According to BloombergNEF, global energy storage capacity has been growing, with a total of 16GW added last year, equivalent to a year-on-year increase of 68%.
BNEF's Energy Storage Market Outlook series report shows that global energy storage will reach record growth in 2022. By 2030, the compound annual growth rate will be 23%, and the annual increment will reach 88GW and 278GWh
The Europe, the Middle East and Africa (EMEA) added 4.5GW of capacity last year. By 2030, the EMEA region (Europe, Middle East, Africa) will account for 24% of global installed capacity and is expected to reach a cumulative 114GW, or 285GWh, by the end of 2030, with the UK, Germany, Italy, Greece and Turkey leading the growth.
The Americas are expected to account for 21% of global annual energy storage capacity in GW by 2030.
The Asia-Pacific region (APAC) is likely to dominate capacity growth in the coming years, accounting for 44% of new capacity additions in 2023.
China is expected to lead deployment in the region, driven by local targets and mandated renewable energy integration policies ,and is expected to be the largest energy storage market by 2030.
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