DUBLIN, July 25, 2022 /PRNewswire/ -- The "Global Flywheel Energy Storage System Market, By Component By Application By End User By Region, Competition Forecast & Opportunities,
Inkwood Research estimates the global market for flywheel energy storage to grow at a CAGR of 7.50% in terms of revenue and 8.32% in terms of volume during the forecast period, reaching
Energy storage systems (ESSs) are the technologies that have driven our society to an extent where the management of the electrical network is easily feasible. The balance in supply
Flywheels, one of the earliest forms of energy storage, could play a significant role in the transformation of the electrical power system into one that is fully sustainable yet low cost.
Electric vehicles are typical representatives of new energy vehicle technology applications, which are developing rapidly and the market is huge. Flywheel energy storage systems can be mainly used in the field of electric vehicle charging stations and on-board flywheels.
Other opportunities are new applications in energy harvest, hybrid energy systems, and flywheel’s secondary functionality apart from energy storage. The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper.
The use of new materials and compact designs will increase the specific energy and energy density to make flywheels more competitive to batteries. Other opportunities are new applications in energy harvest, hybrid energy systems, and flywheel’s secondary functionality apart from energy storage.
Thanks to the unique advantages such as long life cycles, high power density, minimal environmental impact, and high power quality such as fast response and voltage stability, the flywheel/kinetic energy storage system (FESS) is gaining attention recently.
The performance of flywheel energy storage systems is closely related to their ontology rotor materials. With the in-depth study of composite materials, it is found that composite materials have high specific strength and long service life, which are very suitable for the manufacture of flywheel rotors.
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