Flywheel Energy Storage System Market Size, Share & Trends Analysis Report By Application (UPS, Distributed Energy Generation, Transport, Data Centers), By Region, And Segment Forecasts, 2022 - 2030

Report Overview

The global flywheel energy storage system market size was valued at USD 326.43 Million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 9.8% from 2022 to 2030. The growing energy storage market and automobile industry, globally, have provided a boost to the market. Increasing demand from UPS and data center application segments has driven the market for flywheel energy storage systems, within this region. Similarly, distributed energy generation, which involves the generation of power at the place of consumption, is expected to result in augmented demand for the flywheel energy storage systems, within this region. The U.S. held the largest share among all countries in the North American flywheel energy storage market, in 2021.

The Energy Storage Association (ESA) looks after the energy storage affairs in this country. Problems arising due to the interruptions and fluctuations of power supply have resulted in an increase in demand for UPS systems from the commercial sector in the U.S. This has resulted in enhancing the market for UPS systems within the country.

Industrial standards and compliances are the critical references used in the design, testing, installation, manufacture, and maintenance of flywheel power systems. Following the guidelines, set forth by industrial standards and regulations ensures compliance, minimalist’s liability, and collectively lowers overall cost by eliminating wasted time and effort to develop high-quality flywheel energy storage systems.

The flywheel energy storage systems market in the U.S. is growing in accordance with the growing energy storage market in this country. Li-ion and lead-acid batteries are the most commonly used energy storage systems here. However, advantages of flywheel energy storage systems such as higher efficiency and longer life are projected to increase the demand for flywheel energy storage systems, within the country.

Application Insights

The others segment led the market and accounted for 44.74% share of the global revenue in 2021. Frequency regulation applications of flywheels are included in this segment. These applications are gaining importance due to the growing demand for uninterrupted power from commercial workstations and factories.

Uninterruptible power supply (UPS) is one of the major application areas of flywheel energy storage systems. Power failures can cause huge losses in businesses and commercial workstations. Flywheel UPS systems can be used to overcome the problems faced by sudden dips or glitches in electric and voltage supplies. Also, since this technology does not involve the use of fossil fuels, it is environmentally friendly.

Flywheels are used as intermediate energy storage systems for transport applications such as automobiles. Flywheel storage energy systems are more commonly used in Formula 1 cars and hybrid vehicles. However, manufacturers such as Maruti Suzuki have adopted this technology for passenger vehicles also.

Distributed energy generation involves the generation of power at the place of consumption. This method has several advantages such as elimination of cost, inefficiencies, and complexities related to power generation as compared to centrally generated power.

Further, distributed energy generation aids to provide faster power backup in case of natural disasters such as floods and earthquakes. This has been one of the major drivers for the deployment of distributed energy generation sources in areas, which are prone to natural disasters.

Regional Insights

North America dominated the global market in 2021 and accounted for the largest revenue share of more than 78.22%. The flywheel energy storage market in North America is dominated by the U.S. Batteries and flywheels are the most commonly used energy storage systems in this region. The North American flywheel energy storage market is characterized by growing demand for UPS systems, to maintain a continuous supply of power intended for commercial and industrial applications.

Similarly, the growing demand for data centers designed for storing large amounts of data has resulted in the growth of the flywheel energy storage market within this region. The growing energy storage market in this region is projected to play a huge role in the growth of the flywheel market, in this region.

The growing automobile industry, particularly in countries such as Germany and Italy are, further, increasing the demand for flywheel energy storage systems in Europe. Germany is known as the automobile and engineering hub of Europe. Some of the major automobile manufacturers such as Volkswagen, Mercedes Benz, and Porsche are headquartered in this country. Thus, the growing automobile industry is one of the biggest drivers of the flywheel energy storage market in Germany.

The UK is committed in making use of renewable sources for energy storage. This is evident from the fact that nearly two-thirds of the country’s energy storage capacity is completely dedicated to renewable energy sources including flywheel systems.

The UK flywheel energy storage consumption is expected to grow at a steady rate courtesy growing demand for energy storage systems in this country. Growing demand for data centers, which are projected to dominate the flywheel energy storage market, is expected to drive the market over the forecast period.

Key Companies & Market Share Insights

Industry players are practicing several growth policies such as strategic partnerships with other local market players, to set up flywheel energy storage systems across various countries. Such policies enable companies to improve their foothold in the global market. Some of the major manufacturers are exploring other markets and expanding their presence in emerging economies. Thus the companies are keenly looking at certain ways to grow their existence in untapped countries to enhance their market share. Some of the prominent players in the global flywheel energy storage system market include:

• Langley Holdings plc

• Amber Kinetics, Inc.

• Stornetic GmbH

• POWERTHRU

• Energiestro

• VYCON, Inc.

• Bc New Energy (Tianjin) Co., Ltd. (BNE)

• Beacon Power, LLC

• PUNCH Flybrid

• Kinetic Traction Systems, Inc.

Flywheel Energy Storage System Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the global Flywheel Energy Storage System Market report based on application and region:

• Application Outlook (Power Capacity, kW, Revenue, USD Million, 2019 - 2030)

  • UPS

  • Data Center

  • Distributed Energy Generation

  • Transport

  • Others

• Regional Outlook (Power Capacity, kW, Revenue, USD Million, 2019 - 2030)

  • North America

    • U.S.

  • Europe

    • Germany

    • U.K.

  • Asia Pacific

    • Japan

    • South Korea

  • Central and South America

    • Brazil

  • Middle East and Africa