In the second half of 2023, the average price for gas with all taxes and levies included for household consumers in the EU was 11.25 euro cents per kilowatt-hour. Lithuania had the highest prices of the Central and Eastern European countries, with 14.54 euro cents per kilowatt-hour in the second half of 2023.

In 2024, after three years of growth, there was decline in the East European gas supply meter market, when its value decreased by -2.6% to $555M. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $579M. From 2017 to 2024, the growth of the market remained at a somewhat lower figure.

Czechia has recorded the highest increase in wholesale gas prices among Central and Eastern European countries. Prices in this country increased by 565 percent in October 2021 compared to 2019. In contrast, Romania recorded the highest increase in gas prices for households (+103 percent) during the same period.

The size of the Europe Oil and Gas Storage Tank Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 3.00% during the forecast period. The oil and gas storage tank market is vital to energy security and proper utilization of hydrocarbon resources in Europe. The market encompasses a large number of crude oil, refined petroleum products, and natural gas storage facilities that ensure strategic reserves and operational demand throughout the region. Adequate storage infrastructure is indispensable in Europe, which relies heavily on imports of oil and gas. Stabilizing supply is necessary to manage price volatility. In very recent times, there has been a swing that has been very much towards the sophisticated end of storage technologies, more towards the ultra-modern, sophisticated kind of tank farms with advanced monitoring systems and safety features. Market pressure is mounting due to increasing regulatory pressures on minimizing environmental impact and raising safety standards, which then results in investments in environmentally friendly storage solutions. Geopolitical factors, notably tensions in Eastern Europe that are now tied to the energy crisis, have dramatically increased the strategic value of storage capacities. Nations are actively investing in SPR development as well as in the infrastructure to offer energy resiliency. However, while challenges are observed in the form of fluctuating demand, transition toward renewable energy, and an imperative to modernize, this European oil and gas storage tank market is poised for growth in a pretty relative manner. Investments in infrastructure, technological advancements, and a focus on sustainability will most likely determine the future of this most essential sector of the European energy landscape Recent developments include: September 2022: Germany's natural gas storage facilities reached more than 85%, displaying steady progress despite a drastic reduction in deliveries from Russia amid the war in Ukraine. The government's target to reach 85% storage capacity by October was achieved at the beginning of September., July 2022: Germany and Austria signed a deal to accelerate filling gas storage facilities. With the signing of a bilateral solidarity agreement, the two countries agreed to cooperate on the use of liquefied natural gas (LNG) infrastructure and storage filling.. 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: Midstream to Witness Significant Growth.

Statistics illustrates consumption, production, prices, and trade of Gas Supply or Production Meters in Eastern Europe from 2007 to 2024.

Get the latest insights on price movement and trend analysis of Gasoline in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Russia accounted for 18.19 percent of the value of natural gas imports into the European Union (EU) from non-EU countries in the first quarter of 2025. The share was higher than in the corresponding period of the previous year, but significantly lower than in 2021. The decrease was due to the Western sanctions on Russia over its invasion of Ukraine and the reduction of gas supplies by Gazprom to Europe. Which EU countries import gas from Russia? In 2023, the EU imported 27 billion cubic meters of natural gas via pipelines from Russia, compared to 140 billion cubic meters in 2021. Among the EU countries, Germany was by far the largest importer of natural gas from Russia. Central and Eastern European (CEE) countries such as Poland, Czechia, and Hungary also ranked in the top 10 before the war in Ukraine given their high dependence on Russian gas. After the onset of the war in 2022, Turkey and China emerged as some of the largest buyers of Russian pipeline gas. The future of natural gas in a climate-neutral Europe Gas continues to be the second-most important primary energy source in the EU, after petroleum-based products. However, to stay within the Paris Agreement’s target of 1.5 degrees Celsius, the EU is actively looking for ways to accelerate the transition to more renewable sources of energy, including the adoption of the European Green Deal and the Commission’s "Fit for 55" proposal and RePowerEU plan. Under these sustainable scenarios, the European gas demand is estimated to fall from 617 billion cubic meters in 2018 to 380 billion cubic meters in 2040.

Get the latest insights on price movement and trend analysis of Natural Gas in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In the fourth quarter of 2023, the price of neon gas in Germany reached 827 USD/MT by December. This report delves into the spot price of neon gas at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed neon gas price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

Get the latest insights on price movement and trend analysis of Liquefied Natural Gas in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The global retail fuel market is a dynamic sector experiencing significant growth, driven by increasing urbanization, rising vehicle ownership, and expanding industrial and commercial activities. While precise market size figures are unavailable, based on industry trends and comparable markets, we can estimate the 2025 market value at approximately $1.5 trillion USD. This substantial market is expected to exhibit a Compound Annual Growth Rate (CAGR) of around 4% from 2025 to 2033, reaching an estimated value of $2.2 trillion USD by 2033. This growth is fueled by factors such as the increasing demand for transportation fuels in developing economies, the expansion of the aviation industry, and the growing use of fuel in power generation and industrial processes. However, the market faces constraints, such as fluctuating crude oil prices, governmental regulations on emissions, and the increasing adoption of alternative energy sources like electric vehicles. Segment-wise analysis reveals diverse growth patterns. Natural gas and high-speed diesel are dominant fuel types, driving a significant portion of the market value. Within applications, power generation, industrial uses, and transportation (including aviation and captive power) are key drivers. Geographic distribution shows significant regional variations. North America and Asia Pacific are currently leading markets due to high vehicle ownership and industrialization. However, emerging economies in regions like the Middle East & Africa and South America are exhibiting rapid growth, presenting substantial future opportunities. Key players in the retail fuel market include national oil companies such as Bangladesh Petroleum Corporation and Petrobangla, as well as international giants like Chevron Corporation. These players are constantly adapting to changing market dynamics, investing in infrastructure and exploring new fuel technologies to maintain their competitiveness. The future of the retail fuel market hinges on successful navigation of environmental concerns, strategic infrastructure development, and the management of volatile energy prices.

The East European liquefied petroleum gas (LPG) market was estimated at $17.3B in 2024, approximately equating the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2024 and is expected to retain growth in the immediate term.

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Underground Gas Storage Market Size 2024-2028

The underground gas storage market size is forecast to increase by USD 10.2 billion at a CAGR of 5.34% between 2023 and 2028.

The market is experiencing significant growth due to increasing energy demand and advancements in drilling techniques, seismic imaging, and reservoir management technologies. These innovations enable the efficient extraction and storage of natural gas, making UGS an essential component of the global energy mix. Hydrogen storage in underground facilities is an emerging trend. 
However, constructing underground storage facilities for gas presents challenges, including high capital costs, complex regulatory requirements, and geological risks. Addressing these challenges requires continued investment in research and development, as well as collaboration between industry stakeholders and regulatory bodies. By overcoming these hurdles, the market is poised to continue its expansion and contribute to a more sustainable energy future.

What will be the Size of the Market During the Forecast Period?

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Underground gas storage has emerged as a vital component of the global energy landscape, providing a stable and secure means of storing large volumes of natural gas for various applications. With an expanding industrialization process and increasing natural gas consumption, the need for underground gas storage facilities has grown significantly. These facilities, which can hold billions of cubic meters of natural gas, are typically constructed in depleted gas reservoirs, salt caverns, and aquifer reservoirs. The technology used in underground gas storage involves injecting natural gas into geologic formations, such as depleted oil and gas fields, salt caverns, and aquifers.
Moreover, the natural gas is stored under high pressure, allowing for efficient inventory management and energy resource backup during periods of high demand, particularly during the winter season. The underground gas storage industry is witnessing several market dynamics, including the transition towards cleaner energy sources and the increasing importance of energy security concerns. Hydrogen, as a potential cleaner energy source, is being explored for use in underground gas storage facilities, providing an opportunity for technology transfer from the oil and gas industry. Moreover, the price volatility of natural gas and the need for stable supply have further emphasized the importance of underground gas storage.
Additionally, groundwater utilization is also a critical consideration in the design and operation of these facilities to minimize environmental impact. Inventory management is a key aspect of underground gas storage, ensuring an adequate supply of natural gas for gas distribution networks and energy consumers. The use of advanced technology and techniques in the storage industry continues to evolve, enabling the efficient and safe storage of large volumes of natural gas. Carbon dioxide (CO2) storage is another application of underground gas storage facilities, providing a means of reducing greenhouse gas emissions and mitigating the environmental impact of fossil fuel reserves. Overall, the market is poised for growth, driven by the need for energy security, stable supply, and the transition towards cleaner energy sources.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Depleted fields
  Aquifer reservoir
  Salt caverns


Product

  Natural gas
  Hydrogen
  Others


Geography

  Europe

    Germany


  North America

    Canada
    US


  APAC



  Middle East and Africa



  South America

By Type Insights

The depleted fields segment is estimated to witness significant growth during the forecast period.

Underground gas storage (UGS) is an essential component of the natural gas infrastructure, utilizing depleted oil and gas reservoirs for confining natural gas post-extraction. The suitability of a depleted field for UGS depends on its geographic and geological characteristics. Proximity to regions of high natural gas consumption facilitates efficient transportation and distribution. Geological factors, such as porosity and permeability, determine the reservoir's capacity to store and release natural gas. Porosity affects the quantity of gas the reservoir can hold, while permeability influences the outward flow rate. Price volatility and the shift towards hydrogen as a cleaner energy source are key challenges for the UGS market. However, UGS plays a crucial role in mitigating price volatility and ensuring energy security. Hydrogen storage in UGS facilities is an emerging trend, offerin

One of the most important challenges for the South East Europe region will be replacing more than 30% of its presently installed fossil fuel generation capacity by the end of 2030, and more than 95% by 2050 if its age structure is considered. This requires a strong policy framework to incentivise new investments in a region currently lacking investors, but also presents an opportunity to shape the electricity sector over the long term according to the broader energy transition strategy of the EU and the Energy Community. The aim of this paper is to assess what type of long-term pathways exist for electricity sector development in the region if they follow the energy transition process of the EU. In this model-based scenario assessment, long term electricity sector futures are explored using a set of interlinked electricity models evaluating the level of renewable energy investment required in the region to reach a deep decarbonization target, assuming emission reduction above 94% by 2050 compared to 1990 in line with the long term market integration and climate policy goals of the EU. It also explores what are the most important system wide impacts of the high deployment of renewable energy concerning generation adequacy and security of supply. Key policy insightsEnergy policies in the South East Europe (SEE) region, both at the national and regional level, should focus on enabling renewable energy integration, as this will be a key component of the future energy mix.EU and Energy Community policies should be incorporated into national energy planning to ensure that SEE countries embark on the energy transition process at an early stage.Stranded costs should be carefully considered in decision-making on new fossil-fuel generation and gas network investment in order to avoid lock-in to carbon intensive technologies.If consistent decarbonization policy prevails, with a significant and persistent CO2 price signal, the role of natural gas remains transitory in the region.The SEE region offers relatively cheap decarbonization options: the power sector can reduce GHG emissions above 94% by 2050 in the modelled scenarios. Energy policies in the South East Europe (SEE) region, both at the national and regional level, should focus on enabling renewable energy integration, as this will be a key component of the future energy mix. EU and Energy Community policies should be incorporated into national energy planning to ensure that SEE countries embark on the energy transition process at an early stage. Stranded costs should be carefully considered in decision-making on new fossil-fuel generation and gas network investment in order to avoid lock-in to carbon intensive technologies. If consistent decarbonization policy prevails, with a significant and persistent CO2 price signal, the role of natural gas remains transitory in the region. The SEE region offers relatively cheap decarbonization options: the power sector can reduce GHG emissions above 94% by 2050 in the modelled scenarios.

Get the latest insights on price movement and trend analysis of Neon Gas in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Slovenia recorded the highest gasoline price increase in the listed Central and Eastern European countries between January and June 2023. On the other hand, the highest decrease in gasoline prices was recorded in Ukraine, more than ** percent.

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Compressed Natural Gas (CNG) Market Size 2025-2029

The compressed natural gas (cng) market size is forecast to increase by USD 32.28 billion, at a CAGR of 9% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing number of CNG-powered vehicles and the expansion of natural gas supply infrastructure. The surge in CNG vehicle adoption is a result of environmental concerns and the need to reduce dependence on traditional fossil fuels. Additionally, the fluctuating global oil and gas prices have made natural gas an attractive alternative fuel source. However, the market faces challenges, including the high initial investment costs for CNG infrastructure and the limited availability of refueling stations in certain regions. Furthermore, the volatility of natural gas prices can impact the profitability of CNG as a fuel option.
Companies seeking to capitalize on the opportunities in this market should focus on expanding their CNG infrastructure and collaborating with vehicle manufacturers to promote the adoption of CNG-powered vehicles. Navigating the challenges will require strategic partnerships and investments in technology to optimize the efficiency and cost-effectiveness of CNG production and distribution.

What will be the Size of the Compressed Natural Gas (CNG) Market during the forecast period?

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The market continues to evolve, with dynamic market patterns unfolding across various sectors. CNG processing technologies are advancing, enabling the conversion of natural gas into a transportable form for diverse applications. CNG trucks are gaining traction in commercial transportation, offering cost savings and energy security. In the public transportation sector, CNG buses are reducing carbon footprints and contributing to clean energy initiatives. CNG taxis are emerging as a sustainable alternative to traditional taxis, while CNG cryogenic storage solutions ensure efficient and safe fuel management. Energy security is a significant driver, with CNG's potential to reduce reliance on traditional fossil fuels and contribute to renewable energy integration.
Innovation is at the forefront, with advancements in CNG fuel efficiency, leak detection, metering, and fleet management systems. Biofuel applications are expanding, offering further sustainability benefits. Regulations and incentives shape the market landscape, influencing CNG adoption and infrastructure development. CNG supply and distribution networks are evolving, with pipelines and refueling stations expanding to meet growing demand. Safety remains a priority, with ongoing research and development in fire suppression, vaporization, and safety regulations. The CNG market's continuous dynamism underscores its potential as a viable alternative fuel source.

How is this Compressed Natural Gas (CNG) Industry segmented?

The compressed natural gas (cng) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  LDV
  MDV and HDV


Source

  Non associated gas
  Unconventional gas
  Associated gas


Distribution Channel

  Refueling Stations
  Virtual Pipelines


Tank Type

  Type 1
  Type 2
  Type 3
  Type 4


Vehicle Types

  Light-Duty
  Heavy-Duty
  Buses


Geography

  North America

    US
    Mexico


  Europe

    France
    Italy
    Norway


  Middle East and Africa

    Egypt
    Iran
    Qatar
    UAE


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Application Insights

The ldv segment is estimated to witness significant growth during the forecast period.

The market in the US is witnessing significant growth as businesses and public entities adopt this clean, domestic alternative fuel for various applications. CNG is increasingly being used in public transportation, with cities like Los Angeles, New York, and Seattle leading the way in converting their bus fleets to CNG. CNG fueling stations are expanding to meet the demand, with over 1,500 stations currently in operation. CNG is also gaining popularity in commercial transportation, particularly for heavy-duty vehicles like trucks and buses, due to its cost savings and energy security benefits. The US Department of Energy estimates that CNG costs about 30% less than gasoline or diesel, making it an attractive option for fleet operators.

CNG is also a domestically produced resource, reducing dependence on foreign oil and contributing to energy independence. In the residential sector, CNG is being used for heating and cooking applications, particularly in areas with abundant natural gas resources. CNG is also being used in emergency response vehicles and renewable energy systems. C

The Gas-to-Liquids (GTL) systems market, valued at $58 million in 2025, is projected to experience steady growth, driven by increasing demand for cleaner fuels and the need for energy diversification. A compound annual growth rate (CAGR) of 3.2% from 2025 to 2033 indicates a substantial market expansion over the forecast period. Key drivers include stringent environmental regulations promoting cleaner fuel alternatives, the growing scarcity of conventional crude oil resources, and the increasing need for energy security in various regions. Technological advancements in GTL processes, particularly in improving efficiency and reducing costs, are further contributing to market growth. The methanol-to-gasoline and Fischer-Tropsch technologies are dominant segments, while applications span fuel oil, lubricating oils, and process oils. Geographical expansion is expected, with regions like Asia-Pacific and the Middle East & Africa exhibiting significant growth potential due to their abundant natural gas reserves and increasing industrialization. However, high capital investment costs associated with GTL plants and the price volatility of natural gas remain significant restraints on wider market adoption. The competitive landscape features major players like Sasol, Shell, and Chevron, along with smaller, specialized companies focusing on niche applications and technologies. The market is expected to witness strategic collaborations and mergers and acquisitions as companies seek to expand their market share and technological capabilities. The market segmentation within GTL systems reveals a diverse range of applications and production technologies. The fuel oil segment dominates due to its large-scale usage in various sectors. The lubricating oil segment benefits from the superior quality and performance characteristics of GTL-derived products. Process oils, employed in diverse industrial processes, also contribute substantially to market demand. Among production technologies, the Fischer-Tropsch process holds a significant market share due to its established track record and adaptability. However, methanol-to-gasoline technology is gaining traction owing to its cost-effectiveness and suitability for smaller-scale operations. Regional analysis suggests a concentrated market in North America and Europe initially, but growth will increasingly be driven by emerging economies in Asia-Pacific and the Middle East & Africa, which possess ample natural gas resources and growing industrial sectors.

After four years of growth, the East European wood fuel market decreased by -2.5% to $5.2B in 2024. The total consumption indicated a noticeable increase from 2012 to 2024: its value increased at an average annual rate of +4.0% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $5.3B in 2023, and then dropped in the following year.

The global fuel oil market, valued at approximately $150 billion in 2025, is projected to experience robust growth, driven primarily by increasing energy demand in developing economies and the persistent reliance on fuel oil in certain industrial sectors like maritime transport and power generation. The market's compound annual growth rate (CAGR) is estimated at 3.5% from 2025 to 2033, indicating a steady expansion despite the global push towards cleaner energy sources. Key drivers include the ongoing need for heavy fuel oil in shipping, particularly in emerging markets with less stringent emission regulations, and its continued use in certain industrial processes where it remains a cost-effective energy source. However, stringent environmental regulations aimed at reducing sulfur emissions, coupled with the increasing adoption of cleaner alternatives such as natural gas and renewable energy sources, pose significant restraints on market growth. The market is segmented by application (transportation, petrochemical, petroleum refineries, building) and type (distillate and residual fuel oil), with residual fuel oil holding a larger market share due to its widespread use in the maritime and power generation sectors. Geographic analysis reveals that Asia-Pacific, particularly China and India, will be a major growth engine due to their expanding industrial sectors and rising energy consumption. North America and Europe, while mature markets, will continue to contribute significantly, although their growth rates will likely be slower than those in developing regions. The competitive landscape is dominated by major integrated oil and gas companies such as Gazprom, Rosneft, ExxonMobil, PetroChina, BP, Royal Dutch Shell, Chevron, Petrobras, Lukoil, Total, and Equinor. These companies wield significant influence over production, distribution, and pricing, shaping the market dynamics. Future growth hinges on the balance between the persistent demand for cost-effective energy solutions and the increasing pressure to transition towards cleaner and more sustainable energy alternatives. The market's trajectory will be significantly influenced by government policies, technological advancements in emission control, and the evolving global energy landscape. Companies are investing in cleaner fuel technologies and diversifying their portfolios to adapt to the changing market conditions.