Flywheel storage power system

Global $552.1 Million Flywheel Energy Storage System Markets, Analysis 2016-2019 & Forecasts 2020-2027

Retrieved on: 
Friday, September 18, 2020

The global flywheel energy storage system market size is expected to reach USD 552.1 million by 2027, escalating at a CAGR of 7.4% over the forecast period.

Key Points: 
  • The global flywheel energy storage system market size is expected to reach USD 552.1 million by 2027, escalating at a CAGR of 7.4% over the forecast period.
  • Flywheel energy storage providing frequency regulation in grid balancing operations is set to be driving the market across this segment
    The data centers segment occupied a significant market share and is projected to witness a high growth rate over the forecast period.
  • Flywheel serves as a reliable energy storage solution in developing areas with less reliable grid infrastructure and high electricity costs, and in island areas where grids are reliant on biofuels and diesel generators.
  • Manufacturers are focusing on optimizing the geometry and metallurgical properties of flywheel rotor including the chemical composition and processing refinement of low-carbon steel alloy.