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 2016 through 2024 is also included in the report.
The competitive landscape of the global flywheel energy storage market is marked by the presence of several international players, with many new vendors making inroads at an encouraging rate. The competition is intense and companies are continuously experimenting with product designs and technological expertise to excel in terms of functionalities, quality, and services.
Some of the major vendors in the market are EnSync Energy, Beacon Power, Active Power, Calnetix Technologies, Vycon Energy, Temporal Power Ltd, Pentadyne Power Corporation, and Kinetech Power Company.
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