Global Flywheels Market

Flywheels Market Size, Share, Growth Analysis, By Product(Transportation, Energy Storage, Automotive, Aerospace & Defense), By Type(Steel Rotor, Composite Rotor, Carbon Fiber Rotor and Others), By Region - Industry Forecast 2024-2031

Report ID: SQMIG55F2039 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 65 | Figures: 77

Flywheels Market Competitive Landscape

The market players are focusing on developing advanced flywheel energy storage systems that offer high energy efficiency, longer cycle life, and improved performance. They are also investing in research and development activities to develop next-generation flywheel energy storage systems that can meet the increasing demand for energy storage solutions.

Flywheels Market Top Player’s Company Profiles

  • Pentadyne Power Corporation (United States)
  • VYCON Inc. (United States)
  • ABB Ltd. (Switzerland)
  • Powerthru (Ireland)
  • Amber Kinetics Inc. (United States)
  • Teraloop Oy (Finland)
  • Piller Group GmbH (Germany)
  • Temporal Power Ltd. (Canada)
  • Calnetix Technologies, LLC (United States)
  • Flywheel Energy Storage (FES) GmbH (Germany)
  • STORNETIC GmbH (Germany)
  • Kinetic Traction Systems (United States)
  • Rotonix USA, Inc. (United States)
  • L3 Harris Technologies, Inc. (United States)
  • ST Kinetics Ltd. (Singapore)
  • Vycon Energy, Inc. (United States)
  • Torotrak plc (United Kingdom)
  • Freqcon GmbH (Germany)
  • Schwungrad Energie Ltd. (India)

Flywheels Market

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FAQs

Flywheels Market size was valued at USD 330.40 billion in 2021 and is poised to grow from USD 360.80 billion in 2022 to USD 668.07 billion by 2030, at a CAGR of 9.2% during the forecast period (2023-2030).

The market players are focusing on developing advanced flywheel energy storage systems that offer high energy efficiency, longer cycle life, and improved performance. They are also investing in research and development activities to develop next-generation flywheel energy storage systems that can meet the increasing demand for energy storage solutions. 'Beacon Power LLC (United States)', 'Active Power Inc. (United States)', 'Pentadyne Power Corporation (United States)', 'VYCON Inc. (United States)', 'ABB Ltd. (Switzerland)', 'Siemens AG (Germany)', 'Powerthru (Ireland)', 'Amber Kinetics Inc. (United States)', 'Teraloop Oy (Finland)', 'Piller Group GmbH (Germany)', 'Temporal Power Ltd. (Canada)', 'Calnetix Technologies, LLC (United States)', 'Flywheel Energy Storage (FES) GmbH (Germany)', 'STORNETIC GmbH (Germany)', 'Kinetic Traction Systems (United States)', 'Rotonix USA, Inc. (United States)', 'L3 Harris Technologies, Inc. (United States)', 'ST Kinetics Ltd. (Singapore)', 'Vycon Energy, Inc. (United States)', 'Torotrak plc (United Kingdom)', 'Freqcon GmbH (Germany)', 'Schwungrad Energie Ltd. (India)'

Many governments around the world are implementing policies and incentives to promote energy efficiency and reduce greenhouse gas emissions. Flywheel energy storage systems are a sustainable and efficient energy storage solution that can help to support these initiatives.

The development of smart grid technology is driving the demand for energy storage solutions that can respond quickly to changes in supply and demand. Flywheel energy storage systems can play a significant role in supporting the smart grid by providing fast and reliable energy storage.

From 2021 to 2028, the region is expected to dominate at a CAGR of 7.5%. Flywheel energy storage systems currently have the largest market in North America, with the United States being the dominating nation in the region. The expansion of the flywheels market in North America is being driven by the rising demand for energy storage solutions to enable the integration of renewable energy sources and the requirement for dependable backup power in important facilities such as hospitals and data centers.

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Global Flywheels Market

Report ID: SQMIG55F2039

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