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Flywheel Energy Storage Systems Market By Component (Flywheel Rotor, Motor-Generator, Magnetic Bearings, Others), By Application (Uninterrupted Power Supply, Distributed Energy Generation, Transport, Data Centers, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033

June 2024 | 250 pages | ID: FFB82EF50607EN
Allied Market Research

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The flywheel energy storage systems market was valued at $353.0 million in 2023, and is projected t%li%reach $744.3 million by 2033, growing at a CAGR of 7.8% from 2024 t%li%2033.

Flywheel energy storage system is an energy storage device that converts mechanical energy int%li%electrical energy, achieving energy storage with the help of high-speed rotating flywheel. The system serves as a robust solution in applications that require fast charge and discharge cycles. The operation of flywheel energy storage system d%li%not discharge of any hazardous chemicals, making it a sustainable and efficient alternative t%li%traditional energy storage systems.

The growth of the global flywheel energy storage system is majorly driven by surge in demand for electricity across the globe and reliable power backup sources. For instance, India ranks as the world's third largest producer and consumer of electricity, boasting an installed power capacity of 429.96 GW as of January 31, 2024. Moreover, the need t%li%reduce dependability of fossil fuel-based power backup plants, the necessity t%li%reduce the greenhouse gas emissions, and promote the use of cleaner energy act as the key driving forces of the market. Increase in penetration of electric vehicles significantly contributes toward the market growth. This is attributed t%li%the fact that the use of flywheels has been gaining high traction for energy storage and recovery in electric vehicles, thereby enhancing efficiency and extending the service life of batteries. According t%li%the International Energy Agency, a Paris-based autonomous intergovernmental organization, over 3 million electric vehicles were sold in the first quarter of 2024, around 25% higher as compared t%li%2023. This number is estimated t%li%reach 17 million by the end of 2024, exhibiting a 20% year-on-year increase.

However, high capital investment required for flywheel energy storage systems restrains the growth of the market. Moreover, the need for precision engineering, advanced materials, and constant maintenance incur additional costs, which limit the market growth. Lower energy density of flywheels as compared t%li%chemical batteries make them less suitable in applications that require long-duration energy storage, thus hampering their demand across the globe.

On the contrary, constant R&D t%li%further increase the energy density of flywheels and make them more efficient and capable of storing more energy is expected t%li%offer remunerative opportunities for the expansion of the global flywheel energy storage system market during the forecast period. For instance, Siemens Energy AG delivered the world's biggest 177-ton flywheel t%li%Ireland in 2022. The flywheel arrived at the Moneypoint coal-fired power station on the southwestern coast in early May.

The global flywheel energy storage systems market is segmented on the basis of component, application, and region. By component, the market is classified int%li%flywheel rotor, motor-generator, magnetic bearings, and others. On the basis of application, it is classified int%li%uninterrupted power supply, distributed energy generation, transport, data centers, and others. Region wise, it is studied across areas such as North America, Europe, Asia-Pacific, and LAMEA.

Key Findings

On the basis of component, the flywheel rotor segment registers the highest growth.

By application, the uninterrupted power supply segment is expected t%li%exhibit fastest growth during the forecast period.

Region wise, Asia-Pacific is anticipated t%li%dominate the market by 2033.

Competition Analysis

Competitive analysis and profiles of the major players in the global Flywheel Energy Storage Systems Market include Langley Holdings plc, Amber Kinetics, Inc., Stornetic GmbH, Energiestro, VYCON, Beacon Power Systems, Kinetic Traction Systems, Inc., Langley Holdings Plc, Tesla, and ABB Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, t%li%gain a strong foothold in the flywheel energy storage systems market.

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Key Market Segments

By Component
  • Flywheel Rotor
  • Motor-Generator
  • Magnetic Bearings
  • Others
By Application
  • Uninterrupted Power Supply
  • Distributed Energy Generation
  • Transport
  • Data Centers
  • Others
By Region
  • North America
  • U.S.
  • Canada
  • Mexico
  • Europe
  • France
  • Germany
  • Italy
  • Spain
  • UK
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of LAMEA
  • Key Market Players
  • Langley Holdings plc
  • Amber Kinetics, Inc.
  • Stornetic GmbH
  • Energiestro
  • VYCON
  • Beacon Power Systems
  • Kinetic Traction Systems, Inc.
  • Langley Holdings Plc
  • Tesla
  • ABB Ltd.
CHAPTER 1: INTRODUCTION

1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits
1.4. Research Methodology
  1.4.1. Primary Research
  1.4.2. Secondary Research
  1.4.3. Analyst Tools and Models

CHAPTER 2: EXECUTIVE SUMMARY

2.1. CXO Perspective

CHAPTER 3: MARKET LANDSCAPE

3.1. Market Definition and Scope
3.2. Key Findings
  3.2.1. Top Investment Pockets
  3.2.2. Top Winning Strategies
3.3. Porter's Five Forces Analysis
  3.3.1. Bargaining Power of Suppliers
  3.3.2. Threat of New Entrants
  3.3.3. Threat of Substitutes
  3.3.4. Competitive Rivalry
  3.3.5. Bargaining Power among Buyers
3.4. Market Dynamics
  3.4.1. Drivers
  3.4.2. Restraints
  3.4.3. Opportunities

CHAPTER 4: DETONATOR MARKET, BY TYPE

4.1. Market Overview
  4.1.1 Market Size and Forecast, By Type
4.2. Non Electric
  4.2.1. Key Market Trends, Growth Factors and Opportunities
  4.2.2. Market Size and Forecast, By Region
  4.2.3. Market Share Analysis, By Country
4.3. Electronic And Electric
  4.3.1. Key Market Trends, Growth Factors and Opportunities
  4.3.2. Market Size and Forecast, By Region
  4.3.3. Market Share Analysis, By Country

CHAPTER 5: DETONATOR MARKET, BY ASSEMBLY TYPE

5.1. Market Overview
  5.1.1 Market Size and Forecast, By Assembly Type
5.2. Wired Detonator
  5.2.1. Key Market Trends, Growth Factors and Opportunities
  5.2.2. Market Size and Forecast, By Region
  5.2.3. Market Share Analysis, By Country
5.3. Wireless Detonator
  5.3.1. Key Market Trends, Growth Factors and Opportunities
  5.3.2. Market Size and Forecast, By Region
  5.3.3. Market Share Analysis, By Country

CHAPTER 6: DETONATOR MARKET, BY APPLICATION

6.1. Market Overview
  6.1.1 Market Size and Forecast, By Application
6.2. Coal Mines
  6.2.1. Key Market Trends, Growth Factors and Opportunities
  6.2.2. Market Size and Forecast, By Region
  6.2.3. Market Share Analysis, By Country
6.3. Metal Mines
  6.3.1. Key Market Trends, Growth Factors and Opportunities
  6.3.2. Market Size and Forecast, By Region
  6.3.3. Market Share Analysis, By Country
6.4. Non Metal Mines
  6.4.1. Key Market Trends, Growth Factors and Opportunities
  6.4.2. Market Size and Forecast, By Region
  6.4.3. Market Share Analysis, By Country
6.5. Railway And Road
  6.5.1. Key Market Trends, Growth Factors and Opportunities
  6.5.2. Market Size and Forecast, By Region
  6.5.3. Market Share Analysis, By Country
6.6. Hydraulic And Hydropower
  6.6.1. Key Market Trends, Growth Factors and Opportunities
  6.6.2. Market Size and Forecast, By Region
  6.6.3. Market Share Analysis, By Country
6.7. Others
  6.7.1. Key Market Trends, Growth Factors and Opportunities
  6.7.2. Market Size and Forecast, By Region
  6.7.3. Market Share Analysis, By Country

CHAPTER 7: DETONATOR MARKET, BY REGION

7.1. Market Overview
  7.1.1 Market Size and Forecast, By Region
7.2. North America
  7.2.1. Key Market Trends and Opportunities
  7.2.2. Market Size and Forecast, By Type
  7.2.3. Market Size and Forecast, By Assembly Type
  7.2.4. Market Size and Forecast, By Application
  7.2.5. Market Size and Forecast, By Country
  7.2.6. U.S. Detonator Market
    7.2.6.1. Market Size and Forecast, By Type
    7.2.6.2. Market Size and Forecast, By Assembly Type
    7.2.6.3. Market Size and Forecast, By Application
  7.2.7. Canada Detonator Market
    7.2.7.1. Market Size and Forecast, By Type
    7.2.7.2. Market Size and Forecast, By Assembly Type
    7.2.7.3. Market Size and Forecast, By Application
  7.2.8. Mexico Detonator Market
    7.2.8.1. Market Size and Forecast, By Type
    7.2.8.2. Market Size and Forecast, By Assembly Type
    7.2.8.3. Market Size and Forecast, By Application
7.3. Europe
  7.3.1. Key Market Trends and Opportunities
  7.3.2. Market Size and Forecast, By Type
  7.3.3. Market Size and Forecast, By Assembly Type
  7.3.4. Market Size and Forecast, By Application
  7.3.5. Market Size and Forecast, By Country
  7.3.6. France Detonator Market
    7.3.6.1. Market Size and Forecast, By Type
    7.3.6.2. Market Size and Forecast, By Assembly Type
    7.3.6.3. Market Size and Forecast, By Application
  7.3.7. Germany Detonator Market
    7.3.7.1. Market Size and Forecast, By Type
    7.3.7.2. Market Size and Forecast, By Assembly Type
    7.3.7.3. Market Size and Forecast, By Application
  7.3.8. Italy Detonator Market
    7.3.8.1. Market Size and Forecast, By Type
    7.3.8.2. Market Size and Forecast, By Assembly Type
    7.3.8.3. Market Size and Forecast, By Application
  7.3.9. UK Detonator Market
    7.3.9.1. Market Size and Forecast, By Type
    7.3.9.2. Market Size and Forecast, By Assembly Type
    7.3.9.3. Market Size and Forecast, By Application
  7.3.10. Rest of Europe Detonator Market
    7.3.10.1. Market Size and Forecast, By Type
    7.3.10.2. Market Size and Forecast, By Assembly Type
    7.3.10.3. Market Size and Forecast, By Application
7.4. Asia-Pacific
  7.4.1. Key Market Trends and Opportunities
  7.4.2. Market Size and Forecast, By Type
  7.4.3. Market Size and Forecast, By Assembly Type
  7.4.4. Market Size and Forecast, By Application
  7.4.5. Market Size and Forecast, By Country
  7.4.6. China Detonator Market
    7.4.6.1. Market Size and Forecast, By Type
    7.4.6.2. Market Size and Forecast, By Assembly Type
    7.4.6.3. Market Size and Forecast, By Application
  7.4.7. Japan Detonator Market
    7.4.7.1. Market Size and Forecast, By Type
    7.4.7.2. Market Size and Forecast, By Assembly Type
    7.4.7.3. Market Size and Forecast, By Application
  7.4.8. India Detonator Market
    7.4.8.1. Market Size and Forecast, By Type
    7.4.8.2. Market Size and Forecast, By Assembly Type
    7.4.8.3. Market Size and Forecast, By Application
  7.4.9. South Korea Detonator Market
    7.4.9.1. Market Size and Forecast, By Type
    7.4.9.2. Market Size and Forecast, By Assembly Type
    7.4.9.3. Market Size and Forecast, By Application
  7.4.10. Rest of Asia-Pacific Detonator Market
    7.4.10.1. Market Size and Forecast, By Type
    7.4.10.2. Market Size and Forecast, By Assembly Type
    7.4.10.3. Market Size and Forecast, By Application
7.5. LAMEA
  7.5.1. Key Market Trends and Opportunities
  7.5.2. Market Size and Forecast, By Type
  7.5.3. Market Size and Forecast, By Assembly Type
  7.5.4. Market Size and Forecast, By Application
  7.5.5. Market Size and Forecast, By Country
  7.5.6. Latin America Detonator Market
    7.5.6.1. Market Size and Forecast, By Type
    7.5.6.2. Market Size and Forecast, By Assembly Type
    7.5.6.3. Market Size and Forecast, By Application
  7.5.7. Middle East Detonator Market
    7.5.7.1. Market Size and Forecast, By Type
    7.5.7.2. Market Size and Forecast, By Assembly Type
    7.5.7.3. Market Size and Forecast, By Application
  7.5.8. Africa Detonator Market
    7.5.8.1. Market Size and Forecast, By Type
    7.5.8.2. Market Size and Forecast, By Assembly Type
    7.5.8.3. Market Size and Forecast, By Application

CHAPTER 8: COMPETITIVE LANDSCAPE

8.1. Introduction
8.2. Top Winning Strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Top Player Positioning, 2023

CHAPTER 9: COMPANY PROFILES

9.1. Orica Limited
  9.1.1. Company Overview
  9.1.2. Key Executives
  9.1.3. Company Snapshot
  9.1.4. Operating Business Segments
  9.1.5. Product Portfolio
  9.1.6. Business Performance
  9.1.7. Key Strategic Moves and Developments
9.2. Dyno Nobel Inc
  9.2.1. Company Overview
  9.2.2. Key Executives
  9.2.3. Company Snapshot
  9.2.4. Operating Business Segments
  9.2.5. Product Portfolio
  9.2.6. Business Performance
  9.2.7. Key Strategic Moves and Developments
9.3. AEL Intelligent Blasting
  9.3.1. Company Overview
  9.3.2. Key Executives
  9.3.3. Company Snapshot
  9.3.4. Operating Business Segments
  9.3.5. Product Portfolio
  9.3.6. Business Performance
  9.3.7. Key Strategic Moves and Developments
9.4. Maxam
  9.4.1. Company Overview
  9.4.2. Key Executives
  9.4.3. Company Snapshot
  9.4.4. Operating Business Segments
  9.4.5. Product Portfolio
  9.4.6. Business Performance
  9.4.7. Key Strategic Moves and Developments
9.5. Poly Permanente Union Holding Group Limited
  9.5.1. Company Overview
  9.5.2. Key Executives
  9.5.3. Company Snapshot
  9.5.4. Operating Business Segments
  9.5.5. Product Portfolio
  9.5.6. Business Performance
  9.5.7. Key Strategic Moves and Developments
9.6. Sichuan Yahua Industrial Group Co. Ltd
  9.6.1. Company Overview
  9.6.2. Key Executives
  9.6.3. Company Snapshot
  9.6.4. Operating Business Segments
  9.6.5. Product Portfolio
  9.6.6. Business Performance
  9.6.7. Key Strategic Moves and Developments
9.7. Enaex S.A.
  9.7.1. Company Overview
  9.7.2. Key Executives
  9.7.3. Company Snapshot
  9.7.4. Operating Business Segments
  9.7.5. Product Portfolio
  9.7.6. Business Performance
  9.7.7. Key Strategic Moves and Developments
9.8. BME South Africa
  9.8.1. Company Overview
  9.8.2. Key Executives
  9.8.3. Company Snapshot
  9.8.4. Operating Business Segments
  9.8.5. Product Portfolio
  9.8.6. Business Performance
  9.8.7. Key Strategic Moves and Developments
9.9. Sasol
  9.9.1. Company Overview
  9.9.2. Key Executives
  9.9.3. Company Snapshot
  9.9.4. Operating Business Segments
  9.9.5. Product Portfolio
  9.9.6. Business Performance
  9.9.7. Key Strategic Moves and Developments
9.10. Austin Detonator
  9.10.1. Company Overview
  9.10.2. Key Executives
  9.10.3. Company Snapshot
  9.10.4. Operating Business Segments
  9.10.5. Product Portfolio
  9.10.6. Business Performance
  9.10.7. Key Strategic Moves and Developments


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