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Flywheel Energy Storage Market Size is projected to reach USD 684 million by 2030, growing at a CAGR of 9.5%: Straits Research

Straits Research - Market Research Strategy | Strategy Consulting | Business Research | Business Consulting | Market Research
Straits Research - Market Research Strategy | Strategy Consulting | Business Research | Business Consulting | Market Research

The global flywheel energy storage market size was valued at USD 331 million in 2021 and is anticipated to reach an expected value of USD 684 million by 2030 at a CAGR of 9.5% over the forecast period (2022–2030). North America region dominates the global flywheel energy storage market.

New York, United States, Oct. 06, 2022 (GLOBE NEWSWIRE) -- Around 30% of the developing countries' population lives without electricity access, which is a key driver for the flywheel's market growth. As per the United Nations Sustainable Energy for All initiative, around USD 45,000 million investment is expected to be made for access to modern electric power. Flywheel energy storage systems are considered essential in these investments, allowing better utilization of existing and new energy resources. Therefore, the energy sector's considerable investments are projected to propel the regional demand for flywheel energy storage systems in the coming seven years.


Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/flywheel-energy-storage-market/request-sample


Impact of COVID-19

The outbreak of the COVID-19 pandemic has drastically changed the economic outlook for the future. Currently, the government impositions and severe lockdowns across the globe has adverse effects on industries and has created disruptions in the global supply chain. The halt in the production activities has significantly lowered energy demand. Moreover, during the unlocking phase and the prevalence of uncertainty still hanging around, the manufacturing sectors worldwide have considerably reduced production and operations. The decline in the production activities results in lower demand for continuous energy and power, limiting the market's revenue potential.

However, the demand for flywheel energy storage systems witnessed an upward trend in these unprecedented times. Hospitals and the rising number of quarantine centers have created a need for flywheels to provide backup and smooth distribution of power. The systems allow the hospitals to function efficiently without risking the patient's life and are reliable alternatives to UPS systems that use lead-acid batteries.


Report Scope

Report Metric

Details

Market Size

USD 684 million by 2030

CAGR

9.5% (2022-2030)

Historical Data

2019-2020

Base Year

2021

Forecast Period

2022-2030

Forecast Units

Value (USD Million)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Rim Type, Application, End-User, Regions

Geographies Covered

North America, Europe, Asia-Pacific, LAME and Rest of the World

Key Companies Profiled/Vendors

ABB Ltd, Active Power Solutions Ltd, Amber Kinetics, Inc., Beacon Power, LLC, Vycon, Inc., POWERTHRU (Phillips Service Industries, Inc.), STORNETIC GmbH, OXTO Energy, Energiestro, Piller UK Limited, Kinetech Power Systems S.A.

Key Market Opportunities

The waste or curtailment of renewable sources presents a key opportunity for flywheels energy storage systems

Key Market Drivers

Adoption of Clean Energy to Boost the Demand for Energy Storage Systems
Growing Residential and Commercial Construction Globally to Drive the Demand

Buy Now Full Report @ https://straitsresearch.com/buy-now/flywheel-energy-storage-market


Regional Analysis

Asia-Pacific region is witnessing the fastest growth rate in the global flywheel energy storage market owing to the rapid industrialization and urbanization in the country. The growing incomes of the region's middle-class populace have resulted in massive volume migrations to urban areas. The existing power grids and electricity distribution systems are aging and cannot supply the energy according to the demand. There is a need for new infrastructure for modernization and expansion of the grid to serve the growing populations and bring power to more than half of the world's population living in the region.


Key Highlights

  • The global flywheel energy storage market size was valued at USD 331 million in 2021 and is anticipated to reach an expected value of USD 684 million by 2030 at a CAGR of 9.5% over the forecast period (2022–2030).

  • The global flywheel energy storage market is expected to grow at a lucrative growth rate owing to the rapid growth in renewable energy plant deployment and the need for low-cost uninterrupted electricity in several industries.

  • UPS segment is projected to hold the largest market share with around 20-30% strongly supported by the growing number of data centers and significantly rising cloud computing and visualization worldwide.

  • North America is dominating the global flywheel energy storage market during the forecast period 2020–2030. The region's growth is attributed to the growing demand for energy from numerous sectors and aging existing electricity grids.


Some of the key players profiled in the global flywheel energy storage market are

  • ABB Ltd

  • Active Power Solutions Ltd

  • Amber Kinetics Inc.

  • Beacon Power LLC

  • Vycon Inc.

  • POWERTHRU (Phillips Service Industries, Inc.)

  • STORNETIC GmbH

  • OXTO Energy

  • Energiestro

  • Piller UK Limited

  • Kinetech Power Systems S.A.


Get a Free Sample Copy of This Report @ https://straitsresearch.com/report/flywheel-energy-storage-market/request-sample


Global Flywheel Energy Storage Market: Segmentation

Rim Type

  • Solid Steel

  • Carbon Composite

Application

  • Power Distribution

  • Hybrid and Electric Vehicles

  • UPS

  • Microgrids

  • Distributed Energy Generation

  • Others

End-User

  • Healthcare

  • Transportation

  • Utilities and Renewables

  • Telecommunication

  • Data Centers

  • Industrial and Manufacturing

  • Others

Regions

  • North America

  • Europe

  • The Asia-Pacific

  • Central and South America and the Caribbean

  • The Middle-East

  • Africa


TABLE OF CONTENT

1          Introduction

1.1       Market Definition

1.2       Market Scope

2          Research Methodology

2.1       Primary Research

2.2       Research Methodology

2.3       Assumptions and Exclusions

2.4       Secondary Data Sources

3          Executive Summary

4          Market Overview

4.1       Report Segmentation and Scope

4.2       Value Chain Analysis: Flywheel Energy Storage Market

4.2.1   Vendor Matrix

4.3       Key Market Trends

4.3.1   Drivers

4.3.2   Restraints

4.3.3   Opportunities

4.4       Porter’s Five Forces Analysis

4.4.1   Bargaining Power of Suppliers

4.4.2   Bargaining Power of Buyers

4.4.3   Threat of Substitution

4.4.4   Threat of New Entrants

4.4.5   Competitive Rivalry

4.5       Covid-19 Impact Analysis

4.5.1   Pre and Post Covid-19 Market Scenario Analysis

4.5.2   Market Recovery Timeline and Challenge

4.6       Environment and Regulatory Landscape

4.7       Forecast Factors and Relevance of Impact

4.8       Macro-Economic and Geopolitical Scenario

4.9       Parent Market Overview

4.10    Technology Landscape

4.11    Market Share Analysis

4.12    Potential Venture Analysis

4.13    Regional Price Trends

4.14    Raw Material Trends

4.15    Cost Structure Analysis

4.15.1 Labor Cost

4.15.2 Consumables

4.15.3 Maintenance Cost

5          Rim Type Overview

5.1       Introduction

5.1.1   Market Size and Forecast (Value and Volume)

5.2       Solid Steel

5.2.1   Market Size and Forecast (Value and Volume)

5.3       Carbon Composite

5.3.1   Market Size and Forecast (Value and Volume)

6          Application Overview

6.1       Introduction

6.1.1   Market Size and Forecast (Value and Volume)

6.2       Power Distribution

6.2.1   Market Size and Forecast (Value and Volume)

6.3       Hybrid and Electric Vehicles

6.3.1   Market Size and Forecast (Value and Volume)

6.4       UPS

6.4.1   Market Size and Forecast (Value and Volume)

6.5       Microgrids

6.5.1   Market Size and Forecast (Value and Volume)

6.6       Distributed Energy Generation

6.6.1   Market Size and Forecast (Value and Volume)

6.7       Others

6.7.1   Market Size and Forecast (Value and Volume)

7          End-User Overview

7.1       Introduction

7.1.1   Market Size and Forecast (Value and Volume)

7.2       Healthcare

7.2.1   Market Size and Forecast (Value and Volume)

7.3       Transportation

7.3.1   Market Size and Forecast (Value and Volume)

7.4       Utilities and Renewables

7.4.1   Market Size and Forecast (Value and Volume)

7.5       Telecommunication

7.5.1   Market Size and Forecast (Value and Volume)

7.6       Data Centers

7.6.1   Market Size and Forecast (Value and Volume)

7.7       Industrial and Manufacturing

7.7.1   Market Size and Forecast (Value and Volume)

7.8       Others

7.8.1   Market Size and Forecast (Value and Volume)

8          Regional Overview

8.1      Introduction

8.1.1   Market Size and Forecast (Value and Volume)

8.2      North America

8.2.1   Economic Overview

8.2.2   Market Scenario

8.2.3   The U.S.

8.2.3.1            By Rim Type

8.2.3.2            By Application

8.2.3.3            By End-User

8.2.4   Canada

8.2.4.1            By Rim Type

8.2.4.2            By Application

8.2.4.3            By End-User

8.2.5   Mexico

8.2.5.1            By Rim Type

8.2.5.2            By Application

8.2.5.3            By End-User

8.3      Central and South America and the Caribbean

8.3.1   Economic Overview

8.3.2   Market Scenario

8.3.3   Brazil

8.3.3.1            By Rim Type

8.3.3.2            By Application

8.3.3.3            By End-User

8.3.4   Argentina

8.3.4.1            By Rim Type

8.3.4.2            By Application

8.3.4.3            By End-User

8.3.5   Colombia

8.3.5.1            By Rim Type

8.3.5.2            By Application

8.3.5.3            By End-User

8.3.6   Rest of Central and South America and the Caribbean

8.3.6.1            By Rim Type

8.3.6.2            By Application

8.3.6.3            By End-User

8.4      Europe

8.4.1   Economic Overview

8.4.2   Market Scenario

8.4.3   Germany

8.4.3.1            By Rim Type

8.4.3.2            By Application

8.4.3.3            By End-User

8.4.4   France

8.4.4.1            By Rim Type

8.4.4.2            By Application

8.4.4.3            By End-User

8.4.5   The U.K.

8.4.5.1            By Rim Type

8.4.5.2            By Application

8.4.5.3            By End-User

8.4.6   Italy

8.4.6.1            By Rim Type

8.4.6.2            By Application

8.4.6.3            By End-User

8.4.7   Rest of Europe

8.4.7.1            By Rim Type

8.4.7.2            By Application

8.4.7.3            By End-User

8.5      Asia-Pacific (APAC)

8.5.1   Economic Overview

8.5.2   Market Scenario

8.5.3   China

8.5.3.1            By Rim Type

8.5.3.2            By Application

8.5.3.3            By End-User

8.5.4   Japan

8.5.4.1            By Rim Type

8.5.4.2            By Application

8.5.4.3            By End-User

8.5.5   India

8.5.5.1            By Rim Type

8.5.5.2            By Application

8.5.5.3            By End-User

8.5.6   Australia

8.5.6.1            By Rim Type

8.5.6.2            By Application

8.5.6.3            By End-User

8.5.7   South Korea

8.5.7.1            By Rim Type

8.5.7.2            By Application

8.5.7.3            By End-User

8.5.8   Rest of APAC

8.5.8.1            By Rim Type

8.5.8.2            By Application

8.5.8.3            By End-User

8.6      The Middle East

8.6.1   Economic Overview

8.6.2   Market Scenario

8.6.3   Saudi Arabia

8.6.3.1            By Rim Type

8.6.3.2            By Application

8.6.3.3            By End-User

8.6.4   The UAE

8.6.4.1            By Rim Type

8.6.4.2            By Application

8.6.4.3            By End-User

8.6.5   Qatar

8.6.5.1            By Rim Type

8.6.5.2            By Application

8.6.5.3            By End-User

8.6.6   Oman

8.6.6.1            By Rim Type

8.6.6.2            By Application

8.6.6.3            By End-User

8.6.7   Turkey

8.6.7.1            By Rim Type

8.6.7.2            By Application

8.6.7.3            By End-User

8.6.8   Rest of the Middle East

8.6.8.1            By Rim Type

8.6.8.2            By Application

8.6.8.3            By End-User

8.7      Africa

8.7.1   Economic Overview

8.7.2   Market Scenario

8.7.3   Nigeria

8.7.3.1            By Rim Type

8.7.3.2            By Application

8.7.3.3            By End-User

8.7.4   South Africa

8.7.4.1            By Rim Type

8.7.4.2            By Application

8.7.4.3            By End-User

8.7.5   Rest of Africa

8.7.5.1            By Rim Type

8.7.5.2            By Application

8.7.5.3            By End-User

9          Competitive Landscape — Manufacturers and Suppliers

9.1      Competition Dashboard

9.2      Industry Structure

9.3      ABB Ltd

9.3.1   Business Overview

9.3.2   Financial Performance

9.3.3   Recent Developments

9.3.4   Product Portfolio

9.4      Active Power Solutions Ltd

9.4.1   Business Overview

9.4.2   Financial Performance

9.4.3   Recent Developments

9.4.4   Product Portfolio

9.5      Amber Kinetics, Inc.

9.5.1   Business Overview

9.5.2   Financial Performance

9.5.3   Recent Developments

9.5.4   Product Portfolio

9.6      Beacon Power, LLC

9.6.1   Business Overview

9.6.2   Financial Performance

9.6.3   Recent Developments

9.6.4   Product Portfolio

9.7      VYCON, Inc.

9.7.1   Business Overview

9.7.2   Financial Performance

9.7.3   Recent Developments

9.7.4   Product Portfolio

9.8      POWERTHRU (Phillips Service Industries, Inc.)

9.8.1   Business Overview

9.8.2   Financial Performance

9.8.3   Recent Developments

9.8.4   Product Portfolio

9.9      STORNETIC GmbH

9.9.1   Business Overview

9.9.2   Financial Performance

9.9.3   Recent Developments

9.9.4   Product Portfolio

9.10    OXTO Energy

9.10.1 Business Overview

9.10.2 Financial Performance

9.10.3 Recent Developments

9.10.4 Product Portfolio

9.11    Energiestro

9.11.1 Business Overview

9.11.2 Financial Performance

9.11.3 Recent Developments

9.11.4 Product Portfolio

9.12    Piller UK Limited

9.12.1 Business Overview

9.12.2 Financial Performance

9.12.3 Recent Developments

9.12.4 Product Portfolio

9.13    Kinetech Power Systems S.A.

9.13.1 Business Overview

9.13.2 Financial Performance

9.13.3 Recent Developments

9.13.4 Product Portfolio

10        Conclusion and Recommendation

11        Acronyms and Abbreviations


Table of Content and Figure @ https://straitsresearch.com/report/flywheel-energy-storage-market/toc


Market News

  • In Aug 2019, VYCON unveiled the VDC-XXT flywheel model, an eco-friendly system for clean energy storage solutions.

  • In May 2019, Energiestro entered into a partnership with Voltalia to introduce the new innovative storage solution- flywheels made of concrete.


News Media

Asia-Pacific to Grab Lion's Share in the Global Flywheel Energy Storage Market


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Power Electronics Market: Information by Device Type (Power Discrete, Power Module), Material (Silicon Carbide, Sapphire), Application (Power Management, UPS), and Region — Forecast till 2030


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