The Flywheel Energy Storage Market size was valued at USD 327.15 million in 2022 and is expected to grow to USD 696.19 million by 2030 and grow at a CAGR of 9.9 % over the forecast period of 2023-2030.
A microgrid powered by renewable energy can receive instant active power support from a flywheel energy storage unit (FESU). It has been employed in uninterruptible power supply in recent years when the short-duration power shifts shorten battery life. Flywheels are utilised in the sphere of transportation and in space applications for energy transmission and, in particular, to stabilise or drive satellites (gyroscopic effect) in the context of autonomous energy generation. The extended lifespan of flywheel energy storage is its distinguishing feature. In Stephentown, New York, Beacon Power is developing the biggest flywheel energy storage device in the world.
Get more information on Flywheel Energy Storage Market - Request Sample Report
Since comparable devices have only been used for testing and small-scale operations, the 20-megawatt system represents a significant advancement in flywheel energy storage technology. 200 carbon fiber flywheels are used in the system, which is levitated in a vacuum chamber. The flywheels can continuously discharge 1 megawatt of power for 15 minutes while absorbing grid energy. The system replaces supplementary natural gas power units that were previously utilised to balance supply and demand in grid activity by increasing energy production during times of peak demand and decreasing production during times of high supply.
KEY DRIVERS:
Increasing Energy Storage Installation
By utilizing stored energy during periods of high demand, high generating costs, or when no alternative generation is available, Energy Storage Systems (ESS) may balance the supply and demand of electrical energy. Energy costs have risen as a result of the rising energy demand in several emerging nations, including Brazil, Russia, India, China, and South Africa. In order to combine conventional power plants to fulfil rising demand and complement intermittent RES for their integration into the electrical grid, ESS is a crucial requirement.
RESTRAIN:
Lower Energy Density
Higher Component Cost
OPPORTUNITY:
High energy efficient solution and more cost effective
Increasing energy generation in renewable energy sources.
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 and the grid or other facilities.
CHALLENGES:
Rising Transition Towards Renewable Energy
The COVID-19 pandemic's impact on electrical energy storage technology was examined in this study investigated. According to energy and particularly electrical energy storage sectors, the outcomes of the crises and opportunities brought on by this unforeseen pandemic in the future processes were assessed. Homeowners' requirements for electrical energy considerably rose as a result of the house quarantines implemented to stop the epidemic's spread. Due to the risk of infection in enclosed spaces like public buses or metros, the COVID-19 pandemic has also caused significant changes in people's public transportation habits. It has been observed that 20% of people may prefer electric micro mobility devices powered by lithium batteries. Despite the fact that the COVID-19 epidemic has greatly reduced the demand for primary energy sources
By Application
UPS
Data Centre
Distributed Energy Generation
Transport
Others
Get Customized Report as per your Business Requirement - Request For Customized Report
North America dominated the flywheel energy storage market in 2022, and this trend will continue in the years to come. This can be linked to the rising number of flywheel initiatives being implemented around the area to preserve energy. In order to make up for the intermittent nature of renewable energy, flywheels are also being coupled to renewable energy sources.
A considerable growth rate in the Asia-Pacific (APAC) flywheel energy storage market is anticipated during the forecast period as a result of rising need for a reliable power supply.
REGIONAL COVERAGE:
North America
US
Canada
Mexico
Europe
Eastern Europe
Poland
Romania
Hungary
Turkey
Rest of Eastern Europe
Western Europe
Germany
France
UK
Italy
Spain
Netherlands
Switzerland
Austria
Rest of Western Europe
Asia Pacific
China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific
Middle East & Africa
Middle East
UAE
Egypt
Saudi Arabia
Qatar
Rest of Middle East
Africa
Nigeria
South Africa
Rest of Africa
Latin America
Brazil
Argentina
Colombia
Rest of Latin America
In July 2022, Active Power and Central Power teamed together to deliver standby generators from Central Power and live demonstrations of POWERHOUSE power outages. The company's flagship CLEANSOURCE PLUS MMS 1.33MW UPS with automated transfer is installed in the POWERHOUSE.
In June 2022, Adaptive Balancing Power installed a new charging infrastructure with flywheel storage, enabling the area to transition to electric buses even without having to increase its power grids. The high-performance flywheel mass storage pantograph charging station is anticipated to start up in September. In ordinary driving operations, a test period of 18 months is planned. The infrastructure concept will also be used to other locations following a successful test.
May 2022 - Sartorius, a major corporation in the life sciences industry, revealed that its offices now have UPS systems from Piller with flywheel power backup.
Langley Holdings pic, Amber Kinetics, Inc., Stornetic GmbH, POWERTHRU, Energiestro, VYCON, Inc., Be New Energy (Tianjin) Co., Ltd. (BNE), Beacon Power, LLC, PUNCH Flybrid, Kinetic Traction Systems, Inc. and other players are listed in a final report.
| Report Attributes | Details |
| Market Size in 2022 | US$ 327.15 Mn |
| Market Size by 2030 | US$ 696.19 Mn |
| CAGR | CAGR of 9.9 % From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Application, (UPS, Data Centre, Distributed Energy Generation, Transport, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Company Profiles | Langley Holdings pic, Amber Kinetics, Inc., Stornetic GmbH, POWERTHRU, Energiestro, VYCON, Inc., Be New Energy (Tianjin) Co., Ltd. (BNE), Beacon Power, LLC, PUNCH Flybrid, Kinetic Traction Systems, Inc. |
| Key Drivers | • Increasing Energy Storage Installation |
| Market Restraints | • Lower Energy Density • Higher Component Cost |
Ans: The Flywheel Energy Storage Market is anticipated to expand by 9.9 % from 2023 to 2030.
Ans: USD 696.19 million is expected to grow by 2030.
Ans: The Flywheel Energy Storage Market size was valued at USD 327.15 million in 2022
Ans: North America is dominating the market.
Ans: Lower Energy Density and Higher Component Cost
TABLE OF CONTENTS
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 Impact of the Ukraine- Russia war
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Flywheel Energy Storage Market Segmentation, By Application
8.1 UPS
8.2 Data Centre
8.3 Distributed Energy Generation
8.4 Transport
8.5 Others
9. Regional Analysis
9.1 Introduction
9.2 North America
9.2.1 North America Flywheel Energy Storage Market by Country
9.2.2 North America Flywheel Energy Storage Market by Application
9.2.3 USA
9.2.3.1 USA Flywheel Energy Storage Market by Application
9.2.4 Canada
9.2.4.1 Canada Flywheel Energy Storage Market by Application
9.2.5 Mexico
9.2.5.1 Mexico Flywheel Energy Storage Market by Application
9.3 Europe
9.3.1 Eastern Europe
9.3.1.1 Eastern Europe Flywheel Energy Storage Market by Country
9.3.1.2 Eastern Europe Flywheel Energy Storage Market by Application
9.3.1.3 Poland
9.3.1.4.1 Poland Flywheel Energy Storage Market by Application
9.3.1.4 Romania
9.3.1.4.1 Romania Flywheel Energy Storage Market by Application
9.3.1.5 Hungary
9.3.1.5.1 Hungary Flywheel Energy Storage Market by Application
9.3.1.6 Turkey
9.3.1.6.1 Turkey Flywheel Energy Storage Market by Application
9.3.1.7 Rest of Eastern Europe
9.3.1.7.1 Rest of Eastern Europe Flywheel Energy Storage Market by Application
9.3.2 Western Europe
9.3.2.1 Western Europe Flywheel Energy Storage Market by Country
9.3.2.2 Western Europe Flywheel Energy Storage Market by Application
9.3.2.3 Germany
9.3.2.3.1 Germany Flywheel Energy Storage Market by Application
9.3.2.4 France
9.3.2.4.1 France Flywheel Energy Storage Market by Application
9.3.2.5 UK
9.3.2.5.1 UK Flywheel Energy Storage Market by Application
9.3.2.6 Italy
9.3.2.6.1 Italy Flywheel Energy Storage Market by Application
9.3.2.7 Spain
9.3.2.7.1 Spain Flywheel Energy Storage Market by Application
9.3.2.8 Netherlands
9.3.2.8.1 Netherlands Flywheel Energy Storage Market by Application
9.3.2.9 Switzerland
9.3.2.9.1 Switzerland Flywheel Energy Storage Market by Application
9.3.2.10 Austria
9.3.2.10.1 Austria Flywheel Energy Storage Market by Application
9.3.2.11 Rest of Western Europe
9.3.2.11.1 Rest of Western Europe Flywheel Energy Storage Market by Application
9.4 Asia-Pacific
9.4.1 Asia Pacific Flywheel Energy Storage Market by Country
9.4.2 Asia Pacific Flywheel Energy Storage Market by Application
9.4.3 China
9.4.3.1 China Flywheel Energy Storage Market by Application
9.4.4 India
9.4.4.1 India Flywheel Energy Storage Market by Application
9.4.5 Japan
9.4.5.1 Japan Flywheel Energy Storage Market by Application
9.4.6 South Korea
9.4.6.1 South Korea Flywheel Energy Storage Market by Application
9.4.7 Vietnam
9.4.7.1 Vietnam Flywheel Energy Storage Market by Application
9.4.8 Singapore
9.4.8.1 Singapore Flywheel Energy Storage Market by Application
9.4.9 Australia
9.4.9.1 Australia Flywheel Energy Storage Market by Application
9.4.10 Rest of Asia-Pacific
9.4.10.1 Rest of Asia-Pacific Flywheel Energy Storage Market by Application
9.5 Middle East & Africa
9.5.1 Middle East
9.5.1.1 Middle East Flywheel Energy Storage Market by Country
9.5.1.2 Middle East Flywheel Energy Storage Market by Application
9.5.1.3 UAE
9.5.1.3.1 UAE Flywheel Energy Storage Market by Application
9.5.1.4 Egypt
9.5.1.4.1 Egypt Flywheel Energy Storage Market by Application
9.5.1.5 Saudi Arabia
9.5.1.5.1 Saudi Arabia Flywheel Energy Storage Market by Application
9.5.1.6 Qatar
9.5.1.6.1 Qatar Flywheel Energy Storage Market by Application
9.5.1.7 Rest of Middle East
9.5.1.7.1 Rest of Middle East Flywheel Energy Storage Market by Application
9.5.2 Africa
9.5.2.1 Africa Flywheel Energy Storage Market by Country
9.5.2.2 Africa Flywheel Energy Storage Market by Application
9.5.2.3 Nigeria
9.5.2.3.1 Nigeria Flywheel Energy Storage Market by Application
9.5.2.4 South Africa
9.5.2.4.1 South Africa Flywheel Energy Storage Market by Application
9.5.2.5 Rest of Africa
9.5.2.5.1 Rest of Africa Flywheel Energy Storage Market by Application
9.6 Latin America
9.6.1 Latin America Flywheel Energy Storage Market by Country
9.6.2 Latin America Flywheel Energy Storage Market by Application
9.6.3 Brazil
9.6.3.1 Brazil Flywheel Energy Storage Market by Application
9.6.4 Argentina
9.6.4.1 Argentina Flywheel Energy Storage Market by Application
9.6.5 Colombia
9.6.5.1 Colombia Flywheel Energy Storage Market by Application
9.6.6 Rest of Latin America
9.6.6.1 Rest of Latin America Flywheel Energy Storage Market by Application
10 Company Profile
10.1 Langley Holdings plc
10.1.1 Company Overview
10.1.2 Financials
10.1.3 Product/Services Offered
10.1.4 SWOT Analysis
10.1.5 The SNS View
10.2 Amber Kinetics, Inc.
10.2.1 Company Overview
10.2.2 Financials
10.2.3 Product/Services Offered
10.2.4 SWOT Analysis
10.2.5 The SNS View
10.3 Stornetic GmbH
10.3.1 Company Overview
10.3.2 Financials
10.3.3 Product/Services Offered
10.3.4 SWOT Analysis
10.3.5 The SNS View
10.4 POWERTHRU
10.4 Company Overview
10.4.2 Financials
10.4.3 Product/Services Offered
10.4.4 SWOT Analysis
10.4.5 The SNS View
10.5 Energiestro
10.5.1 Company Overview
10.5.2 Financials
10.5.3 Product/Services Offered
10.5.4 SWOT Analysis
10.5.5 The SNS View
10.6 VYCON, Inc.
10.6.1 Company Overview
10.6.2 Financials
10.6.3 Product/Services Offered
10.6.4 SWOT Analysis
10.6.5 The SNS View
10.7 Be New Energy (Tianjin) Co., Ltd. (BNE)
10.7.1 Company Overview
10.7.2 Financials
10.7.3 Product/Services Offered
10.7.4 SWOT Analysis
10.7.5 The SNS View
10.8 Beacon Power
10.8.1 Company Overview
10.8.2 Financials
10.8.3 Product/Services Offered
10.8.4 SWOT Analysis
10.8.5 The SNS View
10.9 PUNCH Flybrid
10.9.1 Company Overview
10.9.2 Financials
10.9.3 Product/Services Offered
10.9.4 SWOT Analysis
10.9.5 The SNS View
10.10 Kinetic Traction Systems, Inc.
10.10.1 Company Overview
10.10.2 Financials
10.10.3 Product/Services Offered
10.10.4 SWOT Analysis
10.10.5 The SNS View
11. Competitive Landscape
11.1 Competitive Bench marking
11.2 Market Share Analysis
11.3 Recent Developments
11.3.1 Industry News
11.3.2 Company News
11.3.3 Mergers & Acquisitions
12. USE Cases and Best Practices
13. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
The Power Distribution Component Market size was valued at USD 115.3 billion in 2022 and is expected to grow to USD 187.97 billion by 2030 and grow at a CAGR of 6.3% over the forecast period of 2023-2030.
The Sand Control Solutions Market size was valued at USD 2.5 billion in 2022 and is expected to grow to USD 5.01 billion by 2030 and grow at a CAGR of 9.1% over the forecast period of 2023-2030.
The Utility Poles Market size was valued at USD 33.15 billion in 2022 and is expected to grow to USD 54.04 billion by 2030 and grow at a CAGR of 6.3% over the forecast period of 2023-2030.
The Floating Solar Panels Market size was valued at USD 35.4 billion in 2022 and is expected to grow to USD 180.68 billion by 2030 and grow at a CAGR of 22.6 % over the forecast period of 2023-2030.
The Wind Power Market size was valued at USD 99.5 billion in 2022 and is expected to grow to USD 165.91 billion by 2030 and grow at a CAGR of 6.6 % over the forecast period of 2023-2030.
The Electrolyzers Market size was valued at USD 1.1 billion in 2022 and is expected to grow to USD 123.39 billion by 2030 and grow at a CAGR of 80.4% over the forecast period of 2023-2030.
Hi! Click one of our member below to chat on Phone
© 2024 All Rights Reserved by SNS Insider Pvt Ltd
