Latin America Flywheel Energy Storage System Market Size & Outlook
Latin America flywheel energy storage system market, 2018-2030 (US$K)
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Latin America flywheel energy storage system market highlights
- The Latin America flywheel energy storage system market generated a revenue of USD 26,438.1 thousand in 2023.
- The market is expected to grow at a CAGR of 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 26,438.1 thousand |
| Market revenue in 2030 | USD 48,427.0 thousand |
| Growth rate | 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, Latin America region accounted for 6.0% 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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Latin America 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 19.61% in 2023. Horizon Databook has segmented the Latin America 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.
Central & South America is considered to be one of the upcoming regions of the world. This region comprises some of the emerging countries such as Brazil, Argentina, Colombia, and Chile. Similar to Asia Pacific, this region is also prone to frequent power interruptions, which can prove to be a hindrance to the growth of the economies of countries located in the region.
Thus, the demand for UPS systems is on the rise in the region. Batteries are more commonly used as energy storage systems in this region. However, growing importance of renewable energy resources has increased the demand for flywheel energy storage systems, which do not release chemicals and harm the environment, unlike the lead acid and Li-ion batteries.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America flywheel energy storage system market , including forecasts for subscribers. This continent databook contains high-level insights into Latin America flywheel energy storage system market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America flywheel energy storage system market size, by country, 2018-2030 (US$K)
Latin America Flywheel Energy Storage System Market Outlook Share, 2023 & 2030 (US$K)
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