Global Natural Gas Storage Market: Snapshot 

The global market for natural gas storage is expected to flourish at a significant pace, driven by the growing concerns pertaining to the depleting non-renewable energy sources. Occurring deep beneath the surface of the earth, natural gas consists chiefly of methane, and small amounts of non-hydrocarbon gases and hydrocarbon gas liquids. Although natural gas is primarily used as a fuel, it is also widely used in the production of chemicals and materials. 

The storage of natural gas is crucial in the maintenance of the reliability of supply, necessary for meeting the needs of the consumers. With natural gas storage facilities playing a vital role in handling seasonal shifts in demand, unexpected upsurges in demand, and storing natural gas for commercial purposes, the demand for natural gas storage facilities is likely to soar. The storage facilities are useful when prices of natural gas are low and also when vendors need to withdraw and sell it when prices rise. Apart from underground storage, natural gas can also be stored in the form of liquefied natural gas (LNG). Storing natural gas as LNG enables easy shipping and storage of natural gas in the liquid form, thereby occupying much lesser space than the gaseous one. 

Asia Pacific Opens up New Windows for Further Growth 

The global market for natural gas storage can be segmented by geography and type of storage. By geography, the global natural gas storage market has been segmented into Europe, North America, Asia Pacific, and the Rest of the World (RoW). The report conducts an in-depth analysis of the leading regional segments such as Germany, China, Argentina, the U.S., Italy, Iran, Russia, France, Ukraine, and Australia. European nations have been exhibiting higher demand for natural gas storage facilities over the last few years. As a result, Europe accounted for the largest share of 50% of the overall market for natural gas storage in 2014. North America emerged as the second-leading segment, with Asia Pacific at its heels. 

In terms of future growth, Asia Pacific is the ripest terrain brimming with potential. With augmenting demand for natural gas storage facilities in China, several new natural gas storage facilities are being constructed across the country. Malaysia, Japan, South Korea, Australia, and India have been following suit. The expanding volume of investments in natural gas storage, government encouragement via advantageous incentives, and availability of raw materials in the region are propelling the market for natural gas storage in this region. 

By Type, Underground Storage Segment Claims Largest Share 

By type of storage, the global natural gas storage market has been segmented into underground storage and above-ground storage. The underground storage segment is further segmented into salt caverns, depleted reservoirs, and aquifers. While aquifers are permeable and porous rock formations which serve as natural water reservoirs beneath the ground, salt caverns form out of salt deposits in two forms, salt beds and salt domes. Depleted reservoirs refer to those formations that remain after all recoverable natural gas has been tapped from the site. According to the past findings, the underground storage segment accounted for the greater share of the market when compared with above-ground storage. It held a whopping 95% of the global natural gas storage market in 2014. 

Under the underground storage segment, depleted reservoirs accounted for the largest amount of shares, being the most constructed natural gas storage facility. This sub- segment held nearly 75% of the underground storage segment in 2014. Increasing investments in the exploration of new oil and gas fields and swelling demand for natural gas storage facilities have been responsible for the growth of the underground natural gas storage segment.

Growing Seasonal Demand across Industry Verticals Boosts Natural Gas Storage Market

Products in global natural gas storage market are usually used to store natural gas to meet the need for fulfilling the seasonal demand. They are used to store natural gas in periods of low demand and withdrawn usually during the period of high or peak demand. Products in global natural gas storage market can be used by individual professionals or organizations for commercial or operations requirements. Different types of storage units in global natural gas storage market have diverse range of unique properties. Physical characteristics of these units change according to the application and feature qualities such as porosity, low maintenance cost, permeability, and easy access. Rising demand for the natural gas as a great alternative for conventional fossil fuels and growing seasonal demand from diverse set of end-use industries for a variety of different applications in numerous industrial sectors are anticipated to drive the global natural gas storage market in coming years. Technological advancements by players in global natural gas storage market to facilitate easy storage and greater conservation of stored natural gas along with rising awareness amongst population regarding the advantages of using renewable energy sources that includes natural gas are also expected to foster the industry in near future.

Increasing exploration initiatives to discover new oil and gas fields is also another factors bolstering the growth of growing global natural gas storage market in coming years. Some of the most prominent players in global natural gas storage market are Gazprom, Chiyoda Corporation, NAFTA A. S., Enbridge Gas Distribution Inc., Engie S. A., Spectra Energy Corporation, Niska Gas Storage Partners, LLC., Centrica Storage Ltd., TransCanada Corporation, and Cardinal Gas Storage Partners LLC. Players in global natural gas storage market are engaged in mergers and acquisitions, partnerships, and research and development activities to expand their consumer base and target a larger geographical market space. Many manufacturers and players in global natural gas storage market are also increasingly investing for the aim of expanding their production capacity, capabilities of the production facilities, and production volume to enhance their product offerings and reduce the time required for production lifecycle.

The natural gas storage market report by Transparency Market Research provides in-depth analysis of the natural gas storage market globally. The report segments the market on the basis of storage type and geography. The report analyzes the global natural gas storage market in terms of natural gas storage volume for the 2015–2023 period. For this research study, the base year is 2014, whereas the forecast is from 2015 to 2023. The report provides a comprehensive competitive landscape and features companies engaged in the construction and operation of natural gas storage facilities. This report includes the key dynamics affecting the natural gas storage market globally. The analysis in the report provides detailed insights of the global natural gas storage market. Market dynamics such as drivers, opportunities, and restraints of the market were analyzed in detail and are illustrated in the report through tables. The report also provides a detailed industry analysis of global natural gas storage with the help of Porter’s Five Forces model.

The natural gas storage market has been segmented on the basis of type and geography. The natural gas storage market has been segmented by type into above-ground storage and underground storage. Underground storage has been further segmented into three sub-segments: depleted reservoirs, salt caverns, and aquifers. The natural gas storage market has been segmented geographically into four regional segments and further into 10 unique country sub-segments. The regional segments are Europe, Asia Pacific, North America, and Rest of the World. The 10 countries which have been separately addressed in this report are the U.S., Russia, Ukraine, Germany, Italy, France, China, Australia, Iran, and Argentina.

Europe held the major share of the global natural gas storage market in 2014, accounting for more than 50% of the global market share in terms of storage volume. North America was the second-largest market for natural gas storage, followed by Asia Pacific, in 2014. Rest of the World (RoW) held the fourth-largest share of the global natural gas storage market in that year.

Underground storage facilities accounted for more than 95% share of the global natural gas storage market. Depleted reservoirs were the largest number of underground storage facilities constructed across the globe, accounting for more than 75% of total underground storage type facilities in 2014.

Some of the key market participants in the natural gas storage market include Spectra Energy Corporation, Gazprom, Niska Gas Storage Partners LLC, Chiyoda Corporation, Centrica Storage Ltd., NAFTA A.S., TransCanada Corporation, Enbridge Gas Distribution Inc., Cardinal Gas Storage Partners LLC, and Engie S.A. The report provides an overview of these companies, followed by their financial details (if available), business strategies, and recent developments. The natural gas storage market has been segmented as follows:

Global Natural Gas Storage Market: By Type

  • Above-ground Storage
  • Underground Storage
    • Depleted Reservoirs
    • Salt Caverns
    • Aquifers

Global Natural Gas Storage Market: By Region

  • North America
    • The U.S.
    • Rest of North America
  • Europe
    • Russia
    • Ukraine
    • Germany
    • France
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Australia
    • Rest of Asia Pacific
  • Rest of World (RoW)
    • Iran
    • Argentina
    • Other Countries

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.


Section 1 Preface

  • Report Description
  • Market Segmentation
  • Research Scope
  • Research Methodology

Section 2 Executive Summary

  • Global Natural Gas Storage Market Estimates and Forecasts (mcm)
  • Overview

Section 3 Industry Analysis

  • Introduction
  • Value Chain Analysis of Natural Gas Storage Market
  • Market Dynamics
  • Driver 1 – Increasing demand for natural gas
  • Driver 2 – Growing energy security concerns
  • Driver 3 – Favorable government regulations
  • Restraint 1 – High capital-intensive nature of the market
  • Opportunity 1 – Hydraulic fracking and shale gas boom leading to increased natural gas production
  • Porter’s Five Forces Analysis
  • Market Attractiveness Analysis of Industrial Emission Control Systems Market, 2014

Section 4 Natural Gas Storage: Storage Type Overview

  • Global Natural Gas Storage Market, Estimates and Forecast, By Storage Type, 2014–2023 (mcm)
  • Global Natural Gas Storage Market, Estimates and Forecast, By Above-ground Storage, 2014–2023 (mcm)
  • Global Natural Gas Storage Market, Estimates and Forecast, By Underground Storage, 2014–2023 (mcm)
  • Global Underground Natural Gas Storage Market, Estimates and Forecast, By Depleted Reservoirs, 2014 –2023 (mcm)
  • Global Underground Natural Gas Storage Market, Estimates and Forecast, By Salt Caverns, 2014 –2023 (mcm)
  • Global Underground Natural Gas Storage Market, Estimates and Forecast, By Aquifers, 2014 –2023 (mcm)

Section 5 Natural Gas Storage Market: Regional Overview
Natural Gas Storage Market – North America

  • Natural Gas Storage Market – North America, 2014 to 2023 (mcm)
  • U.S. Natural Gas Storage Market, 2014 to 2023 (mcm)
  • U.S. Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • Rest of North America Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Rest of North America Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)

Natural Gas Storage Market – Europe

  • Natural Gas Storage Market – Europe, 2014 to 2023 (mcm)
  • Russia Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Russia. Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • Ukraine Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Ukraine Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • Germany Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Germany. Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • France Natural Gas Storage Market, 2014 to 2023 (mcm)
  • France. Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • Italy Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Italy. Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • Rest of Europe Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Rest of Europe Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)

Natural Gas Storage Market – Asia Pacific

  • Natural Gas Storage Market – Asia Pacific, 2014 to 2023 (mcm)
  • China Natural Gas Storage Market, 2014 to 2023 (mcm)
  • China Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • Australia Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Australia Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • Rest of Asia Pacific Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Rest of Asia Pacific Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)

Natural Gas Storage Market – Rest of World

  • Natural Gas Storage Market – Rest of World, 2014 to 2023 (mcm)
  • Iran Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Iran Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • Argentina Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Argentina Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)
  • Others of Rest of World Natural Gas Storage Market, 2014 to 2023 (mcm)
  • Others of Rest of World Natural Gas Storage Market, By Type, 2014 to 2023 (mcm)

Section 6 Company Profiles

  • Spectra Energy Corporation
  • Gazprom
  • Niska Gas Storage Partners LLC
  • Chiyoda Corporation
  • Centrica Storage Ltd. 
  • NAFTA A.S.
  • TransCanada Corporation
  • Enbridge Gas Distribution Inc.
  • Cardinal Gas Storage Partners LLC
  • Engie S.A.

List of Tables

Table 1 Global Natural Gas Storage Market: Snapshot
Table 2    U.S. Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 3 Rest of North America Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 4 Russia Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 5 Ukraine Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 6 Germany Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 7 France Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 8 Italy Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 9 Rest of Europe Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 10 China Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 11 Australia Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 12 Rest of Asia Pacific Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 13 Iran Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 14 Argentina Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)
Table 15 Others of Rest of World Natural Gas Storage Market Volume and Forecast, by Type, 2014−2023 (mcm)

 

List of Figures
 

Figure 1 Global Natural Gas Storage Market Estimates and Forecasts, 2014 – 2023 (mcm)
Figure 2 Global Natural Gas Consumption, By Volume, 2006- 2013 (mcm)
Figure 3 Market Attractiveness Analysis of Natural Gas Storage Market, 2014
Figure 4 Global Natural Gas Storage Market Share, By Storage Type, 2014
Figure 5 Global Natural Gas Storage Market Share, By Storage Type, 2023
Figure 6 Global Natural Gas Storage Market Estimates and Forecasts , By Storage Type, 2014–2023 (mcm)
Figure 7 Global Natural Gas Storage Market Estimates and Forecasts, Above-ground Natural Gas Storage, 2014 – 2023 (mcm)
Figure 8 Global Natural Gas Storage Market Estimates and Forecasts, Underground Natural Gas Storage, 2014 – 2023 (mcm)
Figure 9 Global Natural Gas Storage Market Estimates and Forecasts, Depleted Reservoirs Natural Gas Storage, 2014 – 2023 (mcm)
Figure 10 Global Natural Gas Storage Market Estimates and Forecasts, Salt Caverns Natural Gas Storage, 2014 – 2023 (mcm)
Figure 11 Global Natural Gas Storage Market Estimates and Forecasts, Aquifers Natural Gas Storage, 2014 – 2023 (mcm)
Figure 12 North America Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 13 U.S. Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 14 Rest of North America Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 15 Europe Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 16 Russia Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 17 Ukraine Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 18 Germany Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 19 France Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 20 Italy Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 21 Rest of Europe Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 22 Asia Pacific Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 23 China Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 24 Australia Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 25 Rest of Asia Pacific Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 26 Rest of World Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 27 Iran Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 28 Argentina Natural Gas Storage Market Estimates and Forecasts, 2014–2023 (mcm)
Figure 29 Other Countries Natural Gas Storage Market Estimates and F

 

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Natural Gas Storage Market