Flywheel Energy Storage System Market - Industry Trends and Forecast to 2028

MarkNtel Advisors, a prominent market research firm, has recently published a report titled Flywheel Energy Storage System Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028. This study offers an in-depth examination of the industry, encompassing Flywheel Energy Storage System market share, size, trends, and growth predictions. Additionally, the report features an analysis of competitors and regions while spotlighting the most recent developments in the market.

Flywheel Energy Storage System Reports Highlights

What is the size of the Flywheel Energy Storage System Market?

The Global Flywheel Energy Storage System Market is projected to grow at a CAGR of around 8.2% during the forecast period, i.e., 2023-28. The overall market expansion can be attributed primarily to the growing automobile industry paired with intensifying energy storage market. Besides, substantial investment in the energy sector is another crucial factor anticipated to augment the market growth in the coming years. According to the United Nations Sustainable Energy for All initiative, access to modern electric power is likely to ramp up with around USD 45,000 million in investment. In a bid to utilize existing and new energy resources in a better way, Flywheel energy storage systems are sure to make part of these investments.

What do the growth prospects and trends look like in the Flywheel Energy Storage System Industry?

Electrification of Military Systems - The burgeoning demand for flywheels for powering military operations and ground vehicles, as well as weapons, navigation, communications, and their associated intelligent systems, has augmented in the past few years. In order to ensure continuity in terms of numerous weapons, and vehicles, the military systems must be devoid of any disruptions, particularly in terms of energy. As such, flywheel technology forms a suitable choice for energy storage. This storage system improves the system's stability and aids in current penetration in power systems. As a result, the electrification of military systems has been a prominent trend in the Flywheel energy storage system market in the past few years.

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What Components are encompassed within Flywheel Energy Storage System Market segmentation?

The report has divided the market into the following segments:

By Type

-Solid Steel

-Carbon Composite

By Application

-Frequency Regulation

-Uninterruptible Power Supplies (UPS)

-Distributed Energy Generation (DEG)

By End User

-Transport

-Data Centre

-Aerospace and Defence

-Power & Utility

-Others (Marine, Manufacturing)

By Region

-North America

-South America

-Europe

-The Middle East and Africa

-Asia-Pacific.

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Who are the Primary Companies or Entities active in the Industry?

The report covers the major market players including:

-ABB Ltd.

-Beacon Power LLC

-STORNETIC GmbH

-Langley Holdings Plc (Active Power Inc.)

-Amber Kinetics Inc

-Calnetix Technologies LLC (VYCON Inc)

-Energiestro

-Kinetic Traction Systems Inc.

-Siemens AG

-Bc New Energy (Tianjin) Co., Ltd. (BNE)

-Tesla, Inc.

-Piller Power System

-WattsUp Power A/S

-Xun Power Corp

-Levisys

-Others

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MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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