The global flywheel energy storage market size is anticipated to be valued at USD 479.3 million by 2025, according to a new report by Radiant Insights, Inc. It is anticipated to expand at a CAGR of 8.9% during the forecast period. Growing energy storage and automobile industries is expected to drive this growth.
Flywheel system accumulate energy and use it to deliver continuous power output where energy source is not continuous. In this system, electric energy can be generated by spinning the flywheel, which makes it an ideal solution in regulating supply. As compared to a solar photovoltaic cell or wind turbine, flywheels can produce energy throughout the day.
Download Free Sample Report @ https://www.radiantinsights.com/research/flywheel-energy-storage-market/request-sample
On the basis of application, the market is segmented into UPS, distributed energy generation, transport, data centers, and others. Data center is the largest application segment due to the growing demand for energy storage devices to overcome the risk of interruptions at the main power supply. The segment held around 44.0% of the global market share in 2018 and is expected to grow significantly over the forecast period.
High power density, long life cycle, and no degradation over time are some of the properties that work in favor of flywheel energy storage systems in vehicles. Growing automobile and transport industries are expected to drive this market over the forecast period. Transport segment is projected to register a CAGR of 10.6% over the forecast period.
Growing demand for Uninterruptible Power Supply (UPS) from end-use industries is expected to have a positive impact on the market growth. The market is consolidated with the presence of many small- and large-scale manufacturers. These players adopt strategies such as mergers and acquisitions, expansions, new product developments, along with joint ventures and collaborations, to increase their market share.
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/flywheel-energy-storage-market
Further key findings from the report suggest:
• U.S. is projected to expand at a CAGR of 9.6% in terms of revenue over the forecast period. U.S. is among the largest consumers of the market. Problems arising due to interruptions and fluctuations of power supply have resulted in increasing demand for UPS systems from the commercial sector of the country
• Germany, in terms of revenue, is projected to grow over USD 20.05 million by 2025. This growth can be attributed to rising demand from the automobile industry
• Japan is anticipated to reach USD 2.04 million in 2025, driven by growing demand from the transport and energy storage sectors
• Key players operating in the global flywheel energy storage market are Rotonix USA, Inc.; Calnetix Technologies, LLC; VYCON, Inc.; Powerthru; Amber Kinetics, Inc.; Active Power; Beacon Power, LLC; Piller Group GmbH; Power Tree; Temporal Power Ltd.; and Pentadyne Power Corporation.
Read all Reports of this category @ https://www.radiantinsights.com/catalog/power
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States