Technavios global tight gas market research report projects the market to grow at a CAGR of approximately 5% during the forecast period.
The technological advances in hydraulic fracturing will be one of the major trends in the global tight gas market during 2018-2022. The emergence of unconventional gases such as tight gas, shale gas, and shale oil has resulted in the disruption of the global oil and gas market. This is because the contribution of these gases in global natural gas production has increased significantly in the past decade. This trend is expected to continue further because countries such as the US and Canada continue to expand their unconventional gas production.
The unconventional gas boom can be attributed to the technological and innovation breakthroughs related to E&P in the oil and gas industry. However, hydraulic fracturing, the production process of tight gas, needs further technological advances at every value chain stage to make the operations cost-effective, clean, and more efficient.
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According to Technavio analysts, one of the key drivers for the global tight gas market is the advantages associated with tight gas:
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Global tight gas market: Advantages associated with tight gas
The increasing economic activities across the globe have increased the emission of carbon dioxide. Numerous countries are decarbonizing their power mix by shifting to renewable energy that has controlled carbon dioxide emissions. Fuels such as natural gas and biomethane are considered as potential alternatives to fossil fuels to reduce the environmental impact of transportation.
According to a senior analyst at Technavio for research on oil and gas, Natural gas is a major feedstock for many industries such as the chemical industry. The use of natural gas to generate electricity offers numerous benefits when compared with conventional heating fuels. It is also preferred over gasoline for transportation. Tight gas is one of the cleanest burning fossil fuels as it has low carbon content.
Global tight gas market: Segmentation analysis
This global tight gas market analysis report provides market segmentation by end-user (industrial, power, and others) and by region (Americas and ROW). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the industrial segment held the largest tight gas market share in 2017, contributing to around 35% of the market. This end-user segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 83% share. This region is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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