Emphasis on By Type (Processed and Unprocessed), By Application ( Industrial, Power Generation, Residential, Commercial, and Transportation), and Regions (North America (The US, Canada, Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of the Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World)
The Global Tight Gas Market was valued at USD 41,355 million in 2023 and is expected to grow at a strong CAGR of around 5.14% during the forecast period (2024-2032) owing to rising demand for cleaner fuel across the globe.
The "tight gas" implies that natural gas is bounded in forms of low permeability rocks such as shales or sandstone where it was too strenuous to extract in conventional methodologies. They are typically known for a compact, impermeable structure that hinders the gases' mobility with respect to the channel up to the surface.
The Global Tight Gas market was valued at USD 41,355 million in 2023 and is expected to grow at a strong CAGR of around 5.14% during the forecast period (2024-2032). There has been a very dynamic growth in the global tight gas market thanks to the developments which have occurred in the area of extraction techniques and the growing global demand indicated above for natural gas. Tight gas is generally deposited in low permeable reservoir, these need special drilling and hydraulic fracturing techniques for extraction purpose. In the process of the efficiency improvement and cost reduction innovation was fed into the business tapping of previously impaired gas fields. Tight gas is very critical in the energy-world scenario, primarily because natural gas enjoys an edge over coal and oil in being a cleaner option in many regions. The surge in the production level from tight gas factories, mainly in North America and other areas that are vital to energy, has helped transform energy landscapes worldwide by offering a more reliable, cleaner, and productive alternative.
The growth of the tight gas market has a significant impact on global energy security, sustainability, and the transition in energy. Tight gas provides energy diversification that, in turn, works to lessen reliance on oil and coal, therefore helping in lessening carbon emissions. A major implication of growth in production and supplies of tight gas is the disruption in the world natural gas markets. It has allowed developed markets as well as some emerging markets to access the resource at lower global prices. As goals are fixed to achieve international climate goals by governments and industries alike, there is increased perception that tight gas is a bridging solution in movement toward renewable power. Demand for cleaner energy choices and technologies has brought about investment into technologies that can reduce the environmental footprint of the extraction of tight gases. This extends even down to an improvement in more efficient fracturing techniques and beyond, identifying advances that lead to minimal water use or land area. Considering all the changes the demand for the Tight Gas during 2024-2032.
This section discusses the key market drivers that are influencing the various segments of the Global Tight Gas Market as identified by our team of research experts.
The worldwide tight gas market is gaining momentum, spurred by the world's growing need for energy. Growing populations, coupled with continuing industrial advancement, make the search for reliable, affordable, and diversified energy an issue. Tight gas, which is a kind of natural gas trapped in low-permeability rock formations, thus becomes an increasingly key consideration for future energy requirements because it offers an easy solution to the problems as defined.
Different from conventional natural gas, however, tight gas is one that is locked in rocks of low permeability that need hydraulic fracturing and horizontal drilling to be unlocked through advanced methods. Such technology dramatically increased efficiency and soared tight gas cleanliness and availability.
The above scenario describes higher adoption of the new methods in exploration technology, both in America and China, and now in some parts of Africa. This appearance of changing times would also mean that more and more sources are made accessible. Increasingly, tight gas is seen as a greener substitute for coal and oil, as the world veers off to cleaner energy, with the aim of reducing carbon emissions. This is quite pertinent to places trying to tick off climate goals against securing energy. Presently, it is the uptake of technologies that has broadened access to reserves, which had been previously untapped, thereby boosting market size.
Overview:
There has been a dramatic boost in the North American tight gas market, with improved hydraulic fracturing and horizontal drilling technologies-countries like the United States and Canada have emerged as giants in tight gas production, as they have huge untapped reserves in the shale formed regions such as the Marcellus, Haynesville, and Permian Basins. Even more important is the fact that this market growth has fueled a radical transformation of the energy landscape toward domestic, non-imported supply that contributes to energy security in this region.
The conditions for tight gas development in North America benefited from both regulation, supportive government policies, and significant investments-in fact, thereby, having increased the economic viability and efficiency of tapping tight gas resources to build up more domestic supply while reducing cost. Besides, increased need for cleaner energy solutions was defined through tight gas provision for a region's bridging from coal to renewable energy sources. Tight gas, because it has a relatively lower carbon footprint, is essential to reducing carbon emissions in meeting tight targets for North America and carbon reductions, compared with coal and oil.
Future wise, the tight gas market in North America will continue to grow, driven by growing production and innovative technology to make the overall development process more sustainable and efficient. Considering all the shifts the demand for Tight Gas would further grow during 2024-2032.
The Global Tight Gas market is competitive and fragmented, with the presence of several global and international market players. The key players are adopting different growth strategies to enhance their market presence, such as partnerships, agreements, collaborations, new product launches, geographical expansions, and mergers and acquisitions. Some of the major players operating in the market are Chevron Corporation, ConocoPhillips, Royal Dutch Shell Plc, Sinopec, Occidental Petroleum Corporation, Aramco, EOG Resources, British Petroleum, Exxon Mobil Corporation, PetroChina.
In 2023, Aramco, one of the world’s leading oil & gas company announced to successfully produce unconventional tight gas from South Ghawar operational area two months ahead of the schedule. Aramco has planned to produce more than half, over 2021 level by the year 2030, with the rising demand across the globe.
The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
The report presents a quick review of overall industry performance at one glance.
The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
The study comprehensively covers the market across different segments.
Deep dive regional level analysis of the industry.
The Global Tight Gas market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs; hence, feel free to connect with us to get a report that completely suits your requirements.
1. Market Introduction
2. Research Methodology or Assumption
3. Executive Summary
4. Market Dynamics
5. Pricing Analysis
6. Global Tight Gas Market Revenue (USD Mn), 2022-2032F
7. Market Insights By Type
8. Market Insights By Application
9. Market Insights By Region
10. Value Chain Analysis
11. Competitive Landscape
12. Company Profiled
13. Acronyms & Assumption
14. Annexure
Analyzing the historical market, estimating the current market, and forecasting the future market of the Global Tight Gas market were the three major steps undertaken to create and analyze the adoption of Tight Gas in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted with industry experts across the value chain of the Global Tight Gas market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry. Detailed methodology is explained below:
Step 1: In-Depth Study of Secondary Sources:
A detailed secondary study was conducted to obtain the historical market size of the Global Tight Gas market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the Global Tight Gas market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as By Type and By Application. Further regional/country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the Global Tight Gas market. Further, we conducted factor analysis using dependent and independent variables such as By Type and By Application in the Global Tight Gas market. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Global Tight Gas market sector across the globe.
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Global Tight Gas market, and market shares of the segments. All the required percentage shares split and market breakdowns were determined using the above-mentioned secondary approach and verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors, including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques, i.e., the top-down/bottom-up approach, were applied to arrive at the market forecast for 2032 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
The industry’s market size, in terms of revenue (USD) and the adoption rate of the Global Tight Gas market across the major markets domestically
All percentage shares, splits, and breakdowns of market segments and sub-segments
Key players in the Global Tight Gas market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs), including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the Global Tight Gas market. Data was split into several segments and sub-segments after studying various parameters and trends By Type and By Application in the Global Tight Gas market.
The current & future market trends of the Global Tight Gas market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Analyze the current and forecast market size of the Global Tight Gas market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments.
Segments in the study include areas By Type and By Application.
Define and analyze the regulatory framework for global Tight Gas industry.
Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
Analyze the current and forecast market size of the Global Tight Gas market for the major regions.
Major countries of regions studied in the report include North America (The US, Canada, and Rest of North America), Europe (The UK, France, Germany, Italy, Spain, Rest of Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World
Company profiles of the Global Tight Gas market and the growth strategies adopted by the market players to sustain in the fast-growing market.
Deep dive regional level analysis of the industry.
Q1: What is the current market size and growth potential of the Global Tight Gas market?
The Global Tight Gas market was valued at USD 41,355 Million in 2023 and is expected to grow at a CAGR of 5.14% during the forecast period (2024-2032).
Q2: What is the driving factor for the growth of the Global Tight Gas market?
Rising Global Demand for Natural Gas is one of the key driving factor for growth.
Q3: Which segment has the largest share of the Global Tight Gas market by Type?
Processed segment has the largest share of the Global Tight Gas market by Type.
Q4: Which region will dominate the Global Tight Gas market?
North America is expected to dominate the market during the forecast period.
Customers who bought this item also bought
Ammonia (NH3) Gas Sensor Market: Current Analysis and Forecast (2024-2032)
Emphasis on By Type (Floor-Mounted Type, and Portable Type); By Application (Agriculture, Commercial Building, Chemical, and Automotive), and Regions (North America (The US, Canada, Rest of North America), Europe (Germany, The UK, France, Italy, Spain, Rest of the Europe), Asia-pacific (China, Japan, India, Rest of the Asia-pacific), Rest of the World)
February 11, 2025
