“Flywheel energy storage systems“ market is likely to gain traction on account of increasing demand for energy for residential, commercial, and industrial purposes. The acquisition of 40 MW flywheel project in Rockland Capital was announced by Convergent Energy + Power on 22nd May 2018. This storage system is capable of transmitting 80 million watts of electricity in a fraction of a second. Innovations such as these are likely to bode well for the global flywheel energy storage market, predicts Fortune Business Insights in their new report. Energy is an important need for sustaining life and the demand for energy is a major factor boosting this market.
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The study conducted on flywheel energy storage market by Fortune Business Insights is titled, “Flywheel Energy Storage Market Size, Share and Global Trend By Application (Uninterruptible Power Supply (UPS), Transport, Data Centers, Others) and Geography Forecast till 2028”. The report offers an elaborate study of the global flywheel energy storage market with prime focus on growth drivers and restraints. It also highlights the current trends and opportunities in the market to help market players make new strategies to establish their presence in the competition.
The market highlights some of the major shareholders in the flywheel energy storage market. These companies include:
- VYCON Inc.
- Rotonix USA Inc.
- Temporal Power Ltd.
- EnSync Energy
- Convergent Energy + Power
- Piller Group GmbH
- Pentadyne Power Corporation
- Kinetech Power Company
- Power Tree
- Calnetix Technologies LLC
- Beacon Power LLC
- Amber Kinetics Inc
1. By Application
- Uninterruptible Power Supply (UPS)
- Data Centres
2. By Geography
- North America (USA, Canada and Rest of North America)
- Europe (UK, Germany, France, Scandinavia, Italy, Spain and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Argentina, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
Key Industry Development:
- 11th February 2019: Piller Group GmbH introduced its new rotary UPS (RUPS), UNIBLOCK UBT+ with POWERBRIDGE PB60+, that is used for storage devices of UPS applications, ideal for green solutions such as reduction of ongoing carbon emissions, reduction of pollution from wasted electricity, decrease in chemical toxic.
- 22nd May 2018: Convergent Energy + Power announced the acquisition of 40 MW flywheel project Rockland Capital, that can transmit 80 million watt of electricity in a fraction of second.
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Key Market Driver-
- Technological advancements in flywheel energy storage system
- Growth in automotive industry
- Rising demand for uninterrupted power supply
Key Market Restraint–
- High initial cost of implementation and maintenance
Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
Increasing use of smart grids and smart metering are likely to help for the better management of power services. Better infrastructural facilities are also expected to encourage growth in the market.
For more information in the analysis of this report https://www.fortunebusinessinsights.com/industry-reports/flywheel-energy-storage-market-100756
Major Table of Content for Flywheel Energy Storage Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Flywheel Energy Storage Market Analysis, Insights and Forecast, 2028
- North America Flywheel Energy Storage Market Analysis, Insights and Forecast, 2028
- Europe Flywheel Energy Storage Market Analysis, Insights and Forecast, 2028
- Asia Pacific Flywheel Energy Storage Market Analysis, Insights and Forecast, 2028
- The Middle East and Africa Flywheel Energy Storage Market Analysis, Insights and Forecast, 2028
- Latin America Flywheel Energy Storage Market Analysis, Insights and Forecast, 2028
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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