Natural Gas Storage Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Category : Energy and Power | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC432

Introduction

The rising demand for natural gas along with energy security concerns is expected to drive the growth of natural gas storage market over the next few years. The increasing utilization of natural gas in end-use industries such as transportation, electricity generation, and industrial operations is expected to propel the demand over the future years. Therefore, the storage facilities are necessarily required for managing natural gas supply in order to cater to the rising energy demand. Moreover, owing to the growing industrialization and urbanization in developing economies such as Latin America and Asia-Pacific, the global natural gas storage market growth is estimated to be fuelled significantly over the future years.

Market Classification

The high demand for natural gas is expected to fuel the oil & gas exploration activities that will further lead to an increased demand for storage facilities. The entire market is sub-divided in two categories, underground storage facilities and above ground storage. Further, the underground storage facilities are segmented into salt caverns formation, depleted reservoirs, and aquifers.

Market Dynamics

The favorable governmental policies pertaining to low carbon content as compared to coal are expected to propel the market growth over the future years. At times of low production and supply in the market, these storage facilities are used as speculative tool. Gas storage is also used to deal with price uncertainty as they maintain commodity liquidity at trading centers. High demand from transportation industry owing to attributes such as extensive distribution infrastructure, low cost, and low emission rate is expected to fuel the demand over the next few years. The rapid industrial growth in various countries such as India, Brazil, China, Russia, and UAE is expected to further augment the market growth.

For reasons such as unforeseen accidents, natural disasters, and distribution or production malfunctions, the gas storage facilities are necessary. High demand for fuel gas-fired electric generators owing to commercial, industrial, and residential cooling is expected to further augment the market growth. However, high installation cost along with transmission capacity restraints are expected to damage the market growth and challenge industry players over the future period. The infinite natural gas supply together with improved recovery technologies is expected to provide profitable opportunities to storage operators.

Regional Overview

North America is estimated to hold huge market share in both aboveground and underground storage facilities owing to increasing production and exploration activities. Rising awareness pertaining to natural gas being clean fuel is further expected to drive the growth in this region. However, during the future years, Asia-Pacific is expected to display rapid growth due to high domestic demand from end-use industries in countries such as India and China. The availability of low cost labor along with decreasing coal reserves is expected to propel the usage of natural gas in end-use industries such as steel and petrochemicals in emerging countries. The growth of industrial sector along with high per capita income in regions such as Thailand and Vietnam is expected to fuel the demand in this region.

Report Coverage

Market

Global Natural Gas Storage Market

Analysis Period

2015 – 2026

Historic Data

2015 – 2016

Base Year

2017

Forecast Data

2018 – 2026

Market Stratification

Storage Type, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,

Player Profiling, Value Chain Analysis

 

Market Participants

The key players operating in this market are Foster Wheeler, Samsung Heavy Industries, GDF SUEZ, and Spectra Energy. The other major players include Technip, Worley Parsons, Centrica, Chiyoda Corporation, E-on Group, and Niska Gas Storage. The high demand for natural gas is expected to fuel the oil & gas exploration activities that will further lead to an increased demand for storage facilities.

Market Segmentation

Market By Storage Type

·         Underground natural gas storage

o   Salt caverns formation

o   Depleted reservoirs

o   Aquifers

·         Above ground natural gas storage

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o    Brazil

o   Chile

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


Related Reports

Solid State Transformer Market (By Product: Distribution SST, Traction SST, Power SST; By Component: Converters, Switches, High-frequency Transformers, Others; By Application: Alternative Power Generation, Traction Locomotives, Power Distribution, Electric Vehicle Charging, Others (UPQC, etc.)) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

Introduction: Solid state transformer (SST), on the other hand, known as "smart transformer," is an amalgamation of powerful semiconductor segments, control hardware, and customary high-recurrence transformers. The savvy transformers are utilized to give extra adaptability to control power conveyance systems, along these lines encouraging the smooth change of AC to DC and DC to AC,

Hydro Turbine Market (By Type: Reaction Turbine [Kaplan Turbine, Bulb Turbine, Francis Turbine], Impulse Turbine [Cross Flow Turbine, Pelton Turbine]; By Installation Type: Large Hydro Plants (more than 500 kw), Mini Hydro Plants (100 kw – 500 kw), Micro Hydro Plants (5 kw – 100 kw), Pico Hydro Plants (0 kw – 5 kw); By Head Type: High Head (300 m to 1500 m), Medium Head (30 m to 300 m), Low Head (Less than 30 m)) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026

Introduction Hydro turbine is the electro-mechanical device used to generate electricity in hydropower generation projects. Hydro turbines transfer power to a rotating electricity generation shaft from moving water. The turbines rotate or turn as a reaction to the water in their blades. In the area of hydro power (the water power generation process), hydro turbines are essential. T

Energy Storage Systems Market (By Technology: PHS, Electrochemical, Electromechanical, Thermal) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The worldwide energy storage systems market’s size is anticipated reach 211,823 MW by 2026 and the market is expected to display a CAGR of 2.2% during the estimated years. The market is driven by surge in the demand for the smart home across the world. Market Dynamics

Unconventional Gas Market (By Type: Shale Gas, Tight Gas, Coalbed Methane (CBM); By Application: Industrial, Power Generation, Residential, Commercial, Transportation) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026

Introduction The global unconventional gas market’s value is expected to touch USD 258 billion by 2026 and the market is likely to grow with a CAGR of 9.2 % during the forthcoming years. Market Dynamics The government of the U.S. has been advancing demands in investigat

Cart Summary