Press release
Natural Gas Storage Market To 2024, Growth Rate, Trends, Size, Share Analysis by Key Players - Foster Wheeler, Spectra Energy, GDF SUEZ, Samsung Heavy Industries, Centrica, Technip, Worley Parsons, E-on Group
Natural Gas Storage Market
Natural gas storage refers to various storage systems in which natural gas can be stored for longer period of time. Natural gas is one of the best fuels used in modern world and so its storage is an important aspect for its proper usage. Various underground and aboveground systems are used to store natural gas. Gas reservoirs, pipelines and other aboveground reserves are imperatively used to store natural gas. Natural gas is an eco-friendly gas which act as a fuel in natural gas driven engines, turbines and automobiles. It is also used in fertilizers and an alternative fuel for coal. These benefits of natural gas facilitate its storage and demand in near future.
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Natural gas storage systems play a significant role when demand for natural gas is high or during price hike of other fuels. Global natural gas storage market is analyzed and segmented based on its type into depleted reservoirs, underground storage, salt caverns, aquifers and aboveground storage. Among these underground storage systems dominate this market as it is highly used. Other temporary storage sources like pipelines play an important role in supply and temporary storage of natural gas.
Increased demand for natural gas driven automobiles for transport and domestic transport vehicles is a significant factor to augment the growth of this market. Use of CNG auto rickshaws and CNG kit in cars as a fuel highly propels the growth of this market for the forecast. Increased demand for energy production using natural gas further fuels the growth of global natural gas storage market. Research and development for the use of liquefied natural gas LNG in aircrafts will open new opportunities for the rapid growth of this market. Research and development for newer and economical storage facilities for natural gas is further expected to boost the growth of this market over the forecast period. High initial cost required for building storage systems is expected to hamper the growth of this market to some extent.
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North America is geographically the leading region of this market. Use of natural gas as fuel, energy source and eco-friendly fuel in U.S makes North America the undisputed leader of this market. Asia Pacific will show high growth rate over the forecast. Presence of major economies like India and China and high demand for natural gas and its storage in these regions together surge the growth of Asia Pacific. Europe is expected to be the fastest growing region. Oil and natural gas exploration supported by natural gas driven engines will fuel the growth of this market in Europe. MEA and Latin America are emerging economies expected to show steady growth over the forecast period. Key participants in global natural gas storage market are Foster Wheeler, Spectra Energy, GDF SUEZ, Samsung Heavy Industries, Centrica, Technip, Worley Parsons, E-on Group, Chiyoda Corporation and Niska Gas Storage.
Major Table of Contents:
1.Introduction
2.Executive Summary
3.Market Analysis Of Natural Gas Storage
4.Natural Gas Storage Market Analysis By Types
5.Natural Gas Storage Market Analysis By Geography
6.Competitive Landscape Of Natural Gas Storage Companies
7.Company Profiles Of Natural Gas Storage Industry
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