Tight Gas Market on Track for Strong Growth, Estimated to Grow at 6% CAGR Through 2029

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What Is the Expected CAGR for the Tight Gas Market Through 2025?
In recent years, the size of the tight gas market has experienced significant growth. The market size will increase from $40.9 billion in 2024 to $43.48 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.3%. The expansion in the historical period is due to factors such as increased energy demand, high prices of natural gas, incentives from the government, dwindling conventional gas reserves, enhanced infrastructures, and surge in worries about energy security.

What's the Projected Size of the Global Tight Gas Market by 2029?
The market size of tight gas is projected to experience robust growth in the forthcoming years, potentially reaching $54.98 billion in 2029 with a compound annual growth rate (CAGR) of 6.0%. Factors contributing to this growth during the forecast period include increased global energy demand, advantageous governmental policies promoting unconventional gas development, higher investment in shale basins, enhanced pipeline infrastructure for gas, and carbon emission reduction efforts promoting the usage of cleaner fossil fuels, coupled with the fluctuation of global LNG prices. Key trends during the forecast period comprise the progress in horizontal drilling, the incorporation of hydraulic fracturing, breakthroughs in digital oilfield technologies, refined reservoir characterization, and the inclusion of AI-based reservoir analytics.

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Top Growth Drivers in the Tight Gas Industry: What's Accelerating the Market?
The burgeoning need for energy is anticipated to stimulate the expansion of the tight gas market. Energy is defined as the ability to perform tasks or effect change, and it exists in diverse forms including thermal, electrical, chemical, nuclear, and mechanical. A growing global population has led to an escalation in energy demand as the needs for electricity, heating, and transportation amplify. Tight gas serves to satisfy this escalating energy demand by supplying a substantial and dependable source of natural gas derived from rock formations with low permeability. For example, the International Energy Agency (IEA), a French-based intergovernmental organization, revealed in July 2024 that the global demand for electricity saw a rise of 4% in 2024, an increase from the 2.5% growth rate in 2023. Consequently, the swelling energy demand is fueling the expansion of the tight gas market.

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What Trends Will Shape the Tight Gas Market Through 2029 and Beyond?
In efforts to increase extraction efficiency, minimize operational costs, and heighten access to previously unreachable reserves, dominant firms in the tight gas market are placing emphasis on the evolution of unconventional tight gas production as a solution to meet the rising global demand for energy. Unconventional production employs sophisticated techniques to harvest oil and gas from underground formations that are difficult to access using traditional drilling approaches. For example, November 2023 saw Saudi Aramco - a petroleum firm based in Saudi Arabia - initiate its unconventional tight gas production from its South Ghawar operational base. This is a distinctive milestone as it signifies the firm's foray into large-scale unconventional gas production, veering away from its historically oil-focused operations. The initiative stands apart due to its use of high-tech hydraulic fracturing and horizontal drilling technologies designed for the hard-to-drill, low permeability rock formations in South Ghawar. Supporting Saudi Arabia's larger ambition, this tight gas strategy is to utilise more gas for domestic power generation, liberate more oil for export, and mitigate carbon emissions.

What Are the Main Segments in the Tight Gas Market?
The tight gas market covered in this report is segmented -

1) By Type: Conventional Tight Gas, Shale Gas, Coal Bed Methane
2) By Investment Type: Exploration And Development, Production And Transportation, Storage And Distribution
3) By Extraction Method: Hydraulic Fracturing, Horizontal Drilling, Enhanced Recovery Techniques
4) By Application: Residential, Commercial, Industrial, Transportation, Power Generation

Subsegments:
1) By Conventional Tight Gas: Onshore, Offshore
2) By Shale Gas: Horizontal Wells, Vertical Wells
3) By Coal Bed Methane (CBM): Exploration And Production, Storage And Distribution

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Which Top Companies are Driving Growth in the Tight Gas Market?
Major companies operating in the tight gas market are Saudi Arabian Oil Company, PetroChina Company Limited, China Petroleum & Chemical Corporation, Exxon Mobil Corporation, TotalEnergies SE, BP p.l.c., Chevron Corporation, Equinor ASA, ConocoPhillips Company, Repsol SA, EOG Resources Inc., Pioneer Natural Resources Company, Devon Energy Corporation, YPF S.A., Ovintiv Inc., Continental Resources Inc., Southwestern Energy Company, Range Resources Corporation, Valeura Energy Inc., Chesapeake Energy Corporation.

Which Regions Will Dominate the Tight Gas Market Through 2029?
North America was the largest region in the tight gas market in 2024. The regions covered in the tight gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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