Global Underground Natural Gas Storage Market 2023-2029

Global Underground Natural Gas Storage Market 2023-2029

Underground natural gas storage refers to the process of storing natural gas in underground reservoirs or cavities for later use. This is typically done to ensure a reliable supply of natural gas during periods of high demand, such as during cold winter months when natural gas is used for heating. Underground natural gas storage is an important part of the natural gas supply chain, as it helps to ensure a reliable supply of natural gas during periods of high demand. According to the latest data, the market size of the global underground natural gas storage sector is expected to rise by USD 96.0 billion cubic meters with a CAGR of 3.21% by the end of 2029.

The report covers market size and growth, segmentation, regional breakdowns, competitive landscape, trends and strategies for global underground natural gas storage market. It presents a quantitative analysis of the market to enable stakeholders to capitalize on the prevailing market opportunities. The report also identifies top segments for opportunities and strategies based on market trends and leading competitors’ approaches.

This industry report offers market estimates and forecasts of the global market, followed by a detailed analysis of the type, type, and region. The global market for underground natural gas storage can be segmented by type: depleted gas reservoir, aquifer reservoir, salt caverns. The depleted gas reservoir segment held the largest share of the global underground natural gas storage market in 2022 and is anticipated to hold its share during the forecast period. Underground natural gas storage market is further segmented by type: depleted gas reservoir, salt caverns, aquifer reservoir, others. Globally, the depleted gas reservoir segment made up the largest share of the underground natural gas storage market. Based on region, the underground natural gas storage market is segmented into: Asia-Pacific, Europe, North America, RoW (Rest of World). North America was the largest contributor to the global underground natural gas storage market in 2022.

Market Segmentation

By type: depleted gas reservoir, aquifer reservoir, salt caverns

By type: depleted gas reservoir, salt caverns, aquifer reservoir, others

By region: Asia-Pacific, Europe, North America, RoW (Rest of World)

The global underground natural gas storage market report offers detailed information on several market vendors, including Gazprom PJSC, Enbridge, Inc., TC Energy Corporation, McDermott International, Inc., NAFTA a.s., Koninklijke Vopak N.V., Chart Industries, Inc., Uniper SE, Martin Midstream Partners L.P., Storengy S.A., among others. In this report, key players and their strategies are thoroughly analyzed to understand the competitive outlook of the market.

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Scope of the Report

• To analyze and forecast the market size of the global underground natural gas storage market.
• To classify and forecast the global underground natural gas storage market based on type, type, region.
• To identify drivers and challenges for the global underground natural gas storage market.
• To examine competitive developments such as mergers & acquisitions, agreements, collaborations and partnerships, etc., in the global underground natural gas storage market.
• To identify and analyze the profile of leading players operating in the global underground natural gas storage market.

Why Choose This Report

• Gain a reliable outlook of the global underground natural gas storage market forecasts from 2023 to 2029 across scenarios.
• Identify growth segments for investment.
• Stay ahead of competitors through company profiles and market data.
• The market estimate for ease of analysis across scenarios in Excel format.
• Strategy consulting and research support for three months.
• Print authentication provided for the single-user license.