A new market research report by Transparency Market Research (TMR), titled “Flywheel Energy Storage Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2024,” presents a detailed overview of the global flywheel energy storage market. The report has been composed after extensive primary research via expert interviews and surveys, followed by secondary research conducted through reputable paid sources, trade journals, and industry body databases. Analyzing the market for global trends and latest developments, this report also presents a forecast of the market’s state over the years between 2016 and 2024. This report has been developed after carefully monitoring the advances in flywheel energy storage market for the past few years and concludes that there is a rising demand for uninterrupted power supply, globally.
Flywheels store electric energy in the form of kinetic energy which can also be described as “energy of motion.” A spinning mass, called a rotor in this case, spins in a nearly frictionless enclosure to conserve kinetic energy when connected to a power source and then releases it in the form of electric energy whenever and wherever required (like a generator).
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This report reveals that in industries where consistent power supply is an absolute necessity, flywheels can act as an ideal uninterrupted power supply (UPS). This factor is noted as the leading driver in the market for flywheel energy storage. Moreover, usability of flywheel storage devices in transportation and distributed power generation should not be ignored. The report also illustrates how longevity is one of the major benefits of flywheels energy storage as they can run for thousands of complete charge-discharge cycles. Moreover, these flywheels need very low maintenance and are friendly to the environment.
This TMR report explores all the important elements and segments of the flywheels energy storage market, listing all the growth opportunities and lucrative application domains. Major challenges and key trends seen in the market are also covered, analyzing the overall development of the global market from 2016 through 2024.
Geographically, this report segments the global flywheel energy storage market on the basis of North America (U.S & Canada), Latin America (Mexico, Brazil, Peru, and Chile), Western Europe (Germany, U.K, France, Spain, Italy, Belgium, Netherlands, Luxembourg, and Nordic countries), Eastern Europe (Poland and Russia), Asia Pacific (China, India, Australia, New Zealand, Japan, and ASEAN) and the Middle East and Africa (GCC, North Africa, and Southern Africa). The report informs that Asia Pacific has the largest growth potential in this market due to the rapid pace of industrialization, rising population and increased investments in the region’s emerging economies.
According to the report, some of the major vendors in the global market of flywheel energy storage are EnSync Energy, Calnetix Technologies, Beacon Power, Active Power, Pentadyne Power Corporation, Vycon Energy, Temporal Power Ltd, and Kinetech Power Company.
