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MarketResearch.biz announces publication of its most recently generated research report titled, “Global Flywheel Energy Storage Market By Type (Steel Rims And Composite Rims), By Application (Uninterrupted Power Supply, Distributed Energy Generation, Data Centers, and Others), and By Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa) - Global Forecast to 2027.” which offers a holistic view of the global flywheel energy storage market through systematic segmentation that covers every aspect of the target market.The global flywheel energy storage market is expected to value at nearly US$ 0.3 Bn in 2019, and is projected to register a CAGR of 10.2%. The first five-year cumulative revenue (2018–2022) is projected to be more than US$ 1.5 Bn, which is estimated to increase moderately over the latter part of the five-year forecast period.
Flywheel energy storage systems (FESS) use electric energy input which is stored in the form of kinetic energy. Flywheel energy storage systems employ kinetic energy stored in a rotating mass with very low frictional losses.
Global Flywheel Energy Storage Market: Market Dynamics
Increasing demand for these systems owing to its various features as compared to other options and effort made by various companies to offer enhanced products are expected to drive growth of the market to a significant extent.
However, high cost associated with the development of new storage facilities is one of the major factor expected to challenge growth of the global flywheel energy storage systems market.
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Global Flywheel Energy Storage Market: Market Forecast
The comprehensive research report comprises a complete forecast of the global flywheel energy storage market based on factors affecting the market and their impact in the foreseeable future. According to the forecast projections, revenue from the global flywheel energy storage market is estimated to expand at a CAGR of 10.2% over the forecast period.
Global Flywheel Energy Storage Market: Segmental Snapshot
The global flywheel energy storage market report has been segmented on the basis of type, application, and region. The type segment includes steel rims and composite rims. The application segment includes uninterrupted power supply, distributed energy generation, data centers, and others. The regions covered in the analysis include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
By Type:
Among the type segments, the composite rims segment is expected to register the highest CAGR of 9.8% over the forecast period
By Application:
Among the application segments, the distributed energy generation segment is expected to register the highest CAGR of 10.1% over the forecast period.
By Region:
Among the regions, the North America market is expected to register the highest CAGR of over 10.2% over the forecast period.
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Global Flywheel Energy Storage Market: Competitive Analysis
The research report on the global flywheel energy storage market includes profiles of major companies such as Beacon Power, LLC, Calnetix Technologies, LLC, EnSync, Inc., Temporal Power, Ltd., VYCON, Inc., STORNETIC GmbH, Piller Group GmbH, Melrose Industries PLC (GKN Hybrid Power Limited), Alstom SA, and Pentadyne Power Corporation.
The Global Flywheel Energy Storage Market: Global Industry, Size, Share, Growth, Trends, and Forecast: 2018–2027 report has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global flywheel energy storage market for 2017–2027.
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