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GLOBAL FLYWHEEL ENERGY STORAGE MARKET FORECAST 2020-2028

GLOBAL FLYWHEEL ENERGY STORAGE MARKET FORECAST 2020-2028

  • February 2020
  • 143 pages
  • ID: 5129394
  • Format: PDF
  • By Inkwood Research

Summary

Table of Contents

KEY FINDINGS
The global flywheel energy storage market is anticipated to grow at a CAGR of 7.50% in terms of revenue during the forecast period of 2020-2028. In terms of volume, the global market is set to record a CAGR of 8.32%. The factors propelling the market growth are increasing the use of flywheels in the utility sector, growing adoption of renewable energy, and rising demand for uninterrupted power supply.

MARKET INSIGHTS
Flywheel energy storage is an energy storage system in which electric energy can be generated by spinning the flywheel throughout the day.Europe and North America are emphasizing the adoption of renewable energy for transportation, grid storage, and others.

Rising adoption of renewable energy and high penetration of solar energy creates a huge demand for storage systems of renewable energy.A continuous power supply is of prime importance in commercial sectors.

In the US, about $50 billion are lost annually due to power failures or related problems.Flywheel energy storage UPS systems can last up to 20 years.

Flywheel technology is increasingly used in the utility sector as it stores excess energy efficiently and quickly than traditional generation sources. The market challenges faced by the market are increasing popularity of battery storage systems, high cost of installation, and low tensile strength of the outer binding cover of a cast metal flywheel.

REGIONAL INSIGHTS
The global flywheel energy storage market is geographically analyzed on the basis of the markets located across the regions of North America, Europe, Asia Pacific, and the Rest of the World.As of 2019, the region of North America holds the largest market share in terms of revenue and continues the trend by the end of the estimated period.

This is attributed to the growing demand for UPS systems to maintain a continuous power supply to the commercial and industrial sectors.Europe is projected to be the fastest-growing market region in terms of revenue.

The major factor boosting the market growth is the increasing investments from the public, private, and government agencies in the region.

COMPETITIVE INSIGHTS
Some of the major players registering their presence in the market are Beacon Power, LLC, The Piller Group GmbH, ABB, Ltd., Adaptive Balancing Power, Active Power, etc.

Our report offerings include:
•Explore key findings of the overall market
•Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges)
•Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions
•Market Segmentation cater to a thorough assessment of key segments with their market estimations
•Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share
•Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc.
•Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc.
•Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments

Companies mentioned
1.ACTIVE POWER
2.AMBER KINETICS, INC.
3.BEACON POWER, LLC
4.CALNETIX TECHNOLOGIES, LLC
5.ACUMENTRICS INC.
6.PILLER GROUP GMBH
7.POWERTHRU
8.TEMPORAL POWER LTD
9.ABB LIMITED
10.ADAPTIVE BALANCING POWER
11.SCHWUNGRAD ENERGIE LTD.
12.STORNETIC
13.AMERICAN MAGLEV TECHNOLOGY

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