The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Flywheel Energy Storage System Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.

In-Depth Market Overview of Flywheel Energy Storage System Industry (2023-2028):

According to the latest report, The Flywheel Energy Storage System Market is projected to grow at a CAGR of around 8.2% during the forecast period, i.e., 2023-28. The report demonstrates the prominent factors propelling the exponential growth of the Flywheel Energy Storage System industry.

Key Takeaways: Beneficial for Stakeholders and Clients:

• Historical Data: 2019-22
• Base Year: 2023
• Forecast Period: 2023-28
• CAGR (2023-2028): 8.2%

What are the major Driver the Flywheel Energy Storage System industry?

Expanding Demand for Grid Flexibility and Reliability - There has been a surge in demand for more flexible and reliable power grids in recent years. Since smarter, more flexible electric grids can reduce energy losses, a flywheel energy storage system seems paramount to the grids. Reliability seeks to minimize the risk and impact of power outages, withstanding disruptions, and thereby quickly and efficiently restoring the system. Since the flywheel energy storage system provides the utmost reliability, consumers may now count on a consistently operational and functional grid. This factor has led to the steady adoption of such systems, thereby favorably fostering market expansion.

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Flywheel Energy Storage System Market Segmentation

The Flywheel Energy Storage System Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

• By Type
• Solid Steel
• Carbon Composite
• By Application
• Frequency Regulation
• Uninterruptible Power Supplies (UPS)
• Distributed Energy Generation (DEG)
• By End User
• Transport
• Data Centre
• Aerospace and Defence
• Power & Utility
• Others (Marine, Manufacturing) 
• By Region
• North America
• South America
• Europe
• The Middle East and Africa
• Asia-Pacific

As per the regional aspect, the Flywheel Energy Storage System Market is expected to be dominated by North America by capturing the potential market share.

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Top Companies in the Flywheel Energy Storage System Market

ABB Ltd., Beacon Power LLC, STORNETIC GmbH, Langley Holdings Plc (Active Power Inc.), Amber Kinetics Inc., Calnetix Technologies LLC (VYCON Inc), Energiestro, Kinetic Traction Systems Inc., Siemens AG, Bc New Energy (Tianjin) Co., Ltd. (BNE), Tesla, Inc., Piller Power System, WattsUp Power A/S, Xun Power Corp, Levisys., Others

Global Flywheel Energy Storage System Industry Recent Developments

August 2022: As part of the Smart Grid Program, NYSERDA backed Beacon Power, LLC’s deployment of a 20-MW advanced flywheel-based energy storage system in Stephentown, NY. The facility seeks to deliver the New York Independent System Operator with fast-response frequency regulation, enabling them to maintain a balance between generation and load on the electric system of New York State.

October 2021: Langley Holdings Plc, via its USA Tour looking to deliver its containerized POWERHOUSE UPS to customers' doorsteps. With this, the brand hopes to demonstrate the ease with which the POWERHOUSE can be transported, connected to a standby generator, and up & running on any desired site within hours.

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