Emerging Energy Storage Technologies: Trends, Leading Players and Key Challenges

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Global power networks are undergoing an unprecedented level of change, with mounting electricity demand from traditional sectors as well transport, and industrial facilities placing added pressure on grids. Rising demand and the shifting nature of power supply pose novel challenges to grid balancing efforts. The industry response has been a steep uptick in energy storage project activity, with over 4,000 energy storage projects in the pipeline globally.

Global power networks are undergoing an unprecedented level of change, with mounting electricity demand from traditional sectors as well transport, and industrial facilities placing added pressure on grids. In addition, the proliferation of AI and a rapid roll-out of data centres also hold the potential to increase power demand further. As a result, the goal of accommodating peak power demand continues to shift.
Rising demand and the shifting nature of power supply pose novel challenges to grid balancing efforts. The industry response has been a steep uptick in energy storage project activity, with over 4,000 energy storage projects in the pipeline globally. The bulk of active energy storage capacity is comprised of pumped hydropower projects and the current slate of project announcements point to the potential for strong future growth. However, the extent to which the technology can be deployed in tandem with renewables is limited.
An increasingly broad range of technologies are being explored by the power sector, spanning electromechanical, electrochemical, and thermal storage pathways. This report provides an overview of the key areas of innovation across energy storage technologies as the power sector pursues scalable solutions that can tackle renewable intermittency and provide long-duration storage.

Scope

Snapshot of the global power mix

Energy storage capacity outlook

Regional distribution of energy storage capacity

Emerging energy storage framework

Challenges of scaling energy storage capacity

Case studies of innovative energy storage technologies

Key Highlights

A rapid pace of renewable installations continues to bolster the contribution of renewables to the overall power mix.

Solar PV and onshore wind continue to represent the key drivers of this growth, with the two technologies accounting for 7.3% and 7.6%, respectively, of total generation in 2024.

Global energy storage capacity is expected to increase at a CAGR of 40% between 2015 and 2030, indicating a strong increase in project announcements as well as a movement towards larger-scale projects, which has been facilitated by the commercialization of modular and stackable energy storage systems.

However, despite the increasingly global uptake of renewables, energy storage capacity remains regionally uneven.

Reasons to Buy

Gain insight into the energy storage capacity outlook.

Identify the key trends that are driving energy storage project activity.

Understand both the established and emerging technology trends that are influencing the energy storage market.

Understand how and where the market is growing as it is rapidly scales to become a key technology for the global energy transition.

Learn about the key companies that are developing energy storage technologies across electromechanical, electrochemical, and thermal energy storage.

Energy Vault Pty. Ltd.
RhEnergise Ltd.
Xingyang Construction Investment Group
Form Energy
Inc.
Alsym Energy Inc.
LAVO Inc.
Rondo Energy
Inc.
Energy Dome S.p.A
Engie SA
Hyme Energy

Table of Contents

Executive Summary

The Global Power Mix

Power demand outlook and the impact of AI

The increasing share of variable renewable energy

The Energy Storage Outlook

The rise of battery energy storage systems (BESS)

APAC as the engine room of energy storage capacity additions

Leading countries for energy storage capacity up to 2030

Emerging Energy Storage Technologies

Key challenges to scaling energy storage capacity

GlobalData’s emerging energy storage framework

Electromechanical Storage

Hydro-pumped storage

Emerging trends in electromechanical storage

Electrochemical Storage

Electrochemical storage key geographies and technologies

Battery innovation

Emerging trends in electrochemical storage

Thermal Energy Storage

Key trends in thermal energy storage

Emerging trends in thermal energy storage

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Figures

Global power demand by region, 2015 – 2035

Power demand by sector, 2025 – 2030

Global power generation mix, 2022 – 2035

Global energy storage capacity by storage type

Energy storage capacity based on project announcements vs target capacity

Regional breakdown of cumulative energy storage capacity, 2015 – 2030

Cumulative energy storage capacity of leading countries, 2015 – 2030

Core challenges for the global energy storage market

The emerging energy storage framework

Pumped hydro storage capacity, 2024 – 2035

Annual temperature anomalies, 1940 – 2025

Regional share of electrochemical storage capacity

Technology breakdown of upcoming electrochemical energy storage projects

Battery patent activity in the energy storage sector, April 2022 – January 2025

Breakdown of hydrogen energy storage projects by status

Hydrogen energy storage project count based on announcements, 2015 – 2030

Breakdown of active and upcoming thermal energy storage projects by stage

Upcoming thermal energy storage projects by technology

Emerging Energy Storage Technologies: Trends, Leading Players and Key Challenges standard reports
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