Natural Gas Storage Market Trends, Growth, and Insights | Global Forecast 2025 | Top key players - CNPC, Enbridge Inc., ENGIE Group.

The latest report published by DataM Intelligence highlights the growth prospects of Natural Gas Storage market. The industry expansion is majorly driven by developments in technology across the globe.

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The 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 future use, ensuring a stable supply during high demand periods. It plays a crucial role in maintaining energy security and balancing supply and demand. Storage methods include underground reservoirs, depleted gas fields, and salt caverns, supporting industries, utilities, and residential consumers with reliable access to energy.

Competitive Evaluation:

Companies covered in this report are CNPC, Enbridge Inc., ENGIE Group, Gassco, Kinder Morgan, MAN Naftogaz Group, Shell, Snam SPA, TransCanada and PipeLines Limited.

The Natural Gas Storage Market analysis identifies a number of major market players. It enables companies to understand the strategies and partnerships used by other industry players to combat market competition. The comprehensive market report provides a fascinating microscopic look at the market. Corporations can detect the footprints of manufacturers by learning about demand, the global price of manufacturers, and the global benefit of manufacturing companies.

Key Development

In March 2024, Enbridge entered into a definitive agreement with WhiteWater/I Squared Capital and MPLX LP to form a joint venture aimed at developing and operating natural gas pipeline and storage assets. These assets will connect Permian Basin supply to LNG and US Gulf Coast demand. The joint venture will be jointly owned, with WhiteWater/I Squared holding 50.6%, MPLX holding 30.4%, and Enbridge owning 19%. The project includes a 50% stake in Waha Gas Storage, a facility with a storage capacity of approximately 2.0 Bcf, offering enhanced injection and withdrawal capabilities.

In September 2023, ENGIE expanded its presence in the biomethane market by acquiring Ixora Energy Ltd, a leading UK biomethane producer. The acquisition includes three new production units with a combined capacity of 160 GWh per year. This move strengthens ENGIE's position as it works toward its goal of commercializing 30 TWh of biomethane and 30 TWh of renewable hydrogen annually by 2030. The company is committed to achieving a 100% renewable gas mix by 2050, with intermediate milestones to produce 10 TWh of biomethane in Europe and establish a 4 GW hydrogen production capacity via electrolysis by 2030.

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Natural Gas Storage 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 Assessment:

Regional analysis includes segmentation based on the geography that accentuates the recent and future demand for Natural Gas Storage market across North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The study also focuses on the demand for each application segment over all the prominent regions.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

In terms of geographical analysis, Natural Gas Storage Market report provides an in-depth view of:-

∎ Regional level break-up
∎ Leading growth rates
∎ Countries with the largest market share
∎ Market factors
∎ Latest developments
∎ Industry challenges
∎ Regulatory policies
∎ Player strategies

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This report provides a 360-degree synopsis of the competitive scenario of the Natural Gas Storage industry. It has enormous awareness joined to the ongoing item and technical improvements in the business sector. It has a thorough analysis of the impact of the potential future development of these headways, a wide-ranging review of those extensions available for future growth.

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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