Global Flywheel Energy Storage System

Global Flywheel Energy Storage System Market Research Report: Forecast (2023-2028)

By Type (Solid Steel, Carbon Composite), By Application (Frequency Regulation, Uninterruptible Power Supplies (UPS), Distributed Energy Generation (DEG)), By End User (Transport, Data Centre, Aerospac Read more

  • Energy
  • Nov 2022
  • 190
  • EN44030

Market Definition

A flywheel comprises a motor-generator rolling element bearing in a typical setup. Flywheel energy storage (FES) systems perform by spinning a flywheel at a high frequency and storing energy in the form of rotary energy in the machine. Once the energy is captured, the fly-rotational wheel's speed is reduced by applying the energy savings principle. In order to minimize the energy loss and friction produced, the vacuum chamber is employed to place the float wheel and the engine generator.

The first generation of flywheel energy storage systems features a large steel flywheel rotating on mechanical lockers. However, modern FES systems comprise high-performance carbon-fiber rotors suspended by magnet bearings and rotating at speeds ranging from 20,000 to over 50,000 rpm in a vacuum environment. These flywheels can reach their energy capacity significantly faster than any other form of storage in a couple of minutes.

Market Insights

The Global Flywheel Energy Storage System Market is projected to grow at a CAGR of around 8.2% during the forecast period, i.e., 2023-28. The overall market expansion can be attributed primarily to the growing automobile industry paired with intensifying energy storage market. Besides, substantial investment in the energy sector is another crucial factor anticipated to augment the market growth in the coming years. According to the United Nations Sustainable Energy for All initiative, access to modern electric power is likely to ramp up with around USD 45,000 million in investment. In a bid to utilize existing and new energy resources in a better way, Flywheel energy storage systems are sure to make part of these investments.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 8.2%
Regions Covered North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific
South America: Brazil, Argentina, Rest of South America
Middle East & Africa: The UAE, Saudi Arabia, South Africa, Rest of MEA
Key Companies Profiled ABB Ltd., Beacon Power LLC, STORNETIC GmbH, Langley Holdings Plc (Active Power Inc.), Amber Kinetics Inc., Calnetix Technologies LLC (VYCON Inc), Energiestro, Kinetic Traction Systems Inc., Siemens AG, Bc New Energy (Tianjin) Co., Ltd. (BNE), Tesla, Inc., Piller Power System, WattsUp Power A/S, Xun Power Corp, Levisys., Others
Unit Denominations USD Million/Billion

 

Moreover, in an attempt to promote healthy competition among players, certain guidelines have been enforced by the industrial standards that act as critical references to be used while designing, testing, installing, manufacturing, and maintenance of flywheel power systems. The guidelines not just ensure compliance and minimalist liability but also collectively downsize overall costs by eliminating wasted time and effort to develop high-quality flywheel energy storage systems.

Another factor backing the frequent adoption of flywheel energy storage systems is their higher efficiency and longer life span, facilitating market expansion in the coming years. Moreover, extensive investment by the key players in research and development to tackle the high maintenance costs associated with the technology is expected to improve revenue shares. As such, manufacturers are focusing on enhancements regarding geometry and metallurgical qualities of flywheel rotors, as well as the chemical composition and refinement of low-carbon steel alloy processes. Thus, it is anticipated to offer lucrative growth opportunities for the market during the forecast period. For instance,

  • Chakratec, headquartered in Tel Aviv, Israel, has devised new kinetic energy storage systems. The company has incorporated flywheels to ensure fast charging even in grid-constrained regions, enabling customers to save ample money on expensive upgraded transmission and distribution (T&D) infrastructure.

  1. Introduction
    1. Research Process
    2. Assumption
    3. Market Segmentation
    4. Market Definition
  2. Executive Summary
  3. Global Flywheel Energy Storage System Market Outlook
    1. Critical Comparison of Energy Storage Systems
    2. Government Initiatives (Grants, Funding, Investments, Subsidies, Laws & Policies), By Countries
    3. The US
    4. The UK
    5. Germany
    6. France
    7. China
    8. India
    9. Others
  4. Global Flywheel Energy Storage System Market Regulation Policy
  5. Global Flywheel Energy Storage System Market Porters Five Force Analysis
  6. Global Flywheel Energy Storage System Market Trends & Insights
  7. Global Flywheel Energy Storage System Market Dynamics
    1. Growth Drivers
    2. Challenges
  8. Global Flywheel Energy Storage System Market Hotspot and Opportunities
  9. Global Flywheel Energy Storage System Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues (USD Million)
      2. By Installed Capacity in MW
    2. Market Share and Analysis
      1. By Type
        1. Solid Steel
        2. Carbon Composite
      2. By Application
        1. Frequency Regulation
        2. Uninterruptible Power Supplies (UPS)
        3. Distributed Energy Generation (DEG)
      3. By End User
        1. Transport
        2. Data Centre
        3. Aerospace and Defence
        4. Power & Utility
        5. Others (Marine, Manufacturing) 
      4. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East and Africa
        5. Asia-Pacific
      5. By Company
        1. Competition Characteristics
        2. Revenue Shares
  10. North America Flywheel Energy Storage System Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues (USD Million)
      2. By Installed Capacity in MW
    2. Market Share and Analysis
      1. By Application
      2. By End-User
      3. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    4. Canada Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    5. Mexico Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
  11. South America Flywheel Energy Storage System Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues (USD Million)
      2. By Installed Capacity in MW
    2. Market Share and Analysis
      1. By Application
      2. By End-User
      3. By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    3. Brazil Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    4. Argentina Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
  12. Europe Flywheel Energy Storage System Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1.  By Revenues (USD Million)
      2. By Installed Capacity in MW
    2. Market Share and Analysis
      1. By Application
      2. By End-User
      3. By Country
        1. Germany
        2. The UK
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    3. Germany Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    4. The UK Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    5. France Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    6. Italy Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    7. Spain Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
  13. The Middle East and Africa Flywheel Energy Storage System Market Outlook, 2018 – 2028
    1. Market Size and Analysis
      1. By Revenues (USD Million)
      2. By Installed Capacity in MW
    2. Market Share and Analysis
      1. By Application
      2. By End-User 
      3. By Country
        1. The UAE
        2. Saudi Arabia
        3. South Africa
        4. Rest of The Middle East and Africa
    3. The UAE Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    4. Saudi Arabia Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    5. South Africa Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
  14. Asia-Pacific Flywheel Energy Storage System Market Outlook, 2018- 2028
    1. Market Size and Analysis
      1. By Revenues (USD Million)
      2. By Installed Capacity in MW
    2. Market Share and Analysis
      1. By Application
      2. By End-User 
      3. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Rest of Asia Pacific
    3. China Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    4. Japan Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    5. India Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
    6. South Korea Flywheel Energy Storage System Market Outlook, 2018- 2028
      1. Market Size and Analysis
        1. By Revenues (USD Million)
        2. By Installed Capacity in MW
      2. Market Share and Analysis
        1. By End User
  15. Global Flywheel Energy Storage System Market Key Strategic Imperatives for Success and Growth
  16. Competitive Outlook
    1. Competition Matrix
      1. Application Portfolio
      2. Brand Specialization
      3. Target Markets
      4. Target Applications
      5. Research & Development
      6. Strategic Alliances
      7. Strategic Initiatives
    2. Company Profiles (Business Description, Application Segments, Business Segments, Financials, Strategic Alliances/ Partnerships, Future Plans)
      1. ABB Ltd.
      2. Beacon Power LLC
      3. STORNETIC GmbH
      4. Langley Holdings Plc (Active Power Inc.)
      5. Amber Kinetics Inc
      6. Calnetix Technologies LLC (VYCON Inc)
      7. Energiestro
      8. Kinetic Traction Systems Inc.
      9. Siemens AG
      10. Bc New Energy (Tianjin) Co., Ltd. (BNE) 
      11. Tesla, Inc.
      12. Piller Power System 
      13. WattsUp Power A/S 
      14. Xun Power Corp 
      15. Levisys
      16. Others
  17. Disclaimer
Flywheel Energy Storage System Market Segmentation Slide
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