The flywheel is a revolving wheel used to increase the momentum of the machine and thus provide an uninterrupted energy source. Flywheel ACG i.e. Alternating Current Generator generates the electric power from the flywheel rotation. For maintenance of sustained source of energy, automotive industries are using energy storage system in the vehicles. Flywheels thus are used which can store the energy in the form of kinetic energy. The spinning of the flywheel is triggered by the moment of inertia which provides the ease to the flywheel to store and use this energy. The flywheel maintains the flow of energy to avoid damage caused by excessive or lower energy supply. The flywheel speeds up when it stores the energy, and it slows down when it discharge the energy. The global flywheel ACG market is expected to gain traction in the forecast period 2017-2027.
The increase in industrial applications is driving the flywheel ACG market. The global flywheel ACG market is majorly driven by the factors such as increasing demand for the uninterrupted power supply, growing cost for the conventional energy generation and rapid growth in the energy storage industry. The features of flywheel ACG such as maintaining the energy supply flow, convenience in the storage, non-dependence on the external temperature, and compatibility of a moment of inertia as depending on the engine propels the growth of global flywheel ACG market in the forecast period. Moreover, the factors such as modernization in the industrial process, awareness about the technological effects and tendency to avoid the losses caused due to power failure attract various industries to opt for the flywheel ACG systems. It is thus projected to show significant growth during the forecast period 2017-2027.
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However, the factors such as less energy storage capacity per volume, higher losses and increased volume and mass affect the demand for the global flywheel ACG market. The availability of other energy storage systems also affects the demand for the flywheel ACG market. Moreover, lack of familiarity with the flywheel technologies may also influence the global flywheel ACG market.
The global flywheel ACG market on the modes of operation is segmented into
- Charge mode
- Stand-by mode
- Discharge mode
The global flywheel ACG market by its applications is segmented into
- Automotive Industries
- Data Centers
- Un-interruptible power supply
- Aircraft launching systems
- Motor Sports
- Wind Turbines
- Amusement rides
The Global Flywheel ACG Market is driven by the data center applications. The data centers where all the data mining and storage takes place is the crucial part of every industry where all the data is stored. The flywheel ACG is used in the various vehicles such as cars, rails, and motor sports. The need to have the uninterrupted power supply and avoid the damage caused due to power failure, flywheel ACG is used in aircraft launching systems, rail electrification, wind turbines and other such applications. Thus the application segment dominates the other segments of the global flywheel ACG market.
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Geographically, the Global Flywheel ACG Market is categorized into seven regions including Latin America, North America, Eastern Europe, Western Europe, Middle East and Africa, Japan and Asia Pacific exclusive of Japan. Due to growing inclination towards the modernization of the industrial working, there is a constant need for the availability of energy storage system in the North America and Europe. Thus North America and Europe dominate the global flywheel ACG market and is expected to have steady CAGR over the forecast period. Asia Pacific due to rapid industrialization and being a center of major IT industries, the data center segment of these industries demand reliable energy storage systems and thus is expected to have significant CAGR during the forecast period. Asia Pacific is projected to have a positive outlook during the period 2017-2027.
Some of the prominent players for the Global Flywheel AG Market includes:
- Mitsubishi Electric Corporation
- Luthra Industrial Corporation
- Amber Kinetics Inc.
- Honda Motorcycle
- Shihlin Electric & Engineering Corp.
- Pronto Great China Corp.