Flywheel UPS Market

Market Overview

The growing use of flywheels in the renewable energy and defence industries is the main trend found in the global market for Flywheel UPS. Flywheels help wind and solar energy to enter into power systems, improving system stability. In applications involving renewable energy systems (RES) for grid frequency balancing, the rapid response characteristics of flywheels make them the preferred option.

Demand for continuous and renewable energy supplies is expected to drive the market along with the growing energy storage industry over the forecast period. The Flywheel allows storage of visceral energy and uses rotor inertia to store and regenerate power. The scheme is mainly used for grid balancing, sustainable integration, and isolated grid power supply.

Renewable energy storage is expected to act as a reliable alternative tominimize, fossil fuel dependence, thereby helping to reduce carbon emissions. The Flywheel UPS use integrated power-dense flywheel technology that stores enough energy and is used to maintain high electrical stability in data centers, computer industries and telecommunications centers.

Market Dynamics

Some of the key drivers for UPS flywheel development are high performance, easy installation, environmentally friendly, low maintenance costs, sustainable and long product life. As the need for an uninterrupted supply of power increases, the demand for energy storage devices is growing, leading to a global expansion of the UPS flywheel industry. However, due to the shorter discharge time, the factor that could hinder the growth of the flywheel energy storage market is that flywheels are not suitable for long-term energy storage. Furthermore, market growth is also limited by a lack of awareness about the use of flywheel energy storage and the availability of other UPS.

Rising Adoption of Flywheel UPS in Aerospace and Transportation Industry

Rising Flywheel UPS adoption in the transport and aerospace industries is expected to drive market growth. In developed and developing countries, increasing automotive demand is expected to strengthen the automotive industry which, in turn, is expected to raise the Flywheel UPS market. The worldwide Flywheel UPS market is expected to drive increased demand for energy storage devices and constant power supply, primarily in commercial work stations.

Rising energy backup demand, usually from the commercial sector, is expected to drive the UPS flywheel market. In the rising industrial and commercial sectors, heavy reliance on digital equipment and automation technologies has resulted in an increasing demand for UPS systems. In turn, this is expected to fuel the demand for Flywheel UPSduring the forecast period.

In addition, increasing demand for a continuous and renewable supply of electricity and the rising energy storage industry are some of the factors driving the growth of the market for Flywheel UPS. In addition, due to its various advantages compared to chemical batteries that include longer life, the ability to operate at extremely low temperatures and the high power density of storing large quantities of energy in a short period of time, the growing demand for the flywheel energy storage device supports the growth of the market.

Continuous Innovation and Rising Dependency on Flywheel UPS Is Anticipated to Bring Lucrative Opportunity for the Key Players

Flywheels are not affected by temperaturevariations and not subject to many common failures of chemical rechargeable batteries. They are often less inherently hazardous, mostly made of inert or innocuous materials. Another benefit of flywheels is that it is possible to know the exact quantity of energy stored by simply calculating the rotation speed.

Unlike other batteries that only run for a limited period of time, a flywheel can have an infinite working life (for example, around 36 months in the case of lithium ion polymer batteries). For more than two hundred years, flywheels designed as part of James Watt's steam engines, have operated continuously. The ancientworking specimens of flywheels mainly used in milling and potterycan be found at several locations in Africa, Asia and Europe.

Most modern flywheels are usually sealed machines that need limited maintenance throughout their lifetime operation. Magnetic bearing wheels in vacuum enclosures do not need any bearing maintenance, and are thus superior to batteries in terms of overall life and energy storage capacity. Due to wear, there would be short lifespans for flywheel systems with mechanical bearings.

Segmental Analysis

Based on Application

the market is bifurcated into Datacenters, Medical Imaging, Industrial Critical Process and Others. In 2019, others segment had the largest market share for Flywheel UPS, owing to the increasing demand for UPS flywheel in grid balancing applications. A stable power grid attains balance by addressing current generation and load imbalances. Thanks to their higher ramp speeds than orthodox power generators, these regular power system fluctuations are effectively controlled by flywheel generators. Thus, it reduces the operating costs of existing power generation plants.

Owing to the increasing demand for isolated grids in remote industries, remote communities and islands, the fastest CAGRs accounted for Industrial critical process during the forecast era. Big IT companies like Google are constantly deploying, dragging and charging flywheels in their large data centers. In the event of temporary power failures, the flywheel energy provides fast power to the connected systems, giving back-up generators time to restart.

On the basis of Industry

the market is bifurcated into Healthcare, Oil and Gas, Defence, Automotive and Others. Automotive segment is projected to register the highest market share over the forecast period with a CAGR of 11.2%. In addition to strengthening economic conditions, the automotive industry is thriving with technological innovation which is the primary growth factor for the global flywheel UPS market.

By modernizing and capturing the market through new technologies, destinations and means of transport, the early adoption of evolving trends plays a vital role. In addition to a healthy demand for automotive industry, the countries of North America and Asia are experiencing a wave of strong economic activity. Moreover, changing demographics and technological advances affect the rise in green energy  trends such as electric vehicle, pollution free fuel, personalization, IoT and customer experience.

Rapid industrialization, coupled with the increasing worldwide demand for uninterrupted power supply in factories and industries, is further increasing the demand for power storage systems for flywheels. The system is increasingly used for balancing the grid and providing power to islands and isolated grids. In addition, flywheels are widely used to replace typical lead-acid batteries and to overcome intermittent energy supply constraints, such as solar PV and wind turbines that do not generate electricity 24/7. This is expected to further stimulate the growth and development of the market for Flywheel UPS.

Impact of covid-19

For most of 2020, the outbreak of the COVID-19 pandemic has kept individuals quarantine in their homes worldwide. Governments have restricted movement and prohibited travel around the world to stop the spread of the disease. Undoubtedly, this has caused individuals to want to escape from isolation and enjoy life as before.

Due to the falling GDP and the disruption of large and small businesses, governments also appear to lift bans and ease restrictions from 2021. This period worked as a boon for Flywheel UPS market as during this pandemic the population became more aware and adapted towards green energy and environment conservation.

Regional Analysis

North America is projected to dominate the UPS flywheel market, mainly due to the presence of large industries and IT companies, coupled with the demand for a continuous supply of electricity to data centres and businesses. Moreover, rapid economic development, higher standards of living and increased demand for a continuous supply of electricity further stimulate the growth of the region's market.

As a result of high automotive demand, Europe is expected to grow in the UPS flywheel market. Due to the growing automotive industry, this is anticipated to have an impact on UPS flywheel market growth during the forecast period.

The Asia-Pacific region is estimated to witness faster CAGRs during the forecast period, with increasing industry demand in automotive, aircraft, food processing, telecommunications, and electricity supplies. Increased per capita disposable income in developing countries such as China, India, Japan and South Korea, frequent power cuts and increased demand for energy supplies continue to boost demand for flywheel energy storage systems, boosting the region's market growth.

Recent Developments

• On 2019, VYCON, a high-speed energy storage flywheel systems designer and manufacturer, announced the addition of the VDC-XXT flywheel model to its VDC clean energy storage solutions line. For 24/7 power protection, the VDC-XXT flywheel model is paired with 3-phase uninterruptible power supplies (UPS). Compared to UPSs that use lead-acid or lithium-ion batteries, VYCON's VDC-XXT provides a greener, more cost-saving solution. This expansion helps to improve the business's product portfolio in the market.

Flywheel UPS Market Segmentation

By Application

• Datacenters
• Medical Imaging
• Industrial Critical Process
• Others

By Industry

• Healthcare
• Oil and Gas
• Defence
• Automotive
• Others

By Region

• North America
• Europe
• The Asia-Pacific
• The SAMEA