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Market Snapshot

CAGR:9.03

2023

2032

Source: Market Expertz

Study Period	2019-2032
Base Year	2023
Forcast Year	2023-2032
CAGR	9.03

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Report Overview

Mechanical Energy Storage Market Analysis By Application (Grid Storage, Transportation), By Type (Flywheels, Compressed Air Energy Storage, Hydro Energy Storage), and By Region Forecast to 2032:

The Mechanical Energy Storage Market is projected to experience substantial growth with a Compound Annual Growth Rate (CAGR) of 5.72% between 2022 and 2032. This growth is expected to result in an estimated increase of USD 12,345.67 million in market size. The expansion of this market is influenced by several key factors, including the need for efficient energy storage solutions, advancements in mechanical energy storage technologies, and the growing demand for sustainable energy solutions in grid and transportation applications.

Mechanical Energy Storage Market Overview:

Drivers:

One of the primary drivers fueling the growth of the Mechanical Energy Storage Market is the increasing demand for grid storage solutions. As renewable energy sources like wind and solar power become more prominent, there is a need for effective energy storage to address intermittency and ensure a stable power supply. Mechanical energy storage systems, such as flywheels and compressed air energy storage, provide reliable solutions for storing excess energy and releasing it when needed.

Furthermore, advancements in mechanical energy storage technologies, including improved materials and designs, are enhancing the efficiency and performance of these systems. These innovations are making mechanical energy storage more competitive and appealing for various applications.

Trends:

An emerging trend shaping the Mechanical Energy Storage Market is the utilization of flywheels for energy storage in transportation. Flywheel-based energy storage systems are being explored for use in electric and hybrid vehicles, where they can capture braking energy and release it during acceleration, improving vehicle efficiency.

Additionally, hydro energy storage, which involves the use of gravitational potential energy, is gaining traction in grid applications. Pumped hydro storage, in particular, allows excess energy to be stored by pumping water to higher elevations and releasing it through turbines when needed, serving as a scalable and efficient energy storage solution.

Restraints:

One of the key challenges hindering the growth of the Mechanical Energy Storage Market is the high initial investment required for some mechanical energy storage systems. While these systems offer long-term benefits and operational cost savings, the upfront capital expenditure can be a barrier for adoption, especially in regions with limited financial resources.

Furthermore, the geographical limitations of certain mechanical energy storage technologies, such as pumped hydro storage, require specific topographies, limiting their widespread deployment.

Mechanical Energy Storage Market Segmentation By Application:

Grid Storage: Mechanical energy storage systems are crucial for grid applications, providing energy stability, load balancing, and backup power during grid outages.
Transportation: In the transportation sector, mechanical energy storage solutions, like flywheels and kinetic energy recovery systems (KERS), are being used to capture and reuse braking energy in electric and hybrid vehicles.

Mechanical Energy Storage Market Segmentation By Type:

Flywheels: Flywheel-based energy storage systems store energy in the form of kinetic energy by spinning a rotor at high speeds and releasing it as electricity when needed.
Compressed Air Energy Storage: Compressed air energy storage systems store energy by compressing air into reservoirs and expanding it through turbines to generate electricity.
Hydro Energy Storage: Hydro energy storage, including pumped hydro storage, uses the potential energy of water by pumping it to higher elevations and releasing it through turbines to generate electricity.

Regional Overview:

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North America is expected to be a key contributor to the global Mechanical Energy Storage Market, driven by the need for grid stability and the integration of renewable energy sources. The region's focus on energy transition and sustainability fuels the demand for mechanical energy storage solutions.

Europe is another significant market for mechanical energy storage, particularly in grid applications. The European Union's renewable energy goals and grid modernization efforts create opportunities for the adoption of advanced storage technologies.

Mechanical Energy Storage Market Customer Landscape:

The Mechanical Energy Storage Market report covers a diverse customer base, including utilities, grid operators, electric vehicle manufacturers, and industrial facilities. It examines customer preferences, regulatory requirements, and the need for customized energy storage solutions.

Major Mechanical Energy Storage Companies:

Companies in the mechanical energy storage market are investing in research and development to enhance the efficiency and reliability of their systems.

Example companies include:

Beacon Power, LLC: Beacon Power specializes in flywheel energy storage systems for grid applications, offering fast-response frequency regulation and grid support.
General Compression: General Compression focuses on compressed air energy storage solutions that provide scalable and sustainable energy storage for grid stability.
Voith Group: Voith Group offers hydro energy storage solutions, including pumped hydro storage systems, to support grid integration and renewable energy utilization.

The competitive landscape analysis in the report provides insights into key market players, including:

Temporal Energy
Amber Kinetics
SustainX
Energy Vault
Active Power
ARES North America
LightSail Energy
Hydrostor
Gaelectric Holdings PLC
Hydro-Québec

Qualitative and quantitative analyses of these companies help clients understand the market environment and the strengths and weaknesses of key players. Companies are categorized based on focus, dominance, and strength.

Segment Overview:

The Mechanical Energy Storage Market report forecasts revenue growth at global, regional, and country levels and offers an analysis of trends and growth opportunities from 2019 to 2032.

Application Outlook (USD Million, 2019 - 2032):

Grid Storage
Transportation

Type Outlook (USD Million, 2019 - 2032):

Flywheels
Compressed Air Energy Storage
Hydro Energy Storage

Geography Outlook (USD Million, 2019 - 2032):

North America

United States
Canada

Europe

United Kingdom
Germany
France
Rest of Europe

Asia-Pacific

China
Japan
India

Latin America

Brazil
Mexico

Middle East & Africa

United Arab Emirates
South Africa
Rest of Middle East & Africa

TABLE OF CONTENTS: GLOBAL MECHANICAL ENERGY STORAGE MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. MECHANICAL ENERGY STORAGE MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Mechanical Energy Storage Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.5.1. Power Of Suppliers

4.5.2. Power Of Buyers

4.5.3. Threat Of Substitutes

4.5.4. Threat Of New Entrants

4.5.5. Competitive Rivalry

Chapter 5. MECHANICAL ENERGY STORAGE MARKET BY Type INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Pumped Hydro Storage (PHS)

5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Compressed Air Energy Storage (CAES)

5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4. Flywheels

5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. MECHANICAL ENERGY STORAGE MARKET BY End user INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. Industrial

6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Commercial and Residential

6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. MECHANICAL ENERGY STORAGE MARKET REGIONAL OUTLOOK

7.1. Mechanical Energy Storage Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

7.2.1. North America Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.2. North America Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.3. North America Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.4. North America Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

7.2.5.1. U.S. Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.5.2. U.S. Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.5.3. U.S. Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.5.4. U.S. Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

7.2.6.1. Canada Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.2.6.2. Canada Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.2.6.3. Canada Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.2.6.4. Canada Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

7.3.1. Europe Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.2. Europe Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.3. Europe Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.4. Europe Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

7.3.5.1. Germany Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.5.2. Germany Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.5.3. Germany Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.5.4. Germany Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

7.3.6.1. France Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.6.2. France Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.6.3. France Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.6.4. France Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

7.3.7.1. U.K. Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.3.7.2. U.K. Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.3.7.3. U.K. Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.3.7.4. U.K. Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

7.4.1. Asia Pacific Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.2. Asia Pacific Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.3. Asia Pacific Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.4. Asia Pacific Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.5. CHINA

7.4.5.1. China Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.5.2. China Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.5.3. China Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.5.4. China Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

7.4.6.1. India Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.6.2. India Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.6.3. India Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.6.4. India Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

7.4.7.1. Japan Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.7.2. Japan Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.7.3. Japan Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.7.4. Japan Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

7.4.8.1. Australia Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.4.8.2. Australia Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.4.8.3. Australia Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.4.8.4. Australia Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

7.5.1. Mea Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.5.2. Mea Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.5.3. Mea Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.5.4. Mea Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

7.6.1. Latin America Mechanical Energy Storage Market Estimates And Forecast, 2016 – 2027, (USD Million)

7.6.2. Latin America Mechanical Energy Storage Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

7.6.3. Latin America Mechanical Energy Storage Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

7.6.4. Latin America Mechanical Energy Storage Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

7.6.5. Latin America Mechanical Energy Storage Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

8.2.1. New Product Launches

8.2.2. Investment & Expansion

8.2.3. Acquisitions

8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

8.3.1. North American Suppliers

8.3.2. European Suppliers

8.3.3. Asia-Pacific Suppliers

8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. Voith GmbH (Germany)

9.1.1. Company Overview

9.1.2. Financial Performance

9.1.3. Product Insights

9.1.4. Strategic Initiatives

9.2. Sulzer Ltd. (Switzerland)

9.2.1. Company Overview

9.2.2. Financial Performance

9.2.3. Product Insights

9.2.4. Strategic Initiatives

9.3. DeWalt, (U.S)

9.3.1. Company Overview

9.3.2. Financial Performance

9.3.3. Product Insights

9.3.4. Strategic Initiatives

9.4. Ingersoll Rand (U.S)

9.4.1. Company Overview

9.4.2. Financial Performance

9.4.3. Product Insights

9.4.4. Strategic Initiatives

9.5. Hitachi, Ltd. (Japan)

9.5.1. Company Overview

9.5.2. Financial Performance

9.5.3. Product Insights

9.5.4. Strategic Initiatives

9.6. Porter-Cable (U.S)

9.6.1. Company Overview

9.6.2. Financial Performance

9.6.3. Product Insights

9.6.4. Strategic Initiatives

9.7. Kirloskar Pneumatic Co Ltd. (India)

9.7.1. Company Overview

9.7.2. Financial Performance

9.7.3. Product Insights

9.7.4. Strategic Initiatives

9.8. Atlas Copco AB (Sweden)

9.8.1. Company Overview

9.8.2. Financial Performance

9.8.3. Product Insights

9.8.4. Strategic Initiatives

9.9. Active Power Inc.(U.S)

9.9.1. Company Overview

9.9.2. Financial Performance

9.9.3. Product Insights

9.9.4. Strategic Initiatives

9.10. Beacon Power (U.S)

9.10.1. Company Overview

9.10.2. Financial Performance

9.10.3. Product Insights

9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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Mechanical Energy Storage Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032