About Flywheel Energy Storage (FES) Systems
Flywheel energy storage (FES) system uses an electric motor to spin a flywheel at a high speed, converting electrical power into mechanical power and storing it, and flywheels drive generators to produce power as required. Due to the increasing demand for backup energy sources and growth in the car industry, the flywheel energy storage system market is expected to expand in the future. In the forecasted timeframe, the government's high-level initiative to encourage advanced energy storage would fuel the industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.8% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that Japan Vendors will contribute the maximum growth to Global Flywheel Energy Storage (FES) Systems market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Active Power Inc. (United States), Beacon Power (United States), Calnetix Technologies, LLC (United States), Acumentrics (United States), Piller Group GmbH (Germany), POWERTHRU (United States), PowerTree Pvt.Ltd (India), Siemens AG (Germany), Langley Holdings plc (United Kingdom) and VYCON (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Boeing (United States), Amber Kinetics (United States), Kinetech Power Systems (Mexico) and NRStor Inc.( Canada).
Segmentation Overview
AMA Research has segmented the market of Global Flywheel Energy Storage (FES) Systems market by Type (Conventional Steel Rotor Flywheel and Advanced Composite Flywheel), Application (Uninterruptible Power Supply (UPS), Transportation, Distributed Energy Generation, Motor Sports, Data Centers and Others) and Region.
On the basis of geography, the market of Flywheel Energy Storage (FES) Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
If we see Market by , the sub-segment i.e. will boost the Flywheel Energy Storage (FES) Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.Influencing Trend:
Government Initiative for Advanced Energy Storage
Market Growth Drivers:
Rapid Industrialisation and High Demand for Back-Up Power Sources such as Unintrumpted Power Supply in Emerging Countries and Growth in Automobile Sector in Developing Countries
Challenges:
Availability of Other Storage Devices such as Battery Storage
Restraints:
High Initial Investment Cost
Opportunities:
Upsurging Data Center Construction in Both Developed and Developing Countries and Growing Commercial Centers
Market Leaders and their expansionary development strategies
In September 2023, Peak Power and Skeleton Technologies joined forces to develop and deploy flywheel-based energy storage solutions for the marine industry.
In June 2023, Active Power Launched their CLEANPOWER1000 flywheel system, targeting data centers and grid applications with a scalable and sustainable energy storage solution.
Key Target Audience
Flywheel Energy Storage System Manufacturers, Flywheel Energy Storage System Suppliers/Distributors, Government and Research Organizations, Grid Operators, Technology Standard Organizations and Potential Investors
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.