MARKET OVERVIEW- FLYWHEEL UPS MARKET
A flywheel UPS is a power protection system that uses the energy stored in a spinning flywheel to provide backup power during a power outage. It comprises a motor-generator set and a flywheel that is constantly spinning while connected to the main power supply. In the event of a power outage, the energy stored in the flywheel is used to power critical loads. Flywheel UPS systems have several advantages over traditional battery-based systems, including greater efficiency, longer lifespan, less maintenance, and a smaller physical footprint. They are typically designed for lower power capacities, ranging from a few kilowatts to several hundred kilowatts. Flywheel UPS systems are commonly used in critical facilities like data centers and hospitals. Although they are generally more expensive than battery-based UPS systems, they can be more cost-effective in the long run due to their lower maintenance requirements and longer lifespan.
MARKET DRIVERS
The demand for uninterrupted power supply has increased due to the automation and digitization of critical processes across various industries. Flywheel UPS systems provide a reliable and efficient solution to this need. In addition, organizations are focusing on energy efficiency to reduce their energy consumption and carbon footprint. Flywheel UPS systems are more energy efficient than traditional battery-based systems as they do not require constant battery charging and discharging. As the demand for flywheel UPS systems has increased, their cost has decreased, making them more accessible to a wider range of organizations. Furthermore, flywheel UPS systems can bridge the gap between intermittent renewable energy supply and the need for continuous power, which is becoming increasingly important due to the growing adoption of renewable energy sources such as solar and wind power. Finally, flywheel UPS systems meet regulatory and compliance requirements in many industries, making them a preferred choice over battery-based UPS systems.
MARKET OPPORTUNITIES
Flywheel UPS systems offer several advantages over traditional battery-based UPS systems, making them a popular choice for various industries. One such industry is data centers, which heavily rely on UPS systems due to the growth of cloud computing and the importance of data in the modern world. Flywheel UPS systems have lower maintenance requirements, longer lifespan, and higher efficiency than their battery-based counterparts. Similarly, hospitals, healthcare facilities, and telecommunications infrastructure require reliable power backup systems to ensure uninterrupted operation, and flywheel UPS systems can provide an efficient and reliable solution. Industrial processes also require a dependable power source, and flywheel UPS systems can reduce downtime and increase productivity. Finally, military and defense applications require reliable and efficient power backup systems for mission-critical equipment in the field, where flywheel UPS systems can be a viable option.
MARKET RESTRAINTS
The use of flywheel UPS systems is restricted by two main limitations. Firstly, they provide backup power for a limited period of time, usually only a few minutes, which may not be sufficient for certain applications such as hospitals, data centers, and manufacturing plants. Secondly, their initial cost is relatively high compared to traditional battery-based UPS systems, which could discourage some potential customers from adopting this technology. Additionally, flywheel UPS systems are best suited for specific applications such as data centers where reliability and low maintenance are essential, limiting their market potential in other applications such as residential and small commercial buildings.
MARKET GROWTH CHALLENGES
Flywheel UPS technology is not well known among businesses and consumers, which makes it challenging for manufacturers to promote and sell these systems. Additionally, Flywheel UPS technology faces competition from other technologies such as battery-based UPS systems, fuel cells, and solar power systems, which makes it difficult to gain market share in some regions. Maintaining Flywheel UPS systems is also a challenge as it requires regular maintenance such as bearing replacement and lubrication.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the Flywheel UPS market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. A rise in demand for Flywheel UPS in various applications is anticipated to stimulate the growth of the market and due to this factor, the market is expected to witness growth at a specific CAGR from 2023-2029.
MARKET SEGMENTAL OVERVIEW
The Flywheel UPS market comprises of different market segments like Industry, application and geography
FLYWHEEL UPS MARKET BY INDUSTRY
By Industry Flywheel UPS market finds key industries like
- Manufacturing Oil and Gas
- Automotive
- Aerospace and Defense
- Railways
- Others
The Industry Flywheel UPS market is experiencing growth due to the rising demand for uninterrupted power supply in critical industries, particularly in manufacturing such as oil and gas. Power outages can cause significant production and revenue losses, and Industry Flywheel UPS systems offer an effective solution to prevent such incidents. The automotive sector is also expected to contribute to the Industry Flywheel UPS market growth due to the need for uninterrupted power supply in the manufacturing of electric vehicles and the growing demand for high-performance computing in autonomous vehicles. Moreover, the aerospace and defense industry is likely to adopt Industry Flywheel UPS systems for reliable backup power in critical situations, such as power outages and emergencies. Additionally, Industry Flywheel UPS systems are expected to find increased usage in the railway industry, particularly for providing reliable backup power to critical systems such as signaling and control systems.
FLYWHEEL UPS MARKET BY APPLICATION
By application, Flywheel UPS Market Finds major applications in
- Datacenters
- Wind Turbines
- Medical Imaging
- Aircraft Launching System
- Broadcast
The Flywheel UPS (Uninterruptible Power Supply) market caters to various industries such as data centers, wind turbines, medical imaging, aircraft launching systems, and broadcast, providing a dependable and efficient backup power source during power outages. The market is predicted to exhibit positive growth due to a rising demand for reliable and efficient backup power solutions in several sectors. Data centers are one of the major end-users of Flywheel UPS systems, requiring continuous backup power to maintain uninterrupted operations of critical IT infrastructure. With the surge in cloud computing and the need for data storage and processing, the demand for Flywheel UPS systems in data centers is projected to increase substantially. Flywheel UPS systems are also utilized in the wind power industry to provide backup power to wind turbines in the event of grid outages or other disruptions. The growing popularity of renewable energy sources is expected to drive the demand for Flywheel UPS systems in this industry. In the medical imaging sector, Flywheel UPS systems ensure uninterrupted power supply to crucial medical equipment such as MRI machines, X-ray machines, and CT scanners. The increasing demand for sophisticated medical imaging techniques is anticipated to fuel the growth of the Flywheel UPS market in this industry. Moreover, the aircraft launching system and broadcast industries also require reliable backup power solutions to ensure the continuous functioning of vital equipment. Thus, the Flywheel UPS market is poised to grow across various sectors in the future.
FLYWHEEL UPS MARKET BY REGION
The Flywheel UPS market is studied for the following region
- North America
- Asia Pacific
- Europe
- Rest of the world
The Flywheel UPS market is predicted to grow at different rates across various regions. North America is anticipated to experience a moderate growth rate due to the increasing adoption of renewable energy sources and a surge in data centers. The United States is the biggest market for Flywheel UPS in North America because of the presence of leading data center operators and cloud service providers. Asia Pacific is projected to have the highest growth rate for Flywheel UPS due to the escalating demand for reliable power backup solutions in countries like India, China, and Japan. The region is also witnessing a rise in data centers and cloud-based services, which is driving the Flywheel UPS demand. Europe's Flywheel UPS market is expected to grow steadily due to the rising demand for sustainable and energy-efficient power backup solutions. The major markets for Flywheel UPS in Europe are anticipated to be Germany, France, and the UK. the Flywheel UPS market in the rest of the world, including regions like the Middle East, Latin America, and Africa, is also expected to experience significant growth due to the increasing demand for power backup solutions in several industries such as telecommunications, healthcare, and oil & gas.
COVID-19 IMPACT ANALYSIS ON THE FLYWHEEL UPS MARKET
Axiom MRC provides a 360-degree analysis of micro and macroeconomic factors in the Flywheel UPS market. In addition, a complete analysis of changes in the Flywheel UPS market expenditure, and economic and international policies on the supply and demand side is provided in this exclusive report. The report also studies the impact of the pandemic on Global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
The disruption in global supply chains due to lockdowns and travel restrictions has caused a shortage of materials and delayed the production of Flywheel UPS systems. In addition, the slowdown in industries such as manufacturing and construction has led to a decrease in demand for energy backup systems, including Flywheel UPS. However, the pandemic has also created new opportunities for the market, as the trend of remote working has increased demand for data centers and cloud services that require reliable backup power systems. As a result, Flywheel UPS systems offer a sustainable and dependable solution for uninterrupted power supply.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Flywheel UPS market is majorly focused on expanding the Global growth of Flywheel UPS industry with new product innovation, and business expansion, the increasing presence of a range of manufacturers operating in the aluminum wire rod sector has led to he growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required consumer demand, further contributing to healthy growth in the market.
The key players studied in market are
- ABB
- Schneider Electric
- Active Power GmbH
- Gmmco
- General Electric
- Electronic Representative Association
- Eaton
- Hitech electric elektronik TIC
- Vycon
- Mitsubishi Electric Power Product INC
- Elytt Energy
RECENT DEVELOPMENT:
May 2019: Energiestro, an innovative French company that specializes in flywheel energy storage technology, partnered with Voltalia to introduce a new storage solution - concrete flywheels.
May 2020: InCampus GmbH, a joint venture between AUDI AG and the city of Ingolstadt, utilized Piller Power Systems UPS technology to safeguard the power supply for a multi-megawatt data center spanning over 10,000 square meters. The data center's power will be protected by four Piller UNIBLOCK UBTD+ UPS systems, which utilize POWERBRIDGE™ kinetic energy storage - one of the cleanest and most sustainable power sources available.
