Press release
Natural Gas Storage Market Expected to Experience Positive Growth till 2031 | CNPC, Enbridge Inc., ENGIE Group.
Natural Gas Storage Market
Will the Natural Gas Storage market emerge as the sector's next great thing? To discover the answer, look at the Natural Gas Storage market analysis and projections. In-depth insight of the opportunities, difficulties, and trends now impacting the industrial landscape is provided by this market research study, empowering industry participants to make informed decisions in a changing environment. Take advantage of the opportunity in the Natural Gas Storage market! (2031)
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Global Natural Gas Storage Market reached US$ 308.87 billion in 2023 and is expected to reach US$ 401.25 billion by 2031, growing with a CAGR of 3.4% during the forecast period 2024-2031.
The Natural Gas storage market involves the process of storing natural gas for later use, ensuring a stable supply during periods of high demand or when production is low. It includes underground storage facilities like depleted oil and gas fields, aquifers, and salt caverns. This market is crucial for energy security, price stabilization, and meeting seasonal demand fluctuations.
Key Players:
Profiles of some of the major players in the global Natural Gas Storage market, which include CNPC, Enbridge Inc., ENGIE Group, Gassco, Kinder Morgan, MAN Naftogaz Group, Shell, Snam SPA, TransCanada and PipeLines Limited.
Industry Development:
In March 2024, Enbridge entered into a definitive agreement with WhiteWater/I Squared Capital and MPLX LP to form a joint venture focused on developing and operating natural gas pipeline and storage assets connecting Permian Basin supply to LNG and US Gulf Coast demand. The joint venture will be owned by WhiteWater/I Squared (50.6%), MPLX (30.4%), and Enbridge (19%). It includes a 50% stake in Waha Gas Storage, a ~2.0 Bcf gas storage facility with enhanced injection and withdrawal capabilities.
In September 2023, ENGIE strengthened its position in the biomethane market by acquiring Ixora Energy Ltd, a leading UK biomethane producer with three new production units, collectively generating 160 GWh per year. This acquisition supports ENGIE's commitment to commercialize 30 TWh of biomethane and 30 TWh of renewable hydrogen annually by 2030. The company also aims for a 100% renewable gas mix by 2050, with an interim target of producing 10 TWh of biomethane in Europe and establishing a 4 GW hydrogen production capacity via electrolysis by 2030.
The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Natural Gas Storage market.
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Market Segments:
The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviors.
By Storage Type: UnderGround Storage, Above Ground Storage.
By Storage Capacity: Small-Scale Storage (Up to 10 Bcf), Medium-Scale Storage (10 to 30 Bcf), Large-Scale Storage (More than 30 Bcf).
By End-User: Residential, Commercial, Industrial.
Regional Break out:
The global Natural Gas Storage Market report focuses on six major regions: North America, South America, Europe, Asia Pacific, the Middle East, and Africa.
☞ North America - US, Canada, Mexico
☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe
☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific
☞ South America- Brazil, Argentina, Colombia, Rest of South America
☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel
Points Covered:
⏩ Market Overview: It contains five chapters, as well as information about the research scope, major manufacturers covered, market segments, Natural Gas Storage market segments, study objectives, and years considered.
⏩ Market Landscape: The competition in the Global Natural Gas Storage Market is evaluated here in terms of value, turnover, revenues, and market share by organization, as well as market rate, competitive landscape, and recent developments, transaction, growth, sale, and market shares of top companies.
⏩ Companies Profiles: The global Natural Gas Storage market's leading players are studied based on sales, main products, gross profit margin, revenue, price, and growth production.
⏩ Market Outlook by Region: The report goes through gross margin, sales, income, supply, market share, CAGR, and market size by region in this segment. North America, Europe, Asia Pacific, Middle East & Africa, and South America are among the regions and countries studied in depth in this study.
⏩ Market Segments: It contains the deep research study which interprets how different end-user/application/type segments contribute to the Natural Gas Storage Market.
⏩ Market Forecast: Production Side: In this part of the report, the authors have focused on production and production value forecast, key producers forecast, and production and production value forecast by type.
⏩ Research Findings: This section of the report showcases the findings and analysis of the report.
⏩ Conclusion: This portion of the report is the last section of the report where the conclusion of the research study is provided.
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FAQ's
Q.1. What are the primary drivers of the Natural Gas Storage Industry?
Q.2. What are the main factors propelling and impeding the growth of the Natural Gas Storage market?
Q.3. What are the general structure, risks, and opportunities of the market?
Q.4. How do the prices, revenue, and sales of the leading Natural Gas Storage market firms compare?
Q.5. What are the main segments of the market and how is it divided up?
Contact Us -
Company Name: DataM Intelligence
Contact Person: Sai Kiran
Email: Sai.k@datamintelligence.com
Phone: +1 877 441 4866
Website: https://www.datamintelligence.com
About Us -
DataM Intelligence is a Market Research and Consulting firm that provides end-to-end business solutions to organizations from Research to Consulting. We, at DataM Intelligence, leverage our top trademark trends, insights and developments to emancipate swift and astute solutions to clients like you. We encompass a multitude of syndicate reports and customized reports with a robust methodology.
Our research database features countless statistics and in-depth analyses across a wide range of 6300+ reports in 40+ domains creating business solutions for more than 200+ companies across 50+ countries; catering to the key business research needs that influence the growth trajectory of our vast clientele.
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