Flywheel Energy Storage Market Size and Technology Development Trend to 2021
Global Flywheel Energy Storage Market is segmented on the basis of type, application, and region. A flywheel energy storage system can be described as a mechanical battery such that it does not create electricity but simply converts and stores the energy in form of kinetic energy until needed. In a matter of seconds, the electricity can be created from the spinning flywheel making it the ideal solution to help regulate supply in the electrical grid. Kinetic energy can be described as “energy of motion,” and in this case the motion of a spinning mass called a rotor.
Global Flywheel Energy Storage Market is segmented on the basis of type, application, and region. A flywheel energy storage system can be described as a mechanical battery such that it does not create electricity but simply converts and stores the energy in form of kinetic energy until needed. In a matter of seconds, the electricity can be created from the spinning flywheel making it the ideal solution to help regulate supply in the electrical grid. Kinetic energy can be described as “energy of motion,” and in this case the motion of a spinning mass called a rotor.
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<strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> <strong>Market</strong> <strong>Size</strong><br />
<strong>and</strong> <strong>Technology</strong> <strong>Development</strong> <strong>Trend</strong> <strong>to</strong><br />
<strong>2021</strong><br />
“A flywheel energy s<strong>to</strong>rage system can be described as a<br />
mechanical battery such that it does not create electricity but<br />
simply converts <strong>and</strong> s<strong>to</strong>res the energy in form of kinetic energy<br />
until needed. In a matter of seconds, the electricity can be<br />
created from the spinning flywheel making it the ideal solution<br />
<strong>to</strong> help regulate supply in the electrical grid. The major fac<strong>to</strong>rs<br />
driving the global market are reliable <strong>and</strong> cost-effective<br />
electrical energy s<strong>to</strong>rage mechanisms such as flywheels. “<br />
Global <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> <strong>Market</strong> is segmented on the basis of type, application, <strong>and</strong> region. A flywheel energy<br />
s<strong>to</strong>rage system can be described as a mechanical battery such that it does not create electricity but simply converts <strong>and</strong><br />
s<strong>to</strong>res the energy in form of kinetic energy until needed. In a matter of seconds, the electricity can be created from the<br />
spinning flywheel making it the ideal solution <strong>to</strong> help regulate supply in the electrical grid. Kinetic energy can be<br />
described as “energy of motion,” <strong>and</strong> in this case the motion of a spinning mass called a ro<strong>to</strong>r. The ro<strong>to</strong>r spins in a nearly<br />
frictionless enclosure. When short-term backup power is required since the utility power fluctuates or is lost <strong>and</strong> the<br />
inertia allows the ro<strong>to</strong>r <strong>to</strong> continue spinning <strong>and</strong> the resulting kinetic energy is converted <strong>to</strong> electricity.<br />
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To maintain efficiency, the flywheel system is operated in a vacuum <strong>to</strong> reduce drag. The flywheel is connected <strong>to</strong> a<br />
mo<strong>to</strong>r-genera<strong>to</strong>r that interacts with the utility grid through advanced power electronics. Some of the key advantages of
flywheel energy s<strong>to</strong>rage are low maintenance, long life, <strong>and</strong> negligible environmental impact. <strong>Flywheel</strong>s s<strong>to</strong>re energy<br />
by asset of the angular motions of a spinning element. While charging, a mo<strong>to</strong>r spins up the flywheel with the input of<br />
electrical energy; while discharging the same mo<strong>to</strong>r, now acting as a genera<strong>to</strong>r, produces electrical energy from the<br />
rotational energy of the flywheel.<br />
<strong>Flywheel</strong>s can bridge the gap between short-term ride-through power <strong>and</strong> long-term energy s<strong>to</strong>rage with excellent cyclic<br />
<strong>and</strong> load following characteristics. The major fac<strong>to</strong>rs driving the global market are reliable <strong>and</strong> cost-effective electrical<br />
energy s<strong>to</strong>rage mechanisms such as flywheels. The rising burden of the huge cost of power cuts on national incomes<br />
<strong>and</strong> the consistent need for updating grid infrastructures are also some of the major fac<strong>to</strong>rs driving the global market for<br />
flywheel energy s<strong>to</strong>rage.<br />
<strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> <strong>Market</strong> is classified, by product type in<strong>to</strong> Steel rims, Composite rims. <strong>Flywheel</strong> <strong>Energy</strong><br />
<strong>S<strong>to</strong>rage</strong> <strong>Market</strong> is classified, by application UPS, transportation, <strong>and</strong> distributed power generation. Distributed energy<br />
generation accounted for the largest share in 2015. Distributed energy generation is a process in which power is<br />
generated at the place of consumption. Advantages such as increased efficiency <strong>and</strong> reduction of transmission losses<br />
have made distributed energy generation more popular than centrally generated power.<br />
UPS segment is expected <strong>to</strong> grow at highest CAGR over the predicted period due <strong>to</strong> the issue of frequent power outages<br />
in developing regions <strong>and</strong> the dem<strong>and</strong> for effective power backup options in response. <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> <strong>Market</strong><br />
is segmented, geographically in<strong>to</strong> North America, Europe (Eastern Europe, Western Europe), Asia Pacific, Latin<br />
America, Middle East <strong>and</strong> Africa.<br />
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North America accounted for the largest market share of the <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> <strong>Market</strong> in 2015. This region is<br />
dominated by the U.S., which houses some of the major IT <strong>and</strong> au<strong>to</strong>mobile companies in the world. Europe is expected<br />
<strong>to</strong> be the fastest growing region in this market, over the predicted period. This is due <strong>to</strong> the growing dem<strong>and</strong> from<br />
countries such as Germany <strong>and</strong> the Engl<strong>and</strong> have resulted in boosting the market in this region.<br />
The market for flywheel energy s<strong>to</strong>rage holds huge growth potential in Asia Pacific due <strong>to</strong> fac<strong>to</strong>rs such as the rapid pace<br />
of industrialization, mounting population, <strong>and</strong> increased investments in the development of grid infrastructure in the<br />
regions developing economies.The market in this region is led by Japan, <strong>and</strong> South Korea. MEA is also expected <strong>to</strong> be<br />
important <strong>to</strong> the growth of this industry.<strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> <strong>Market</strong> key players are EnSync <strong>Energy</strong>, Beacon<br />
Power, Active Power, Calnetix Technologies, Vycon <strong>Energy</strong>, Temporal Power Ltd, Pentadyne Power Corporation <strong>and</strong><br />
Kinetech Power Company.<br />
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Table of Contents<br />
1 <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> Overview<br />
2 Global <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> <strong>Market</strong> Competition by Manufacturers<br />
3 Global <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> Analysis by Region<br />
4 Global <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> Analysis by Type<br />
5 Global <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> <strong>Market</strong> Analysis by Application<br />
6 Global <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> Manufacturers Analysis<br />
7 <strong>Flywheel</strong> <strong>Energy</strong> <strong>S<strong>to</strong>rage</strong> <strong>Technology</strong> <strong>and</strong> <strong>Development</strong> <strong>Trend</strong><br />
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https://www.millioninsights.com/industry-reports/flywheel-energy-s<strong>to</strong>rage-market
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