Flywheel Energy Storage Market to increase by USD 200.38 million between 2022 to 2027; North America is estimated to contribute 30% to the growth - Technavio [Yahoo! Finance]
Stantec Inc (STN)
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Source: Yahoo! Finance
NEW YORK Jan. 22, 2024 /PRNewswire/ -- The flywheel energy storage market is expected to grow by USD 200.38 million from 2022 to 2027, according to Technavio. In addition, the growth momentum of the market will progress at a CAGR of 9.13% during the forecast period. North America accounts for of the growth of the global market during the forecast period. Increased investments and state-level initiatives in North America have propelled the flywheel energy storage market's expansion. This growth is driven by rising demand for advanced grid storage facilities, supported by Smart Grid Technology, Distributed Energy Resources, Carbon Footprint Reduction, Demand Response, Regenerative Braking Systems, and Uninterruptible Power Supplies (UPS). Favorable government policies, the imperative to curb CO2 emissions, and the need to address the intermittent nature of renewable energy sources further fuel this demand. Market Trends, Investment and Funding, Regulatory Framework, and Technological A
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STN
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- 2/28/24 - Beat
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- 3/27/24 - Form 6-K
- STN's page on the SEC website