Natural Gas Storage Market Growth Forecast at 6% CAGR to 2019

DALLAS, April 27, 2015 /PRNewswire/ --

According to Global Natural Gas Storage Market 2015-2019 research report, growing concern about energy security is a major factor driving natural gas storage market that is forecast to grow at 6.02% CAGR during 2014-2019.

Complete research titled Global Natural Gas Storage Market 2015-2019 spread across 84 pages, offering 5 key vendor analysis details and 37 exhibits is available at http://www.rnrmarketresearch.com/global-natural-gas-storage-market-2015-2019-market-report.html .

Many governments worldwide procure and store natural gas to ensure a stable energy supply in their countries, and to reduce dependency on other conventional fuels. According to this report on natural gas storage market, the demand for natural gas is increasing worldwide because of growing populations, economic growth in various geographies and rapid industrialization and urbanization. It draws attention towards liquefied natural gas (LNG) exports that are increasing to fulfill growing energy demand. In countries like Japan and India, domestic gas production is insufficient to meet rising energy demand. Therefore, such countries are dependent on LNG from major gas-producing nations to meet their energy needs. LNG is also used for the storage of natural gas during the liquefaction and regasification process and hence, growth in the LNG market is expected to propel the Global Natural Gas Storage Market during the forecast period.

The purpose of natural gas 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. This 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.

Leading countries discussed in this research include Canada, China, Germany and the US. Companies like Centrica, GDF SUEZ, Niska Gas Storage Partners, Samsung Heavy Industries, Spectra Energy, Chiyoda, E-on, Foster Wheeler, Technip and Worley Parsons are also mentioned in this report. Order a copy of this 2015 research on natural gas storage market at http://www.rnrmarketresearch.com/contacts/purchase?rname=336431 .

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. 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.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. 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.

Another report titled Global Compressed Air Energy Storage Market 2015-2019 forecasts the global compressed air energy storage market to grow at 25.5% CAGR over the period 2014-2019. Compressed air energy storage has been the most prevalent form of energy storage after pumped-hydro technology. Compressed air energy storage is preferred because of its higher efficiency, greater reliability, and economic feasibility when compared to other energy storage technologies. It is recommended for large-scale energy storage and for meeting the growing energy needs. Companies like Dresser-Rand Group, General Compression, Hydrostor, LightSail Energy, SustainX, ADELE, Apex CAES, Bright Energy Storage Technologies, Gaelectric and Pacific Gas and Electric Company are discussed in this research.

Explore more reports on the energy storage market at http://www.rnrmarketresearch.com/reports/energy-power/energy/energy-storage .

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