Natural Gas Storage Market - Historic Data (2019-2024), Global Trends 2025, Growth Forecasts 2037
Natural Gas Storage Market in 2025 is estimated at USD 9.07 billion. The global Market size was worth more than USD 8.75 billion in 2024 and is poised to witness a CAGR of over 4.6%, crossing USD 15.7 billion revenue by 2037. Asia Pacific is likely to generate largest share by 2037, driven by favorable climatic conditions and the presence of vast rural settlements.
The growth of the market can be attributed to the increasing demand for natural gas in multiple sectors rapidly such as homes, businesses, cooking and heating, and others. In modern times there is a higher demand for natural gas since there are enhanced machines available that are either powered by electricity or gas. For instance, in 2021, the global production of natural gas was anticipated to be around 35,000,000 MMcf.
In addition to these, global natural gas storage market trends such as higher demand for natural gas in the industrials sector are anticipated to influence the market growth positively over the forecast period. the industrial uses of natural gas are observed to be in producing chemicals, hydrogen, and fertilizers. It also used the manufacturing of steel, bricks, cement, glass, ceramic, and others. For instance, as of 2022, the total production of cement across the globe was evaluated to be around 4 billion tons.
