TechNavio today launched its report Global Flywheel Energy Storage Market 2011-2015 based on an in-depth analysis covering the Americas, and the EMEA and APAC regions. The report aims to aid decision makers’ understanding of the significant trends impacting this market.
Commenting on the report, an analyst from TechNavio’s Clean Tech team said: ”In various developing countries such as in the Americas, the advancements in technology that are taking place with regard to grid storage are enormous. Countries across the globe are investing in various energy storage systems and batteries in the Grid Storage sector. Investment is also being made in capacitors, compressed air energy storage, and lead acid batteries, in addition to the flywheel energy storage systems in the Grid Storage sector. Another major technology that is in demand is Electrical Vehicles (EVs) which use flywheel energy storage systems. This is a major trend affecting the Global Flywheel Energy Storage market.”
According to the report, it is predicted that by 2035 the global energy demand will increase tremendously, but the energy consumption pattern is likely to vary in each country. The current demand for energy is expected to more than double globally by 2020. It is not possible to meet the future demand with the existing power generation capacity. The storage of energy will help to maintain a backup to cater to the high future demand. Large-scale grid energy storage systems will meet this need and flywheel energy storage systems will enable this grid power storage to take place. Consequently, the growing energy demand will increase the growth of the Global Flywheel Energy Storage market.
Further, the report discusses that one of the major challenges confronting the market is lack of familiarity with flywheel technologies.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-flywheel-energy-storage-market-2…
TechNavio, the market research platform of Infiniti Research Ltd, publishes periodic market research reports on niche and emerging technologies. For more information on our Clean Tech market research, please visit https://www.technavio.com/clean-technology
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TechNavio Announces the Publication of its Research report – Global Flywheel Energy Storage Market 2011-2015
