Global Flywheel Energy Storage (FES) Systems Market Overview:
Flywheel energy storage (FES) system uses an electric motor to spin a flywheel at a high speed, converting electrical power into mechanical power and storing it, and flywheels drive generators to produce power as required. Due to the increasing demand for backup energy sources and growth in the car industry, the flywheel energy storage system market is expected to expand in the future. In the forecasted timeframe, the government's high-level initiative to encourage advanced energy storage would fuel the industry. Some of the players profiled in the study are Active Power Inc. (United States), Beacon Power (United States), Calnetix Technologies, LLC (United States), Acumentrics (United States), Piller Group GmbH (Germany), POWERTHRU (United States), PowerTree Pvt.Ltd (India), Siemens AG (Germany), Langley Holdings plc (United Kingdom) and VYCON (United States).
On the basis of geography, the market of Flywheel Energy Storage (FES) Systems has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by , the sub-segment i.e. will boost the Flywheel Energy Storage (FES) Systems market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Rapid Industrialisation and High Demand for Back-Up Power Sources such as Unintrumpted Power Supply in Emerging Countries
- Growth in Automobile Sector in Developing Countries
- Government Initiative for Advanced Energy Storage
- High Initial Investment Cost
- Upsurging Data Center Construction in Both Developed and Developing Countries
- Growing Commercial Centers
- Availability of Other Storage Devices such as Battery Storage
Key Market Developments:
In May 2019 – NRStor Inc. announced it has completed the acquisition of a 5MW connected energy storage facility. With this acquisition, NRStor expands its flywheel energy storage portfolio, which already includes Canada’s first grid-scale flywheel energy storage facility in Minto, Ontario.
In Aug 2019, AdD HyStor Test Phase Launched by EU Commissioner Hogan.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Flywheel Energy Storage System Manufacturers, Flywheel Energy Storage System Suppliers/Distributors, Government and Research Organizations, Grid Operators, Technology Standard Organizations and Potential Investors
Major Objectives Focused through this Study
To define, describe, and forecast the Global Flywheel Energy Storage (FES) Systems market on the basis of product [Conventional Steel Rotor Flywheel and Advanced Composite Flywheel] , application [Uninterruptible Power Supply (UPS), Transportation, Distributed Energy Generation, Motor Sports, Data Centers and Others], key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Flywheel Energy Storage (FES) Systems market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Flywheel Energy Storage (FES) Systems industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Vendors which are also part of the research are Boeing (United States), Amber Kinetics (United States), Kinetech Power Systems (Mexico) and NRStor Inc.( Canada).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Flywheel Energy Storage (FES) Systems market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.