Middle East & Africa Flywheel Energy Storage System Market Size & Outlook
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MEA flywheel energy storage system market highlights
- The MEA flywheel energy storage system market generated a revenue of USD 10,927.0 thousand in 2023.
- The market is expected to grow at a CAGR of 9.5% from 2024 to 2030.
- In terms of segment, distributed energy generation was the largest revenue generating application in 2023.
- Distributed Energy Generation is the most lucrative application segment registering the fastest growth during the forecast period.
MEA data book summary
| Market revenue in 2023 | USD 10,927.0 thousand |
| Market revenue in 2030 | USD 20,576.4 thousand |
| Growth rate | 9.5% (CAGR from 2023 to 2030) |
| Largest segment | Distributed energy generation |
| Fastest growing segment | Distributed Energy Generation |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD thousand |
| Market segmentation | UPS, Distributed Energy Generation, Transport, Data Centers |
| Key market players worldwide | Longfor Group Holdings Ltd, Magic Software Enterprises Ltd, Phillips 66, TotalEnergies SE, Volcon Inc, Tianjin Port Development Holdings Ltd, Kinetic Development Group Ltd |
Other key industry trends
- In terms of revenue, MEA region accounted for 2.5% of the global flywheel energy storage system market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 86,698.7 thousand by 2030.
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Flywheel Energy Storage System Market Scope
Flywheel Energy Storage System Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Kinetic Development Group Ltd | View profile | 1871 | Dafanpu Coal Mine, Majiata Village, Xuejiawan Town Zhunge’er Banner, Ordos City Inner Mongolia, Ordos City, China, People's Republic of | https://www.kineticme.com |
| Volcon Inc | View profile | 36 | 3121 Eagles Nest Street, Suite 120, Round Rock, TX, United States, 78665 | https://www.volcon.com |
| Magic Software Enterprises Ltd | View profile | 3628 | Yahadut Canada 1 Street, Or Yehuda, Or Yehuda, Israel, 6037501 | https://www.magicsoftware.com |
| Longfor Group Holdings Ltd | View profile | 29116 | No. 8 Beiyuan Street, Building 6, Beijing Longfor Blue Engine Industrial Park, Beijing, China, People's Republic of, 100012 | https://www.longfor.com |
| Phillips 66 | View profile | 14000 | 2331 CityWest Boulevard, Houston, TX, United States, 77042 | https://www.phillips66.com |
| Tianjin Port Development Holdings Ltd | View profile | 5727 | Times Square, 1 Matheson Street, Suite 3904-3907, 39th Floor, Tower Two, Causeway Bay, Hong Kong, Hong Kong | http://www.tianjinportdev.com |
| TotalEnergies SE | View profile | 100000 | 2, Place Jean Millier, La Defense 6, Courbevoie, France, 92400 | https://www.totalenergies.com |
Middle East & Africa flywheel energy storage system market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to flywheel energy storage system market will help companies and investors design strategic landscapes.
Distributed energy generation was the largest segment with a revenue share of 30.61% in 2023. Horizon Databook has segmented the Middle East & Africa flywheel energy storage system market based on ups, distributed energy generation, transport, data centers covering the revenue growth of each sub-segment from 2018 to 2030.
The MEA accounted for around 2.4% of the global flywheel energy storage systems market in 2019. Although this region does not have too many players of flywheel energy storage systems, some of the major companies cater to this region.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa flywheel energy storage system market , including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa flywheel energy storage system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Flywheel Energy Storage System Market Outlook Share, 2023 & 2030 (US$K)
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