The Global Natural Gas Storage Market Report is segmented by Type (Underground Storage and Above-Ground Storage) and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa)

Note: Sample data provided. ・ These data identify and provide detailed information on underground natural gas storage in the United States as of December 2022. The attribute data for this point dataset come from EIA’s U.S. field level storage data, which is sourced from U.S. Energy Information Administration, Form EIA-191, Monthly Underground Gas Storage Report. It includes both active and inactive natural gas storage fields. EIA-191 collects information on working and base gas in reservoirs, injections, withdrawals, and location of reservoirs from operators of all underground natural gas storage fields on a monthly basis. The facility location data represent the approximate location based on research of publicly available information from sources such as Federal agencies, company websites, and satellite images on public websites.

Natural Gas Storage Market Outlook

As per our latest research, the global natural gas storage market size reached USD 12.8 billion in 2024, driven by increasing demand for reliable energy supplies and the need for energy security across key economies. The market is expected to grow at a robust CAGR of 4.9% during the forecast period, reaching USD 19.9 billion by 2033. This growth is underpinned by the expansion of gas-fired power generation, rising consumption from residential and industrial sectors, and ongoing investments in infrastructure modernization. The market’s upward trajectory is further bolstered by the transition toward cleaner fuels and the integration of renewables, which elevate the importance of flexible natural gas storage solutions.

One of the primary growth factors for the natural gas storage market is the increased volatility in energy demand and supply, particularly in regions experiencing seasonal fluctuations. The ability to store natural gas during periods of low demand and release it during peak periods ensures a stable and reliable supply to end-users. This balancing function is critical for grid stability, especially as the share of intermittent renewable energy sources grows. Furthermore, geopolitical concerns and disruptions in gas supply chains have led governments and energy companies to prioritize strategic gas storage, further propelling market expansion. The flexibility offered by advanced storage facilities, such as salt caverns and LNG tanks, makes them indispensable assets in the modern energy landscape.

Another significant driver is the ongoing decarbonization and energy transition efforts undertaken by both developed and emerging economies. As countries set ambitious targets for reducing greenhouse gas emissions, natural gas is increasingly viewed as a transitional fuel, offering a cleaner alternative to coal and oil. The integration of renewable energy sources, such as wind and solar, has heightened the need for flexible backup options, with natural gas storage playing a pivotal role. Investments in upgrading aging storage infrastructure and the development of new, technologically advanced facilities are further stimulating market growth. Additionally, regulatory support and favorable policies aimed at enhancing energy security are attracting substantial capital inflows into this sector.

Technological advancements in storage facility design and operational efficiency are also shaping the trajectory of the natural gas storage market. Innovations in monitoring, automation, and safety systems are reducing operational risks and costs, making storage investments more attractive. The adoption of digital technologies, such as IoT-enabled sensors and predictive analytics, is optimizing storage operations and enabling better demand forecasting. These advancements not only improve reliability but also enhance the overall economic viability of storage projects. As the market matures, the focus is shifting toward integrating storage solutions with broader energy management systems, further amplifying their value proposition.

From a regional perspective, North America continues to dominate the natural gas storage market, accounting for the largest share in 2024, followed closely by Europe and Asia Pacific. The extensive network of underground storage facilities in the United States and Canada, coupled with robust regulatory frameworks, ensures a high degree of market maturity. In Europe, the ongoing energy transition and concerns over supply security, particularly in light of geopolitical tensions, are driving investments in both new and existing storage facilities. Meanwhile, rapid industrialization and urbanization in Asia Pacific are fueling demand for flexible energy solutions, positioning the region as a key growth engine for the global market. Latin America and the Middle East & Africa, though smaller in market size, are expected to witness steady growth due to increasing energy demand and infrastructure development.

Storage Type Analysis

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The United States natural gas storage market is projected to grow at a CAGR of 3.40% during the forecast period of 2025-2034. The rising demand for natural gas in the country is aiding the market.

Working gas held in storage facilities in the United States increased by 53 billion cubic feet in the week ending July 4 of 2025 . This dataset provides the latest reported value for - United States Natural Gas Stocks Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

The size of the North America Natural Gas Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 5.00% during the forecast period. The North American natural gas market is exhibiting dynamic growth, not only owing to high domestic production coupled with rising consumption but also a growing trend toward cleaner sources of energy. Today, the United States is the world's largest producer of natural gas, largely because of the breakthrough in shale extraction technologies that have opened up vast reserves. This has resulted in the United States becoming the world's largest liquefied natural gas exporter. Most particularly, it makes use of incredibly high demand in markets such as Asia and Europe. Canada has considerable natural gas reserves, pipelines, and other infrastructure, supporting both the export of gas to the U.S. and international markets, besides providing domestic energy supply. ALCANICA: Canada is also focusing on the development of LNG export facilities to meet growing demand worldwide. As environmental concerns go up, natural gas becomes a bridge fuel-a source to help in the process of moving away from coal and supporting renewable integration. The issues affecting the market here include price volatility, regulatory barriers, and increased competition due to renewable energy. This should continue to be accompanied by growth in North America's natural gas market, as production capacity is strong, and investments being made in infrastructure are supported within a shifting energy mix that increasingly is suited for cleaner fuels. Recent developments include: In July 2022, Sempra Infrastructure signed an agreement with Mexico's Federal Electricity Commission to advance the joint development of critical energy infrastructure projects in Mexico, including the rerouting of the Guaymas-El Oro pipeline in Sonora, the proposed Vista Pacífico LNG project in Topolobampo, Sinaloa, and the potential development of a liquefied natural gas (LNG) terminal in Salina Cruz, Oaxaca.. Key drivers for this market are: 4., Growing Demand for Renewable Energy4.; Upcoming Investments in the Energy Sector and Supportive Renewable Energy Policies. Potential restraints include: 4., High Initial Investment Cost and Long Investment Return Period on Projects. Notable trends are: Power generation to Dominate the Market.

Global Natural Gas Storage Market is anticipated to experience remarkable expansion, with a projected Compound Annual Growth Rate (CAGR) of 5.67% from 2025 to 2033. According to the market analysis, the market size is forecasted to reach USD 14.02 Billion by the end of 2033, up from USD 8.54 Billion in 2024.

The Global Natural Gas Storage market size to cross USD 14.02 Billion by 2033. [https://e

Snapshot img { margin: 10px !important; } The global natural gas market has the potential to grow by USD 137.51 billion during 2020-2024, and the market’s growth momentum will accelerate throughout the forecast period because of the steady increase in year-over-year growth.

This report provides a detailed analysis of the market by resource type (conventional and unconventional) and geography (APAC, Europe, MEA, North America, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including BP Plc, Chevron Corp., ConocoPhillips Co., Exxon Mobil Corp., PetroChina Co. Ltd., PJSC Gazprom, Royal Dutch Shell Plc, Saudi Arabian Oil Co., Suncor Energy Inc., and TOTAL SA.

Market Overview

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Market Competitive Analysis

The natural gas market is currently highly fragmented, and the degree of fragmentation will remain the same during the forecast period. Vendors are focusing on unconventional exploration and production activities to increase revenue generation. BP Plc, Chevron Corp., ConocoPhillips Co., and Exxon Mobil Corp. are some of the major market participants. Although the investments in upstream projects will offer immense growth opportunities, the environmental concerns related to drilling will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

To help clients improve their market positions, this natural gas market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this natural gas market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.

This report provides information on the production, sustainability, and prospects of several leading natural gas companies, including:

BP Plc
Chevron Corp.
ConocoPhillips Co.
Exxon Mobil Corp.
PetroChina Co. Ltd.
PJSC Gazprom
Royal Dutch Shell Plc
Saudi Arabian Oil Co.
Suncor Energy Inc.
TOTAL SA

Natural Gas Market: Segmentation by Region

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North America was the largest market for natural gas in 2019, and the region will continue to offer maximum growth opportunities to vendors. The natural gas production output in North America has increased significantly in recent years owing to unconventional exploration and production activities, such as drilling, in shale reserves in the region.

Over 36% of the market’s growth will originate from North America during the forecast period. The growing number of onshore and offshore natural gas projects and rising investments and initiatives undertaken by various governments will contribute to the natural gas market size growth in the region. The US and Canada are the key markets for natural gas in North America. Market growth in this region will be faster than the growth of the market in other geographies.

Natural Gas Market: Segmentation by Resource Type

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Oil and natural gas production from conventional resources hold a significant share in the oil and gas industry. The availability of conventional resources of natural gas is high in natural gas-producing countries such as Russia, Iran, Qatar, and China. The rising demand for natural gas and increasing investments in the upstream sector are driving the growth of the global natural gas market by the conventional segment.

However, market growth by the conventional segment will be slower than the growth of the market by the unconventional segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the natural gas market size.

Natural Gas Market: Key Drivers and Trends

The growing population and industrial development have been increasing the demand for energy across the world. Therefore, many countries are exploring untapped oil and gas resources with the help of technological advances in the oil and gas industry. Moreover, oil and gas operators are increasingly investing in mature oil and gas fields to overcome the issue of declining conventional oilfields and maximize their revenue. Such increasing investments in the upstream oil and gas sector across the world

This dataset provides national location information for publicly available natural gas geochemistry data reported in mol%. The data were collected from the U.S. Geological Survey (USGS) Energy Geochemistry Database (EGDB), Bureau of Land Management (BLM) technical notes, and reacquired Bureau of Mines technical reports. This dataset represents an aggregate of multiple datasets in one unified system with a number of attributes for use in resource assessment.

Natural gas rose to 3.36 USD/MMBtu on July 11, 2025, up 0.58% from the previous day. Over the past month, Natural gas's price has fallen 3.89%, but it is still 44.10% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Natural gas - values, historical data, forecasts and news - updated on July of 2025.

The report covers Europe Natural Gas Market Analysis and it is segmented by Sector (Upstream, Midstream, and Downstream), Location of Deployment (Onshore, Offshore), and Geography (United Kingdom, Norway, Netherlands, Germany, and the Rest of Europe). The report offers the market size and forecasts for Europe's natural gas market in revenue (USD Billion) for all the above segments.

Natural gas liquid (NGL) production proportionally grows with natural gas extraction. The popularity of advanced extraction techniques like hydraulic fracturing has bolstered shale gas production, giving processors a steady revenue flow. The pandemic weakened industrial production and residential and commercial construction, leading to an oversupply of NGLs and causing prices to plummet. This quickly reversed as the economy reopened and natural gas prices surged, spiking production. This growth lasted until 2024, when prices eventually settled down as supply shortages slowly began to wane. Even so, industry-wide revenue swelled at a CAGR of 3.0% through 2024, reaching $94.5 billion, including a modest 3.1% uptick in 2024 alone. Profitability also swelled as processors passed on price hikes to consumers. The ongoing Russia-Ukraine conflict has created NGL supply woes in Europe as Russia has reduced its exports. These supply woes have opened the door for domestic NGL processors to take advantage of the favorable price environment in Europe and strengthen exports. This uptick in demand mitigated the appreciation of the US dollar, which made domestic NGLs more expensive. Through 2029, revenue is set to contract as natural gas prices normalize, following highs over the current period. Nonetheless, expanding industrial production and natural gas extraction will provide processors with a steady stream of business. Even so, with the future of hydraulic fracturing in the air, future regulations can severely hinder production. As European countries look to reduce their dependence on Russian NGLs, exports will remain strong. NGL processors may face headwinds following the passing of the Inflation Reduction Act as it provides tax incentives for households purchasing electric stoves and fees on methane emissions. Overall, revenue is set to dip at a CAGR of 0.9% through the end of 2029 to total $90.3 billion.

The global natural gas fuel market is experiencing robust growth, driven by increasing energy demand, particularly in developing economies, and a transition towards cleaner energy sources compared to coal. The market, estimated at $500 billion in 2025, is projected to exhibit a Compound Annual Growth Rate (CAGR) of 4% from 2025 to 2033, reaching approximately $750 billion by 2033. This growth is fueled by several factors, including the expansion of industrial applications, rising household consumption in emerging markets, and government incentives promoting natural gas as a transitional fuel in the energy mix. The liquefied natural gas (LNG) segment is expected to dominate the market due to its ease of transportation and storage, facilitating global trade and supply chain efficiency. North America and Europe currently hold significant market shares, but rapid industrialization and urbanization in Asia-Pacific are expected to drive substantial growth in this region over the forecast period. However, market growth faces certain restraints. Price volatility, heavily influenced by geopolitical factors and seasonal demand fluctuations, remains a considerable challenge. Concerns about methane emissions, a potent greenhouse gas, are also pushing for stricter regulations and potentially impacting market growth. Furthermore, competition from renewable energy sources like solar and wind power is increasing, although natural gas still plays a crucial role in providing baseload power and grid stability during intermittent renewable energy generation. Market segmentation by application (family, industrial, other) and type (LNG, Gaseous Natural Gas) allows for a granular understanding of specific market dynamics and facilitates targeted investment and strategic planning by stakeholders. Leading companies like ExxonMobil, Chevron, Shell, and others are strategically positioning themselves to capitalize on market opportunities while addressing environmental concerns. The continued expansion of pipeline infrastructure and LNG import/export terminals will be vital for facilitating efficient distribution and sustaining future growth.

Key information about United States Natural Gas: Consumption

• United States Natural Gas: Consumption was reported at 85.768 Cub ft/Day bn in Dec 2023
• This records an increase from the previous number of 85.102 Cub ft/Day bn for Dec 2022
• US Natural Gas: Consumption data is updated yearly, averaging 57.451 Cub ft/Day bn from Dec 1965 to 2023, with 59 observations
• The data reached an all-time high of 85.768 Cub ft/Day bn in 2023 and a record low of 40.241 Cub ft/Day bn in 1965
• US Natural Gas: Consumption data remains active status in CEIC and is reported by BP PLC
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.BP.NS: Natural Gas: Consumption

The market is segmented By Source (Conventional gas, and Unconventional gas), By Application (Automotive, Power generation, Household, and Industrial fuel), and Country (Canada, USA, and Mexico)

Natural gas producers are facing turbulent times. Europe has traditionally relied on Russia and Norway as internal sources of natural gas, while countries such as the US, Qatar and Algeria are major sources of imports (although accounting for a much smaller share of overall consumption). Russia’s invasion of Ukraine has shaken up Europe’s natural gas supply structure, with European governments making efforts to reduce their dependence on Russian gas supplies. Revenue is forecast to swell at a compound annual rate of 16.2% to €113.9 billion over the five years through 2025. Revenue expanded in 2021 and 2022 as a sharp hike in natural gas prices and a post-pandemic rise in demand drove an increase in exploration and production activity. Russia’s invasion of Ukraine led to a spike in natural gas prices, with the impacts of reduced demand for gas and a decrease in Russian gas production outweighed by soaring wholesale prices and heightened demand for other natural gas reserves, spurring a jump in revenue. An ongoing reduction in demand for natural gas and easing prices caused revenue to dip in 2023 and 2024. In 2025, revenue is slated to bounce back by 53.3% owing to geopolitical uncertainties, including trade wars and fresh sanctions on Russia, buoying natural gas prices. Revenue is forecast to rise at a compound annual rate of 2.3% over the five years through 2030 to just under €128 billion. The gas market will continue to be shaped by geopolitical tensions into the medium term, with the International Energy Agency expecting natural gas prices to remain high until 2025 as countries continue to shift their supply structure. Following this, natural gas demand and prices are set to fall as Europe continues to expand its renewables capacity.

Natural gas distributors have benefited mainly from the enormous outburst of natural gas availability in the United States since the early 2000s because of the growing prevalence of advanced drilling techniques employed by upstream producers in the Oil Drilling and Gas Extraction industry. Natural gas is used to generate electricity, produce useful thermal output and as an industrial feedstock. Many end users, mainly electric power plants, have been pressed to transition to using this energy source at the expense of others because of its increased affordability and comparatively lower environmental impact. Despite the rising popularity of renewable energy like wind and solar, natural gas already has years of historical infrastructure built, making the supply chain much easier to navigate, leading the country to rely on it for most of its energy needs. Revenue is set to swell at a CAGR of 4.6% through the end of 2025 to $199.3 billion, including a 9.5% dip in 2025, as gas prices will rebound. Despite revenue growing swiftly as the need for gas overwhelmingly expanded during the current period, distributors have also endured wild swings in revenue because of highly volatile market conditions. For example, the price of natural gas fell in 2020 amid shutdowns as excess supply was built. Prices then spiked in 2021 and 2022 before falling again in 2023 as the industry stabilized following economic turmoil. Despite all this, the residential sector has been a saving grace, as prices have continued to climb yearly despite outside factors. Even so, overall profit has been pushed down as distributors lowered their selling prices. Natural gas production will climb marginally, while infrastructure investments will boost pipeline and export capacity. Thanks to global tensions, total domestic consumption is set to strengthen. Even so, consumption may be constrained growth as some markets slowly switch to renewable energy, constraining growth. Prices are also set to remain stagnant, which may prevent significant revenue spikes. Overall, revenue is set to climb at a CAGR of 0.7% through the end of 2030 to $205.9 billion.

The global underground natural gas storage market is projected to grow from XXX million in 2022 to XXX million by 2030, at a CAGR of XX% during the forecast period. The market growth is primarily driven by increasing demand for natural gas, stringent environmental regulations, and government initiatives promoting the use of natural gas. Moreover, the growing need for energy security and the need for reliable and cost-effective energy storage solutions are expected to contribute to the market growth. Key trends shaping the market include the development of advanced technologies for underground gas storage, such as the use of salt caverns and depleted oil and gas fields. The market is also witnessing the emergence of new players, particularly in developing countries, as well as strategic partnerships and collaborations among industry participants. The Asia Pacific region is expected to be the fastest-growing market, driven by increasing demand for natural gas in countries such as China, India, and Japan.

Key information about Turkey Natural Gas: Consumption

• Turkey Natural Gas: Consumption was reported at 4.686 Cub ft/Day bn in Dec 2023
• This records a decrease from the previous number of 4.958 Cub ft/Day bn for Dec 2022
• Turkey Natural Gas: Consumption data is updated yearly, averaging 1.775 Cub ft/Day bn from Dec 1982 to 2023, with 42 observations
• The data reached an all-time high of 5.545 Cub ft/Day bn in 2021 and a record low of 0.003 Cub ft/Day bn in 1982
• Turkey Natural Gas: Consumption data remains active status in CEIC and is reported by BP PLC
• The data is categorized under World Trend Plus’s Association: Energy Sector – Table RB.BP.NS: Natural Gas: Consumption

The India Natural Gas Market Report is Segment by Type (Compressed Natural Gas, Piped Natural Gas, and Liquefied Natural Gas ), Source (Domestic Production – Onshore, Domestic Production – Offshore, and LNG Imports), and End-Use Sector (Fertilizer Production, City Gas Distribution, Transportation, Petrochemical Feedstock, and Others). The Market Sizes and Forecasts are Provided in Terms of Volume (MMSCM).