DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Flywheel Energy Storage Market Forecasts To 2024" report to their offering.
The global flywheel energy storage market is projected to reach USD 477.8 million by 2024.
Increasing demand for uninterrupted power supply and growing energy storage industry are expected to fuel the growth of this market. Flywheel systems store and regulate electricity by spinning continuously and hence are used for the majority of the frequency regulation applications. The major difference between photovoltaic solar cells and the flywheel storage systems is that the latter can produce power throughout the day and night.
The data centers segment held the largest share of 16% in terms of applications in 2015. Growing energy storage industry in the U.S. and the European region projected to drive the market. Growing demand for uninterruptible power supply, particularly from the industrial sector, has provided much-needed momentum.
North America was the largest market for flywheel energy storage systems in 2015, with a share of more than 77%. It is projected to witness a steady CAGR from 2016 to 2024. Since this region is home to some of the major IT companies such as Oracle, Cisco Systems, Intel Corp, Google and Microsoft that need storage of large amounts of data centrally, the demand from the data centers segment is projected to increase, by 2024.
Companies Mentioned:
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Active PowerÂ
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Amber Kinetics, Inc.
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Beacon Power, LLC
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Calnetix Technologies, LLC
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Piller Group GmbH
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Powerthru
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Power Tree
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Temporal Power Ltd
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Rotonix USA, Inc.
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Pentadyne Power Corporation
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VYCON, Inc.
Key Topics Covered:
1. Methodology And Scope
2. Executive Summary
3. Market Snapshot
4. Market Variables, Trends& Scope
5. Market Categorization 1: Application Estimates & Trend Analysis
6. Market Categorization 3: Regional Estimates & Trend Analysis, by Product & Application
7. Competitive Landscape
8. Company Profiles
For more information about this report visit http://www.researchandmarkets.com/research/b2qs4l/flywheel_energy
