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Pulished Date April, 2021
ID: 10349
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Flywheel Energy Storage Market Segmentation by Application (UPS, Distributed Energy Generation, Transport, Data Centers), and Region - Industry Forecast to 2026

Pulished: April, 2021
ID: 10349
Pages: 175

Flywheel energy storage market Size, Share, Analysis:

flywheel energy storage market size was valued at USD 321.2 million in 2021and is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2021to 2026.

Energy it has become one of the main driving sources of the world. With dwindling natural resources and increasing demand for energy, managing energy efficiency has become really important. One of the main problems with energy is storage. It is very undependable and inept to store energy with present battery systems. Therefore, new technologies for efficient and economical energy storage systems are being explored. Driving energy storage has proven to be one of the most promising technologies for energy storage. Flywheel storage basically consists of a flywheel which is accelerated to very high speeds and suspended in a vacuum, energy is stored in the form of rotary motion that can be extracted by decelerating the flywheel. With recent advancements, yields of around 80% have been achieved which is the highest compared to any other storage device. Researchers are also working on increasing the capacity, which could result in cheaper shuttles.Driving energy storage is one such emerging electric energy storage technology that has seen significant growth in recent years. The flywheels energy storge through the angular movements of a rotating element. One of the main advantages of flywheels is their long life and low maintenance. The low environmental impact of the prospectuses also bodes well for this relatively new electric energy storage technology, paving the way for substantial growth opportunities in the global market. In the United States, the market is expected to experience significant growth due to the increase in installed capacity and the growing number of flyer projects across the country. Growing demand for electricity across the commercial sector, which includes facilities such as large data centres, is sure to drive demand for uninterruptible power systems. In addition, favourable government policies regarding clean energy production are expected to positively influence the outlook for the flywheel energy storage industry.

flywheel energy storage Recent Developments In Industry:

  • February 11, 2021- Piller Group GmbH has unveiled its new Rotary Inverter (RUPS), UNIBLOCK UBT + with POWERBRIDGE PB60 + which is used for storage devices UPS applications, ideal for environmentally friendly solutions such as reduction of carbon emissions, reduction of wasted electrical pollution, and reduction of toxic chemicals.
  • In June 2020, NEC Energy Solutions Inc., part of NEC Corp of Japan, a communications and technology giant, was hit hard by grid-wide commercial battery storage conditions and the crisis of COVID-19, which forced him to proceed with the liquidation of the company.

flywheel energy storage Market Drivers:

The growing demand for clean and continuous power supply in the end-use markets coupled with the growing energy storage industry is expected to drive the market during the forecast period. The flywheel provides an option of storing kinetic energy while using the inertia of a rotor to store and regenerate energy. The system is mainly used for grid balancing, the integration of renewable energies and the power supply of isolated grids and islands. The clean energy storage system is expected to serve as a reliable alternative to fossil fuels and can minimize dependence on them, thereby helping to reduce carbon emissions.

Flywheel energy storage market Restraints:

The flywheel energy storage system turns out to be an inexpensive technology up to a certain kilowatt scale and is not a promising solution for large scale installations. However, research and development in other areas, including electrical machinery, magnetic bearings, and high-strength composite materials produced from costly carbon fibre, are anticipated to commercialize flywheel energy storage market over the outlook period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2020 – 2025

Base Year

2020

Forecast Period

2021- 2026

CAGR

7.05%

Segments Covered

By Product, Type, Consumption, Distribution Channel and Region

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

 

Market Leaders Profiled

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

 

Flywheel Energy Storage Market

flywheel energy storage Market Segmentation

The data center applications segment held a significant market share in 2021and is expected to experience a high growth rate in the drive-thru energy storage systems market during the forecast period. Large IT companies like Google are constantly deploying, spinning and loading flywheels in their huge data centres. In the event of a transient power failure, the flywheel power supply provides rapid power to the connected systems, giving the standby generators time to restart.

The UPS applications segment is expected to experience significant growth during the outlook period due to advancement in automation technologies, increasing reliance on electronic equipment, and continued growth in business and industrial sectors. The flywheel inverter acts as a reliable back-up power source, avoiding losses during frequent power outages in multiple installations.

flywheel energy storage Regional Analysis:

North America accounted for the largest market share with 79.2% in terms of turnover. It is the largest flywheel energy storage market, with the United States occupying the largest share of the regional market. In the United States, flywheels are integrated with renewable sources to provide storage capacity to balance the intermittent nature of renewables. In addition, about 42.0% of carbon emissions in the United States come from electricity generation. Therefore, clean technologies, such as drive-thru energy production and storage, are expected to significantly reduce carbon emissions.

Europe was the second regional segment in terms of capacity in 2021and is expected to experience significant growth during the outlook period. Supportive government initiatives regarding the production and storage of clean energy have significantly boosted the market growth. The UK, Germany and France are among the major countries implementing flywheel technology in various end applications.

Frequent power outages in developing economies like China and India are expected to boost market growth in Asia-Pacific. Flywheels provide long life and are unaffected by the number of charge cycles. These characteristics make it a robust energy storage solution for a variety of end-use markets, including the ever-growing industrial and commercial sectors of Asia-Pacific economies.The growing demand for decentralized power generation, coupled with the increasing penetration of renewables in several Asia-Pacific countries, is expected to further boost the regional market growth. Operators store excess renewable energy in flywheel systems and later use it during peak periods for local power generation and grid power supply.

flywheel energy storage Market Key Players:

Key Players in the Flywheel energy market are, Active Power, Beacon Power LLC, Amber Kinetics, Inc., Calnetix Technologies LLC. And Piller Group GmbH.

Impact of Covid-19 on Flywheel Energy Storage Market:

With the outbreak of the COVID-19 pandemic, economic activity is in sharp decline due to mandatory closures and other containment measures. According to the IMF's World Economic Outlook released in June 2020, the world economy will register a GDP growth rate of -4.8% in 2020. This will mean a reduction of 8.1% from January 2020. The impact of the coronavirus pandemic on the energy, automotive and battery industries has already been profound.

1. Introduction                             

              1.1 Market Definition                  

              1.2 Scope of the report               

              1.3 Study Assumptions               

              1.4 Base Currency, Base Year and Forecast Periods                       

2. Research Methodology                                       

              2.1 Analysis Design                      

              2.2 Research Phases                    

                             2.2.1 Secondary Research          

                             2.2.2 Primary Research 

                             2.2.3 Data Modelling    

                             2.2.4 Expert Validation 

              2.3 Study Timeline                       

3. Report Overview                                    

              3.1 Executive Summary              

              3.2 Key Inferencees                     

4. Market Dynamics                                   

              4.1 Impact Analysis                      

                             4.1.1 Drivers     

                             4.1.2 Restaints 

                             4.1.3 Opportunities       

              4.2 Regulatory Environment                    

              4.3 Technology Timeline & Recent Trends                         

5. Competitor Benchmarking Analysis                                

              5.1 Key Player Benchmarking                   

                             5.1.1 Market share analysis       

                             5.1.2 Products/Service  

                             5.1.3 Regional Presence

              5.2 Mergers & Acquistion Landscape                   

              5.3 Joint Ventures & Collaborations                     

6. Market Segmentation                                          

              6.1 Flywheel Energy Storage Market, By Application                     

                             6.1.1 UPS           

                             6.1.2 Distributed Energy Generation      

                             6.1.3 Transport

                             6.1.4 Data Centers         

                             6.1.5 Market Size Estimations & Forecasts (2019-2024) 

                             6.1.6 Y-o-Y Growth Rate Analysis            

                             6.1.7 Market Attractiveness Index          

7. Geographical Landscape                                     

              7.1 Global Identity Governance and Administration Market, by Region                            

              7.2 North America - Market Analysis (2018 - 2024)                        

                             7.2.1 By Country            

                                           7.2.1.1 USA

                                           7.2.1.2 Canada

                             7.2.2 By Application      

              7.3 Europe                      

                             7.3.1 By Country            

                                           7.3.1.1 UK

                                           7.3.1.2 France

                                           7.3.1.3 Germany

                                           7.3.1.4 Spain

                                           7.3.1.5 Italy

                                           7.3.1.6 Rest of Europe

                             7.3.2 By Application      

              7.4 Asia Pacific                

                             7.4.1 By Country            

                                           7.4.1.1 China

                                           7.4.1.2 India

                                           7.4.1.3 Japan

                                           7.4.1.4 South Korea

                                           7.4.1.5 South East Asia

                                           7.4.1.6 Australia & NZ

                                           7.4.1.7 Rest of Asia-Pacific

                             7.4.2 By Application      

              7.5 Latin America                         

                             7.5.1 By Country            

                                           7.5.1.1 Brazil

                                           7.5.1.2 Argentina

                                           7.5.1.3 Mexico

                                           7.5.1.4 Rest of Latin America

                             7.5.2 By Application      

              7.6 Middle East and Africa                       

                             7.6.1 By Country            

                                           7.6.1.1 Middle East

                                           7.6.1.2 Africa

                             7.6.2 By Application      

8. Key Player Analysis                                

              8.1 EnSync Energy                        

                             8.1.1 Business Description         

                             8.1.2 Products/Service  

                             8.1.3 Financials

                             8.1.4 SWOT Analysis     

                             8.1.5 Recent Developments       

                             8.1.6 Analyst Overview 

              8.2 Beacon Power                        

              8.3 Active Power                          

              8.4 Calnetix Technologies                         

              8.5 Vycon Energy                         

              8.6 Temporal Power Ltd                            

              8.7 Pentadyne Power Corporation                        

              8.8 Amber Kinetics, Inc               

              8.9 Piller Group GmbH                

              8.10 Kinetech Power Company                

9. Market Outlook & Investment Opportunities                             

Appendix                                       

              List of Tables                   

              List of Figures                 

  • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped

  • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail

  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics

  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis

  • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development

  • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment

  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies

  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions

  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market

  1. Global Flywheel Energy Storage Market By Region, From 2021-2026 ( USD Billion )

  2. Global Flywheel Energy Storage Market By Application, From 2021-2026 ( USD Billion )

  3. Global UPS Market By Region, From 2021-2026 ( USD Billion )

  4. Global Distributed Energy Generation Market By Region, From 2021-2026 ( USD Billion )

  5. Global Transport Market By Region, From 2021-2026 ( USD Billion )

  6. Global Data Centers Market By Region, From 2021-2026 ( USD Billion )

 

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