New analysis from Frost & Sullivan (powersupplies.frost.com), World Flywheel UPS Markets, finds the market earned revenues of $51.2 million in 2007 with a growth rate of 9.3 percent for 2007.
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Flywheel energy storage systems outscore traditional lead acid batteries with their compelling advantages such as reliability, small footprint, need for minimal maintenance and environmental friendliness. Despite the high cost to deploy a single flywheel device, its benefits could give the systems a significant competitive advantage. Manufacturers can offset the issue of high capital to promote the total cost of ownership.
"A simple comparison of the cost of the flywheel with a traditional battery clearly indicates that returns on investment can be obtained within the first two and a half to three years of its 20 year lifetime," says Frost & Sullivan Industry Analyst Anu Elizabeth Cherian. "Market participants can increase the year-on-year volume of sales to encourage end users to deploy flywheels instead of replace their batteries."
The system has already found usage in datacenters and industrial applications such as manufacturing and process industries. Flywheel manufacturers expect to find high uptake among many more end-user segments since flywheels keep maintenance issues to a minimum and help end users save effort, time and costs. Unlike batteries, flywheels simply require a check on the vacuum in the container housing the actual wheel to ensure maximum efficiency in the spinning of the wheel.
"The worst case scenario for the flywheel is the reduction in the vacuum," notes Cherian. "Manufacturers take this issue into account and design the required monitoring electronics to keep constant tab on the pressure inside the containerized wheel."
Flywheel systems also benefit from the rise in the prices of lead, which is the main component in lead acid batteries. A five to seven percent increase in the price of batteries enhances the business case for alternative energy storage forms such as flywheels. Since cost is a major purchase factor, this trend expects to elevate the need for viable alternatives such as flywheels.
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World Flywheel UPS Markets