Global Tight Gas Market Size, By Application (Residential, Commercial, Industrial, Power Generation, Transportation), End-User (Power, Others), By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa), Trend Analysis, Market Competition Scenario & Outlook, 2020-2027
- Published Date: July 2020
- Report ID: BWC20099
- Available Format: PDF
- Page: 169
The Global Tight Gas Market was worth 12 billion USD in 2019 and is estimated to touch 20 billion USD by 2027, at a CAGR of 5% during the projected period. The global tight gas market is likely to undergo significant development over the prediction period due to moving toward the deployment of rare gases. Tight gas is an unconventional gas (an energy source) explored through hydraulic splitting with low permeability. The increasing usage of the tight gas in housing, transportation, commercial, power generation, and industrial sectors is likely to contribute substantially to this market during the upcoming years.
Rising energy demand because of the increasing populace is the primary factor driving the market over the foreseeable period. Growing Tight gas demand in the industrial market is anticipated soon to have an optimistic impact on the worldwide market. Increasing R&D, commercialization, and exploration activity are further expected to enhance the market over the next time. Technological up-gradation has significantly facilitated the extraction of tight gas. It is likely to affect the market positively over the next six years. Increasing oil prices across the sphere have compelled to find a substitute source of energy. The transition towards unconventional gases is likely to drive the market over the forthcoming period.
Global Tight Gas Market – Overview
Tight gas is natural gas that originates from rock, usually limestone or sandstone with very low permeability. It is a rare source of energy produced through hydraulic splitting with low permeability. The retrieval of Tight Gas passes through the stages of Seismic examination, Drilling, Production Stimulation, Hydraulic Splitting, Acidizing, and De-liquefaction. Tight gas is one of the freshest burning fossil fuels, as it has low carbon content and burns with smaller sulfur releases, metal compounds, and carbon dioxide. The advent of tight gas as an unusual energy source has transformed the scenario of energy safety in many countries. The tracking process is water rigorous; hence, the accessibility of fresh water is vital for the extraction of tight gas. It affects the development of the market. Many tight gas investments face a barrier of freshwater stress level.
Increasing levels of expenditure being incurred on the expansion of the oil & gas industry propel the market growth
Growing oil prices across the globe have led to the exploration of alternate sources of energy. The shift in focus toward unconventional gases is expected to propel the market over the projected period. However, strict government guidelines regarding shale gas exploration may push the tight gas market in the future.
Growth in Penetration of Natural Gas in Transportation
Considerable growth has been noticed in the usage of natural gas in diverse manners. Tight gas is being increasingly used as fuel in transportation by residential and commercial sectors. The transportation sector has provided a significant impetus to the tight gas market, with the ever-rising deployment of CNG vehicles. More than 24 million natural gas vehicles (NGVs) were operational across the sphere in 2017. Natural gas can be used in all kinds of transport vehicles such as buses, lift trucks, motorcycles, cars, vans, light and heavy-duty trucks, and locomotives. This trend is likely to continue throughout the prediction period, strengthening the unconventional gas market.
Global Tight Gas Market – Segmentation
Based on Applications, The Global Tight Gas Market is segmented into Industrial, Residential, Commercial, Power Generation, and Transportation. Transportation is the primary deployment section of the tight gas market. Growing usage of natural gas usage as an alternate source of energy reassures the market development.
Based on End-User, The Global Tight Gas Market is segmented into Power and Others. Tight gas has earned credibility as an economical and environment-friendly source of power and energy. Associated ecological and economic rules are in favor of natural gas-powered plants. Owing to its low prices and strict regulations against coal-fired plants, the natural gas production sector is predicted to witness high growth during the projected period. The power generation industry accounted for over 30% share by volume in 2013. Favorable administrative policy, coupled with an amplified request for cleaner energy fuel, has propelled the advancement of exploration and retrieval projects of Tight gas.
Based on region, Global Tight Gas Market is segmented by key regions— North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Global Tight Gas Market - Regional Insights
North America dominated the scene of the global tight gas market. The Asia Pacific is another critical region of the tight gas market. Customers' disposable income has been growing at a fast rate in the Asia Pacific with advancing GDP of the region. The rise in GDP is pushing the demand for energy in the Asia Pacific. China, India, and Indonesia are the prime markets for energy production and consumption. In terms of unconventional gas production, China and Australia are the leading nations in the Asia Pacific.
The major players in this particular gas market are Occidental Petroleum Corporation; BP p.l.c.; Canadian Natural; Chevron Corporation; Total; Exxon Mobil Corporation; PetroChina Company Limited; Royal Dutch Shell; China Petrochemical Corporation; YPF; Marathon Oil Company; Ensign Natural Resources; Devon Energy Corporation; EOG Resources, Inc. and other prominent players.
In August 2019, Occidental Petroleum Corporation announced that it had concluded the acquisition of Andarko Petroleum Corporation.
In June 2019, Total announced that they had signed an agreement with Toshiba to handle their business operations for liquefied natural gas (LNG) portfolios. This agreement involves tolling on annual LNG production of 2.2 million generated at Freeport LNG Train -3 situated in Texas, the United States, along with the resulting gas being transported to the pipelines focused on feeding the terminals.
Scope of the Report
Historical data – 2016-2019
Base Year – 2019
Forecast – 2020 – 2026
Revenue in USD Million
U.S, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, South Korea UAE, South Africa, Saudi Arabia.
By Application, By End User, and By Region.
Occidental Petroleum Corporation; BP p.l.c.; Canadian Natural; Chevron Corporation; Total; Exxon Mobil Corporation; PetroChina Company Limited; Royal Dutch Shell; China Petrochemical Corporation; YPF; Marathon Oil Company; Ensign Natural Resources; Devon Energy Corporation; EOG Resources, Inc.
Ø North America
Ø Asia Pacific
Ø South America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and project the Global Tight Gas Market size in terms of value.
Ø To examine the region-wise segmentation of the Global Tight Gas Market and assess the market size in terms of value for each region viz., North America, Europe, Asia Pacific, Middle East & Africa, Latin America, and their leading countries.
Ø To outline, segregate, and estimate the Global Tight Gas Market based on different classifications, i.e., By Application, By End User, and By Region.
Ø To scrutinize category-wise competitive developments in the Global Air Traffic Control Market based on By Application, By End User, and By Region.
Ø To interpret the current market dynamics, by analyzing growth drivers, restraints, opportunities, and challenges and their impact.
Ø To provide a detailed competitive landscape, including major players, strategic profiles, and market shares.
Business Questions Answered by the Report
Ø How will the market drivers, restraints, and opportunities affect the market dynamics?
Ø What will be the market size in terms of value and volume and market statistics with a detailed classification?
Ø Which segment dominates the market or region, and which one will be the fastest-growing, and why?
Ø Who are the key players in the market, and what is their share?
Ø What is the strategy adopted by key players, and how does it affect the existing and new players?
Customization Scope for the Client
Client satisfaction is our first and last priority, and that is why BlueWeave Consulting offers customization as per client’s specific needs. The following customization options are available for the report:
Ø Additional Company Information
Ø Detail Analysis of five additional companies
Ø Additional country analysis
Ø Detailed segment analysis
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