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

Wind Turbine Operations & Maintenance Market - (By Application- Offshore, Onshore)- Global Industry Size, Share, Trends, and Forecast, 2018-2026

Introduction Wind turbine operations and maintenance is the services of maintaining the smooth working of the wind turbines. It is one of the most prominent segment and business having a huge opportunity in the near future. During last few years, increase in attention toward renewable and nonconventional source of energy has led to increased in the demand for the various mainten

Molten Carbonate Fuel Cell (MCFC) Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction Molten carbonate fuel cells (MCFCs) uses biogas and natural gas as fuel and can be operated at high temperature. MCFC permits non-precious materials for using as catalyst on both cathode and anode leading to reduction in cost. Molten carbonate fuel cells are 50% to 60% effective at transforming fuel to electricity and it can be improved by seizing the leftover heat.

Superconducting Magnetic Energy Storage (SMES) Systems Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction Superconducting Magnetic Energy Storage (SMES) systems stock energy in magnetic field generated by the stream of direct current in superconducting coil that has cryogenically cooled to particular temperature beneath its superconducting critical temperature. A typical SMES system includes three parts such as cryogenically cooled refrigerator, power conditioning syste

Renewable Energy Investment Market Analysis- Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction Renewable energy is produced from natural resources that comprise tidal power, geothermal, biomass, wind, wave and solar. Corporate enterprises and national governments are making hefty funding to enhance and develop fresh renewable energy sources. These resources produce great amounts of energy and evade greenhouse gases that subsidize to climate change.

Marine Power Systems Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction Marine power describes the energy producing process through oceans and it can also be termed as hydroelectricity. Through oceans huge amount of energy can be obtained as it is an accessible recourse to produce energy. Tidal power and wave power are different sources that encompass marine power. Various forms such as waves, salinity gradients, fluid flow, and thermal

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

Introduction Liquefied Natural Gas (LNG) is natural gas which has been converted into liquid form from gaseous state. LNG takes up 600 times fewer spaces than natural gas present in gaseous state, and it is much easier to transport or store. Increasing focus on improvement and expanding gas pipeline infrastructure and escalating mandate for natural gas from oil and gas industry

Cart Summary

Special Pricing & Discounts