LONDON — The growing demand for uninterrupted power supply has resulted in the growth of the global thermal energy storage market, which is expected to post a compound annual growth rate (CAGR) of 18.7 percent from 2015-2019, according to research firm Technavio.

A rise in electrical disturbances in the power grid has created a demand for thermal energy storage systems. Installation of these systems helps reduce power disturbances considerably as large-scale grid storage prevents intermittence by providing stored electricity during power shortages.