Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Natural Gas Storage Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Natural Gas Storage Market. The research also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and global Natural
Gas Storage Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global Natural Gas Storage Market is offered. In accordance with the report, the global
Natural Gas Storage Market is projected to
expand by healthy CAGR over the period
of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
A
hydrocarbon gas of natural origin that is a mixture of methane, alkanes, carbon
dioxide, helium, hydrogen sulfide, nitrogen in varying proportions leads to the
formation of natural gas. Natural gas in its liquid state is called liquified
natural gas (LNG). Natural gas is imperishable regardless of the time for which
it is kept in custody. The huge containers in which natural gas is stored is
called natural gas storage facilities. Natural gas storage can be measured with
by a number of metrics like total gas storage capacity, working gas capacity,
cycling rate, injection capacity and many more.
Market Drivers
As a
result of attaching importance to depleted reservoir storage, the demand for
natural gas storage is rising. Being a non-renewable energy, the storage and
efficient utilization of this resources is necessary to avoid production
malfunction, distribution glitch, happening of natural disasters and accidents.
This factor is providing the initial impetus to the natural gas storage market.
In
order to ensure the uninterrupted supply of natural gas to cater to the needs
of the end users, the demand for natural storage gas is rising. In addition to
this, the seasonal demand of natural gas on behalf of the end user is powering
the storage of excessively available natural gas and fueling the natural gas
storage market.
With
industrialization at a lightning speed, rapid urbanization, and electrification
of the underdeveloped regions of the emerging nations, the natural gas storage
market is thriving.
Natural
Gas is a good that can be stored for unrestricted time period and this brings
the necessity of storing them for an indefinite period and drives the natural
gas storage market.
Natural
gas is a clean energy, efficient fuel and imparts to versatility. In has a
negligible carbon emission. The surging demand among end users for the
employment of clean energy coupled with the government’s incentive in the
widespread adoption of clean energy is indirectly fueling this market.
Moreover, rising environmental concerns of the people and the government to
reduce carbon footprint is empowering the growth of the natural gas storage
market.
The
rising drilling and exploration activities would lead to the discovery of
chunks of natural gas. The further steps of processing, storing and
transporting is necessary.
Market Restraints
The
fluctuating and seasonal demand of natural gas storage coupled with the lack of
equilibrium of demand and supply forces is blocking the growth of this market.
The
requirement for heavy capital investment during the initial stages and
transmission capacity bottleneck is hindering the growth of this market.
The
maintenance and operational cost associated with the working of the natural gas
storage is high and is hampering the growth of the natural gas storage market.
Opportunities
The
government incentives are carving a niche to act as a support system for
enhancing the prospects of the natural gas storage in the near future. The
government’s support for reducing carbon emission is indirectly setting up
steps in the upward direction.
Technological
advancement in the obtainability of natural gas and research and development in
new storage techniques is a good set of circumstances for this market.
Depleting
reserves of fossil fuels and the constantly spurring demand for energy is
likely to sustain and nurture the natural gas storage market.
Trends
North
America is projected to showcase rapid market growth in the forecast period
owing the growing transition from traditional energy sources to clean energy
source and the rising awareness among consumers with regard to the above stated
fact. Asia Pacific is estimated to project notable market growth because of the
rising exploration and drilling works, urbanization, industrialization, drive
for clean energy sources, constantly growing economies and spurring demand for
power for end users. Europe is expected to emerge as the fastest growing market
because of the increasingly growing demand for energy for industrialization and
infrastructural development.
Segment Covered:
This market
intelligence report on the global Natural Gas Storage Market encompasses market segments based on product type,
underground storage type, end use and country.
By
Product Type the global Natural Gas Storage Market has been divided into:
q Aboveground
Storage
q Underground
Storage
By Underground Storage Type the
global Natural Gas Storage Market has been divided into:
q Salt
Caverns
q Aquifer
Reservoir
q Depleted
Gas Reservoir
By country/region,
the global Natural Gas Storage Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q NAFTA
A.S.
q Berkshire
Hathaway Energy
q Gas
Authority India Limited
q Enbridge
Inc
q Uniper
q Gazprom
q Martin
Midstream Partners L.P.
q TransCanada
Corp
q Chart
Industries
q Royal
Vopak N.V.
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Natural Gas Storage Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
NAFTA
On March 2018,
NAFTA entered into an agreement with DEA Deutsche Erdoel to acquire DEA’s three
underground storage of natural gas. The facilities are Wolfersberg,
Inzenham-West and Eggstatt facilities. The sale was completed by January 2019.
Berkshire Hathaway Energy
By November
2020, Berkshire Hathaway Energy has completed the acquisition of gas
transmission and storage assets of Dominion Energy. The asset includes gas
storage of 775 Bcf and was acquired at a price of $2,7 billion in cash.
Gas Authority India Limited (GAIL)
By November
2020, GAIL completed the construction of natural gas pipeline of
Kochi-Mangalore that was 444 km long.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Natural Gas
Storage Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Natural Gas Storage Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments, geographical
presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Natural Gas Storage caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Natural
Gas Storage Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Natural Gas Storage Market
v
Identification
of key factors driving investment opportunities in the Natural Gas
Storage Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants