Global Natural Gas Storage Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026

MarketResearch.biz delivers in-depth insights on the global natural gas storage market in its upcoming report titled, “Global Natural Gas Storage Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026”. The global natural gas storage market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the global natural gas storage market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2026. The report offers insightful and detailed information regarding the various key players operating in the global natural gas storage market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global natural gas storage market report has been segmented on the basis of type and region.

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Natural gas is a – colourless-odourless – flammable gas composed of methane and other hydrocarbons. Natural gas is most commonly stored in underground inventories under pressure in various types of facilities. Also, natural gas can be stored in liquid or gaseous form. Natural gas storage plays an important role in keeping the reliability of supply needed to meet the demands of consumers.

Rising demand for natural gas has led to increasing oil & gas exploration and extraction activities, which in turn is boosting demand for gas storage facilities. This is a key factor expected to drive growth of the global natural gas storage market. In addition, increasing application of natural gas for industrial operations, transportation, and electricity generation is another major factor expected to drive growth of the global natural gas storage market over the forecast period.

However, high installation cost is a key factor hampering growth of the global natural gas storage market. Additionally, high operating cost and environmental issues related to brine disposal during construction and operation of gas storage are other major factors expected to hamper growth of the global natural gas storage market.

North America is a dominant player in the global natural gas storage market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to increasing production and exploration activities in the region. The market in Asia Pacific is projected to witness fastest growth over the forecast period, owing to rising domestic demand from end user segment in emerging economies in the region. Also, market in Europe is expected to witness significant growth over the forecast period.

Global Natural Gas Storage Market Segmentation:

Global natural gas storage market segmentation by type:

• Above-ground Storage
• Underground Storage

Global natural gas storage market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa