Global Natural Gas Storage Market

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Global Natural Gas Storage Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of 3.50 % during a forecast period.

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Natural gas storage plays an important role in managing the consistency of supply requirement to meet the demands of consumers.

Many countries across the globe are progressively shifting their focus from using conventional fuel to clean sources for reducing the emission of hazardous gases. Governments across the developing counties are also focusing on decarbonizing numerous sectors for regulating the greenhouse gas emission effect that is expected to drive the global natural gas storage market growth. Additionally, an increase in the usage of natural gas in end-use industries like electricity generation, transportation, and industrial operations across the globe are expected to boost the market growth during the forecast period.

However, the high cost for the transportation of the gas from a distant storage point to the consumption centered is expected to limit the ...
... market growth. Furthermore, technical challenges concerning with storage systems of the gas is one of the challenges in the growth of the global natural gas storage market.

The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Global Natural Gas Storage Market Segmentation Analysis:

By Type, Global Natural Gas Storage Market is segmented into Underground storage, Above-ground storage, Floating. Among all of these underground storage is expected to share US$ XX Mn in the global natural gas storage market because it offers low operational and infrastructure costs. Underground storage of natural gas is an integral component of the energy storage system, which is expected to enables services to offer clean natural gas to consumers. The underground storage segment is subdivided into the depleted reservoirs, aquifers and salt caverns. Among these, depleted reservoirs are most commonly used underground storage sites because of their extensive availability.

Technical advancements like solidified natural gas (SNG) and LUMEN technology in natural gas storage systems are one of the key trends in the global natural gas storage market. SNG gas can store large volumes of natural gas in compressed crystals of gas hydrates, which are eco-friendly and safe. Additionally, LUMEN technology delivers real-time data from sensors, which benefits in meeting the safety and regulatory requirements. An increase in the adoption of technologically advanced natural gas storage systems is driving the growth in the global natural gas storage market.
Global Natural Gas Storage Market Regional Analysis:

By geography, the Asia Pacific region is leading the global natural gas storage market over forecast period attributed to the rise in demand from end-use industries from developing economies like China and India. Low cost and availability of coal reserves are expected to increase the natural gas usage in end-use industries like petrochemicals and steel in the region.

On the other hand, North America is expected to emerge as the fastest growing regional market in both underground and aboveground storage facilities owing to increasing exploration and production activities. Increasing awareness regarding natural gas being a clean fuel is further anticipated to drive growth in the region.

The objective of the report is to present a comprehensive analysis of Global Natural Gas Storage Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Natural Gas Storage Market dynamics, structure by analyzing the market segments and project the Global Natural Gas Storage Market size. Clear representation of competitive analysis of key players by Type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Natural Gas Storage Market make the report investor’s guide.

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Global Natural Gas Storage Market, By Type

• Underground storage
o Depleted Reservoirs
o Aquifers
o Salt Caverns
• Above-ground storage
Global Natural Gas Storage Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global Natural Gas Storage Market

• Costain Group PLC
• E-On
• Spectra Energy
• Chiyoda Corporation
• Niska Gas Storage
• ENBRIDGE INC.
• GDF Suez
• Centrica
• Technip
• Foster Wheeler
• Samsung Heavy Industries
• ENGIE
• Royal Vopak
• Worley Parsons
• Uniper SE
• McDermott International, Inc.
• NAFTA A.S.
• TransCanada Corp.
• Chart Industries
• Enbridge, Inc.
• Gazprom

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