Thermal Energy Storage (TES) Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast, 2013 - 2019
Thermal energy storage (TES) stores excess thermal energy in a storage medium and supplies it back in later use. TES can be utilized on an individual, multiuser, district or even on larger scale.TES systems provide balance between day time and night time or summer time and winter time. TES is commonly used in air conditioning activities of commercial buildings, where heat is stored during cooling cycles and recovered during heating cycles. It also helps in energy saving hence, TES makes air conditioning process sustainable. TES can also be accompanied by solar power. With the help of solar collectors or concentrated towers, the thermal energy is captured and stored for the future use. As TES can store captured heat from environment even on massive scale, it can help to prevent environment from global warming.
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TES technology involves utilization of various storage mediums to store the captured thermal energy. These mediums include: water, ice, slush tanks, heat pumps, salt solutions, bed-rock and phase-change materials. North American as well as European countries have shown a significant demand for TES in commercial, industrial and residential propose. However, Asia Pacific and RoW are expected to widen-up opportunities for industrial purpose.
One of the major factors driving this market is the ever growing demand for energy across the world. Similarly, the industrialization happening in developing countries is also driving the growth of the market. However, high initial setup costs for storage mediums as well as maintenance costs can act as restraint to the market in some regions. Automated computer controlled systems are expected to be the...