Dublin, Feb. 02, 2024 (GLOBE NEWSWIRE) -- The "Flywheel Energy Storage Market Report by Application (Uninterruptible Power Supply (UPS), Distributed Energy Generation, Transport, Data Centers, and Others), and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
In an age where energy storage and uninterrupted power are of paramount importance, the flywheel energy storage market is experiencing a significant surge. This research illuminates the industry's current state and future potential, spotlighting key dynamics and prospective gains through 2028.
The industry reached a notable valuation of US$ 295.9 Million in 2022. The study projects a robust growth trajectory with an expected market size of US$ 474.9 Million by 2028, advancing at a CAGR of 8.2% during the forecast period. This growth is fueled by a confluence of factors such as the burgeoning renewable energy sector, imperative for uninterrupted power supply (UPS), and the technology's integration across diverse industries.
Flywheel Energy Storage Market Trends
- Application Breakdown: Within the market, the UPS sector prevails as the most substantial application segment. Other applications include distributed energy generation, transportation, data centers, and more.
- Regional Market Insights: Analyses of global markets highlight North America's lead, driven by factors such as increasing renewable energy demand, smart grid adoption, and a rising preference for electric vehicles.
- Competitive Landscape: A snapshot of the competitive scenario reflects diverse participations ranging from established industry giants to dynamic potential entrants.
Flywheel Energy Storage's Role Across Industries: The technology continues to garner attention across various sectors, showcasing its versatility in applications from automotive and power grid balance to aerospace and isolation grid power supply. Its integration into regenerative braking systems in electric vehicles underpins both its technological relevance and environmental impact, addressing growing global concerns about sustainable energy practices.
Key Takeaways from the Flywheel Energy Storage Market Analysis
- The report addresses the expansive application portfolio of flywheel energy storage systems.
- Insight into the regional markets, with North America underscored as the industry stronghold.
- Expert evaluation of market drivers, augmenting growth for stakeholders and investors.
The in-depth study offers an enlightening perspective on the prevailing trends and the anticipated evolution of the flywheel energy storage market. In the quest for eco-friendly and reliable power solutions, flywheel energy storage stands prominent. As trends shift towards clean energy and the need for high-efficiency power systems grows, the flywheel energy storage market is poised for unprecedented expansion, making this report a must-read for industry stakeholders and participants eager to stay ahead in this burgeoning field.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 139 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $295.9 Million |
| Forecasted Market Value (USD) by 2028 | $474.9 Million |
| Compound Annual Growth Rate | 8.2% |
| Regions Covered | Global |
Companies Mentioned
- ABB Ltd.
- Adaptive Balancing Power GmbH
- Amber Kinetics Inc.
- Beacon Power LLC
- Calnetix Technologies LLC
- Energiestro
- Langley Holdings plc
- Oxto Energy
- Phillips Service Industries Inc.
- Schwungrad Energie Limited
- Siemens Aktiengesellschaft
- Stornetic GmbH
- Teraloop Oy
For more information about this report visit https://www.researchandmarkets.com/r/nab7mc
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