San Francisco,16
October 2018: The global flywheel
energy storage market is
projected to reach USD 477.8 million by 2024, according to a new report by
Grand View Research, Inc. Increasing demand for uninterrupted power supply and
growing energy storage industry are expected to fuel the growth of this market.
Flywheel systems store and regulate electricity by spinning continuously and
hence are used for the majority of the frequency regulation applications. The
major difference between photovoltaic solar cells and the flywheel storage
systems is that the latter can produce power throughout the day and night.
The data centers segment held the largest
share of 16% in terms of applications in 2015. Growing energy storage industry
in the U.S. and the European region projected to drive the market. Growing
demand for uninterruptible power supply, particularly from the industrial
sector, has provided much-needed momentum.
Access
Research Report of Flywheel Energy Storage
Market @ www.grandviewresearch.com/industry-analysis/flywheel-energy-storage-market
Further key findings from the report suggest
· The data centers segment is projected to
dominate this industry from 2016 to 2024 and is estimated to reach over USD 65
million by 2024, growing at a CAGR of 7.2%. Continuous, uninterrupted power is
a primary requirement for data centers, for which, flywheel energy storage systems
are used. Growing commercial workstations, which require a large amount of data
to be stored centrally, are driving the market in this application segment.
Growing cloud-enabled IT services are expected to propel demand for data
centers, thus influencing market growth.
· Distributed energy generation is projected
to be the fastest growing application segment at a CAGR of 12% from 2016 to
2024. Low cost of power transmission, reduced complexity, and higher efficiency
are key characteristics of DEG systems that are preferred over a conventional
generation. Also, this method is expected to provide a boost to the use of
renewable sources for power generation and reduce the dependency on fossil
fuels.
· North America was the largest market for
flywheel energy storage systems in 2015, with a share of more than 77%. It is
projected to witness a steady CAGR from 2016 to 2024. Since this region is home
to some of the major IT companies such as Oracle, Cisco Systems, Intel Corp,
Google and Microsoft that need storage of large amounts of data centrally, the
demand from the data centers segment is projected to increase, by 2024.
· Active Power, Amber Kinetics, Inc., Beacon
Power, LLC, and Calnetix Technologies, LLC account for the majority of the
share in this industry. Other important players include Piller Group GmbH,
Powerthru, Power Tree, Temporal Power, and Rotonix USA. Agreements,
collaborations, and joint ventures were the most commonly adopted development
strategies by these players between 2011 and 2016, in order to consolidate their
positions in the industry.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/power-generation-and-storage
Grand View Research has segmented the
global flywheel energy storage market on the basis of application and region:
Application Outlook (Capacity, KW; Revenue,
USD Thousand, 2013 - 2024)
·
UPS
·
Distributed Energy Generation
·
Transport
·
Data Centers
·
Others
Regional Outlook (Capacity, KW; Revenue,
USD Thousand, 2013 - 2024)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
South Korea
o
Japan
·
Latin America
o
Brazil
·
MEA
Access Press Release of
Flywheel Energy Storage Market@ www.grandviewresearch.com/press-release/global-flywheel-energy-storage-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
No comments:
Post a Comment