The Global Market for Utility-Scale Flywheel Energy Storage Technology in Terms of Annual Capacity Installations is Projected to Reach 54.6 Megawatts by 2020

Rising Demand for Low Cost and Low Maintenance Energy Storage Technologies Drives the Flywheel Energy Storage Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Flywheel Energy Storage (FES) market. The global market for utility-scale Flywheel Energy Storage Technology in terms of annual capacity installations is projected to reach 54.6 Megawatts by 2020, driven by robust demand for efficient and economical energy storage technologies and the spiralling cost of power interruptions.

Flywheel energy storage (FES) is evolving into an important electric power related technology that enables storage of kinetic energy for later use. The technology primarily converts electric power into kinetic power during utility power flow to be used during power interruptions, when the flywheel transforms into a generator by converting back kinetic energy into electricity thus enabling significant savings in energy costs and supporting critical applications. An important attribute of flywheel energy storage driving its steady adoption include very low maintenance. When power supply returns to normal levels, FES systems recharge both the flywheel and the batteries thereby considerably enhancing battery performance and extending its useful life. Lifespan of flywheels is also considerably long. Some of the newest configurations of flywheels are capable of over 175 thousand full depth discharge cycles. Environmental impact of flywheels is also negligible which helps them score over all other energy storage systems. Other superior attributes of flywheels include reduction in maintenance and capital costs for the utilities, and provision of efficient and economical energy storage for grid modernization and renewables applications.

Future growth in the market will be driven by spiralling cost of power interruptions, and growing automation in the healthcare and production facilities. More than $145 billion per annum is incurred as business costs in the U.S. alone for power interruptions of less than 10 seconds. Energy storage is an essential pre-requisite in grid modernization and flywheel energy storage represents a compelling option under the scenario for addressing the technical challenges created by renewables and microgrids. The rising prominence of renewable energy in the power generation mix offers significant opportunities for flywheel energy storage systems for storing such intermittent energy for effective use during power interruptions. Against the backdrop of increasing popularity of prefabricated modular power products, flywheel storage offers innovative modular models that require less capital and shorter lead times at the same time adding considerable capacity. Other important factors benefiting market expansion include rising demand for uninterrupted power supply in response to growing industrialization, rising costs of conventional energy generation, and increasing demand for backup power supplies such as UPS.

As stated by the new market research report on Flywheel Energy Storage (FES), UPS (uninterrupted power supply) systems represent the largest application segment, followed by utility scale energy storage. Smaller footprint, user-friendliness, lesser operating costs, lower maintenance, increased reliability, environment friendly, and faster unit cooling are key attributes that are benefiting prospects for flywheel UPS technology as a backup power solution.

Key players covered in the report include Active Power Inc., AFS Trinity Power, Alstom Transport, Amber Kinetics, Inc., Beacon Power, LLC, Calnetix Technologies, LLC, Centre for Concepts in Mechatronics B.V. (CCM), GKN Hybrid Power, Kinetic Traction Systems, Inc., Piller Group GmbH, POWERTHRU, STORNETIC GmbH, and Temporal Power Ltd., among others.

The research report titled “Flywheel Energy Storage (FES): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides global market estimates and projections for key end-use applications including Utility-Scale, UPS, Transportation, and Others.

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