November 5, 2026 | Market Watch
BloombergNEF forecasts global energy storage additions of 188 GW and 535 GWh in 2026, representing approximately 45% year-on-year growth in installed power capacity.
China, the United States and Australia are expected to account for 62% of new additions. The outlook also projects 209 GW and 638 GWh in 2027.
These figures are forecasts, not completed installation totals.
India is expected to add more than 6 GW of storage capacity in 2026. BloombergNEF also anticipates broader deployment across Europe, while emerging markets in Latin America, Sub-Saharan Africa and Southeast Asia could contribute more significantly by 2036.
Battery supply-chain policies remain a constraint: tariffs, localization requirements and equipment restrictions can change which manufacturers qualify for individual projects.
Lithium iron phosphate is expected to remain the dominant storage chemistry, although sodium-ion technology is attracting attention as manufacturers explore alternative materials and production routes.
The storage forecast is a demand signal, not a bill of materials.
A 535 GWh deployment forecast cannot establish how many transformers, power conversion systems or UPS units will be purchased. Equipment requirements depend on each project's grid connection, electrical architecture and operating duty.
For suppliers, the milestones worth tracking are project financing, financial close and EPC procurement, rather than the annual forecast alone. Technical discussions may begin earlier, but purchase commitments depend on individual project arrangements.
Although both use batteries, grid-connected storage and UPS systems serve different functions. Storage designed for energy shifting cannot automatically provide uninterrupted power to critical loads.
The outlook indicates expanding market activity, while actual equipment specifications and purchasing schedules remain project-specific.
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