Flywheel UPS Market

COVID-19 Impact analysis

• In COVID-19 pandemic ceased production of various products in the flywheel UPS market. This has hampered growth of the flywheel UPS market for last few months, and is expected to continue in 2022.
• The COVID-19 affected sales of the flywheel UPS market in the first quarter of 2022, and is anticipated to have a negative impact on the market growth throughout the year.
• Major demand for the flywheel UPS market are previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which were negatively affected by the spread of coronavirus, thereby leading to decline in demand for the market.
• Further, the potential impact of the lockdown is currently vague and financial recovery of companies totally based on their cash reserves. Manufacturers in the market expected to afford a full lockdown only for a few months, after which they have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 crisis.
• Manufacturers in the market are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, use of sanitizers, maintenances of social distance, and ensuring vaccination of every employee in companies, which is anticipated to assist in promoting health & safety of workforce. 

Top Impacting Factors

• Increase implementation of flywheel UPS system in transportation and aerospace industries, owing to energy storage systems is expected to boost market growth. Rise in automotive manufacturing is expected to strengths the automotive sector in both developed and developing countries, boosting the flywheel UPS market..
• The global flywheel UPS market is driven by a rise in demand for energy- storage devices and steady power supply, mostly in business workstations. In addition, the market is also expected to grow, owing to rise in demand for energy backup, especially from the business sector.
• There is increase in demand for UPS systems, owing to surge in the reliance on digital equipment and automation technologies in the industrial and commercial sectors. This factor drives the growth of the flywheel UPS market.
• Most of current flywheels are sealed machines that require less maintenance for the entire life time. Vacuum enclosures, magnetic bearing wheels, out-perform batteries in terms of overall life and energy storage capacity due to minimal bearing maintenance. It is equipped with mechanical bearings expected to shorter lifespans to wear. This is the restraining factor for the market.

 Market Trends

• New products with improved capabilities are launched by leading market players. In 2019, VYCON has launched new VDC-XXT flywheel model to its product portfolio, VDC clean energy storage solutions range. The VDC-XXT flywheel variant is combined with three-phase uninterrupted power supply for continuous power protection (UPS). VYCON's VDC-XXT is more environment friendly and more cost-effective compared to UPSs that use lead-acid or lithium-ion batteries. 
• Key players in the flywheel UPS market are adopting strategies such as product launch to meet new demands from customers. For instance, in September 2019, ABB launched a new product which was first medium voltage UPS in the industry.

Key Benefits of the Report

• This study presents an analytical depiction of the flywheel UPS market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, opportunities, and market share of the flywheel UPS market. 
• A quantitative analysis highlights the flywheel UPS market growth.
• Porter’s five forces analysis illustrates potency of buyers & suppliers in the market. 
• The report provides a detailed flywheel UPS market analysis based on competitive intensity and how the competition expected to take shape in coming years.