Global Natural Gas Storage
Market Report
2025
The Natural Gas Storage market size is USD 9.8 billion in 2024, globally. The Natural Gas Storage market will show the strongest growth with the compound annual growth rate (CAGR) of 4.3% from 2024 to 2031. This growth can be because of the seasonal demand fluctuations.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Natural Gas Storage market size will be USD 9.8 billion in 2024 and will expand at the compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.
2021 | 2025 | 2033 | CAGR | |
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Global Natural Gas Storage Market Sales Revenue | $ 7365.24 Million | $ 8854 Million | $ 12795.1 Million | 4.71% |
North America Natural Gas Storage Market Sales Revenue | $ 2725.14 Million | $ 3178.59 Million | $ 4311.96 Million | 3.886% |
United States Natural Gas Storage Market Sales Revenue | $ 2125.61 Million | $ 2450.69 Million | $ 3238.28 Million | 3.545% |
Canada Natural Gas Storage Market Sales Revenue | $ 356.993 Million | $ 438.645 Million | $ 655.418 Million | 5.148% |
Mexico Natural Gas Storage Market Sales Revenue | $ 242.537 Million | $ 289.251 Million | $ 418.26 Million | 4.718% |
Europe Natural Gas Storage Market Sales Revenue | $ 2084.36 Million | $ 2470.27 Million | $ 3454.69 Million | 4.282% |
United Kingdom Natural Gas Storage Market Sales Revenue | $ 346.004 Million | $ 429.826 Million | $ 663.3 Million | 5.573% |
Germany Natural Gas Storage Market Sales Revenue | $ 460.644 Million | $ 563.221 Million | $ 836.034 Million | 5.061% |
France Natural Gas Storage Market Sales Revenue | $ 191.761 Million | $ 227.264 Million | $ 321.286 Million | 4.423% |
Italy Natural Gas Storage Market Sales Revenue | $ 177.171 Million | $ 212.443 Million | $ 307.467 Million | 4.73% |
Russia Natural Gas Storage Market Sales Revenue | $ 312.654 Million | $ 358.189 Million | $ 462.928 Million | 3.258% |
Spain Natural Gas Storage Market Sales Revenue | $ 143.821 Million | $ 165.508 Million | $ 217.645 Million | 3.482% |
Sweden Natural Gas Storage Market Sales Revenue | $ 97.965 Million | $ 111.162 Million | $ 149.588 Million | 3.781% |
Denmark Natural Gas Storage Market Sales Revenue | $ 118.809 Million | $ 135.865 Million | $ 169.28 Million | 2.787% |
Switzerland Natural Gas Storage Market Sales Revenue | $ 87.543 Million | $ 96.34 Million | $ 117.459 Million | 2.509% |
Luxembourg Natural Gas Storage Market Sales Revenue | $ 45.856 Million | $ 51.876 Million | $ 62.184 Million | 2.292% |
Rest of Europe Natural Gas Storage Market Sales Revenue | $ 102.134 Million | $ 118.573 Million | $ 147.515 Million | 2.768% |
Asia Pacific Natural Gas Storage Market Sales Revenue | $ 1495.14 Million | $ 1912.46 Million | $ 3096.42 Million | 6.208% |
China Natural Gas Storage Market Sales Revenue | $ 596.562 Million | $ 770.723 Million | $ 1250.95 Million | 6.241% |
Japan Natural Gas Storage Market Sales Revenue | $ 246.699 Million | $ 304.082 Million | $ 461.367 Million | 5.349% |
India Natural Gas Storage Market Sales Revenue | $ 183.903 Million | $ 254.358 Million | $ 479.945 Million | 8.26% |
South Korea Natural Gas Storage Market Sales Revenue | $ 148.019 Million | $ 183.597 Million | $ 281.774 Million | 5.501% |
Australia Natural Gas Storage Market Sales Revenue | $ 88.213 Million | $ 118.955 Million | $ 210.557 Million | 7.398% |
Singapore Natural Gas Storage Market Sales Revenue | $ 53.825 Million | $ 65.024 Million | $ 95.989 Million | 4.989% |
South East Asia Natural Gas Storage Market Sales Revenue | $ 70.272 Million | $ 87.973 Million | $ 133.146 Million | 5.317% |
Taiwan Natural Gas Storage Market Sales Revenue | $ 49.34 Million | $ 59.286 Million | $ 89.796 Million | 5.327% |
Rest of APAC Natural Gas Storage Market Sales Revenue | $ 58.311 Million | $ 68.466 Million | $ 92.893 Million | 3.887% |
South America Natural Gas Storage Market Sales Revenue | $ 508.202 Million | $ 619.78 Million | $ 921.25 Million | 5.079% |
Brazil Natural Gas Storage Market Sales Revenue | $ 196.674 Million | $ 244.813 Million | $ 376.791 Million | 5.538% |
Argentina Natural Gas Storage Market Sales Revenue | $ 91.476 Million | $ 114.659 Million | $ 178.722 Million | 5.705% |
Colombia Natural Gas Storage Market Sales Revenue | $ 50.82 Million | $ 60.119 Million | $ 84.755 Million | 4.387% |
Peru Natural Gas Storage Market Sales Revenue | $ 40.656 Million | $ 48.963 Million | $ 70.015 Million | 4.572% |
Chile Natural Gas Storage Market Sales Revenue | $ 37.607 Million | $ 45.864 Million | $ 67.251 Million | 4.901% |
Rest of South America Natural Gas Storage Market Sales Revenue | $ 90.968 Million | $ 105.363 Million | $ 143.715 Million | 3.957% |
Middle East Natural Gas Storage Market Sales Revenue | $ 331.436 Million | $ 389.576 Million | $ 550.191 Million | 4.41% |
Saudi Arabia Natural Gas Storage Market Sales Revenue | $ 131.249 Million | $ 155.83 Million | $ 225.028 Million | 4.7% |
Turkey Natural Gas Storage Market Sales Revenue | $ 73.247 Million | $ 85.707 Million | $ 119.391 Million | 4.23% |
UAE Natural Gas Storage Market Sales Revenue | $ 43.75 Million | $ 54.151 Million | $ 84.729 Million | 5.756% |
Egypt Natural Gas Storage Market Sales Revenue | $ 36.458 Million | $ 42.074 Million | $ 56.67 Million | 3.793% |
Qatar Natural Gas Storage Market Sales Revenue | $ 21.875 Million | $ 24.154 Million | $ 29.71 Million | 2.622% |
Rest of Middle East Natural Gas Storage Market Sales Revenue | $ 24.858 Million | $ 27.66 Million | $ 34.662 Million | 2.861% |
Africa Natural Gas Storage Market Sales Revenue | $ 220.957 Million | $ 283.328 Million | $ 460.625 Million | 6.263% |
Nigeria Natural Gas Storage Market Sales Revenue | $ 58.112 Million | $ 76.499 Million | $ 130.817 Million | 6.937% |
South Africa Natural Gas Storage Market Sales Revenue | $ 87.499 Million | $ 109.648 Million | $ 169.049 Million | 5.561% |
Rest of Africa Natural Gas Storage Market Sales Revenue | $ 75.346 Million | $ 97.182 Million | $ 160.758 Million | 6.494% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Underground Storage |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Report scope is customizable as we have a huge database of Natural Gas Storage industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Natural Gas Storage Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The Natural Gas Storage Market plays a critical role in ensuring energy security and stability by providing flexibility in supply and demand dynamics. It encompasses facilities and technologies designed to store natural gas throughout the period of low demand and release it during peak consumption times, thereby balancing fluctuations in supply and maintaining grid reliability. Key storage methods include underground reservoirs, depleted gas fields, and liquefied natural gas (LNG) facilities, each offering unique advantages in terms of capacity, cost-effectiveness, and operational flexibility; driven by increasing global energy consumption and the transition towards cleaner fuels, the market for natural gas storage continues to evolve. However, challenges such as infrastructure limitations, regulatory complexities, and environmental considerations pose significant hurdles to market growth. Despite these challenges, technological advancements in storage techniques and strategic investments in infrastructure are expected to bolster market expansion, supporting the resilience and efficiency of natural gas supply chains worldwide.
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In May 2023, Enbridge, Inc. acquired Aitken Creek Natural Gas Storage from FortisBC Holdings to meet the increasing demand for West Coast LNG exports. (Source:https://www.enbridge.com/media-center/news/details?id=123763&lang=en)
Top Companies Market Share in Natural Gas Storage Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America dominated the market in 2024. It accounted for around 40% of global revenue due to its extensive network of underground storage facilities, particularly in the United States and Canada. These facilities leverage geological formations and strategic locations to ensure ample storage capacity, supporting reliable supply and demand management across the continent.
Asia-Pacific stands out as the fastest-growing region in the Natural Gas Storage market due to increasing energy demand, industrialization, and urbanization. Governments in countries like China, India, and Japan are investing heavily in expanding storage infrastructure to enhance energy security, accommodate fluctuating demand, and support economic growth.
The current report Scope analyzes Natural Gas Storage Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Natural Gas Storage Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Natural Gas Storage Industry growth. Natural Gas Storage market has been segmented with the help of its Type, Underground Storage Application, and others. Natural Gas Storage market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to cognitive market research, underground is the dominant category due to its significant advantages in capacity, safety, and cost-effectiveness. Utilizing geological formations such as depleted oil and gas reservoirs, salt caverns, and aquifers, underground storage offers large-scale storage capacities capable of meeting seasonal and peak demand fluctuations effectively. These facilities provide secure containment, minimizing risks associated with leakage and environmental impact. Moreover, their strategic locations near major consumption centers enhance distribution efficiency. As global energy demands rise and renewable integration grows underground natural gas storage remains pivotal in ensuring reliable and resilient energy supply systems. .
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This report provides a comprehensive forecast of revenue growth for the Natural Gas Storage industry at the global, regional, and country levels, from 2019 to 2031. It includes a detailed analysis of the latest industry trends and identifies key opportunities for each Underground Storage segment of machinery and equipment. The analysis covers demand across various end-use industries, such as automotive, HVAC, construction, energy, and others. By examining these application segments, the report helps stakeholders understand the factors driving growth in specific sectors and identify high-potential areas for investment and innovation. To perform a thorough Underground Storage segment analysis, the report considers several key factors. These include industry-specific demand patterns, technological advancements in machinery, and regional growth trends that influence specific applications. Additional factors such as regulatory requirements, supply chain dynamics, end-user preferences, and market competition are also examined to assess how they impact the adoption and performance of machinery in different sectors. The analysis further includes confidential insights like value chain evaluation, patent trends, and company performance metrics (through a Company Evaluation Quadrant), providing a complete view of each application’s evolution within the machinery and equipment market. (Report will provide you with customized data, and detailed insight on purchase of paid version of the report)
Some of the key Underground Storage of Natural Gas Storage are:
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Research Associate at Cognitive Market Research
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
I am Aarti Bagekari, worked as a research associate with strong passion for transforming complex information into strategic insights. My strong analytical skills, coupled with a deep understanding of market dynamics and consumer behavior, empower me to identify hidden opportunities and proactively mitigate risks for clients. As a part of team, I possess a skills in data analysis, segmentation, competitive landscape.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Natural Gas Storage Market is witnessing significant growth in the near future.
In 2023, the Underground segment accounted for noticeable share of global Natural Gas Storage Market and is projected to experience significant growth in the near future.
The Depleted Gas Reservoir segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Engie SA , TransCanada and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Underground, Aboveground, Floating |
Underground Storage | Depleted Gas Reservoir, Aquifer Reservoir, Salt Caverns |
Application | Residential, Commercial, Others |
List of Competitors | Engie SA, Enbridge Inc, TransCanada, Sempra Energy, Trafigura, WorleyParsons, DTE Energy, Centrica, Technip, Chiyoda Corporation, Spectra Energy, Amec Foster Wheeler, Gazprom, NAFTA A.S |
This chapter will help you gain GLOBAL Market Analysis of Natural Gas Storage. Further deep in this chapter, you will be able to review Global Natural Gas Storage Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Natural Gas Storage. Further deep in this chapter, you will be able to review North America Natural Gas Storage Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Natural Gas Storage. Further deep in this chapter, you will be able to review Europe Natural Gas Storage Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Natural Gas Storage. Further deep in this chapter, you will be able to review Asia Pacific Natural Gas Storage Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Natural Gas Storage. Further deep in this chapter, you will be able to review South America Natural Gas Storage Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Natural Gas Storage. Further deep in this chapter, you will be able to review Middle East Natural Gas Storage Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Natural Gas Storage. Further deep in this chapter, you will be able to review Middle East Natural Gas Storage Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Natural Gas Storage. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Underground Storage Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Natural Gas Storage market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 14 Research Methodology and Sources
Why Underground have a significant impact on Natural Gas Storage market? |
What are the key factors affecting the Underground and Aboveground of Natural Gas Storage Market? |
What is the CAGR/Growth Rate of Depleted Gas Reservoir during the forecast period? |
By type, which segment accounted for largest share of the global Natural Gas Storage Market? |
Which region is expected to dominate the global Natural Gas Storage Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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