Global Flywheel Energy Storage Market by Types, Applications, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026

Global Flywheel Energy Storage Market is valued to reach USD 465.1 Million by 2025, growing at CAGR of 8.2% over 2020–2026. The flywheel system accumulates energy and delivers continuous power output when needed. Rising demand for Uninterruptible Power Supply (UPS) from end-use industries and growing adoption of renewable energy are the driving factors of the market.

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Flywheel energy storage is one such emerging electrical energy storage technology that has demonstrated significant growth in the past few years. Flywheels store energy by virtue of the angular motions of a spinning element. While charging, a motor spins up the flywheel with the input of electrical energy; while discharging the same motor, now acting as a generator, produces electrical energy from the rotational energy of the flywheel. One of the major benefits of flywheels is their high service life (several hundred thousand complete charge-discharge cycles) and low maintenance requirement. The low environmental impact of flywheels also bodes well for this relatively newer electrical energy storage technology, paving the way for substantial growth opportunities in the global market.

This report on the global flywheel energy storage market gives an expansive account of the crucial elements and segments of the market, outlining the major growth opportunities and lucrative application areas. The report presents a thorough overview of the major growth drivers, challenges, and key trends in the market. An overview of the potential impact of these factors on the overall development of the market over the period from 2020 through 2026 is also included in the report.

Market Trends, Drivers, Restraints, and Opportunities:

Rising government initiatives for promoting advanced energy storage is a key factor driving the market growth.
Growing demand for power backup sources and the integration of sporadic power sources such as microgrids are boosting the expansion of the market.
Safety issues related to flywheel energy-storing are likely to hamper the growth of the market.
Technological developments related to advanced energy storage systems are promoting new growth opportunities in the market.