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 Natural Gas is stored during the lower demand period and withdrawn during periods of higher demand.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 2028" 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 2018 to 2028 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