Natural Gas Storage Market By Type (Above Ground Natural Gas Storage, Underground Natural Gas Storage, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031

List of Tables

The global natural gas storage market was valued at $300.8 billion in 2021, and is projected to reach $629.0 billion by 2031, growing at a CAGR of 7.4% from 2022 to 2031.

Natural gas is a mixture of hydrocarbons. It is a non-renewable form of energy source that is commonly found alongside oil and coal reserves. Even though it produces greenhouse gases when burnt, it is considered a clean fuel as it emits a relatively lower amount of carbon dioxide and air pollutants. The natural gas storage market is experiencing high demand owing to increased application in the automotive and industrial sectors. Natural gas is used in several combustion processes in several industries. Vehicles are being promoted that run on natural gas. This leads to increased investment in storage capacity for natural gas. The use of natural gas in the automotive industry drives the growth of other natural gas storage options. Similarly, the increased use of clean fuel has prompted a demand from the industrial, commercial, and residential sectors. Such attributes help drive the growth of the natural gas market. Developing economies are focused on increasing storage capacity which further drives the natural gas storage market growth.

Natural gas is largely stored in depleted oil fields and mines. Since it is easy to extract gas from oil fields and Mines. Moreover, during stocking season, natural gas can be reinjected into the storage location. the reinjection also takes place smoothly. Storing natural gas in depleted oilfields and mines is cost-effective as well as also has minimal loss of natural gas. almost all the gas can be extracted. The natural gas storage market is gaining high momentum, especially during the Russo-Ukrainian war. Furthermore, increased commotion for exploring natural gas storage in developing economies of Asia-Pacifc which are prioritizing it above any other.

The natural gas storage market size is analyzed on the basis of type and region. Depending on the type, the market is divided into above-ground storage, underground storage, and others. The underground storage market garnered the lion's share and is expected to maintain its position during the forecast period. this is owed to ease in access of the gas for extraction and reinjection based on seasonal demand fluctuation. Region-wise, natural gas storage market analysis is done across North America, Europe, Asia-Pacific, and LAMEA (Latin America, Middle East, and Africa). North America dominated the market for 2021, however, Asia-Pacific is expected to grow at a relatively higher CAGR during the projection year. This is owed to increased activities for natural gas storage in developing economies like China, India, and South Korea. The key players in the market are Gazprom PJSC, Lukoil, Rosneft Oil Co., Total SA, Chevron Corporation, Shell plc, ExxonMobil Corporation, BP plc, Saudi ARAMCO, and China National Petroleum. Collaboration and business expansion activities are the recent trends for natural gas industry players as it opens new exploration sites and new markets for revenue generation.

The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investments. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain intense competition in the industry

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the natural gas storage market analysis from 2021 to 2031 to identify the prevailing natural gas storage market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the natural gas storage market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global natural gas storage market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Underground Natural Gas Storage
Others
Above Ground Natural Gas Storage

By Region

North America
- U.S.
- Canada
- Mexico
Europe
- Russia
- Ukraine
- Germany
- Italy
- France
- Austria
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
LAMEA
- Iran, Islamic Republic Of
- Qatar
- UAE
- Saudi Arabia
- Iraq
- Brazil
- Rest of LAMEA
Key Market Players
- Saudi Arabian Oil Co.
- Exxon Mobil Corporation
- Chevron Corporation
- Shell Plc.
- PJSC Rosneft Oil Company
- Gazprom PJSC
- Lukoil
- TotalEnergies SE
- BP p.l.c.
- China National Petroleum Corporation

Product Code: A06800

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key market segments
1.3.Key benefits to the stakeholders
1.4.Research Methodology
- 1.4.1.Secondary research
- 1.4.2.Primary research
- 1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings of the study
2.2.CXO Perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key findings
- 3.2.1.Top investment pockets
3.3.Porter's five forces analysis
3.4.Top player positioning
3.5.Market dynamics
- 3.5.1.Drivers
- 3.5.2.Restraints
- 3.5.3.Opportunities
3.6.COVID-19 Impact Analysis on the market
3.7.Value Chain Analysis
3.8.Patent Landscape

CHAPTER 4: NATURAL GAS STORAGE MARKET, BY TYPE

4.1 Overview
- 4.1.1 Market size and forecast
4.2 Above Ground Natural Gas Storage
- 4.2.1 Key market trends, growth factors and opportunities
- 4.2.2 Market size and forecast, by region
- 4.2.3 Market share analysis by country
4.3 Underground Natural Gas Storage
- 4.3.1 Key market trends, growth factors and opportunities
- 4.3.2 Market size and forecast, by region
- 4.3.3 Market share analysis by country
4.4 Others
- 4.4.1 Key market trends, growth factors and opportunities
- 4.4.2 Market size and forecast, by region
- 4.4.3 Market share analysis by country

CHAPTER 5: NATURAL GAS STORAGE MARKET, BY REGION

5.1 Overview
- 5.1.1 Market size and forecast
5.2 North America
- 5.2.1 Key trends and opportunities
- 5.2.2 North America Market size and forecast, by Type
- 5.2.3 North America Market size and forecast, by country
  - 5.2.3.1 U.S.
  - 5.2.3.1.1 Key market trends, growth factors and opportunities
  - 5.2.3.1.2 Market size and forecast, by Type
  - 5.2.3.2 Canada
  - 5.2.3.2.1 Key market trends, growth factors and opportunities
  - 5.2.3.2.2 Market size and forecast, by Type
  - 5.2.3.3 Mexico
  - 5.2.3.3.1 Key market trends, growth factors and opportunities
  - 5.2.3.3.2 Market size and forecast, by Type
5.3 Europe
- 5.3.1 Key trends and opportunities
- 5.3.2 Europe Market size and forecast, by Type
- 5.3.3 Europe Market size and forecast, by country
  - 5.3.3.1 Russia
  - 5.3.3.1.1 Key market trends, growth factors and opportunities
  - 5.3.3.1.2 Market size and forecast, by Type
  - 5.3.3.2 Ukraine
  - 5.3.3.2.1 Key market trends, growth factors and opportunities
  - 5.3.3.2.2 Market size and forecast, by Type
  - 5.3.3.3 Germany
  - 5.3.3.3.1 Key market trends, growth factors and opportunities
  - 5.3.3.3.2 Market size and forecast, by Type
  - 5.3.3.4 Italy
  - 5.3.3.4.1 Key market trends, growth factors and opportunities
  - 5.3.3.4.2 Market size and forecast, by Type
  - 5.3.3.5 France
  - 5.3.3.5.1 Key market trends, growth factors and opportunities
  - 5.3.3.5.2 Market size and forecast, by Type
  - 5.3.3.6 Austria
  - 5.3.3.6.1 Key market trends, growth factors and opportunities
  - 5.3.3.6.2 Market size and forecast, by Type
  - 5.3.3.7 Rest of Europe
  - 5.3.3.7.1 Key market trends, growth factors and opportunities
  - 5.3.3.7.2 Market size and forecast, by Type
5.4 Asia-Pacific
- 5.4.1 Key trends and opportunities
- 5.4.2 Asia-Pacific Market size and forecast, by Type
- 5.4.3 Asia-Pacific Market size and forecast, by country
  - 5.4.3.1 China
  - 5.4.3.1.1 Key market trends, growth factors and opportunities
  - 5.4.3.1.2 Market size and forecast, by Type
  - 5.4.3.2 Japan
  - 5.4.3.2.1 Key market trends, growth factors and opportunities
  - 5.4.3.2.2 Market size and forecast, by Type
  - 5.4.3.3 India
  - 5.4.3.3.1 Key market trends, growth factors and opportunities
  - 5.4.3.3.2 Market size and forecast, by Type
  - 5.4.3.4 South Korea
  - 5.4.3.4.1 Key market trends, growth factors and opportunities
  - 5.4.3.4.2 Market size and forecast, by Type
  - 5.4.3.5 Australia
  - 5.4.3.5.1 Key market trends, growth factors and opportunities
  - 5.4.3.5.2 Market size and forecast, by Type
  - 5.4.3.6 Rest of Asia-Pacific
  - 5.4.3.6.1 Key market trends, growth factors and opportunities
  - 5.4.3.6.2 Market size and forecast, by Type
5.5 LAMEA
- 5.5.1 Key trends and opportunities
- 5.5.2 LAMEA Market size and forecast, by Type
- 5.5.3 LAMEA Market size and forecast, by country
  - 5.5.3.1 Iran, Islamic Republic Of
  - 5.5.3.1.1 Key market trends, growth factors and opportunities
  - 5.5.3.1.2 Market size and forecast, by Type
  - 5.5.3.2 Qatar
  - 5.5.3.2.1 Key market trends, growth factors and opportunities
  - 5.5.3.2.2 Market size and forecast, by Type
  - 5.5.3.3 UAE
  - 5.5.3.3.1 Key market trends, growth factors and opportunities
  - 5.5.3.3.2 Market size and forecast, by Type
  - 5.5.3.4 Saudi Arabia
  - 5.5.3.4.1 Key market trends, growth factors and opportunities
  - 5.5.3.4.2 Market size and forecast, by Type
  - 5.5.3.5 Iraq
  - 5.5.3.5.1 Key market trends, growth factors and opportunities
  - 5.5.3.5.2 Market size and forecast, by Type
  - 5.5.3.6 Brazil
  - 5.5.3.6.1 Key market trends, growth factors and opportunities
  - 5.5.3.6.2 Market size and forecast, by Type
  - 5.5.3.7 Rest of LAMEA
  - 5.5.3.7.1 Key market trends, growth factors and opportunities
  - 5.5.3.7.2 Market size and forecast, by Type

CHAPTER 6: COMPANY LANDSCAPE

6.1. Introduction
6.2. Top winning strategies
6.3. Product Mapping of Top 10 Player
6.4. Competitive Dashboard
6.5. Competitive Heatmap
6.6. Key developments

CHAPTER 7: COMPANY PROFILES

7.1 Lukoil
- 7.1.1 Company overview
- 7.1.2 Company snapshot
- 7.1.3 Operating business segments
- 7.1.4 Product portfolio
- 7.1.5 Business performance
- 7.1.6 Key strategic moves and developments
7.2 TOTAL S.A.
- 7.2.1 Company overview
- 7.2.2 Company snapshot
- 7.2.3 Operating business segments
- 7.2.4 Product portfolio
- 7.2.5 Business performance
- 7.2.6 Key strategic moves and developments
7.3 Exxon Mobil Corporation
- 7.3.1 Company overview
- 7.3.2 Company snapshot
- 7.3.3 Operating business segments
- 7.3.4 Product portfolio
- 7.3.5 Business performance
- 7.3.6 Key strategic moves and developments
7.4 BP plc
- 7.4.1 Company overview
- 7.4.2 Company snapshot
- 7.4.3 Operating business segments
- 7.4.4 Product portfolio
- 7.4.5 Business performance
- 7.4.6 Key strategic moves and developments
7.5 Chevron Corporation
- 7.5.1 Company overview
- 7.5.2 Company snapshot
- 7.5.3 Operating business segments
- 7.5.4 Product portfolio
- 7.5.5 Business performance
- 7.5.6 Key strategic moves and developments
7.6 Shell Plc.
- 7.6.1 Company overview
- 7.6.2 Company snapshot
- 7.6.3 Operating business segments
- 7.6.4 Product portfolio
- 7.6.5 Business performance
- 7.6.6 Key strategic moves and developments
7.7 Gazprom
- 7.7.1 Company overview
- 7.7.2 Company snapshot
- 7.7.3 Operating business segments
- 7.7.4 Product portfolio
- 7.7.5 Business performance
- 7.7.6 Key strategic moves and developments
7.8 saudi aramco energy ventures
- 7.8.1 Company overview
- 7.8.2 Company snapshot
- 7.8.3 Operating business segments
- 7.8.4 Product portfolio
- 7.8.5 Business performance
- 7.8.6 Key strategic moves and developments
7.9 Roseneft Oil co
- 7.9.1 Company overview
- 7.9.2 Company snapshot
- 7.9.3 Operating business segments
- 7.9.4 Product portfolio
- 7.9.5 Business performance
- 7.9.6 Key strategic moves and developments
7.10 China National Petroleum
- 7.10.1 Company overview
- 7.10.2 Company snapshot
- 7.10.3 Operating business segments
- 7.10.4 Product portfolio
- 7.10.5 Business performance
- 7.10.6 Key strategic moves and developments