Europe Flywheel Energy Storage System Market Size & Outlook
Europe flywheel energy storage system market, 2018-2030 (US$K)
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Europe flywheel energy storage system market highlights
- The Europe flywheel energy storage system market generated a revenue of USD 42,047.1 thousand in 2023.
- The market is expected to grow at a CAGR of 10.9% from 2024 to 2030.
- In terms of segment, distributed energy generation was the largest revenue generating application in 2023.
- Distributed Energy Generation is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, Germany is expected to register the highest CAGR from 2024 to 2030.
Europe data book summary
| Market revenue in 2023 | USD 42,047.1 thousand |
| Market revenue in 2030 | USD 86,698.7 thousand |
| Growth rate | 10.9% (CAGR from 2023 to 2030) |
| Largest segment | Distributed energy generation |
| Fastest growing segment | Distributed Energy Generation |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD thousand |
| Market segmentation | UPS, Distributed Energy Generation, Transport, Data Centers |
| Key market players worldwide | Longfor Group Holdings Ltd, Magic Software Enterprises Ltd, Phillips 66, TotalEnergies SE, Volcon Inc, Tianjin Port Development Holdings Ltd, Kinetic Development Group Ltd |
Other key industry trends
- In terms of revenue, Europe region accounted for 9.5% of the global flywheel energy storage system market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 86,698.7 thousand by 2030.
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Flywheel Energy Storage System Market Scope
Flywheel Energy Storage System Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe flywheel energy storage system market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to flywheel energy storage system market will help companies and investors design strategic landscapes.
Distributed energy generation was the largest segment with a revenue share of 25.12% in 2023. Horizon Databook has segmented the Europe flywheel energy storage system market based on ups, distributed energy generation, transport, data centers covering the revenue growth of each sub-segment from 2018 to 2030.
Europe is considered to be one of the most developed regions in the world. In March 2016, the first hybrid flywheel energy storage plant was developed in Europe. Germany, UK, and Italy are some of the biggest markets for energy storage in this region, which are driving the flywheel energy storage market here.
Growing automobile industry, particularly in countries such as Germany and Italy are further increasing the demand for flywheel energy storage systems in Europe. This region accounted for around 9% of the global flywheel energy storage market in 2019.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Europe flywheel energy storage system market , including forecasts for subscribers. This continent databook contains high-level insights into Europe flywheel energy storage system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Europe flywheel energy storage system market size, by country, 2018-2030 (US$K)
Europe Flywheel Energy Storage System Market Outlook Share, 2023 & 2030 (US$K)
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