Flywheel Energy Storage Market Analysis, Size, Growth, Share & Forecast to 2025 | Grand View Research Inc.
“Flywheel Energy Storage Market Size Worth $479.3 Million By 2025�
The global flywheel energy storage market size is anticipated to be valued at USD 479.3 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 8.9% during the forecast period. Growing energy storage and automobile industries is expected to drive this growth. Flywheel system accumulate energy and use it to deliver continuous power output where energy source is not continuous. In this system, electric energy can be generated by spinning the flywheel, which makes it an ideal solution in regulating supply. As compared to a solar photovoltaic cell or wind turbine, flywheels can produce energy throughout the day. On the basis of application, the market is segmented into UPS, distributed energy generation, transport, data centers, and others. Data center is the largest application segment due to the growing demand for energy storage devices to overcome the risk of interruptions at the main power supply. The segment held around 44.0% of the global market share in 2018 and is expected to grow significantly over the forecast period.
High power density, long life cycle, and no degradation over time are some of the properties that work in favor of flywheel energy storage systems in vehicles. Growing automobile and transport industries are expected to drive this market over the forecast period. Transport segment is projected to register a CAGR of 10.6% over the forecast period. Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/flywheel-energy-storagemarket
Growing demand for Uninterruptible Power Supply (UPS) from end-use industries is expected to have a positive impact on the market growth. The market is consolidated with the presence of many small- and large-scale
Follow Us: