Flywheel Energy Storage Market is estimated to be US$ 700.87 million by 2030 with a CAGR of 7.5% during the forecast period
The report " Flywheel Energy Storage Market , By Type (Steel Rims and Composite Rims), By Application (Uninterrupted Power Supply (UPS), Distributed Energy Generation, Data Centers, and Others (Transportation, Spacecraft, and Military)), and Region - Global Forecast to 2030" Global Flywheel Energy Storage Market accounted for US$ 343.2 million in 2020 and is estimated to be US$ 700.87 million by 2030 and is anticipated to register a CAGR of 7.5%. Increasing automobile sector and use of flywheel energy storage system application over conventional energy source is a factor propelling growth of the global flywheel energy storage system market. In addition, government initiatives to promote advanced energy storage is boosting growth of the global flywheel energy storage market over forecast period. Increasing applications of flywheel energy storage system in cloud-base data centers and exploding electrical vehicle sector are expected to create lucrative opportunity for players