Global Natural Gas Storage Market 2015-2019
About Natural Gas Storage
Natural gas storage involves accumulation of natural gas in several storage facilities for future consumption. The purpose of storage is to meet the fluctuating energy demand during the peak and off-peak seasons. Generally, natural gas is stored during the off-peak season and utilized during the peak season. This reduces the demand and supply gap, and increases the reliability of supply.
TechNavio's analysts forecast the Global Natural Gas Storage market to grow at a CAGR of 6.02 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global Natural Gas Storage market for the period 2015-2019. The report mainly covers two segments: the Aboveground Storage segment and the Underground Storage segment. The report covers a detailed study based on geographical segmentation and provides the breakdown of all three geographies: the Americas, the EMEA region, and the APAC region. The report also presents the vendor landscape and a corresponding detailed analysis of the key vendors in the Global Natural Gas Storage market. However, this report does not provide the market share of the vendors; it only lists the key players in the market. In addition, the report discusses the major drivers that influence the growth of the Global Natural Gas Storage market. It also outlines the challenges faced by vendors and the market at large, as well as the key trends that are emerging in the market.
TechNavio's report, Global Natural Gas Storage Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Americas, and the EMEA and APAC regions; it also covers the Global Natural Gas Storage market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Global Natural Gas Storage Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Natural Gas Storage Market: Centrica plc, GDF SUEZ SA, Niska Gas Storage Partners LLC, Samsung Heavy Industries Co. Ltd. (SHI) and Spectra Energy Corp.
Other Prominent Vendors in the market are: Chiyoda, E-on, Foster Wheeler, Technip and Worley Parsons
Commenting on the report, an analyst from Technavio’s team said: “One key trend emerging in this market is the need to enhance the gas distribution network. Market players are investing a huge amount to improve the gas distribution network by integrating it with depleted gas storage reserves.”
According to the report, one of the main drivers in this market is growing energy security concerns. Depleting gas reserves and increased gas consumption have forced governments to invest in the storage of natural gas to meet future energy demand.
Further, the report states that one of the major challenges that the market faces is the capital-intensive nature of the market. High construction costs, land acquisitions, and government approvals are some of the major cost-incurring components for the market.
Centrica, GDF SUEZ, Niska Gas Storage Partners, Samsung Heavy Industries, Spectra Energy, Chiyoda, E-on, Foster Wheeler, Technip, Worley Parsons
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