Global energy storage capacity is poised for steady growth and predicted to reach a new record in additions for 2025.
The total energy storage capacity installations for 2025 are expected to exceed 92 GW/247 GWh, up 22.7% from 2024 according to BloombergNEF. Over half of this annual build is ascribed to China; the U.S. accounts for 14% of total capacity additions.
Excluding pumped hydropower, global energy storage deployment is predicted to reach 123 GW/360 GWh in 2026, or 33% higher than 2025. Over the next 10 years, cumulative energy storage additions will grow around 23% annually and reach 2 TW/7.3 TWh, a 12-fold increase from the total in 2024.
Utility-scale projects are set to account for 84% of annual gigawatt-hour additions in 2025. Through 2028, short-duration energy storage — primarily projects with less than six hours of capacity — will make up around 80% of total installations by gigawatt-hours.
Lithium iron phosphate is expected to retain its dominant market share over the next decade, driven by lower costs and longer cycle life relative to nickel-based lithium-ion battery chemistries.
