Transparency Market Research has released a new
market research report titled Natural Gas Storage Market - Global
Industry Analysis, Size, Share, Growth Trends and Forecast, 2015 -
2023. According to the report, the global natural gas storage market
stood at 392,831.22 mcm in 2014 and is likely to reach 548,798.39 mcm
by 2023, expanding at a CAGR of 3.7% between 2015 and 2023.
The global natural gas
storage market was dominated by Europe in 2014. Demand for natural
gas storage facilities is anticipated to be high in the region due to
increasing concerns of energy security (uninterrupted supply of
natural gas at affordable rates). A natural gas storage facility is
vital as it balances the seasonal peak load demands and provides
sustained supply of natural gas. Countries such as Germany, Italy,
and France are increasing their natural gas storage capacity to
reduce dependence on natural gas imports and to improve local natural
gas inventory for applications such as district energy and combined
heat and power (CHP) generation.
This 95 page report gives readers a
comprehensive overview of the Natural Gas market. Browse Market
Research Report @
Factors such as increasing natural gas demand,
growing energy security concerns, and favorable government
regulations and incentives are anticipated to boost the natural gas
storage market in Europe in the near future. However, higher capital
costs and installation costs have hampered the growth of the natural
gas storage market in the region. Russia is the market leader in
terms of natural gas storage capacity in Europe.
North America was the second-largest market
globally in terms of storage volume of natural gas in 2014.
Underground storage facilities accounted for the major share of the
market in North America in 2014. The U.S. was the leading player in
terms of natural gas storage capacity in North America. Increasing
production of natural gas, owing to shale gas and hydraulic
fracturing technologies, has boosted the construction of natural gas
storage facilities in North America.
Natural gas storage capacity in Asia Pacific is
increasing due to rising awareness about benefits of natural gas
storage and energy security. China is expected to be the leading
player in the natural gas storage market in Asia Pacific in the near
future. Growth in natural gas storage capacity in Asia Pacific is
primarily driven by increasing demand for natural gas and rising
concerns of energy security. Asia Pacific is expected to be the
fastest growing market for natural gas storage during the forecast
period. Rest of the World (RoW) accounted for the least share of the
global natural gas storage market in 2014.
Get accurate market forecast and analysis on
the Natural Gas market. Request a sample to stay abreast on the key
trends impacting this market@
Key participants in
the global 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,
financial revenues (on availability), business strategies, and recent
developments of these companies. The global 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
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