Flywheel Energy Storage System Industry Overview The global flywheel energy storage system market size is expected to reach USD 737.99 million, registering a CAGR of 9.8% during the forecast period from 2022 to 2030, according to a new report by Grand View Research, Inc. The rise in climate change issues and environmental concerns led various countries, around the world, to reduce their carbon footprint for power generation and transportation sector and to opt for cleaner and green energy technologies owing to the demand for flywheel energy storage is growing in its specific application segments. The data center is the highest penetration application segment in the flywheel energy storage market due to the growing demand for energy storage devices, in order to overcome the risk of interruptions at the main power supply. UPS, with the second-highest penetration, is one of the most important application areas of flywheel energy storage systems. The growing demand for uninterrupted power supply from industries across various sectors is driving the market for UPS. Flywheel Energy Storage System Market Segmentation Grand View Research has segmented the global Flywheel Energy Storage System Market report based on application and region: Based on the Application Insights, the market is segmented into UPS, data center, distributed energy generation, transport and others
Flywheel Energy Storage System Regional Outlook
Key Companies Profile & Market Share Insights Industry players are practicing several growth policies such as strategic partnerships with other local market players, to set up flywheel energy storage systems across various countries. Such policies enable companies to improve their foothold in the global market. Some of the major manufacturers are exploring other markets and expanding their presence in emerging economies. Thus the companies are keenly looking at certain ways to grow their existence in untapped countries to enhance their market share. Some of the prominent players in the global flywheel energy storage system market include:
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