Global Tight Gas Market By Application (Residential, Commercial, Industrial, Power Generation, Transportation), End-User (Power, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Tight Gas Market
Global tight gas market is expected to register a substantial CAGR of 5.13% in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the focus of various regional authorities on utilization of renewable energy sources, and alternatives for fossil fuels.
Market Definition: Global Tight Gas Market
Tight gas is generally a source for natural gas extraction and exploration. The extraction of natural gas through this method requires high amount of hydraulic fracturing. Tight gas is trapped inside rocks while having significantly low amount of permeability. Tight gas is extracted by pumping the cavity of rocks with high-pressurized fracking fluids to initiate the hydraulic fracturing process.
- Lower extraction, processing and commercialization costs for this variant of gas is expected to boost the growth of the market
- Innovations in the extraction process of hydraulic fracturing is expected to drive the growth of the market
- Increasing levels of expenditure being incurred on expansion of oil & gas industry will also propel the market growth
- Presence of various harmful chemicals present in these gas extraction process; this factor is expected to hinder the growth of the market
- Availability of alternate modes of energy such as shale gas will restrict the market growth
Segmentation: Global Tight Gas Market
- Power Generation
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In August 2019, Occidental Petroleum Corporation announced that they had completed the acquisition of Andarko Petroleum Corporation. The acquisition will result in high expansion of existing capabilities and services of Occidental Petroleum Corporation which can help in an immediate positive impact on the revenues of the company. All of acquired assets, expertise and infrastructure will be integrated into Occidental’s business operations
- In June 2019, Total announced that they had agreed with Toshiba for handling their business operations for liquefied natural gas (LNG) portfolio. This agreement involves tolling on 2.2 million annual production of LNG developed at Freeport LNG train 3 situated in Texas, United States along with the resulting gas being transported to the pipelines focusing on feeding the terminals
Global tight gas market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of tight gas market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global tight 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. among others.
Research Methodology: Global Tight Gas Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved