"Actionable Insights to Fuel Your Growth"

Flywheel Energy Storage Market Size, Share & COVID-19 Impact Analysis, By Application (Uninterrupted Power Supply, Distributed Energy Generation, Transport, Data Centers, and Others) and Regional Forecast, 2022-2029

Region : Global | Format: PDF | Report ID: FBI100756



Play Audio Listen to Audio Version

The global flywheel energy storage market size was valued at USD 297.6 million in 2021 and is projected to grow from USD 316.8 million in 2022 to USD 551.9 million by 2029, exhibiting a CAGR of 8.3% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with flywheel energy storage experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global flywheel energy storage market exhibited a growth of 4.9% in 2020 as compared to 2019.

Flywheel Energy Storage (FES) uses a rotor accelerated at a very high speed and maintains the energy in the system as rotational energy. When energy is removed from the system, the flywheel's rotation is reduced due to energy conservation. Adding energy to the system increases its speed. These systems use electric energy input, which is stored as kinetic energy.


 Pandemic Delayed Projects Temporarily Impacted the Market Growth

Various economies across the globe faced unmatched challenges from COVID-19, with people suffering from health, family, and financial conditions. Businesses also faced significant challenges. According to the Energy Storage Association (ESA) survey, industry stakeholders revealed devastating impacts on the energy storage industry.

Subsequently, major renewable and fossil-based energy-producing countries such as China and the U.S. have taken stern actions to impede the growth of the novel coronavirus. Various governments across all the regions have presented stringent action plans to contain the spread of infection. The imposition of lockdown and travel bans caused the delay in several planned projects across the energy storage industry.


Request a Free sample to learn more about this report.

Rising Transition Toward Renewable Energy Generation to Create Lucrative Opportunities for the Market Growth

Renewable Energy Sources (RES) and Distributed Generation (DG) are considered supplements to meet the growing electricity demand. However, due to their intermittent nature across a range of timescales, there are major challenges associated with energy supply coming from renewables, thus creating reliability problems.

Therefore, this has resulted in a thorough examination of existing and soon-to-be-developed energy storage technologies. Furthermore, while many other energy storage devices are limited due to fire hazards, chemical corrosion, temperature restrictions, and short lifespans, flywheels operate throughout a large temperature range without degradation over time. They do not have high operation and management costs.

In this way, flywheels present not only a more energy-efficient solution but also a more cost-effective one. An increase in energy generation from renewable energy sources spurs market opportunities.


Growing Electricity Demand to Increase Energy Storage Installation that Drives Market Growth

Energy Storage Systems (ESS) can balance electrical energy supply and demand by consuming stored energy at times of high need, high generation cost, or when no alternative generation is available. The energy demand continues to increase across various developing countries, such as Brazil, Russia, India, China, and South Africa; hence, this has increased the energy prices. ESS is a vital necessity to aggregate traditional generating plants to meet increasing demand and supplement intermittent RES for their integration into the electrical network. 

While some datasets exist that quantify the storage capabilities found in today's power systems, the current global installed capacity for energy storage struggles from a lack of widespread and accessible data and conflicting definitions regarding what should be included in the baseline; however, various governmental regulations have passed regulatory orders to overcome this issue.

Increasing Production Capacity for Environment-friendly Storage Systems to Boost the Market Growth

As a counterpart to today’s electrical network, there is a high demand for reliable, cost-effective, long-lasting, and environmentally sound energy storage systems to support various energy storage applications. With advances in materials technology, bearings, and power electronics, the technology of flywheels for energy storage has significantly developed.

With the growing advancement and adoption of this technology in energy storage, various manufacturers operating in the market are enhancing their production capacity, resulting in the demand for FES.

In June 2022, Amber Kinetics, Inc, a leading energy storage firm, focused on doubling its energy storage systems by increasing the production capacity of its manufacturing facility in Sto. Tomas, Batangas. With the second plant, the company expects to export its flywheels to other countries that need energy storage systems. Up to 70-80% of the existing plant’s output is for the local market, adding that a flywheel weighs about 2.5 tons.


Lower Energy Density and High Component Costs to Hinder Market Growth

Flywheel Energy Storage System (FESS) is a leading technology for storing energy. However, when comparing FESS to batteries, FESS possesses a higher power output, measured in Watts (W), but cannot store as much energy, Watt-Hours (Wh), for a long time, due to which it is likely to lower its adoption where energy storage is required for a longer duration.

Furthermore, the capital cost of these systems is comparatively high due to the need for special materials such as magnetic bearings, which are required at high speed to have a very balanced system to ensure sufficient mechanical performance. This increases the capital cost of the system.


By Application Analysis

To know how our report can help streamline your business, Speak to Analyst

Uninterrupted Power Supply Segment to Dominate the Market Due to Rising Demand for Continuous Power Supply

Based on application, the market has been segmented into Uninterrupted Power Supply (UPS), distributed energy generation, transport, data centers, and others.

The uninterrupted power supply segment holds the majority of the market share. The demand for continuous and uninterrupted energy is rapidly increasing across the globe. According to the International Energy Association (IEA), the global energy demand rose by 6% in 2021. With the rising demand, interruptions and fluctuations are also increasing in the energy supply. This increases the demand for uninterrupted power supply.

The distributed energy generation segment is another lucrative application of flywheel energy storage as it is known for providing faster power backup. The areas prone to natural disasters majorly install distributed energy generation so that such areas can access electricity during natural disasters.


Asia Pacific Flywheel Energy Storage Market Size, 2021 (USD Million)

To get more information on the regional analysis of this market, Request a Free sample

Geographically, the global market has been analyzed across five main regions, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

Asia Pacific accounts for a majority of the global flywheel energy storage market share. The rising demand for uninterrupted electricity is one of the major growth drivers for the market. China, South Korea, Japan, India, and the Philippines are largely adopting flywheel energy storage technology owing to its high efficiency and long service life advantage. The high demand for continuous electricity and rising investments in storage technology drive the flywheel energy storage market growth.

North America is the most lucrative market where energy storage is concerned. The U.S. accounts for a majority of installed capacity in the North American region. However, Canada is working extensively to enhance its flywheel energy storage capacity. Both countries have planned upcoming projects, and a few projects are underway for flywheel energy storage technology. The above factors drive the growth of the market.

Europe is estimated to grow significantly during the forecast period. The transition toward renewable energy to achieve carbon-neutral status has driven growth for energy storage installation in Europe. Flywheel is a preferred technology owing to its environment-friendly nature and strong power capacity. Thus, the above factors drive the market growth.

Latin America is likely to foresee growth during the forecast period. The region is going through a drastic energy transition. Several countries are rapidly transitioning from traditional sources of energy such as hydroelectricity and crude oils to a diverse energy mix, including various cleaner fuels. This challenges the region to meet the electricity demand across Latin America. Brazil, Jamaica, Argentina, Chile, and others are increasingly investing in and enhancing the capacity of energy storage systems.

The Middle East & Africa region is expected to witness growth during the forecast period. The demand and installation of energy storage systems are widely increasing across the region owing to the rapidly growing demand for continuous electricity among the population. The installation of data centers is also increasing in the GCC. There are 22 data centers in Saudi Arabia and 9 in the UAE. These data centers also tend to adopt flywheel energy storage systems due to their benefits such as high efficiency and reliability, easy maintenance, and more storage power.


Key Market Players are Concentrating on Enhancing Product Portfolios and Forming Collaborative Strategy to Strengthen their Geographical Presence

Various players operate with local, regional, and international footholds across the market. Different companies emphasize producing products that have higher power density and efficiency to enhance their global position. Numerous participants are also producing FESS at the regional or local level. In November 2021, Halliburton invited the developer of flywheel energy storage, Helix Power of Massachusetts, to its cleantech accelerator, a seed funding event wherein partners are connected to Halliburton’s lab facilities in Houston.


  • Active Power (U.S.)

  • Amber Kinetics, Inc (U.S.)

  • Beacon Power, LLC (U.S.)

  • Calnetix Technologies, LLC (U.S.)

  • Piller Group GmbH (Germany)

  • Powerthru (U.S.)

  • VYCON, Inc (U.S.)

  • Stornetic GmbH (Germany)

  • Energiestro (France)

  • Oxto Energy (U.K.)

  • Revterra (U.S.)

  • Adaptive Balancing Power GmbH (Germany)


  • July 2022 - Active Power partnered with Central Power to bring live POWERHOUSE power outage demonstrations alongside Central Power standby generators. The POWERHOUSE has the company’s flagship CLEANSOURCE PLUS MMS 1.33MW UPS with automatic transfer.

  • June 2022 - Adaptive Balancing Power delivered a new charging infrastructure with flywheel storage, enabling switching to e-buses in the area even without expanding the power grids. The pantograph charging station using the high-performance flywheel mass storage will likely go into operation in September. The test phase in regular driving operations is scheduled for 18 months. After a successful test, the infrastructure model will also be transferred to other regions.

  • May 2022 - The global life sciences company, Sartorius, announced that it is using Piller’s UPS systems with flywheel power back-up at its production facility in Göttingen, Niedersachsen, Germany. Along with the UPS solution, Piller Group has provided the Sartorius Group with comprehensive 24/7 support from a Piller service team.

  • November 2021 - Active Power will add markets and geographies with new flywheel installations as it is helping industries transition to net-zero operations.

  • July 2021 - Development Bank of the Philippines (DBP) granted a loan of PHP 750 million to Amber Kinetics Philippines (AKP) to help with production, expansion, and distribution of FES.  


An Infographic Representation of Flywheel Energy Storage Market

To get information on various segments, share your queries with us

The research report provides a detailed analysis of the market share and focuses on key aspects such as leading companies, types, and leading applications of the system. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the market growth in recent years.

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period



Value (USD Million)


By Application and Region

By Application 

  • Uninterrupted Power Supply (UPS)

  • Distributed Energy Generation

  • Data Centers

  • Transport

  • Others

By Region

  • North America (By Application and By Country)

    • U.S.

    • Canada

  • Europe (By Application and By Country)

    • U.K.

    • Germany

    • France

    • Italy

    • Rest of Europe

  • Asia Pacific (By Application and By Country)

    • China

    • Japan

    • South Korea

    • Rest of Asia Pacific

  • Latin America (By Application and By Country)

    • Brazil

    • Rest of Latin America

  • Middle East and Africa (By Application and By Country)

    • GCC 

    • South Africa

    • Rest of the Middle East & Africa

Frequently Asked Questions

Fortune Business Insights says that the global market size was USD 297.6 million in 2021 and is projected to reach USD 551.9 million by 2029.

In 2021, the market value stood at USD 297.6 million

Growing at a CAGR of 8.3%, the market will exhibit healthy growth in the forecast period (2022-2029).

By application, the UPS segment is the leading segment in the market

Increasing production capacity for environment-friendly storage system boosts the market growth.

Calnetix Technologies, LLC, Beacon Power, Active Power, Piller Group GmbH, and Amber Kinetics, Inc. are among the leading players in the global market

Asia Pacific dominated the market in 2021.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • Jan, 2023
  • 2021
  • 2018-2020
  • 137


  • $4850

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.