Market Challenges And Opportunities

A flywheel is a mechanical device designed to store the rotational energy. Increasing demand for fuel efficient vehicles is a major driver for growth of the global automotive flywheel market. Adoption of duel mass flywheels by various Original Equipment Manufacturer (OEM) to reduce the weight of the engine by developing lightweight components to enhance fuel efficiency is expected to boost growth of global automotive flywheel market over the forecast period.

Advances in kinetic energy recovery system also provides growth opportunity to automotive flywheel market. Flywheel-based kinetic energy recovery system continuously transfers the energy form the wheels to the flywheels by variable transmission.

Flywheel-based kinetic energy recovery system aims to mechanically store kinetic energy to other source from rear driveshaft. GKN plc and Volvo are some of the major companies that use the flywheel equipment in there automotive products. For instance, in 2015, GKN plc, an England-based automotive and aerospace company, announced the development of electric flywheel hybrid system for buses. Moreover increasing sales of passenger cars also provides a growth opportunity to the global automotive flywheel market. According to ‘Organisation Internationale des Constructeurs d’Automobiles’ a France-based organization, have sold 69.5 million units of passenger cars in 2016 from 66.3 million units in 2015.