“Globally rising natural gas demand coupled with energy security issue is anticipated to fuel natural gas storage market growth over the next seven years”, says Visiongain

08 January 2020
Energy

The Natural Gas Storage Market Report 2020-2030: Forecasts by Type {Above Ground Storage (Liquefaction, Regasification, Floating LNG), Underground Storage (Depleted Reservoirs, Salt Caverns, Aquifers)}, By Distribution (Online, Offline), by Region (North America, Europe, Asia Pacific, Central & South America, Middle East & Africa) and analysis of leading companies operating in this industry.

Globally rising natural gas demand coupled with energy security issue is anticipated to fuel natural gas storage market growth over the next seven years. Increasing consumption in end-use industries such as electricity generation, transportation, and industrial activities is projected to boost the market over the forecast period.

Storage facilities are necessary to handle the supply needed to meet the increasing global demand for energy. Rapid industrialization and increasing urbanization in Asia Pacific and Latin America's emerging economies are projected to significantly boost market growth over the forecast period.

It is expected that rising demand for natural gas will drive oil & gas exploration activities, which in turn will increase demand for storage facilities. The sector, above ground processing and underground storage facilities, is split into two groups. In contrast, underground storage sites are categorized into drained lakes, creation of salt caverns and aquifers.

Favourable government regulations are expected to remain a key driver of market growth over the forecast period due to low carbon content compared to coal. At the time of low availability and demand on the market, these storage facilities are used as a betting device.

Gas storage is also used in trading centers to maintain commodity liquidity to counter price uncertainty and volatility. Increasing demand from the transport industry is expected to drive production over the next seven years due to features such as low cost, robust distribution infrastructure, and low emissions. Automobiles for natural gas include automobiles for dedicated, bi-fuel and dual fuel.

Growing industrial sectors are expected to complement market growth in countries such as China, India, Brazil, Russia, and the UAE. Increasing use of natural gas over coal in industries due to low cost and environmental benefits is expected to further boost demand over the forecast period.

Regarding factors such as natural disasters, unexpected incidents, and malfunctions in manufacturing or delivery, these storage facilities are important. Increasing demand for fuel gas-fired electric generators is projected to support more market growth due to retail, commercial and residential cooling. High construction cost coupled with crucial constraints on transmission capability is projected to hamper market growth and threaten participants in the industry over the forecast period.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

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