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Global Natural Gas Storage Technologies Market it is Expected to Grow at a CAGR of 3.2% During the Forecast Period

Global Natural Gas Storage Technologies Market Industry Trends, Opportunities, Estimation & Forecast, 2019-2027

The natural gas storage technologies are currently playing a vital role for having a reliable supply of natural gas according to the demand of consumers. These natural gasses are commonly stored in an underground with greater pressure storage facilities. Natural gas storages ensures compensating the seasonal volatility of supply and demand. Thus, natural gases are compressed in summer and is restrained of compression during winter because of the market volatility. The majority of the demand for natural gas storage technologies is exhibited by decrease in reservoirs.

Key forces in rising the demand of natural gas are consisting of chemical, industrial, and transportation sector especially in the Asia-Pacific nations, it is expected to have higher significance on natural gas storage technology market during the forecast period. Moreover, advantages in of using natural gas as a clean-fuel, flexible and efficient in various purposes along with global efforts is reducing low-carbon emission, are contributing in the rise of demand of natural gas during forecast period. However, seasonal and volatile qualities of natural gas impact on the storage facilities demand

Global Natural Gas Storage Technologies Market was Valued at US$ AA Mn in 2018 and it is Expected to Grow at a CAGR of 3.2% During the Forecast Period.

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The underground storage Segment is expected to Witness Highest Growth in the Global Natural Gas Storage Technologies Market across the Globe

The underground storage facilities are estimated to account for a higher market demand of natural gas storage technologies. It is again categorized basing on the type of natural gas underground storage facilities for decreased oil & gas reservoirs, salt formations and aquifers. The necessity of underground storage facilities are rising the natural gas consumption about 5.2% in 2018. The natural gas storage technologies play crucial role in managing the balance of supply and demand. The underground storage facilities are estimated to increase mainly In the United States and Europe by reduction oil & gas fields, various oil & gas storage facilities that are existing in Texas are getting depleted of oil and gas reserves, whereas in Europe, and the United Kingdom’s offshore 130 bcm Rough field and the 43 bcm Severo-Stavropolskoye UGS facility in southern Russia standing out.

The Market in Europe Expected to Hold a Significant Share in Natural Gas Storage Technologies Market over the Forecast Period

The European market is anticipated for holding a considerable growth in Natural gas storage technologies offerings in terms of revenue and is projected for a healthy growth of CAGR rate during the forecast period. The European countries are essentially depended on natural gas and is growing significantly in natural gas storage facilities are increasing for securing the natural gas reserves, irrespective of season. Ukraine is known for its largest natural gas storage infrastructure. Germany, France, and Italy are also projected to store approximately one-third of its annual natural gas demand, therefore it is driving the market.

Competitive Landscape

Global natural gas storage technologies market is fragmented among the number of local and global players. There is an increase in the competition of firms that are offering Natural Gas Storage Technologies to the end-users.

Key players operating in the global Natural gas storage technologies are listed as follows: Samsung Heavy Industries, and Spectra Energy. Technip, GDF SUEZ, Worley Parsons, E-on Group, Chiyoda Corporation, Foster Wheeler and Niska Gas Storage Samsung Heavy Industries, Centrica.

Impact of COVID-19 on Economy, Industry and Company 

The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.

At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.

Areas at which Bizizz Market Research would help decision makers are:

a) Insights on current demand & supply gap analysis

b) Impact on value chain and supply chain and strategies adopted to off set its impact           

c) Impact on Industry / company revenue and predictive intelligence on forecast sales

d) In-depth analysis on market segmentation – both value and volume analysis

e) Market assessment, regional and country attractiveness, competitive benchmarking                         
    and entry strategy

f) Prioritizing strategies and how it would impact company’s short to long-term business
    outlook 

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