Globally, energy storage project development is increasingly driven by the utility-scale segment, with mandates and targeted auctions driving gigawatt-hour projects in markets like China, Saudi Arabia, South Africa, Australia and Chile.
Mainland China accounts for most of the global energy storage demand, driven in the near term by regional requirements for new utility-scale wind and solar projects to include energy storage capacity. However, the Chinese market is entering an era of change.
Across the region of Europe, the Middle East and Africa, the utility-scale segment is scaling quicker than expected, and will overtake the residential sector to become the largest in the region from 2026, given a sharp ramp-up in targeted support programs and utility procurement.
Since 2024, gigawatt-hour projects have been commissioned or started construction in not only the US and China, but also Saudi Arabia, South Africa, Australia, Netherlands, Chile, Canada and the UK.
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