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Tight Gas Market: Future Market Scope and Market Analysis (2024-2030)
Tight Gas Market size was valued at US $ 41.02 Billion in 2023 and the Tight Gas Market revenue is expected to grow at 4.81% through 2024 to 2030, reaching nearly US $ 56.99 Billion. The report analyzes Tight Gas Market dynamics by region and end-user industries.
Format : PDF | Report ID : SMR_414
Tight Gas Market Overview:
Tight gas is natural gas generated from reservoir rocks with low permeability, necessitating substantial hydraulic fracturing to produce the well at a profit. This natural gas is contained within low-permeability rocks. It is a form of natural gas that is obtained unconventionally. This gas was created 0.248 billion years ago in Cretaceous rocks. Solidification and recrystallization altered the permeability of a typical gas reserve, trapping natural gas within these rock formations.
Hydraulic fracturing, which includes injecting fracking fluids into wells to break apart the rocks in the formation, is one of the most prevalent methods for obtaining tight gas. This improves permeability and makes gas flow out of the trap easier. The de-liquefaction process then completes the extraction.
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Tight Gas Market Dynamics:
Market instability and strict environmental policies:
Upstream investment in tight gas production is higher during periods of high oil prices; alternatively, protracted periods of low oil prices result in actual production declines. This tendency is expected to persist over the foreseeable period, hampering the market growth and creating volatile market circumstances. Tight gas extraction uses a lot of water and emits harmful gases throughout the drilling process.
This has sparked significant environmental concerns as well as strong opposition from social movements, thereby halting tight gas production in many possible reservoirs. Over the forecast period, the market's growth is expected to be hampered by strict environmental rules, as well as protracted periods of government scrutiny and authorization approval. For example, Ascent Resources plc, based in the United Kingdom, was denied permission to recommence production in its pre-existing producing wells, including the Petiovci field's tight gas reservoirs, in June 2019.
Putting a greater emphasis on unconventional gas and supporting government programs:
Natural gas has become a greener alternative to other fossil fuels as environmental worries about excessive carbon emissions from coal and petroleum products have grown. Natural gas is expected to be able to replace coal and other petroleum-based fuels as the dominant source of energy in some of the world's major countries in Asia Pacific, Europe, and North America. As a result, demand for unconventional natural gas reserves is expected to grow thanks to the rapid depletion of conventional gas reserves and rising energy demand for clean fuel.
Also, government investments, supportive rules, and subsidies have driven the tight gas market in the United States. Also, during the forecast period, the development of technologically better procedures in the United States is expected to drive tight gas output.
Tight Gas Market Segmentation:
Based on Application:
In terms of volume, the industrial segment was dominant in 2023, accounting for xx% of the overall market. The development can be linked to the tight gas consumption of multiple value-added outputs required in the industrial sector. Tight gas, for example, is utilized as a feedstock in the manufacturing of fertilizer, chemicals, and a range of other products. This trend has offered many chances for gas-rich economies to drive industrial output in the coming years by utilizing this abundant resource.
In terms of volume, the power generating segment is expected to grow at a CAGR of xx% over the forecast period. This could be linked to a growing trend in power plants around the world to switch from coal to natural gas. Lower carbon emissions from tight gas combustion compared to other fossil fuel combustion quality are likely to drive tight gas's energy share in different countries.
Tight Gas Market Regional Insights:
North America was the dominating region in 2023, accounting for 90.6% of the Tight Gas market's revenue, and this dominance is likely to continue over the forecast period. The use of current drilling methods, as well as the presence of various tight gas deposits in the Permian Basin, Anadarko, Niobrara, and Bakken fields, are driving the market in the region.
Argentina is expected to increase at a CAGR of xx% throughout the forecast period thanks to the availability of technically recoverable tight gas deposits. The Vaca Muerta formation's continued development is expected to bring production growth back on track, despite the country's tight gas production from older fields. Vaca Muerta, for example, accounts for almost 20% of the country's total natural gas production, with only 4% likely to enter the development phase before 2019.
China is expected to earn a considerable market share in the Asia Pacific area over the forecast period, resulting in the country's goal of expanding domestic natural gas production as well as rising demand for strengthening regional energy security. China's hilly regions hold the majority of the country's tight gas reserves. As a result of this geography, drilling prices climb dramatically, limiting market growth in the region to some extent.
The objective of the report is to present a comprehensive analysis of the Tight Gas Market to the stakeholders in the industry. The report provides trends that are most dominant in the Tight Gas Market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Tight Gas Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.
The qualitative and quantitative data provided in the Tight Gas Market report is to help understand which market segments, regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Tight Gas Market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Tight Gas Market.
The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals are existing, who they are, and how their product quality is in the Market. The report also analyses if the Tight Gas Market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly if the market is dominated by a few players, etc.
The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Tight Gas Market is aided by legal factors.
Tight Gas Market Scope:
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Tight Gas Market |
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Market Size in 2023 |
USD 41.02 Bn. |
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Market Size in 2030 |
USD 56.99 Bn. |
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CAGR (2024-2030) |
4.8% |
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Historic Data |
2018-2022 |
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Base Year |
2023 |
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Forecast Period |
2024-2030 |
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Segment Scope |
by Application
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Regional Scope |
North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America |
Tight Gas Market Key Players
- Chevron Corporation (United States)
- Shell PLC (United Kingdom)
- ConocoPhillips (United States)
- Exxon Mobil Corporation (United States)
- PetroChina Company Limited (China)
- Equinor (Norway)
- CNPC (China)
- Sinopec (China)
- Canadian Natural (Canada)
- YPF (Argentina)
- Valeura Energy (Canada)
- BP plc (United Kingdom)
- Marathon Oil Company (United States)
- Devon Energy Corporation (United States)
- Others
Frequently Asked Questions
The unstable market conditions and stringent environmental policies about tight gas production are the key factors expected to hinder the growth of the tight gas market over the forecast period.
The Tight Gas market is expected to grow at a CAGR of 4.81% during the forecast period (2024-2030).
The ample availability of tight gas along with shifting consumer focus toward unconventional gas and supporting government policies are expected to drive the growth of the market during the forecast period.
Chevron Corporation (United States), Shell PLC (United Kingdom), ConocoPhillips (United States), Exxon Mobil Corporation (United States), PetroChina Company Limited (China), Equinor (Norway), CNPC (China), Sinopec (China), Canadian Natural (Canada), YPF (Argentina), Valeura Energy (Canada), BP plc (United Kingdom), Marathon Oil Company (United States), Devon Energy Corporation (United States), and Others are the key players covered.
Chapter 1 Scope of the Report
Chapter 2 Research Methodology
2.1.Research Process
2.2.Global Tight Gas Market: Target Audience
2.3.Global Tight Gas Market: Primary Research (As per Client Requirement)
2.4.Global Tight Gas Market: Secondary Research
Chapter 3 Executive Summary
Chapter 4 Competitive Landscape
4.1.Market Share Analysis, By Value, 2023-2030
4.1.1.Market Share Analysis, By Region, By Value, 2023-2030 (In %)
4.1.1.1.North America Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.2.Europe Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.3.Asia Pacific Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.4.South America Market Share Analysis, By Value, 2023-2030 (In %)
4.1.1.5.Middle East and Africa Market Share Analysis, By Value, 2023-2030 (In %)
4.1.2.Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.1.North America Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.1.1.USA Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.1.2.Canada Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.1.3.Mexico Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.2.Europe Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.2.1.UK Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.2.2.France Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.2.3.Germany Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.2.4.Italy Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.2.5.Spain Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.2.6.Sweden Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.2.7.Austria Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.2.8.Rest of Europe Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.3. Asia Pacific Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.3.1.China Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.3.2.India Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.3.3.Japan Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.3.4.South Korea Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.3.5.Australia Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.3.6.ASEAN Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.3.7.Rest of APAC Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.4.South America Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.4.1.Brazil Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.4.2.Argentina Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.4.3.Rest of South America Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.5. Middle East and Africa Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.5.1.South Africa Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.5.2.GCC Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.5.3.Egypt Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.5.4.Nigeria Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.1.2.5.5.Rest of Middle East and Africa Market Share Analysis, By Application, By Value, 2023-2030 (In %)
4.2.Stellar Competition matrix
4.2.1.Global Stellar Competition Matrix
4.2.2.North America Stellar Competition Matrix
4.2.3.Europe Stellar Competition Matrix
4.2.4.Asia Pacific Stellar Competition Matrix
4.2.5.South America Stellar Competition Matrix
4.2.6.Middle East and Africa Stellar Competition Matrix
4.3.Key Players Benchmarking
4.3.1.Key Players Benchmarking by Application, Pricing, Market Share, Investments, Expansion Plans, Physical Presence and Presence in the Market.
4.4. Mergers and Acquisitions in Industry
4.4.1.M&A by Region, Value and Strategic Intent
4.5. Market Dynamics
4.5.1.Market Drivers
4.5.2.Market Restraints
4.5.3.Market Opportunities
4.5.4.Market Challenges
4.5.5.PESTLE Analysis
4.5.6.PORTERS Five Force Analysis
4.5.7.Value Chain Analysis
Chapter 5 Global Tight Gas Market Segmentation: By Application
5.1.Global Tight Gas Market, By Application, Overview/Analysis, 2023-2030
5.2.Global Tight Gas Market, By Application, By Value, Market Share (%), 2023-2030 (USD Billion)
5.3.Global Tight Gas Market, By Application, By Value, -
5.3.1.Industrial
5.3.2.Power Generation
5.3.3.Commercial
5.3.4.Transportation
5.3.5.Residential
Chapter 6 lobal Tight Gas Market Segmentation: By Region
6.1.Global Tight Gas Market, By Region – North America
6.1.1.North America Tight Gas Market Size, By Application, By Value, 2023-2030 (USD Billion)
6.1.2.North America Tight Gas Market Size, By Application, By Value, 2023-2030 (USD Billion)
6.1.3.By Country – U.S.
6.1.3.1.U.S. Tight Gas Market Size, By Application, By Value, 2023-2030 (USD Billion)
6.1.3.2.U.S. Tight Gas Market Size, By Application, By Value, 2023-2030 (USD Billion)
6.1.3.3.Canada Tight Gas Market Size, By Value, 2023-2030 (USD Billion)
6.1.3.4.Mexico Tight Gas Market Size, By Value, 2023-2030 (USD Billion)
6.2. Europe Tight Gas Market Size, By Value, 2023-2030 (USD Billion)
6.2.1.UK
6.2.2.France
6.2.3.Germany
6.2.4.Italy
6.2.5.Spain
6.2.6.Sweden
6.2.7.Austria
6.2.8.Rest of Europe
6.3. Asia Pacific Tight Gas Market Size, By Value, 2023-2030 (USD Billion)
6.3.1.China
6.3.2.India
6.3.3.Japan
6.3.4.South Korea
6.3.5.Australia
6.3.6.ASEAN
6.3.7.Rest of APAC
6.4. Middle East and Africa Tight Gas Market Size, By Value, 2023-2030 (USD Billion)
6.4.1.South Africa
6.4.2.GCC
6.4.3.Egypt
6.4.4.Nigeria
6.4.5.Rest of Middle East and Africa
6.5. South America Tight Gas Market Size, By Value, 2023-2030 (USD Billion)
6.5.1.Brazil
6.5.2.Argentina
6.5.3.Rest of South America
Chapter 7 Company Profiles
7.1.Key Players
7.1.1.Chevron Corporation (United States)
7.1.1.1.Company Overview
7.1.1.2.Application Portfolio
7.1.1.3.Financial Overview
7.1.1.4.Business Strategy
7.1.1.5.Key Developments
7.1.2.Shell PLC (United Kingdom)
7.1.3.ConocoPhillips (United States)
7.1.4.Exxon Mobil Corporation (United States)
7.1.5.PetroChina Company Limited (China)
7.1.6.Equinor (Norway)
7.1.7.CNPC (China)
7.1.8.Sinopec (China)
7.1.9.Canadian Natural (Canada)
7.1.10.YPF (Argentina)
7.1.11.Valeura Energy (Canada)
7.1.12.BP plc (United Kingdom)
7.1.13.Marathon Oil Company (United States)
7.1.14.Devon Energy Corporation (United States)
7.1.15.Others
7.2.Key Findings
7.3.Recommendations
