SAN FRANCISCO, October 17, 2016 /PRNewswire/ --
The global flywheel energy storage market is projected to reach USD 477.8 million by 2024, according to a new report by Grand View Research, Inc. Increasing demand for uninterrupted power supply and growing energy storage industry are expected to fuel the growth of this market. Flywheel systems store and regulate electricity by spinning continuously and hence are used for the majority of the frequency regulation applications. The major difference between photovoltaic solar cells and the flywheel storage systems is that the latter can produce power throughout the day and night.
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The data centers segment held the largest share of 16% in terms of applications in 2015. Growing energy storage industry in the U.S. and the European region projected to drive the market. Growing demand for uninterruptible power supply, particularly from the industrial sector, has provided much-needed momentum.
Browse full research report with TOC on "Flywheel Energy Storage Market Analysis By Application (UPS, Distributed Energy Generation, Transport, Data Centers,) And Segment Forecasts To 2024" at: http://www.grandviewresearch.com/industry-analysis/flywheel-energy-storage-market
Further key findings from the report suggest
Browse related reports by Grand View Research:
Grand View Research has segmented the global flywheel energy storage market on the basis of application and region:
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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