The global energy storage market is poised for continued expansion in 2026, even as supply chain constraints, regulatory evolution, and emerging applications reshape the landscape, according to Wood Mackenzie. 

Saudi Arabia and the UAE have emerged as two of the world’s most prominent energy storage markets, with mega-scale projects announced and moved forward at a staggering pace over the last two years. But what does the next phase look like?

While coal and gas power plants grapple with cost increases, Australia's battery storage sector delivers a different story, with costs plummeting across all durations.