Press release
Tight Gas Market Predicted to Accelerate Growth by 2021 - 20231
The global tight gas market is expected to experience significant growth during the forecast period, owing to a shift in focus toward unconventional gases. Tight gas is a type of natural gas with low penetrability that is produced from reservoir rocks. Massive hydraulic fracturing is required to produce the well for tight gas due to low matrix permeability of less than 0.1 millidarcy (mD). Tight gas is one of the cleanest burning fossil fuels, as it has low carbon content and burns with lower sulfur emissions, metal compounds, and carbon dioxide. Tight gas refers to natural gas reservoirs locked in impermeable, rock, making the underground formation extremely tight. In addition, tight gas can be trapped in sandstone or limestone formations that are atypically impermeable or nonporous.Access the Full Report @ https://www.alliedmarketresearch.com/tight-gas-market-A07248
COVID-19 scenario analysis
With the outbreak of COVID-19, the tight gas demand is experiencing a considerable decrease. Owing to the lockdown, a dearth has been observed in the number of laborers, which is further disrupting the production of gas. Furthermore, the imposition of the lockdown is directly affecting transportation services all around the world. Power generation has become a major issue due to the unavailability of tight gas. This has further led to an increase in issues of power cuts in rural areas. Moreover, the tight gas industry is facing daily losses with a decline in production. In addition, the enforcement of the lockdown has affected the import and export of tight gas across the globe.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Tight gas has several applications that make it an essential resource, which is expected to create potential growth opportunities for the growth of the global tight gas market. Numerous countries are decarbonizing their power mix by shifting to renewable energy that has controlled carbon dioxide emissions. Fuels such as natural gas and bio-methane are considered potential alternatives to fossil fuels to reduce the environmental impact of transportation. Environment issues, manpower limitations, and access to drilling locations are some of the constraints of this market.
The surge in usage in tight gas applications
Applications in the natural gas industry have been growing considerably. Flammable gas is utilized as a vitality fuel in transportation and local areas. The transportation division has supported the gaseous petrol showcase, with ascend in the arrangement of CNG vehicles. In excess of 24 million flammable gas vehicles (NGVs) were operational across the globe in 2017. Petroleum gas can be utilized in all classes of vehicles, for example, cruisers, vehicles, vans, light & transports, lift trucks, and trains. Thus, all these factors collectively contribute to the growth of the global market.
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Market Key Segments:
By Type
• Processed Tight Gas
• Unprocessed Tight Gas
By Application
• Residential
• Commercial
• Industrial
• Power Generation
• Transportation
• Others
By Region
• North America (US, Canada)
• Europe (Germany, the UK, France, rest of Europe)
• Asia-Pacific (China, Japan, India, rest of Asia-Pacific)
• LAMEA (Brazil, South Africa, rest of LAMEA)
Key Market Players: British Petroleum, Royal Dutch Shell, Exxon Mobil and Chesapeake Energy Total SA, Sinopec, PetroChina and Anadarko Petroleum Co., Marathon Oil, Pioneer Natural Resources, Devon Energy, EOG Resources
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Key benefits of the report
• This study presents the analytical depiction of the global tight gas industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a
detailed analysis of the global market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the market growth scenario.
• Porter's five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed market analysis depending on the competitive intensity and how the competition will take shape in the coming years.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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