Natural Gas Storage Market Updates by 2031
Natural Gas has emerged as a leading source of energy. Natural Gas is stored during the lower demand period and withdrawn during periods of higher demand. Stored natural gas plays a vital role in ensuring that any excess supply delivered during summer is available to meet the increased demand for winters. Natural Gas in storage imparts energy security against the catastrophic disaster that may affect the production or delivery of natural gas. Natural gas storage is broadly adopted by industries for commercial reasons.
MARKET DYNAMICS
Factors such as increasing demand for natural gas in chemical sector, industrial sector, and transportation sector majorly from Asia-Pacific countries is expected to drive the natural gas storage market during the forecast period. Moreover, the advantages for usage of natural gas as a clean-burning, versatile and efficient fuel for variety of purposes along with global efforts for low-carbon economy is likely to increase the demand for natural gas in the future. However, seasonal and volatile nature of demand, coupled with supply and demand imbalance is expected to hinder the growth of natural gas storage market.
MARKET SCOPE
The ˜Global Natural Gas Storage Market Analysis to 2031" is a specialized and in-depth study of the consumer goods industry with a particular focus on the global market trend analysis. The report aims to provide an overview of the natural gas storage market with detailed market segmentation by storage type, and application. The global natural gas storage market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading natural gas storage market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
1. By Storage Type: The global market is segmented into Underground, Floating, and Others.
2. By Application: The global market is segmented into Residential, Commercial, and Others.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The natural gas storage market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the natural gas storage market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the natural gas storage market in these regions.
IMPACT OF COVID 19
Natural gas demand is less sensitive to COVID-19 in the short-term compared to oil, due to its limited exposure to the transport sector. Although natural gas demand in the power sector is affected, the loss in commercial and industrial electricity demand is in part transferred to residential uses. However, natural gas demand could fall much further as the year progresses due to reduced demand in the power and industry sectors. Future demand will be dependent on how industrial uses of natural gas will be affected, short- and long-term impacts of natural gas sector investment cuts, and the degree to which government policies aimed at accelerating clean air and energy transitions will promote fuel switching and encourage investment in energy systems integration.
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The report provides a detailed overview of the industry, including both qualitative and quantitative information. It also provides market size and forecast estimates from the year 2021 to 2031 concerning five major regions, namely; North America, Europe, Asia- Pacific (APAC), Middle East and Africa (MEA), and South America. The natural gas storage market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the natural gas storage market from both the demand and supply sides. Further, it evaluates market dynamics affecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive best analysis for all five regions, namely; North America, Europe APAC, MEA, and South America, after evaluating political, economic, social, and technological factors affecting the natural gas storage market in these regions.
IMPACT OF COVID 19
Natural gas demand is less sensitive to COVID-19 in the short-term compared to oil, due to its limited exposure to the transport sector. Although natural gas demand in the power sector is affected, the loss in commercial and industrial electricity demand is in part transferred to residential uses. However, natural gas demand could fall much further as the year progresses due to reduced demand in the power and industry sectors. Future demand will be dependent on how industrial uses of natural gas will be affected, short- and long-term impacts of natural gas sector investment cuts, and the degree to which government policies aimed at accelerating clean air and energy transitions will promote fuel switching and encourage investment in energy systems integration.
MARKET PLAYERS
The report covers vital developments in the natural gas storage market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others, such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnerships and collaborations. These activities have paved the way for the expansion of businesses and the customer base of market players. The market players from the natural gas storage market are anticipated to have lucrative growth opportunities in the future with the rising demand for natural gas storage in the global market. Below mentioned is the list of a few companies engaged in the natural gas storage market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the natural gas storage market. Decide the report focuses on leading industry players with information such as company profiles, products, and services offered, financial information of the last three years, the critical development in the past five years.
1. Centrica
2. Chiyoda Corporation
3. DTE Energy
4. Engie SA
5. Enbridge Inc
6. Sempra Energy
7. Spectra Energy
8. Trafigura
9. TransCanada
10. WorleyParsons
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1.INTRODUCTION
1.1.SCOPE OF THE STUDY
1.2.THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3.MARKET SEGMENTATION
1.3.1Natural Gas Storage Market - By Storage Type
1.3.2Natural Gas Storage Market - By Application
1.3.3Natural Gas Storage Market - By Region
1.3.3.1By Country
2.KEY TAKEAWAYS
3.RESEARCH METHODOLOGY
4.NATURAL GAS STORAGE MARKET LANDSCAPE
4.1.OVERVIEW
4.2.PORTER'S FIVE FORCES ANALYSIS
4.2.1Bargaining Power of Buyers
4.2.1Bargaining Power of Suppliers
4.2.1Threat of Substitute
4.2.1Threat of New Entrants
4.2.1Competitive Rivalry
4.3.EXPERT OPINIONS
5.NATURAL GAS STORAGE MARKET - KEY MARKET DYNAMICS
5.1.KEY MARKET DRIVERS
5.2.KEY MARKET RESTRAINTS
5.3.KEY MARKET OPPORTUNITIES
5.4.FUTURE TRENDS
5.5.IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6.NATURAL GAS STORAGE MARKET - GLOBAL MARKET ANALYSIS
6.1.NATURAL GAS STORAGE - GLOBAL MARKET OVERVIEW
6.2.NATURAL GAS STORAGE - GLOBAL MARKET AND FORECAST TO 2028
6.3.MARKET POSITIONING/MARKET SHARE
7.NATURAL GAS STORAGE MARKET - REVENUE AND FORECASTS TO 2028 " STORAGE TYPE
7.1.OVERVIEW
7.2.STORAGE TYPE MARKET FORECASTS AND ANALYSIS
7.3.UNDERGROUND
7.3.1.Overview
7.3.2.Underground Market Forecast and Analysis
7.4.FLOATING
7.4.1.Overview
7.4.2.Floating Market Forecast and Analysis
7.5.OTHERS
7.5.1.Overview
7.5.2.Others Market Forecast and Analysis
8.NATURAL GAS STORAGE MARKET - REVENUE AND FORECASTS TO 2028 " APPLICATION
8.1.OVERVIEW
8.2.APPLICATION MARKET FORECASTS AND ANALYSIS
8.3.RESIDENTIAL
8.3.1.Overview
8.3.2.Residential Market Forecast and Analysis
8.4.COMMERCIAL
8.4.1.Overview
8.4.2.Commercial Market Forecast and Analysis
8.5.OTHERS
8.5.1.Overview
8.5.2.Others Market Forecast and Analysis
9.NATURAL GAS STORAGE MARKET REVENUE AND FORECASTS TO 2028 " GEOGRAPHICAL ANALYSIS
9.1.NORTH AMERICA
9.1.1North America Natural Gas Storage Market Overview
9.1.2North America Natural Gas Storage Market Forecasts and Analysis
9.1.3North America Natural Gas Storage Market Forecasts and Analysis - By Storage Type
9.1.4North America Natural Gas Storage Market Forecasts and Analysis - By Application
9.1.5North America Natural Gas Storage Market Forecasts and Analysis - By Countries
9.1.5.1United States Natural Gas Storage Market
9.1.5.1.1United States Natural Gas Storage Market by Storage Type
9.1.5.1.2United States Natural Gas Storage Market by Application
9.1.5.2Canada Natural Gas Storage Market
9.1.5.2.1Canada Natural Gas Storage Market by Storage Type
9.1.5.2.2Canada Natural Gas Storage Market by Application
9.1.5.3Mexico Natural Gas Storage Market
9.1.5.3.1Mexico Natural Gas Storage Market by Storage Type
9.1.5.3.2Mexico Natural Gas Storage Market by Application
9.2.EUROPE
9.2.1Europe Natural Gas Storage Market Overview
9.2.2Europe Natural Gas Storage Market Forecasts and Analysis
9.2.3Europe Natural Gas Storage Market Forecasts and Analysis - By Storage Type
9.2.4Europe Natural Gas Storage Market Forecasts and Analysis - By Application
9.2.5Europe Natural Gas Storage Market Forecasts and Analysis - By Countries
9.2.5.1Germany Natural Gas Storage Market
9.2.5.1.1Germany Natural Gas Storage Market by Storage Type
9.2.5.1.2Germany Natural Gas Storage Market by Application
9.2.5.2France Natural Gas Storage Market
9.2.5.2.1France Natural Gas Storage Market by Storage Type
9.2.5.2.2France Natural Gas Storage Market by Application
9.2.5.3Italy Natural Gas Storage Market
9.2.5.3.1Italy Natural Gas Storage Market by Storage Type
9.2.5.3.2Italy Natural Gas Storage Market by Application
9.2.5.4Spain Natural Gas Storage Market
9.2.5.4.1Spain Natural Gas Storage Market by Storage Type
9.2.5.4.2Spain Natural Gas Storage Market by Application
9.2.5.5United Kingdom Natural Gas Storage Market
9.2.5.5.1United Kingdom Natural Gas Storage Market by Storage Type
9.2.5.5.2United Kingdom Natural Gas Storage Market by Application
9.2.5.6Russia Natural Gas Storage Market
9.2.5.6.1Russia Natural Gas Storage Market by Storage Type
9.2.5.6.2Russia Natural Gas Storage Market by Application
9.2.5.7Rest of Europe Natural Gas Storage Market
9.2.5.7.1Rest of Europe Natural Gas Storage Market by Storage Type
9.2.5.7.2Rest of Europe Natural Gas Storage Market by Application
9.3.ASIA-PACIFIC
9.3.1Asia-Pacific Natural Gas Storage Market Overview
9.3.2Asia-Pacific Natural Gas Storage Market Forecasts and Analysis
9.3.3Asia-Pacific Natural Gas Storage Market Forecasts and Analysis - By Storage Type
9.3.4Asia-Pacific Natural Gas Storage Market Forecasts and Analysis - By Application
9.3.5Asia-Pacific Natural Gas Storage Market Forecasts and Analysis - By Countries
9.3.5.1Australia Natural Gas Storage Market
9.3.5.1.1Australia Natural Gas Storage Market by Storage Type
9.3.5.1.2Australia Natural Gas Storage Market by Application
9.3.5.2China Natural Gas Storage Market
9.3.5.2.1China Natural Gas Storage Market by Storage Type
9.3.5.2.2China Natural Gas Storage Market by Application
9.3.5.3India Natural Gas Storage Market
9.3.5.3.1India Natural Gas Storage Market by Storage Type
9.3.5.3.2India Natural Gas Storage Market by Application
9.3.5.4Japan Natural Gas Storage Market
9.3.5.4.1Japan Natural Gas Storage Market by Storage Type
9.3.5.4.2Japan Natural Gas Storage Market by Application
9.3.5.5South Korea Natural Gas Storage Market
9.3.5.5.1South Korea Natural Gas Storage Market by Storage Type
9.3.5.5.2South Korea Natural Gas Storage Market by Application
9.3.5.6Rest of Asia-Pacific Natural Gas Storage Market
9.3.5.6.1Rest of Asia-Pacific Natural Gas Storage Market by Storage Type
9.3.5.6.2Rest of Asia-Pacific Natural Gas Storage Market by Application
9.4.MIDDLE EAST AND AFRICA
9.4.1Middle East and Africa Natural Gas Storage Market Overview
9.4.2Middle East and Africa Natural Gas Storage Market Forecasts and Analysis
9.4.3Middle East and Africa Natural Gas Storage Market Forecasts and Analysis - By Storage Type
9.4.4Middle East and Africa Natural Gas Storage Market Forecasts and Analysis - By Application
9.4.5Middle East and Africa Natural Gas Storage Market Forecasts and Analysis - By Countries
9.4.5.1South Africa Natural Gas Storage Market
9.4.5.1.1South Africa Natural Gas Storage Market by Storage Type
9.4.5.1.2South Africa Natural Gas Storage Market by Application
9.4.5.2Saudi Arabia Natural Gas Storage Market
9.4.5.2.1Saudi Arabia Natural Gas Storage Market by Storage Type
9.4.5.2.2Saudi Arabia Natural Gas Storage Market by Application
9.4.5.3U.A.E Natural Gas Storage Market
9.4.5.3.1U.A.E Natural Gas Storage Market by Storage Type
9.4.5.3.2U.A.E Natural Gas Storage Market by Application
9.4.5.4Rest of Middle East and Africa Natural Gas Storage Market
9.4.5.4.1Rest of Middle East and Africa Natural Gas Storage Market by Storage Type
9.4.5.4.2Rest of Middle East and Africa Natural Gas Storage Market by Application
9.5.SOUTH AND CENTRAL AMERICA
9.5.1South and Central America Natural Gas Storage Market Overview
9.5.2South and Central America Natural Gas Storage Market Forecasts and Analysis
9.5.3South and Central America Natural Gas Storage Market Forecasts and Analysis - By Storage Type
9.5.4South and Central America Natural Gas Storage Market Forecasts and Analysis - By Application
9.5.5South and Central America Natural Gas Storage Market Forecasts and Analysis - By Countries
9.5.5.1Brazil Natural Gas Storage Market
9.5.5.1.1Brazil Natural Gas Storage Market by Storage Type
9.5.5.1.2Brazil Natural Gas Storage Market by Application
9.5.5.2Argentina Natural Gas Storage Market
9.5.5.2.1Argentina Natural Gas Storage Market by Storage Type
9.5.5.2.2Argentina Natural Gas Storage Market by Application
9.5.5.3Rest of South and Central America Natural Gas Storage Market
9.5.5.3.1Rest of South and Central America Natural Gas Storage Market by Storage Type
9.5.5.3.2Rest of South and Central America Natural Gas Storage Market by Application
10.INDUSTRY LANDSCAPE
10.1.MERGERS AND ACQUISITIONS
10.2.AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3.NEW PRODUCT LAUNCHES
10.4.EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11.NATURAL GAS STORAGE MARKET, KEY COMPANY PROFILES
11.1.CENTRICA
11.1.1.Key Facts
11.1.2.Business Description
11.1.3.Products and Services
11.1.4.Financial Overview
11.1.5.SWOT Analysis
11.1.6.Key Developments
11.2.CHIYODA CORPORATION
11.2.1.Key Facts
11.2.2.Business Description
11.2.3.Products and Services
11.2.4.Financial Overview
11.2.5.SWOT Analysis
11.2.6.Key Developments
11.3.DTE ENERGY
11.3.1.Key Facts
11.3.2.Business Description
11.3.3.Products and Services
11.3.4.Financial Overview
11.3.5.SWOT Analysis
11.3.6.Key Developments
11.4.ENGIE SA
11.4.1.Key Facts
11.4.2.Business Description
11.4.3.Products and Services
11.4.4.Financial Overview
11.4.5.SWOT Analysis
11.4.6.Key Developments
11.5.ENBRIDGE INC
11.5.1.Key Facts
11.5.2.Business Description
11.5.3.Products and Services
11.5.4.Financial Overview
11.5.5.SWOT Analysis
11.5.6.Key Developments
11.6.SEMPRA ENERGY
11.6.1.Key Facts
11.6.2.Business Description
11.6.3.Products and Services
11.6.4.Financial Overview
11.6.5.SWOT Analysis
11.6.6.Key Developments
11.7.SPECTRA ENERGY
11.7.1.Key Facts
11.7.2.Business Description
11.7.3.Products and Services
11.7.4.Financial Overview
11.7.5.SWOT Analysis
11.7.6.Key Developments
11.8.TRAFIGURA
11.8.1.Key Facts
11.8.2.Business Description
11.8.3.Products and Services
11.8.4.Financial Overview
11.8.5.SWOT Analysis
11.8.6.Key Developments
11.9.TRANSCANADA
11.9.1.Key Facts
11.9.2.Business Description
11.9.3.Products and Services
11.9.4.Financial Overview
11.9.5.SWOT Analysis
11.9.6.Key Developments
11.10.WORLEYPARSONS
11.10.1.Key Facts
11.10.2.Business Description
11.10.3.Products and Services
11.10.4.Financial Overview
11.10.5.SWOT Analysis
11.10.6.Key Developments
12.APPENDIX
12.1.ABOUT THE INSIGHT PARTNERS
12.2.GLOSSARY OF TERMS
1.Centrica
2.Chiyoda Corporation
3.DTE Energy
4.Engie SA
5.Enbridge Inc
6.Sempra Energy
7.Spectra Energy
8.Trafigura
9.TransCanada
10.WorleyParsons
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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