Flywheels Market Regional Analysis

From 2021 to 2028, the region is expected to dominate at a CAGR of 7.5%. Flywheel energy storage systems currently have the largest market in North America, with the United States being the dominating nation in the region. The expansion of the flywheels market in North America is being driven by the rising demand for energy storage solutions to enable the integration of renewable energy sources and the requirement for dependable backup power in important facilities such as hospitals and data centers.

Due to the nation's quick industrialization and urbanization, the Asia-Pacific region is experiencing the fastest development in the worldwide flywheel market. Numerous middle-class residents in the area have moved in large numbers to urban areas as a result of their rising salaries. Because of their ageing infrastructure, the current electricity grids and distribution systems are unable to meet demand for energy. More than half of the world's population lives in this area, hence there is a need for new infrastructure for grid upgrading and extension to accommodate the expanding populations.