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Underground Gas Storage Market Size, Share & Trends Analysis Report By Product (Natural Gas, Hydrogen), By Type (Aquifer Reservoir, Salt Caverns), By Region, And Segment Forecasts, 2023 - 2030

January 2023 | 80 pages | ID: UFE77C984674EN
Grand View Research, Inc.

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Underground Gas Storage Market Growth & Trends

The global underground gas storage market size is expected to reach 565.74 BCM by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 2.5% from 2023 to 2030. The industry is projected to have substantial growth over the estimated period owing to the increasing reliability of gas in residential, commercial, industrial, and transportation applications. The industrial sector consumes underground natural gas as a fuel for power systems, combined heat, process heating, and primarily as a raw material in fertilizer, chemical, and hydrogen production.

With an increase in the production of natural gas, its storage is becoming increasingly important. The depleted gas reservoirs segment was dominant in 2022 and is expected to keep its position over the forecast period. Depleted natural gas reservoirs account for 76% of the world’s total natural gas storage volume and are being used for decades. Gas fields are larger in volume and more widely distributed than salt caverns. The rock formation of depleted reservoirs can withstand recurring cycles of pressure rise and drop throughout the process of natural gas injection and gas production.

The discovery of new gas reservoirs provides an opportunity for industry players to explore oil and gas wells, which is likely to have a positive influence on industry growth during the forecast period. Demand for underground gas storage is projected to rise over the forecast period owing to supportive government policies and programs to cut carbon emissions. The increasing investments in research and development of underground hydrogen storage in developed countries, such as the U.S., China, and Russia, are further expected to strengthen industry growth.

Underground Gas Storage Market Report Highlights
  • In terms of volume, the natural gas product segment accounted for a prominent share in 2022 and is further expected to witness steady growth over the forecast period
  • In 2022, Europe accounted for the maximum market share. Demand for natural gas storage is strongest in terms of depleted reservoirs in France, Germany, Russia, and Italy
  • Depleted fields hold the largest volume of gas as they are deep and are naturally known to have hydrocarbon deposits
  • In the storage type segment, depleted gas reservoirs accounted for the largest share in 2022. Depleted natural gas reservoirs account for 76% of the world’s total natural gas storage volume and are being used for decades
  • Various strategic initiatives have been observed over the past few years to boost the growth of the industry. For instance, in April 2022, Uniper SE announced a natural gas storage facility in Krummh?rn, which will be put to the test for hydrogen storage
  • Uniper will test this on a large scale and in a real environment. This will be accomplished by sinking the latest cavern using an existing well
CHAPTER 1 METHODOLOGY & SCOPE

1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
  1.3.1 Purchased Database
  1.3.2 GVR’s Internal Database
  1.3.3 Secondary Sources
  1.3.4 Third Party Perspective
  1.3.5 Primary Research
1.4 Information Analysis
  1.4.1 Data Analysis Models
1.5 Market Formulation and Data Visualization
1.6 Data Validation and Publishing

CHAPTER 2 EXECUTIVE SUMMARY

2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot

CHAPTER 3 MARKET VARIABLES, TRENDS, AND SCOPE

3.1 Penetration and Growth Prospects
3.2 Industry Value Chain Analysis
3.3 Technology Overview
  3.3.1 Adsorbed Underground natural gas (ANG)
  3.3.2 Intelligent Well Technology (IWT)
  3.3.3 Cavern design and control technology
  3.3.4 Old cavern screening and utilization technology
3.4 Regulatory Framework
  3.4.1 Standard & Compliances
3.5 Market Dynamics
  3.5.1 Market Driver Analysis
    3.5.1.1 Increasing demand for underground natural gas
    3.5.1.2 Increasing demand for underground hydrogen storage
  3.5.2 Market Restraint Analysis
    3.5.2.1 HIGH CAPITAL-INTENSIVE NATURE OF THE MARKET
  3.5.3 Opportunity Analysis
    3.5.3.1 Discovery of gas reservoirs
3.6 Underground Gas Storage Industry Analysis - Porter’s
3.7 Underground Gas Storage Industry Analysis - PESTEL
3.8 Impact of Corona Virus on Underground Gas Storage Market
  3.8.1 Impact Verdict - Medium
3.9 Eastern European Geopolitical Implications

CHAPTER 4 UNDERGROUND GAS STORAGE MARKET: PRODUCT ESTIMATES & TREND ANALYSIS

4.1 Underground gas storage Market: Product Movement Analysis, 2022 & 2030
4.2 Natural gas
  4.2.1 Underground Natural gas storage market estimates and forecasts, by natural gas, 2018 - 2030 (MCM)
4.3 Hydrogen
  4.3.1 Underground Natural gas storage market estimates and forecasts, by Hydrogen, 2018-2030 (Volume in MCM)
4.4 Others
  4.4.1 Underground Natural gas storage market estimates and forecasts, by Others, 2018-2030 (Volume in MCM)

CHAPTER 5 UNDERGROUND GAS STORAGE MARKET: TYPE ESTIMATES & TREND ANALYSIS

5.1 Underground Gas Storage Market: Type Movement Analysis, 2022 & 2030
5.2 Depleted Gas Reservoir
  5.2.1 Underground Natural gas storage market estimates and forecasts, by Depleted Gas Reservoir, 2018 - 2030 (MCM)
5.3 Aquifer reservoir
  5.3.1 Underground Natural gas storage market estimates and forecasts, by Aquifer RESERVIOR, 2018 - 2030 (MCM)
5.4 Salt Caverns
  5.4.1 Underground Natural gas storage market estimates and forecasts, by Salt Caverns, 2018 - 2030 (MCM)
5.5 Others
  5.5.1 Underground Natural gas storage market estimates and forecasts, by Others, 2018 - 2030 (MCM)

CHAPTER 6 UNDERGROUND GAS STORAGE MARKET: REGIONAL ESTIMATES & TREND ANALYSIS

6.1 Global Underground Gas Storage Market: Regional Movement Analysis, 2022 & 2030
6.2 North America
  6.2.1 North America underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
  6.2.2 North America underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.2.3 U.S.
    6.2.3.1 U.S. underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.2.3.1 U.S. underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.2.4 Canada
    6.2.4.1 Canada underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.2.4.1 Canada underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
6.3 Europe
  6.3.1 Europe underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
  6.3.2 Europe underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.3.3 Germany
    6.3.3.1 Germany underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.3.3.2 Germany underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.3.4 Russia
    6.3.4.1 Russia underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.3.4.2 Russia underground gas storage market estimates and forecasts, by type, 2018 - 2030 (MCM)
  6.3.5 France
    6.3.5.1 France underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.3.5.2 France underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.3.6 Italy
    6.3.6.1 Italy underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.3.6.2 Italy underground gas storage market estimates and forecasts, by type, 2018 - 2030 (MCM)
6.4 Asia Pacific
  6.4.1 Asia Pacific underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
  6.4.2 Asia Pacific underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.4.3 China
    6.4.3.1 China underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.4.3.2 China underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.4.4 India
    6.4.4.1 India underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.4.4.2 India underground gas storage market estimates and forecasts, by type, 2018 - 2030 (MCM)
  6.4.5 Australia
    6.4.5.1 Australia underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.4.5.2 Australia underground gas storage market estimates and forecasts, by Underground gas storage, 2018 - 2030 (MCM)
6.5 Latin America
  6.5.1 Latin America underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
  6.5.2 Latin America underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.5.3 Mexico
    6.5.3.1 Mexico underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.5.3.2 Mexico underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.5.4 Brazil
    6.5.4.1 Brazil underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.5.4.2 Brazil underground gas storage market estimates and forecasts, by type, 2018 - 2030 (MCM)
6.6 Middle East and North Africa
  6.6.1 Middle East and North Africa underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
  6.6.2 Middle East and North Africa underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.6.3 Algeria
    6.6.3.1 Algeria underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.6.3.2 Algeria underground gas storage market estimates and forecasts, by Type, 2018 - 2030 (MCM)
  6.6.4 Egypt
    6.6.4.1 Egypt underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.6.4.2 Egypt underground gas storage market estimates and forecasts, by type, 2018 - 2030 (MCM)
  6.6.5 Libya
    6.6.5.1 Libya underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.6.5.2 Libya underground gas storage market estimates and forecasts, by Underground gas storage, 2018 - 2030 (MCM)
  6.6.6 UAE
    6.6.6.1 UAE underground gas storage market estimates and forecasts, by Product, 2018 - 2030 (MCM)
    6.6.6.2 UAE underground gas storage market estimates and forecasts, by Underground gas storage, 2018 - 2030 (MCM)

CHAPTER 7 COMPETITIVE LANDSCAPE

7.1 Key Global Players & Recent Developments & Their Impact on the Industry
  7.1.1 Major Deals & Strategic Alliances
7.2 Vendor Landscape
    7.2.1.1 List of Key Distributors and Channel Partners
7.3 Public Companies
  7.3.1 competitive Dashboard Analysis
7.4 Private Companies
  7.4.1 List of Key Emerging Companies/Technology Disruptors/Innovators

CHAPTER 8 COMPANY PROFILES

8.1 TransCanada PipeLines Ltd.
  8.1.1 Company Overview
  8.1.2 Financial Performance
  8.1.3 Product Benchmarking
  8.1.4 Strategic Initiatives
8.2 Baker Hughes Company
  8.2.1 Company Overview.
  8.2.2 Financial Performance
  8.2.3 Product Benchmarking
  8.2.4 Strategic Initiatives
8.3 NOV Inc.
  8.3.1 Company Overview
  8.3.2 Financial Performance
  8.3.3 Product Benchmarking
  8.3.4 Strategic Initiatives
8.4 John Wood Group PLC
  8.4.1 Company Overview
  8.4.2 Financial Performance
  8.4.3 Product Benchmarking
  8.4.4 Strategic Initiatives
8.5 Magellan Midstream Partners, L.P.
  8.5.1 Company Overview
  8.5.2 Financial Performance
  8.5.3 Product Benchmarking
  8.5.4 Strategic Initiatives
8.6 Blade Energy Partners
  8.6.1 Company Overview
  8.6.2 Product Benchmarking
  8.6.3 Strategic Initiatives
8.7 Uniper SE
  8.7.1 Company Overview
  8.7.2 Product Benchmarking
  8.7.3 Financial Performance
  8.7.4 Strategic Initiatives
8.8 NAFTA a. s.
  8.8.1 Company Overview
  8.8.2 Product Benchmarking
  8.8.3 Financial Performance
  8.8.4 Strategic Initiatives
8.9 Chart Industries
  8.9.1 Company Overview
  8.9.2 Financial Performance
  8.9.3 Product Benchmarking
  8.9.4 Strategic Initiatives
8.10 ENBRIDGE INC.
  8.10.1 Company Overview
  8.10.2 Financial Performance
  8.10.3 Product Benchmarking
  8.10.4 Strategic Initiatives
8.11 Royal Vopak N.V.
  8.11.1 Company Overview
  8.11.2 Financial Performance
  8.11.3 Product Benchmarking
  8.11.4 Strategic Initiatives
8.12 ADNOC
  8.12.1 Company Overview
  8.12.2 Financial Performance
  8.12.3 Product Benchmarking
  8.12.4 Strategic Initiatives
8.13 Buckeye Partners, L.P
  8.13.1 Company Overview
  8.13.2 Product Benchmarking
  8.13.3 Strategic Initiatives
8.14 Texas Brine Company, LLC
  8.14.1 Company Overview
  8.14.2 Product Benchmarking
  8.14.3 Strategic Initiatives
8.15 Weatherford
  8.15.1 Company Overview
  8.15.2 Product Benchmarking
  8.15.3 Financial Performance
  8.15.4 Strategic Initiatives
LIST OF TABLES

Table 1 Underground Natural Gas Storage Market estimates and forecasts, by Natural Gas, 2018 - 2030 (MCM)
Table 2 Underground Natural Gas Storage Market estimates and forecasts, by Hydrogen, 2018 - 2030 (MCM)
Table 3 Underground Natural Gas Storage Market estimates and forecasts, by Others, 2018 - 2030 (MCM)
Table 4 Underground Natural Gas Storage Market estimates and forecasts, by Depleted gas reservoir, 2018 - 2030 (MCM)
Table 5 Underground Natural Gas Storage Market estimates and forecasts, by Aquifer reservoir, 2018 - 2030 (MCM)
Table 6 Underground Natural Gas Storage Market estimates and forecasts, by Salt Caverns, 2018 - 2030 (MCM)
Table 7 Underground Natural Gas Storage Market estimates and forecasts, by Others, 2018 - 2030 (MCM)
Table 8 North America underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 9 North America underground gas storage market estimates and forecasts, by type, 2018 - 2030
Table 10 U.S. underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 11 U.S. underground gas storage market estimates and forecasts, by type, 2018 - 2030
Table 12 Canada underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 13 Canada underground gas storage market estimates and forecasts, by type, 2018 - 2030
Table 14 Europe underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 15 Europe underground gas storage market estimates and forecasts, by type, 2018 - 2030
Table 16 Germany underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 17 Germany underground gas storage market estimates and forecasts, by type, 2018 - 2030
Table 18 Russia underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 19 Russia underground gas storage market estimates and forecasts, by type, 2018 - 2030
Table 20 France underground gas storage market estimates and forecasts, by product, 2018 - 2030 (MCM)
Table 21 France underground gas storage market estimates and forecasts, by type, 2018 - 2030 (MCM)
Table 22 Italy underground gas storage market estimates and forecasts, by product, 2018 - 2030 (MCM)
Table 23 Italy underground gas storage market estimates and forecasts, by type, 2018 - 2030 (MCM)
Table 24 Asia Pacific underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 25 Asia Pacific underground gas storage market estimates and forecasts, by type 2018 - 2030
Table 26 China underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 27 China underground gas storage market estimates and forecasts, by type 2018 - 2030
Table 28 India underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 29 India underground gas storage market estimates and forecasts, by type 2018 - 2030
Table 30 Australia underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 31 Australia underground gas storage market estimates and forecasts, by application, 2018 - 2030
Table 32 Latin America underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 33 Latin America underground gas storage market estimates and forecasts, by type, 2018 - 2030
Table 34 Mexico underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 35 Mexico underground gas storage market estimates and forecasts, by type, 2018 - 2030
Table 36 Brazil underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 37 Brazil underground gas storage market estimates and forecasts, by type, 2018 - 2030
Table 38 Middle East and North Africa underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 39 Middle East and North Africa underground gas storage market estimates and forecasts, by type 2018 - 2030
Table 40 Algeria underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 41 Algeria underground gas storage market estimates and forecasts, by type 2018 - 2030
Table 42 Egypt underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 43 Egypt underground gas storage market estimates and forecasts, by type 2018 - 2030
Table 44 Libya underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 45 Libya underground gas storage market estimates and forecasts, by application, 2018 - 2030
Table 46 UAE underground gas storage market estimates and forecasts, by product, 2018 - 2030
Table 47 UAE underground gas storage market estimates and forecasts, by application, 2018 - 2030
LIST OF FIGURES

Fig. 1 Underground Gas Storage Market Segmentation
Fig. 2 Information procurement
Fig. 3 Primary research pattern
Fig. 4 Primary research process
Fig. 5 Primary research approaches
Fig. 6 Market Snapshot
Fig. 7 Segment Snapshot
Fig. 8 Competitive Landscape Snapshot
Fig. 9 Underground gas storage market - Penetration & growth prospect mapping
Fig. 10 Underground gas storage market - Industry value chain analysis
Fig. 11 Market driver impact analysis
Fig. 12 Market restraint impact analysis
Fig. 13 Underground Gas Storage Market Analysis - Porter’s
Fig. 14 Underground Gas Storage Market Analysis - PESTEL analysis
Fig. 15 Underground Gas Storage Market: Product Movement Analysis, 2022 & 2030 (Million cu m)
Fig. 16 Underground Gas Storage Market: Type Movement Analysis, 2022 & 2030 (Million cu m)
Fig. 17 Global Underground Gas Storage Market: Regional Movement Analysis, 2022 & 2030 (Million cu m)


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