Flywheel Energy Storage Market to grow by USD 200.38 million from 2022 to 2027, Growth opportunities led by Active Power Solutions Ltd. and Amber Kinetics Inc. - Technavio

NEW YORK, Sept. 6, 2023 /PRNewswire/ -- The flywheel energy storage market is estimated to grow at a CAGR of 9.13% between 2022 and 2027. The market size is forecast to increase by USD 200.38 million. The market is fragmented due to the presence of diversified international and regional companies. The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market companies also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Active Power Solutions Ltd., Amber Kinetics Inc., Beacon Power LLC, Calnetix Technologies LLC, ENERGIESTRO, FREQCON GmbH, Langley Holdings Plc, Omnes Energy, Oxto Ltd., POWERTHRU, PUNCH Flybrid, Revterra, Rotonix USA Inc., Schneider Electric SE, Schwungrad Energie, Siemens AG, Stantec Inc., STORNETIC GmbH, The Boeing Co., and VYCON Inc. are among some of the major market participants.The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Request FREE sample report 

Company Offering

• Active Power Solutions Ltd.- The company offers flywheel energy storage systems such as Cleansource Plus SMS, Cleansource Plus MMS, and Cleansource Plus UPS.
• Calnetix Technologies LLC - The company offers flywheel energy storage systems for UPS and runtime requirements.
• Amber Kinetics Inc. - The company offers flywheel energy storage systems for ancillary services, energy arbitrage, and energy firming.

Growth in the data center construction market is a key factor driving market growth. The growing demand for cloud services and the need for digitization are driving the growth of data centers globally. Developed countries such as the US and the UK are experiencing significant expansion. Google, Microsoft, AWS, and CSP are expanding through large-scale installations. Colocation and telecommunications service providers contribute to this. The use of multiple inverters is leading to an increase in the use of flywheel ESS  for load balancing due to their maintenance advantages over battery-powered inverters. Hence, these factors are expected to drive market growth during the forecast period. 

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession 
• Global competitiveness and key competitor positions 
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial  - buy the report!

Major Trend- Growth in the advanced energy storage market is a major trend in the market.  

Significant Challenge- The growing adoption of lithium-ion batteries in UPS systems is a significant challenge restricting market growth. For more details understanding of Market Dynamics download FREE Sample reports

Flywheel Energy Storage Market 2023-2027: Segmentation

The Flywheel Energy Storage Market is segmented as below:

• Type 
• Composite Rims
• Steel Rims
• Technology 
• UPS
• Energy Services
• Transportation
• Others
• Geography 
• North America
• Europe
• APAC
• Middle East And Africa
• South America

The market share growth by the composite rims segment will be significant during the forecast period. The composite rim represents an important variation of the flywheel's ability to store energy, which is typically made from durable yet lightweight carbon fiber composites. Built for strength, these rims facilitate high rotational speeds and efficient energy retention. The use of composite materials offers advantages such as increased performance, rapid responsiveness, and minimal maintenance requirements in flywheel energy storage systems. Hence, these factors are expected to drive segment growth during the forecast period. For insights on global, regional, and country-level parameters with growth opportunities, historic (2017 to 2021) & forecast (2023-2027)  – Download a FREE Sample Report

Flywheel Energy Storage Market 2023-2027: Key Highlights

• CAGR of the market during the forecast period 2023-2027
• Detailed information on factors that will assist flywheel energy storage market growth during the next five years
• Estimation of the flywheel energy storage market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the flywheel energy storage market
• Analysis of the market's competitive landscape and detailed information on companies
• Comprehensive details of factors that will challenge the growth of the flywheel energy storage market, companies. Gain instant access to 17,000+ market research reports.  Technavio's SUBSCRIPTION platform

Related Reports

The advanced energy storage systems (AESS) market is estimated to grow at a CAGR of 8.52% between 2022 and 2027. The market size is forecast to increase by USD 6,703.96 million. 

The flow battery market is estimated to grow at a CAGR of 22.16% between 2022 and 2027. 

Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Technology

7 Market Segmentation by Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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SOURCE Technavio