Global tight gas market revenue is expected to reach USD 59.40 billion by 2020,
growing at a CAGR of 3.5% from 2014 to 2020. Tight gas has a critical role in
supply of natural gas in North America mainly in the U.S. Tight gas was the
leading unconventional gas contributing to the growing demand for natural gas
in the nation, until recent years, when shale gas emerged as a feasible
alternative. China is expected to emerge as a leading regional market for tight
gas with extensive drilling activities underway for tight gas extraction across
the nation. With China estimated to possess significant reserves, global
expenditure tight gas R&D, exploration, and commercialization is expected
to witness significant surge over the next six years. Advanced fracturing techniques
have led to an economical extraction of tight gas. Large reservoirs are found
in North America, Russia and China. Global and integrated oil and gas players
such as Total and Shell have been actively involved in exploration and
production of tight gas. With a target of ramping up tight gas and CBM (Coalbed
Methane) production, the Chinese government has been actively investing in
infrastructure building, which is expected to be critical for tight gas market
development over the next six years. In addition, increasing drilling
activities in Argentina and Oman have been supporting the global production
rate of tight gas.
Power generation emerged as
the leading application market for tight gas and accounted for 33.1% of total
tight gas produced globally in 2013. Power generation along with being the
largest market is also expected to be the fastest growing application markets
for tight gas at an estimated CAGR of 6.2% from 2014 to 2020. North America
dominated the global market for tight gas with the U.S. and Canada together
accounting for more than 75% of global tight gas produced in 2013. However,
government support to push the production of tight gas in China is expected to
make Asia Pacific the fastest growing market for tight gas at an estimated CAGR
of 13.6% from 2014 to 2020.
Access
Research Report of Tight
Gas Market@ https://www.grandviewresearch.com/industry-analysis/tight-gas-industry
Further key findings from the study suggest:
· Global tight gas production was 11,816.3
Bcf in 2013 and is expected to reach 16,141.5 Bcf by 2020, growing at a CAGR of
4.7% from 2014 to 2020.
· Power generation emerged as the leading
application market for tight gas and accounted for 33.1% of total tight gas
produced globally in 2013. Power generation along with being the largest market
is also expected to be the fastest growing application market, at an estimated
CAGR of 6.2% from 2014 to 2020.
· North America dominated the global market
for tight gas with the U.S. and Canada together accounting for more than 75% of
global tight gas produced in 2013. U.S. dominates the North American tight gas
market, with revenue estimated at USD 25.92 billion in 2013, expected to grow
at a CAGR of 3% from 2014 to 2020. However, government support to push the
production of tight gas in China is expected to make Asia Pacific the fastest
growing market for tight gas at an estimated CAGR of 13.6% from 2014 to 2020.
However, lack of drilling companies operating in Australia and Western Europe
to meet the economies of scale has been hampering the production rate.
· Key companies operating in the global tight
gas market include, Anadarko, British Petroleum, ExxonMobil, PetroChina, Royal
Dutch Shell, Sinopec and Total SA among some other companies.
Grand View
Research has segmented the global tight gas market on the basis of application
and region:
Tight Gas
Application Outlook (Volume, Bcf; Revenue, USD Billion; 2012-2020)
·
Power Generation
·
Industrial
·
Residential
·
Commercial
·
Transportation
Regional
coverage of the database includes:
·
North America
o
U.S.
o
Canada
o
Europe
o
Russia
·
Asia-Pacific
o
China
·
RoW
Access Press Release of
Tight Gas Market@ https://www.grandviewresearch.com/press-release/global-tight-gas-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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Information: www.grandviewresearch.com
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