Every transaction is not stored by every peer in a hyperledger fabric network. The channel feature of hyperledger v1.0.0 provides that a peer only stores and and can see the transactions pertaining to that channel.
Talking about the storage requirements, the ledger is ever growing, but each peer only stores the transactions that are executed in the peers channel. A peer can take part in more than one channel, and it will store transaction from those different channels.
The ordering service of hyperledger fabric stores transaction from same channel. Transacction data is only shared in the context of the channel, so only peers and orderer participate in the channel.