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Tight Gas Market Growth & Trends, 2020-2027 | Industry Report

Tight Gas Market Analysis Report By Application, By Region And Segment Forecasts From 2020 To 2027

Report ID: MN17620267  |  Published: August 2021  |  No of Pages: 100
Format: Electronic (PDF)  |  Industry: Energy  |  Publisher: Grand View Research

Synopsis

The global tight gas market demand was 10,441.3 billion cubic feet (BCF) in 2019. It is estimated to witness a 5.02% CAGR from 2020 to 2027.

This is a category of irregular gas, which is locked in a short permeability resource rock, deep-seated underground, like limestone otherwise sandstone. As the gas is not liberally flowing, a technique like hydraulic breaking utilizes the insertion of excessive pressurized water to rupture the resource rock and take out the gas.

Drivers

Diminishing reserves of the usual gas, together with increasing demand for energy, has given a rise to an exemplar move towards unusual reserves of natural gas, like coal bed methane, tight gas, and shale gas. Whilst relate to other fossil fuels like petroleum products and coal, cleaner burning of the tight gas is anticipated to optimistically affect the market demand, during the near future.

us-tight-gas-market

The subsidies, finances, and the supporting rules by the government, about the manufacture of this gas, have inspired the market in the U.S. The progress of technically sophisticated methods in the U.S. is, moreover, estimated to increase the production of tight gas, during the forecast period.

Restraints

Strict policies for safeguarding the atmosphere, together with extended phases of government assessment and issuance of licenses are the factors, estimated to hold back the expansion of the tight gas market, during the forecast period.

For example, Ascent Resources plc, a U.K. sourced company, did not get sanction, which was necessary for increase manufacture in the company’s presented gas producing wells, in June 2019. It includes basins of this gas at Petišovci field.

Application Insight

The industrial sector came out like the biggest application sector, in 2019. It held a 34.2% volume share of the tight gas market. The enlargement can be credited to the use of this gas in the industrial sector.

global-tight-gas-market

For example, it is utilized as a feedstock for the production of chemicals, fertilizers, plus a variety of additional merchandise. This development has created several openings for the tight gas prosperous nations; to make use of these plentiful reserves to expand their industrialized productivity, during the near future.

In terms of the volume, the power generation sector is projected to develop by the highest CAGR, during the forecast period. This can be accredited to the rising movement of coal to gas change over in power plants, through several nations, all over the world.

In a contrast to the burning quality of additional fossil fuels, inferior carbon discharge, for the duration of tight gas burning, is anticipated to augment the share of this gas, in the energy combination of several nations.

On account of the extensive use of tight gas, through domestic necessities, the residential division held the major share of the market, in 2019. The bulk of this gas is consumed for heating water and space, in family units. The rising utilization of tight gas in the residential division has caused augmented growth of the piped natural gas arrangement, to directly deliver the gas to the house.

Tight gas is likely to increase major grip like a transport fuel, due to its capacity to decrease dangerous exhaust releases of the contaminants and offer cleaner-burning, in contrast to additional usual resources of fuel. Rising demand for the low price as well as uncontaminated fuel for transport in emergent nations, like India and China, is estimated to boost the demand for this gas.

Regional Insight

In 2019, North America held the major, 90.6% volume share of the global tight gas market and is estimated to uphold its place, during the forecast period. The U.S. is the most important provider for revenue expansion.

The existence of numerous tight gas reserves, through the Bakken, Anadarko, Niobrara, and Permian Basin, plus the employment of sophisticated drilling machinery are the factors, inspiring the market, throughout the region.

China is expected to accomplish a sizeable share of the market for tight gas, during the forecast period, due to its ambition to enhance the national manufacture of natural gas, together with increasing demand for improving the safety of power, through the region. But, the mainstream resources of the tight gas in China exist in the hilly regions. This geography substantially upsurges the drilling overheads, so slowing down the expansion of the market to a definite level, through the region.

On the other hand, in June 2019, the government of China expanded the presented incentives and delivered fresh financial assistance beneath a funding agenda, concerning the manufacture of natural gas from small permeability tight gas creation.

Besides, operational drilling plans, through the resources of tight gas, like Ordos and Sichuan basins, improved the production from the well and decreased the drilling expenditure for each well. This development will definitely affect the backdrop of the industry throughout the nation.

Due to the existence of industrially recoverable tight gas configuration, Argentina is projected to develop by a considerable CAGR, during the forecast period. Although, the manufacture of this gas, within the nation, from established areas, has partly fallen off the incessant expansion of the Vaca Muerta formation is positioned to get the product development on the right track.

Companies

The global market for tight gas is typified through a strong contest and is conquered by big global gas companies, which take up a considerable share through the value chain. Several additional business contestants are constantly concentrating on increasing the indigenous infrastructure for manufacturing of this gas along with setting up strong relations with export and native clients, to increase their grip in the market, during the forecast years.

Some of the companies for the tight gas market are:

    • Equinor ASA.
    • Exxon Mobil Corporation
    • Royal Dutch Shell PLC
    • Petro China Company Limited
    • ConocoPhillips
    • Chevron Corporation

Report Scope

Report Attribute

Details

The market size value in 2020

USD 34.0 billion

The revenue forecast in 2027

USD 60.1 billion

Growth Rate

CAGR of 4.8% from 2020 to 2027

Market demand in 2020

10,661.1 billion cubic feet

Volume forecast in 2027

15,452.3 billion cubic feet

Growth Rate

CAGR of 5.02% from 2020 to 2027

The base year for estimation

2019

Historical data

2016 - 2018

Forecast period

2020 - 2027

Quantitative units

Volume in billion cubic feet, revenue in USD billion, and CAGR from 2020 to 2027

Report coverage

Revenue and volume forecast, competitive landscape, growth factors, and trends

Segments covered

Application, region

Regional scope

North America; Rest of the World (RoW)

Country scope

U.S.; Canada; China; Argentina; Australia

Key companies profiled

Royal Dutch Shell PLC; ConocoPhillips; PetroChina Company Limited; Exxon Mobil Corporation; Chevron Corporation; Chesapeake Energy Corporation; Sinopec Oilfield Service Corporation; Equinor ASA; Repsol SA; Southwestern Energy Company

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail of customized purchase options to meet your exact research needs. 

Segments Covered in the Report

This report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2016 to 2027. For this study, Million Insights has segmented the global tight gas market report based on application and region:

• Application Outlook (Volume, BCF; Revenue, USD Billion, 2016 - 2027)
    • Industrial
    • Power Generation
    • Residential
    • Commercial
    • Transportation

• Regional Outlook (Volume, BCF; Revenue, USD Billion, 2016 - 2027)
    • North America
        • The U.S.
        • Canada
    • RoW
        • China
        • Argentina
        • Australia

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