Global Natural Gas Storage Market 2019-2023

Below are some of the key findings from this natural gas storage market analysis report

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Global natural gas storage industry overview

The growing demand for natural gas is one of the primary factors for the global natural gas storage market growth. The usage of natural gas for power generation, space heating, and transportation results in its high adoption by end-user industries. Moreover, the positive impact of natural gas on air quality and low carbon dioxide emission also increases its need globally. These factors result in the high requirement of natural gas storage systems to ensure undisrupted supply during higher and seasonal demand.

Technological advancements such as solidified natural gas (SNG) and LUMEN technology in natural gas storage systems is one of the key trends that will gain traction in the market. SNG has the potential to store large volumes of natural gas in compact crystals of gas hydrates, which are environment-friendly and safe. Moreover, LUMEN technology provides real-time data from sensors and helps in meeting the safety and regulatory requirements while storing natural gas. These factors result in the high adoption of technologically advanced natural gas storage systems by end-users, positively impacting market growth at a CAGR of close to 3% during the forecast period.

Top natural gas storage companies covered in this report

The global natural gas storage market is moderately fragmented. To help clients improve their revenue share, this research report provides an analysis of the market’s competitive landscape and offers information on the products offered by various companies. Key insights provided by this natural gas storage market analysis report will help companies make informed business decisions.

The report offers a detailed analysis of several leading natural gas storage companies, including:

• Costain Group PLC
• ENBRIDGE INC.
• ENGIE
• Royal Vopak
• Uniper SE

Natural gas storage market segmentation based on type

• Underground storage
• Above-ground storage

Underground storage segment held the largest natural gas storage market share in 2018 because of its low operational and infrastructure cost. The market share of this segment will decrease in the coming years. However, it will continue to dominate the market throughout the next five years.

Natural gas storage market segmentation based on region

• Americas
• APAC
• EMEA

EMEA accounted for the largest natural gas storage market share in 2018. The market share of EMEA will increase because of the rising demand for natural gas and the growing focus on clean energy in the region and EMEA will continue to dominate the market throughout the forecast period.

Key highlights of the global natural gas storage market for the forecast years 2019-2023:

• CAGR of the market during the forecast period 2019-2023
• Detailed information on factors that will accelerate the growth of the natural gas storage market during the next five years
• Precise estimation of the global natural gas storage market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the natural gas storage industry across APAC, Americas, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive details on factors that will challenge the growth of natural gas storage companies  

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