The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The flywheel energy storage market in Europe is evaluated to register a CAGR of 9.18% in terms of volume during the projected period of 2020-2028. In terms of revenue, the market is anticipated to reach a CAGR of 7.80% during this period. The main factor favoring the growth of the market in the region is the investment from government, public, and private units. The investments by the significant European economies such as Germany, France, the UK, and Italy are driving the market growth.
In order to understand the huge potential of the European flywheel energy storage market, the region is segregated into countries such as Germany, Russia, the UK, France, Poland, Italy, Belgium, and the rest of Europe. In Russia, energy storage is of utmost importance for everyone associated with renewable energy. The country plans to generate 4.5% of electricity from renewable sources by 2024. Hence, 5.5 GW of renewable capacity and energy storage systems will have to balance the fluctuating wind and solar energy generation. Many manufacturers and developers are working on innovative projects for energy storage systems. Belgium promotes electricity from renewable sources mainly through a quota system based on the trade certificates. Brussels has committed to reaching 850 GWh of renewable energy consumption by 2020, which has to be fulfilled by the regional development of biomass and solar energy. In Poland, data center services are one of the most emerging segments of the IT industry. Ireland is the first European country to build a new type of ultra-efficient system to store renewable energy and feed it back into the grid when required.
ABB Ltd., Adaptive Balancing Power, The Piller Group GmbH, Active Power, Beacon Power, LLC, etc. are some of the prominent companies operating in the market.
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- 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