플라이휠 에너지 저장 시스템 시장 : 제품 유형별, 용도별, 최종사용자별, 지역별(2024-2031년)

Flywheel Energy Storage Systems Market Valuation - 2024-2031

The Flywheel Energy Storage Systems market is expanding rapidly, driven by rising demand for efficient and dependable energy storage systems. These devices store energy kinetically by rotating a mass at high speeds and then releasing it when needed, providing benefits such as quick response times, high energy density and long operating life. This is likely to enable the market size surpass USD 3.71 Billion valued in 2024 to reach a valuation of around USD 6.2 Billion by 2031.

Applications include grid stability, renewable energy integration, uninterruptible power supply (UPS) and transportation. Technological breakthroughs and favorable government policies are accelerating the market. Key regions include North America, Europe and Asia-Pacific, with leading companies such as Beacon Power, Active Power and Siemens helping to drive market growth. The rising demand for Flywheel Energy Storage Systems is enabling the market grow at a CAGR of 7.30% from 2024 to 2031.

Flywheel Energy Storage Systems Market: Definition/ Overview

Flywheel Energy Storage Systems use a rotating mass to store kinetic energy. They transform electrical energy to kinetic energy and vice versa, resulting in fast energy discharge and great efficiency for applications that require short-term energy storage and grid stability.

Flywheel Energy Storage Systems (FESS) use rotating masses to store kinetic energy, allowing for rapid energy discharge, grid stabilization, frequency regulation and renewable energy integration, ultimately improving power quality and reliability in applications such as renewable energy grids and uninterruptible power supplies (UPS).

Because of their quick response and great efficiency, flywheel energy storage systems will be used more frequently to stabilize renewable energy grids, improve power quality, support electric vehicle charging stations and provide backup power for essential infrastructure.

Will Increasing Demand for Renewable Energy Integration Boost the Flywheel Energy Storage Systems Market Growth?

The growing demand for renewable energy integration is expected to drive the flywheel energy storage systems (FESS) market. As of 2020, the United States has around 62 MW of operational flywheel energy storage capacity and the Department of Energy estimated round-trip efficiency of 85-87%.

Flywheel systems provide a dependable alternative for stabilizing renewable energy networks. Their longevity of 15-20 years, with sophisticated models lasting up to 30 years, contributes to their popularity. The US EIA predicts that renewable energy sources will account for 42% of total electricity generation by 2050, up from 21% in 2020. DOE efforts such as the Energy Storage Grand Challenge, as well as financing from ARPA-E and advanced vehicle technologies research, help to accelerate the development and use of flywheel systems to satisfy market demand.

Will High Initial Costs Hamper the Flywheel Energy Storage Systems Market?

High upfront costs may stymie the Flywheel Energy Storage Systems (FESS) business. According to the US Department of Energy's Office of Electricity, the capital cost for FESS was anticipated to be between $1,500 and $6,000 per kWh in 2018. This considerable initial cost may discourage potential investors and prevent wider implementation, especially when compared to other energy storage technologies such as batteries, which have witnessed significant cost reductions.

Furthermore, the economic feasibility of implementing FESS is frequently hampered by the necessity for large-scale infrastructure investments and the lengthier return on investment period. As a result, despite their advantages in terms of efficiency and durability, flywheel energy storage systems' high initial prices pose a significant barrier to their commercial growth.

Category-Wise Acumens

Will Increasing Demand for Rapidly Balance Supply of Dietary Supplements Drive the Application Segment?

The growing demand for fast balancing supplies in dietary supplements is unlikely to directly impact the Flywheel Energy Storage Systems (FESS) application category. FESS primarily solves grid stability and energy management requirements for power distribution, hybrid vehicles, UPS, microgrids, and distributed energy generation. The dietary supplement industry does not often have the same level of energy storage or power balancing requirements as the energy sector.

However, if the manufacturing and distribution procedures for nutritional supplements necessitate major energy management or backup power solutions, there may be an indirect impact. In general, the demand for FESS is driven by sectors that require rapid energy response, stability, and efficiency, such as power distribution and renewable energy integration, rather than the dietary supplement business.

How will High Demand for Managing Renewable Energy Sources Drive the End-User Segment?

Rising need for renewable energy management will drive the end-user market for flywheel energy storage systems (FESS). Renewable energy sources such as wind and solar are becoming increasingly popular, causing fluctuation and instability in power supply. FESS can quickly balance these variations, resulting in steady and dependable energy distribution.

Their high efficiency, rapid response times, and potential to improve grid stability make them suitable for assisting utilities and renewables in the integration and management of renewable energy sources. The growing requirement for dependable and efficient energy storage solutions in the face of increasing renewable energy adoption is projected to drive up demand for FESS in the utilities and renewables sectors.

Country/Region-wise Acumens

Will High Adoption of Renewable Energy Drive the Market in North America?

The rising use of renewable energy will propel the flywheel energy storage systems (FESS) market in North America. As renewable energy sources like wind and solar gain popularity, there is a rising demand for effective energy storage systems to manage supply changes and ensure grid stability. Flywheel systems are ideal for this application due to their rapid response time, high efficiency, and extended lifespan.

North America's emphasis on integrating more renewable energy into the grid, combined with government incentives and technology improvements, contributes to the growth of the FESS industry. As a result of the region's growing reliance on renewable energy, the use of flywheel energy storage systems is expected to accelerate.

Will Expanding Investments in Renewable Energy Drive the Market in Asia Pacific Region?

Expanding renewable energy investments will drive the Asia-Pacific Flywheel Energy Storage Systems (FESS) market. Rapid industrialization, urbanization, and economic expansion in nations such as China, India, and Japan are driving up energy consumption and encouraging major investment in renewable energy sources like wind and solar. To meet the challenges of integrating these variable energy sources, the region needs efficient energy storage systems. FESS can provide the grid stability, rapid response, and energy management capabilities required to support the expanding renewable energy infrastructure.

Furthermore, government regulations and incentives that promote sustainable energy and reduce carbon emissions drive up demand for advanced energy storage technologies. As a result, increased investment in renewable energy is expected to fuel significant growth in Asia-Pacific's FESS market.

Competitive Landscape

The flywheel energy storage systems market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the flywheel energy storage systems market include:

Langley Holdings plc

Amber Kinetics, Inc.

Stornetic GmbH

POWERTHRU

Energiestro

VYCON, Inc

Bc New Energy (Tianjin) Co., Ltd. (BNE)

Beacon Power, LLC

PUNCH Flybrid

Kinetic Traction Systems, Inc.

Latest Developments

In June 2023, the construction of China's first grid-level flywheel energy storage facility in Changzhi, Shanxi Province, began. The facility's storage system uses technologies created by BC New Energy, a startup specializing in advanced energy storage. Shenzhen Energy Group is the project's principal investor.

In February 2023, Candela New Energy successfully launched its first megawatt-class magnetic levitation flywheel production line at Julongwan Intelligent Equipment Industrial Park in Foshan City. The first set of TMW/35kWh magnetic levitation flywheels has successfully rolled off the assembly line.

In October 2022, ABB and S4 Energy installed a hybrid battery-flywheel storage system in the Netherlands. The idea includes a 10 MW battery system and a 3 MW flywheel system that can supposedly offer a leveled cost of storage ranging between USD 0.020/kWh and USD 0.12/kWh.

Flywheel Energy Storage Systems Market, By Category

• Type:
• Solid Steel
• Carbon Composite
• Application:
• Power Distribution
• Hybrid and Electric Vehicles
• UPS
• Microgrids
• Distributed Energy Generation
• End-User:
• Healthcare
• Transportation
• Utilities and Renewables
• Telecommunication
• Data Centers
• Region:
• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

TABLE OF CONTENTS

1. Introduction

• Market Definition
• Market Segmentation
• Research Methodology

2. Executive Summary

• Key Findings
• Market Overview
• Market Highlights

3. Market Overview

• Market Size and Growth Potential
• Market Trends
• Market Drivers
• Market Restraints
• Market Opportunities
• Porter's Five Forces Analysis

4. Flywheel Energy Storage Systems Market, By Type of Flywheel

• Steel Flywheels
• Composite Flywheels

5. Flywheel Energy Storage Systems Market, By Application

• Grid Stabilization
• Renewable Energy Integration
• Uninterruptible Power Supply (UPS)
• Distributed Energy Storage

6. Flywheel Energy Storage Systems Market, By End-User Industry

• Utilities
• Industrial
• Commercial and Residential
• Transportation

7. Regional Analysis

• North America
• United States
• Canada
• Mexico
• Europe
• United Kingdom
• Germany
• France
• Italy
• Asia-Pacific
• China
• Japan
• India
• Australia
• Latin America
• Brazil
• Argentina
• Chile
• Middle East and Africa
• South Africa
• Saudi Arabia
• UAE

8. Market Dynamics

• Market Drivers
• Market Restraints
• Market Opportunities
• Impact of COVID-19 on the Market

9. Competitive Landscape

• Key Players
• Market Share Analysis

10. Company Profiles

• Langley Holdings plc
• Amber Kinetics, Inc.
• Stornetic GmbH
• POWERTHRU
• Energiestro
• VYCON, Inc.
• Bc New Energy (Tianjin) Co., Ltd. (BNE)
• Beacon Power, LLC
• PUNCH Flybrid
• Kinetic Traction Systems, Inc.

11. Market Outlook and Opportunities

• Emerging Technologies
• Future Market Trends
• Investment Opportunities

12. Appendix

• List of Abbreviations
• Sources and References