Flywheel Energy Storage System Market Size was valued at USD 431.02 million in 2023. The Flywheel Energy Storage System Market industry is projected to grow from USD 494.13 million in 2024 to USD 1474.35 million by 2032, exhibiting a compound annual growth rate (CAGR) of 15% during the forecast period (2024 - 2032).
The growing energy storage market and automobile industry, globally, have provided a boost to the market. Increasing demand from UPS and data center application segments has driven the market for flywheel energy storage systems, within this region. Similarly, distributed energy generation, which involves the generation of power at the place of consumption, is expected to result in augmented demand for the flywheel energy storage systems, within this region. Industrial standards and compliances are the critical references used in the design, testing, installation, manufacture, and maintenance of flywheel power systems. Following the guidelines, set forth by industrial standards and regulations ensures compliance, minimalist’s liability, and collectively lowers overall cost by eliminating wasted time and effort to develop high-quality flywheel energy storage systems.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The surging demand for consumer Uninterrupted Power Supply represents a pivotal driver that significantly shapes the dynamics of the Flywheel Energy Storage System Market. As the world becomes increasingly digitized, the consumer electronics industry stands at the forefront of innovation and growth. This trend is characterized by relentless technological advancements, with smartphones, laptops, tablets, and wearable gadgets becoming integral aspects of modern lifestyles. UPS, with the second-highest penetration, is one of the most important application areas of flywheel energy storage systems. The growing demand for uninterrupted power supply from industries across various sectors is driving the market for UPS.
Industrial standards and compliances are the critical references used in the design, testing, installation, manufacture, and maintenance of flywheel power systems. Following the guidelines, set forth by industrial standards and regulations ensures compliance, minimalist’s liability, and collectively lowers overall cost by eliminating wasted time and effort to develop high-quality flywheel energy storage systems.
The flywheel energy storage systems market in the U.S. is growing in accordance with the growing energy storage market in this country. Li-ion and lead-acid batteries are the most commonly used energy storage systems here. However, advantages of flywheel energy storage systems such as higher efficiency and longer life are projected to increase the demand for flywheel energy storage systems, within the country.
The Flywheel Energy Storage System Market segmentation, based on application has been segmented into Uninterrupted Power Supply (UPS), Data Center, Distributed Energy Generation, Transport, Others. These applications are gaining importance due to the growing demand for uninterrupted power from commercial workstations and factories. Uninterruptible power supply (UPS) is one of the major application areas of flywheel energy storage systems. Power failures can cause huge losses in businesses and commercial workstations. Flywheel UPS systems can be used to overcome the problems faced by sudden dips or glitches in electric and voltage supplies. Flywheels are used as intermediate energy storage systems for transport applications such as automobiles. Distributed energy generation involves the generation of power at the place of consumption. This method has several advantages such as elimination of cost, inefficiencies, and complexities related to power generation as compared to centrally generated power. The data center is the highest penetration application segment in the flywheel energy storage market due to the growing demand for energy storage devices, in order to overcome the risk of interruptions at the main power supply.
Based on Region, the flywheel energy storage system market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. The flywheel energy storage market in North America is dominated by the U.S. Batteries and flywheels are the most commonly used energy storage systems in this region. The North American flywheel energy storage market is characterized by growing demand for UPS systems, to maintain a continuous supply of power intended for commercial and industrial applications. Similarly, the growing demand for data centers designed for storing large amounts of data has resulted in the growth of the flywheel energy storage market within this region. The growing energy storage market in this region is projected to play a huge role in the growth of the flywheel market in this region. The growing automobile industry, particularly in countries such as Germany and Italy are, further, increasing the demand for flywheel energy storage systems in Europe. Germany is known as the automobile and engineering hub of Europe. Some of the major automobile manufacturers such as Volkswagen, Mercedes Benz, and Porsche are headquartered in this country. Thus, the growing automobile industry is one of the biggest drivers of the flywheel energy storage market in Germany.
The Flywheel Energy Storage System Market is a dynamic and competitive industry encompassing various players offering a wide range of advanced and efficient flywheel energy storage system products to meet the growing demand across numerous applications. This market is segmented by application, and region. Key drivers of market growth include the rising demand for Uninterrupted Power Supply in sectors like electronics, transportation, renewable energy, driven by their crucial role in enabling various technological advancements. Furthermore, the Flywheel Energy Storage System Market is dominated by major players such as Langley Holdings plc, Amber Kinetics, Inc., Stornetic GmbH, POWERTHRU, Energiestro, VYCON, Inc., mBc New Energy (Tianjin) Co., Ltd. (BNE), Beacon Power, LLC, PUNCH Flybrid and Kinetic Traction Systems, Inc. These companies’ leaders have a strong global presence and offer an extensive array of flywheel energy storage system applications, including Uninterruptible Power Supply (UPS), Distributed Energy Generation (DEG), Automotive, Data Center, catering to diverse application needs. This is mostly related to an increase in demand for a continuous electricity supply across all industries to operate electrical devices and equipment without interruption. These key players are actively involved in research and development activities to introduce new flywheel energy storage system technologies and expand their product portfolios through strategic initiatives like mergers, acquisitions, partnerships, and collaborations with other industry participants.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 431.02 million |
| Market Size 2024 | USD 494.13 million |
| Market Size 2032 | USD 1474.35 million |
| Compound Annual Growth Rate (CAGR) | 15% (2024-2032) |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2018 to 2032 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Rest of World |
| Countries Covered | US, Canada, Germany, UK, France, Spain, Italy, Russia, China, Japan, India, South Korea, Brazil, Mexico, Argentina, South Africa, GCC countries |
| Key Companies Profiled | Langley Holdings plc, Amber Kinetics, Inc., Stornetic GmbH, POWERTHRU, Energiestro, VYCON, Inc., mBc New Energy (Tianjin) Co., Ltd. (BNE), Beacon Power, LLC, PUNCH Flybrid and Kinetic Traction Systems, Inc. |
| Key Market Opportunities | Advantageous in Electric Vehicle Application |
| Key Market Dynamics | Demand for Uninterrupted Power Supply Increasing production capacities for environment- friendly storage systems |
Frequently Asked Questions (FAQ) :
Flywheel Energy Storage System Market Size was valued US$ 431.02 Mn in 2023
Growth rate of the Flywheel Energy Storage System Market is 15% by 2032
North America held the largest market share in the Flywheel Energy Storage System Market
Langley Holdings plc, Amber Kinetics, Inc., Stornetic GmbH, POWERTHRU, Energiestro, VYCON, Inc., mBc New Energy (Tianjin) Co., Ltd. (BNE), Beacon Power, LLC, PUNCH Flybrid and Kinetic Traction Systems, Inc.
Uninterrupted Power Supply (UPS) had the largest market share in the Flywheel Energy Storage System Market
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Team Lead - Research she holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.
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