Flywheel Energy Storage System Market to Witness 8.2% CAGR Boom Through 2023-28 – Latest MarkNtel Advisors Report
Market Overview: Global Flywheel Energy Storage System Market
MarkNtel Advisors, a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. Recently published a report on the Global Flywheel Energy Storage System Market and provide your business with the latest market trends and analysis from our reports to make informed decisions and stay ahead of the competition.
Flywheel Energy Storage System Market Insights 2023-28
The Global Flywheel Energy Storage System market is expected to grow at a CAGR of around 8.2% during the forecast period, 2023-28.
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Top Players in the Flywheel Energy Storage System Market:
- ABB Ltd.
- Beacon Power LLC
- STORNETIC GmbH
- Langley Holdings Plc (Active Power Inc.)
- Amber Kinetics Inc
- Calnetix Technologies LLC (VYCON Inc)
- Energiestro
- Kinetic Traction Systems Inc.
- Siemens AG
- Bc New Energy (Tianjin) Co., Ltd. (BNE)
- Tesla, Inc.
- Piller Power System
- WattsUp Power A/S
- Xun Power Corp
- Levisys
- Others
Segmentation Analysis of Flywheel Energy Storage System Market
Flywheel Energy Storage System Market exactly assesses and highlights significant trends and influencing factors within each segment. The comprehensive analysis extends its predictions for the period spanning 2023-28, focusing on the national landscape. The market is exactly categorized based on this analysis, providing valuable insights into its various facets.
-By Application
- Frequency Regulation
- Uninterruptible Power Supplies (UPS)
- Distributed Energy Generation (DEG)
Among all, Uninterruptible Power Supplies (UPS) demonstrated a noticeable growth with a substantial market share during the historical period and is anticipated to prevail in the same trend during the forecast period. The dominance predominantly attributes to the mounting need for adequate power backup solutions, particularly in developing nations where power outages are frequent. As such, power supply interruptions and fluctuations have called for more energy storage systems like UPS to tackle and minimize such disruptions in commercial sectors in the past few years. This factor undoubtedly has compelled the key players to invest heavily and bring more innovative products into the Global Flywheel Energy Storage System Market, thereby cushioning the industry growth in the coming years.
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-By Type
- Solid Steel
- Carbon Composite
-By End User
- Transport
- Data Centre
- Aerospace and Defence
- Power & Utility
- Others (Marine, Manufacturing)
A Comprehensive Geographical Analysis:
-By Region
- North America
- South America
- Europe
- The Middle East and Africa
- Asia-Pacific
North America acquired a sizable market share in the historical period and is anticipated to make significant contributions to the overall market expansion in the coming years. This dominance is backed by the mounting demand for UPS systems, to maintain a continuous supply of power necessitated by commercial and industrial applications. Likewise, a substantial surge in demand for data centers intended for storing large amounts of data has led to more adoption of flywheel energy storage systems across the region.
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MarkNtel Advisors is a leading market research company, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
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