KEY FINDINGS The North American flywheel energy storage market is estimated to grow at a CAGR of 8.35% in terms of volume, and 7.59% in terms of revenue over the forecast period of 2020-2028. The high investments by public and corporate financial investors have led to a significant increase in the number of installations in North America. Further, the rise in need for energy across the region leads to surging demand for efficient and reliable energy storage systems. The favorable regulatory policies drive the growth of the market in the region. Also, technological advancements and installation of systems will reduce the cost of the traditional methods of energy storage.
MARKET INSIGHTS The North American market of flywheel energy storage is surveyed through the countries of the US and Canada, with the US dominating the market.In Canada, the power sector is dominated by renewable energy sources, especially hydropower.
States such as Ontario have witnessed hydroelectric and natural gas generated power supply leading to a significant increase in solar and wind power generation.IESO, Ontario, has acquired a suite of energy storage technologies for utility-scale applications of short and long duration.
The technologies include flywheels, flow batteries, solid-state batteries, and compressed air energy storage.Ontario, the country’s leading solar province, has the first grid-connected energy storage facility in Canada.
The 2MW flywheel energy storage facility of Ontario will provide regulation service to the Independent Electricity System Operator, and allow it to balance increasing volumes of intermittent renewable on the grid.
COMPETITIVE INSIGHTS Acumentrics Inc., Calnetix Technologies, LLC Amber Kinetics, Inc., Active Power, Beacon Power, LLC, etc. are some of the prominent companies operating in the market.
Our report offerings include: • Explore key findings of the overall market • Strategic breakdown of market dynamics (Drivers, Restraints, Opportunities, Challenges) • Market forecasts for a minimum of 9 years, along with 3 years of historical data for all segments, sub-segments, and regions • Market Segmentation cater to a thorough assessment of key segments with their market estimations • Geographical Analysis: Assessments of the mentioned regions and country-level segments with their market share • Key analytics: Porter’s Five Forces Analysis, Vendor Landscape, Opportunity Matrix, Key Buying Criteria, etc. • Competitive landscape is the theoretical explanation of the key companies based on factors, market share, etc. • Company profiling: A detailed company overview, product/services offered, SCOT analysis, and recent strategic developments
Companies mentioned 1. ACTIVE POWER 2. AMBER KINETICS, INC. 3. BEACON POWER, LLC 4. CALNETIX TECHNOLOGIES, LLC 5. ACUMENTRICS INC. 6. PILLER GROUP GMBH 7. POWERTHRU 8. TEMPORAL POWER LTD 9. ABB LIMITED 10. ADAPTIVE BALANCING POWER 11. SCHWUNGRAD ENERGIE LTD. 12. STORNETIC 13. AMERICAN MAGLEV TECHNOLOGY
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