Natural Gas Storage Market Values and Growth Forecast

Natural Gas Storage Market was valued at USD 9.85 Billion in 2022, and it is expected to reach USD 13.21 Billion by 2029, exhibiting a CAGR of 4.28% during the forecast period (2023-2029).

Natural Gas Storage Market Report Scope and Research Methodology

Report Scope: Maximize Market Research Pvt Ltd presents a comprehensive market research report on the Natural Gas Storage Market. The report covers various aspects, including market dynamics, drivers, restraints, opportunities, and challenges. It also provides insights into market trends, segments, and regional perspectives.

Research Methodology: This report utilizes a robust research methodology to analyze the Natural Gas Storage Market. It combines primary and secondary research sources, including press releases, company annual reports, government websites, and research papers, to gather qualitative and quantitative data. Additionally, paid databases like Reuters, Bloomberg, and Hoovers were used to extract valuable insights. The report employs a bottom-up market sizing approach, considering macro and micro views, to calculate accurate market size.

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What are Natural Gas Storage Market Dynamics?

Market Drivers:

Favorable Government Policies: Governments worldwide are offering tax incentives and funding for Compressed Natural Gas (CNG) vehicles and infrastructure, driving demand for natural gas storage.
Rising Emphasis on Alternative Fuels: Compressed Natural Gas (CNG) usage is increasing as automakers develop vehicles that can run on both gasoline and CNG, reducing emissions and operating costs.
Market Restraint: The high infrastructure costs and maintenance required for natural gas storage pose a challenge to market growth.

Natural Gas Storage Market Segmentation:

According to storage type, the subterranean segment had the greatest market share in 2022 and is anticipated to see the fastest CAGR growth during the period of 2023-2029. The remaining components of subsurface storage are made up of aquifers, depleted reservoirs, and salt caverns. Aquifers are porous and permeable rock formations that serve as underground natural water reservoirs, whereas salt caverns are created by salt deposits of two sorts, salt beds and salt domes. Formations are referred to be depleted reservoirs if they are still there after all of the site's recoverable natural gas has been taken. Research in the past revealed that subterranean storage had a bigger market share when compared to above-ground storage.

by Storage Type

Underground
Floating
Others

by Application

Residential
Commercial
Others

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Who are Natural Gas Storage Market Key Players?

1. Worley Parsons
2. Technip
3. Samsung Heavy Industries
4. Foster Wheeler
5. GDF Suez
6. Centrica
7. Chiyoda Corporation
8. E-On
9. Spectra Energy
10.Gazprom
11.NAFTA A. S.
12.Enbridge Gas Distribution Inc.
13.Engie S. A.
14.Spectra Energy Corporation
15.Niska Gas Storage Partners, LLC.
16.TransCanada Corporation
17.Cardinal Gas Storage Partners LLC.

Table of Content: Natural Gas Storage Market

Part 01: Executive Summary

Part 02: Scope of the Natural Gas Storage Market Report

Part 03: Global Natural Gas Storage Market Landscape

Part 04: Global Natural Gas Storage Market Sizing

Part 05: Global Natural Gas Storage Market Segmentation by Type

Part 06: Five Forces Analysis

Part 07: Customer Landscape

Part 08: Geographic Landscape

Part 09: Decision Framework

Part 10: Drivers and Challenges

Part 11: Market Trends

Part 12: Vendor Landscape

Part 13: Vendor Analysis

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Regional Insights:

Asia Pacific (APAC): APAC held the largest market share in 2022, driven by favorable climatic conditions, economic viability, and large rural settlements in countries like India, China, and Indonesia.
Europe: Europe's strategic location for gas traffic between west and east, robust pipeline network, and growing demand due to cleaner fuel regulations make it a key market for natural gas storage.

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2021)
Past Pricing and price curve by region (2018 to 2021)
Market Size, Share, Size & Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations

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