Global Underground Gas Storage Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product;

Natural Gas, Hydrogen and Others.

By Storage Type;

Depleted fields, Salt Caverns and Aquifers.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn912560872 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Underground Gas Storage Market (USD Million), 2021 - 2031

In the year 2024, the Global Underground Gas Storage Market was valued at USD 491,313.78 million. The size of this market is expected to increase to USD 581,231.51 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 2.4%.

The Global Underground Gas Storage Market serves as a critical component of the energy infrastructure, facilitating the efficient and reliable supply of natural gas to meet varying demand patterns and ensuring energy security. Underground gas storage facilities provide the capability to store large volumes of natural gas in depleted hydrocarbon reservoirs, salt caverns, or aquifers, allowing for seasonal balancing of supply and demand, peak shaving, and emergency response. These facilities play a crucial role in stabilizing energy markets, enhancing grid flexibility, and mitigating price volatility by providing a buffer against fluctuations in natural gas production, consumption, and transportation.

Moreover, the Global Underground Gas Storage Market has witnessed significant growth and development driven by several factors, including increasing energy demand, expanding natural gas infrastructure, and the transition towards cleaner energy sources. With natural gas playing a prominent role in the global energy mix due to its lower carbon intensity compared to coal and oil, the need for reliable storage solutions has become paramount. Underground gas storage facilities offer advantages such as high storage capacity, minimal environmental footprint, and operational flexibility, making them indispensable assets for energy companies, utilities, and governments seeking to ensure energy supply reliability and resilience.

Furthermore, the Global Underground Gas Storage Market is characterized by technological advancements, regulatory frameworks, and market dynamics that vary across regions. While mature markets in North America and Europe have well-established underground storage infrastructure, emerging markets in Asia-Pacific, Latin America, and the Middle East are witnessing rapid expansion and investment in gas storage projects. The increasing adoption of advanced technologies such as smart monitoring systems, horizontal drilling techniques, and enhanced reservoir characterization tools is driving efficiency improvements and operational optimization in underground gas storage operations. Overall, the Global Underground Gas Storage Market plays a pivotal role in the energy transition towards a more sustainable and resilient future, supporting the integration of renewable energy sources and ensuring the reliable supply of natural gas to meet evolving energy needs.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product
    2. Market Snapshot, By Storage Type
    3. Market Snapshot, By Region
  4. Global Underground Gas Storage Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increasing Energy Demand
        2. Transition to Cleaner Energy Sources
        3. Energy Security and Supply Reliability
      2. Restraints
        1. Regu latory Compliance and Environmental Concerns
        2. High Initial Capital Investment
        3. Geographical and Geological Constraints
      3. Opportunities
        1. Expansion of Natural Gas Infrastructure
        2. Technological Advancements in Storage Technologies
        3. Market Integration and Energy Market Liberalization
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Underground Gas Storage Market, By Product, 2021 - 2031 (USD Million)
      1. Natural Gas
      2. Hydrogen
      3. Others
    2. Global Underground Gas Storage Market, By Storage Type, 2021 - 2031 (USD Million)
      1. Depleted fields
      2. Salt Caverns
      3. Aquifers
    3. Global Underground Gas Storage Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. Gazprom
      2. E.ON SE
      3. Engie SA
      4. National Grid plc
      5. Uniper SE
      6. Centrica plc
      7. Enbridge Inc.
      8. Dominion Energy, Inc.
      9. Inter Pipeline Ltd.
      10. Abu Dhabi National Oil Company
  7. Analyst Views
  8. Future Outlook of the Market