Global Flywheel Energy Storage Market 2018-2022
About Flywheel Energy Storage
Flywheel Energy Storage systems store electrical energy in the form of kinetic energy. These systems are mainly used when short term back-up power is required in case of fluctuations in utility power due to power intermittency.
Technavio’s analysts forecast Global Flywheel Energy Storage market to grow at a CAGR of 10.17% from 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the Global Flywheel Energy Storage market for the period 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report - Global Flywheel Energy Storage Market 2018-2022.
Technavio recognizes the following companies as the key players in the Global Flywheel Energy Storage market for 2018-2022: Amber Kinetics, Beacon Power, Calnetix Technologies, GKN, Langley Holdings, Siemens
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is the growth in advanced energy storage market.”
According to the report, one driver in the market is the increasing growth of data centers driven by the augmented demand for cloud-based service offerings and the rising need to improve digitization across many economies.
Further, the report states that one challenge in the market is the competition from fossil fuels.