Flywheel Energy Storage Market Research Report: By Application (Uninterruptible Power Supply, Distributed Energy Generation), End User (Automotive, Data Center, Aerospace, Defense) - Global Industry Revenue Estimation to 2030

Market Overview

The global flywheel energy storage market was valued around $300.0 million in 2020. This is driven by the increasing need for electricity in remote places, rising government policies related to the production of electricity, and surging need to change the traditional energy generation methods, which are currently expensive. Moreover, flywheel storage systems are a vital necessity to aggregate traditional generating plants, in order to meet the booming energy demand, solve power quality problems, such as automatic resets, data errors, equipment/circuit board failures, and limit carbon dioxide emissions.

In the beginning of 2020, COVID-19 began to spread, and it has infected millions of people worldwide, due to which the government of several countries implemented a complete lockdown, along with some other strict regulations. Thus, owing to the strict measures of lockdowns and limited operations, manufacturers across the world, including those in the flywheel energy storage market, have been negatively impacted.

Due to Increasing Demand in Electricity Supply, UPS Category to Grow at Highest Rate

The uninterrupted power supply (UPS) category accounted for the major share in the flywheel energy storage market in 2020, and it is expected to attain significant growth during the forecast period, based on application. This will primarily be due to the increase in the demand for a continuous electricity supply across all sectors, in order to operate electrical devices and equipment without breaks. Moreover, UPSs are witnessing a high demand due to the surging need for effective power backup alternatives, especially in developing regions, which witness frequent power outages.

Data Centers Held Substantial Share owing to Their Growing Importance for Information Technology (IT) Firms

The data center category held the larger share in the flywheel energy storage market in 2020, based on end-user. Moreover, the category is expected to retain its leading position in the coming years. This will be due to large IT corporations, including Google, rapidly deploying flywheels at their massive data centers, the number of which itself is increasing. In the event of a transient power outage, flywheels provide instant power to the connected systems, thereby giving backup generators time to start.

Due to Growing Number of Flywheel Projects, North America Held Largest Share

Geographically, North America held the dominating share in the flywheel energy storage market in 2020, and it will continue to dominate the market in the coming years. This can be attributed to the growing number of flywheel projects to conserve power across the region. Moreover, flywheels are being connected to renewable energy sources to ensure that the intermittent nature of renewable energy can be made more consistent.

The Asia-Pacific (APAC) flywheel energy storage market is expected to witness a significant growth rate during the forecast period owing to the increasing demand for a continuous power supply, along with the government efforts to supply clean energy.

Deployment of Flywheels for Military Operations Is Key Trend in Market

The demand for flywheels for powering military operations and ground vehicles, as well as weapons, navigation, communications, and their associated intelligent systems, is increasing. Vehicles, systems as well as the different types of weapons in the military require energy to respond uninterruptedly. Here, flywheels appear as an appropriate energy storage technology. Moreover, a flywheel energy storage system improves the system stability and assists in the penetration of the current in power systems. Therefore, the electrification of military systems is the major trend in the market for flywheel energy storage systems.

Increasing Electricity Demand Major Factor in Growth of Market

Brazil, Russia, India, China, and South Africa (BRICS) and other developing countries that are undergoing rapid industrialization are the major consumers of energy. Flywheel storage systems are a vital necessity to aggregate traditional generating plants, in order to meet the rising energy demand and supplement intermittent RES for their integration into the electrical network. Moreover, because of the increasing demand for backup power sources, such as UPSs, and the integration of intermittent power sources, such as microgrids, the demand for the flywheel energy storage technology is booming. Thus, the high demand for electricity contributes in the growth of the market for flywheel energy storage systems.

Explore more about this report - Request free sample

Market Players Are Involved in Acquisitions and Product Launches to Gain Significant Position

In recent years, players in the global flywheel energy storage industry have been involved in acquisitions and product launches in order to attain a significant position. For instance,

• In September 2019, Active Power Inc. launched CLEANSOURCE PLUS, a battery-free UPS that offers significantly more power and cost savings per kilowatt.
• In May 2019, NRStor Inc. (NRStor), a developer of energy storage projects, announced that it has completed the acquisition of a 5-Megawatt (MW) connected energy storage facility located in Clear Creek, Ontario. The facility is optimally located adjacent to a 20-MW wind farm and existing Hydro One electrical infrastructure.

Major Players in Flywheel Energy Storage Market Are:

Market Size Breakdown by Segments

The flywheel energy storage market report offers comprehensive market segmentation analysis along with market estimation for the period 2015-2030.

Based on Application

• Uninterruptible Power Supply (UPS)
•  Distributed Energy Generation (DEG)

Based on End User

• Automotive
• Data Center
• Aerospace
• Defense

Geographical Analysis

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
• Asia-Pacific (APAC)
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America (LATAM)
  • Brazil
  • Mexico
• Middle East and Africa (MEA)
  • Saudi Arabia
  • South Africa