The global tight gas market is poised for substantial growth in the forecast period, driven by a shift towards unconventional gases. Tight gas, characterized by low penetrability, is extracted from reservoir rocks, necessitating extensive hydraulic fracturing due to its low matrix permeability. This clean-burning fossil fuel boasts low carbon content and reduced emissions of sulfur, metal compounds, and carbon dioxide. Locked in impermeable, hard rock formations, tight gas reservoirs present unique extraction challenges.
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Impact of COVID-19: The outbreak of COVID-19 has significantly reduced the demand for tight gas. Lockdown measures have disrupted labor availability, impeding gas production. Transportation services worldwide have been directly affected, leading to power generation challenges and increased power cuts, especially in rural areas. The industry faces daily losses due to production decline, and lockdowns have disrupted the global import and export of tight gas.
Top Impacting Factors: Market Analysis, Trends, Drivers, and Impact: Tight gas, with its diverse applications, offers growth opportunities amid the global shift towards renewable energy. Countries are reducing carbon emissions by adopting fuels like natural gas. Environmental concerns, manpower limitations, and drilling location access are challenges in this market.
Surge in Tight Gas Applications: Tight gas applications in the natural gas industry are growing, particularly in transportation and residential areas. The rise of compressed natural gas (CNG) vehicles globally has contributed to the gas market's growth. Over 24 million natural gas vehicles (NGVs) were operational globally in 2017. Gas is utilized across various vehicle categories, further propelling market growth.
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Key Report Benefits:
Analytical depiction of the global tight gas industry with current trends and future estimations.
Insight into key drivers, restraints, and opportunities with a detailed market share analysis.
Quantitative analysis of market growth from 2020 to 2027.
Porter’s five forces analysis illustrating buyer and supplier potency.
Detailed market analysis based on competitive intensity and future competition dynamics.
Global Tight Gas Market Highlights:
Type:
Processed Tight Gas
Unprocessed Tight Gas
Application:
Residential
Commercial
Industrial
Power Generation
Transportation
Others
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Region:
North America (US, Canada)
Europe (Germany, UK, France, rest of Europe)
Asia-Pacific (China, Japan, India, rest of Asia-Pacific)
LAMEA (Brazil, South Africa, rest of LAMEA)
Key Market Players:
Exxon Mobil and Chesapeake Energy
Total SA, British Petroleum, Marathon Oil
EOG Resources, Devon Energy, PetroChina, and Anadarko Petroleum Co.
Pioneer Natural Resources, Sinopec, Royal Dutch Shell