 Teraloop Oy
- 12.3.13.1 Company Overview
- 12.3.13.2 Product Portfolio
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook