Flywheel Energy Storage System Market Size, Growth, Trends | Report 2022-2030
The global flywheel energy storage system market was surpassed at USD 326.5 million in 2021 and is expected to hit around USD 738.32 million by 2030, growing at a CAGR of 9.49% from 2022 to 2030
The rise in climate change issues and environmental concerns led various countries, around the world, to reduce their carbon footprint for power generation and transportation sector and to opt for cleaner and green energy technologies owing to the demand for flywheel energy storage is growing in its specific application segments.
The data center is the highest penetration application segment in the flywheel energy storage market due to the growing demand for energy storage devices, in order to overcome the risk of interruptions at the main power supply. UPS, with the second-highest penetration, is one of the most important application areas of flywheel energy storage systems. The growing demand for uninterrupted power supply from industries across various sectors is driving the market for UPS.
During the forecast period, the penetration of the distributed energy generation segment is projected to grow at the highest rate. This method of power generation helps in cost reduction as the power is generated at the point of consumption. Besides, the generation of power on-site eliminates inefficiencies and complexities associated with transmission and distribution.
The North America region is leading the market in 2021. The North American flywheel energy storage market is characterized by growing demand for UPS systems, to maintain a continuous supply of power for commercial and industrial applications.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 326.5 million |
| Revenue Forecast by 2030 | USD 738.32 million |
| Growth rate from 2022 to 2030 | CAGR of 9.49% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Application, region |
| Companies Covered | Langley Holdings plc, Amber Kinetics, Inc., Stornetic GmbH, POWERTHRU, Energiestro, VYCON, Inc., Bc New Energy (Tianjin) Co., Ltd. (BNE), Beacon Power, LLC, PUNCH Flybrid, Kinetic Traction Systems, Inc. |
Application Insights
The others segment led the market and accounted for 44.8% share of the global revenue in 2021. Frequency regulation applications of flywheels are included in this segment. These applications are gaining importance due to the growing demand for uninterrupted power from commercial workstations and factories.
Uninterruptible power supply (UPS) is one of the major application areas of flywheel energy storage systems. Power failures can cause huge losses in businesses and commercial workstations. Flywheel UPS systems can be used to overcome the problems faced by sudden dips or glitches in electric and voltage supplies. Also, since this technology does not involve the use of fossil fuels, it is environmentally friendly.
Flywheels are used as intermediate energy storage systems for transport applications such as automobiles. Flywheel storage energy systems are more commonly used in Formula 1 cars and hybrid vehicles. However, manufacturers such as Maruti Suzuki have adopted this technology for passenger vehicles also.
Distributed energy generation involves the generation of power at the place of consumption. This method has several advantages such as elimination of cost, inefficiencies, and complexities related to power generation as compared to centrally generated power.
Further, distributed energy generation aids to provide faster power backup in case of natural disasters such as floods and earthquakes. This has been one of the major drivers for the deployment of distributed energy generation sources in areas, which are prone to natural disasters.
Regional Insights
North America dominated the global market in 2021 and accounted for the largest revenue share of more than 78.22%. The flywheel energy storage market in North America is dominated by the U.S. Batteries and flywheels are the most commonly used energy storage systems in this region. The North American flywheel energy storage market is characterized by growing demand for UPS systems, to maintain a continuous supply of power intended for commercial and industrial applications.
Similarly, the growing demand for data centers designed for storing large amounts of data has resulted in the growth of the flywheel energy storage market within this region. The growing energy storage market in this region is projected to play a huge role in the growth of the flywheel market, in this region.
The growing automobile industry, particularly in countries such as Germany and Italy are, further, increasing the demand for flywheel energy storage systems in Europe. Germany is known as the automobile and engineering hub of Europe. Some of the major automobile manufacturers such as Volkswagen, Mercedes Benz, and Porsche are headquartered in this country. Thus, the growing automobile industry is one of the biggest drivers of the flywheel energy storage market in Germany.
The UK is committed in making use of renewable sources for energy storage. This is evident from the fact that nearly two-thirds of the country’s energy storage capacity is completely dedicated to renewable energy sources including flywheel systems.
The UK flywheel energy storage consumption is expected to grow at a steady rate courtesy growing demand for energy storage systems in this country. Growing demand for data centers, which are projected to dominate the flywheel energy storage market, is expected to drive the market over the forecast period.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Flywheel Energy Storage System Market
5.1. COVID-19 Landscape: Flywheel Energy Storage System Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Flywheel Energy Storage System Market, By Application
8.1. Flywheel Energy Storage System Market, by Application Type, 2020-2027
8.1.1. UPS
8.1.1.1. Market Revenue and Forecast (2016-2027)
8.1.2. Data Center
8.1.2.1. Market Revenue and Forecast (2016-2027)
8.1.3. Distributed Energy Generation
8.1.3.1. Market Revenue and Forecast (2016-2027)
8.1.4. Transport
8.1.4.1. Market Revenue and Forecast (2016-2027)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2016-2027)
Chapter 9. Global Flywheel Energy Storage System Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Application (2016-2027)
9.1.2. U.S.
9.1.3. Rest of North America
9.1.3.1. Market Revenue and Forecast, by Application (2016-2027)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Application (2016-2027)
9.2.2. UK
9.2.2.1. Market Revenue and Forecast, by Application (2016-2027)
9.2.3. France
9.2.3.1. Market Revenue and Forecast, by Application (2016-2027)
9.2.4. Rest of Europe
9.2.4.1. Market Revenue and Forecast, by Application (2016-2027)
Chapter 10. Company Profiles
10.1. Langley Holdings plc
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. Amber Kinetics, Inc.
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. Stornetic GmbH
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. POWERTHRU
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Energiestro
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. VYCON, Inc.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Bc New Energy (Tianjin) Co., Ltd. (BNE)
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. Beacon Power, LLC
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. PUNCH Flybrid
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Kinetic Traction Systems, Inc.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers