Government support in the form of tax holidays and financial benefits expected to remain a driving factor for the market
San Francisco, California (PRWEB) March 19, 2014
Global tight gas market is expected to reach USD 59.40 billion by 2020, growing at a CAGR of 3.6% from 2014 to 2020. Depleting conventional natural gas reservoirs around the world has prompted the industry to develop unconventional reserves which is expected to remain a key factor driving the market for tight gas. In addition, government support in the form of financial incentives and tax holidays is also expected drive the market over the forecast period. Favorable regulatory scenario in China, coupled with government initiatives to increase tight gas and CBM production is expected to drive market demand over the next six years. However, high costs associated with drilling and completion of tight gas reserves and environmental concerns caused due to hydraulic fracturing are expected to be a key challenge for market participants in the coming years.
The report “Tight Gas Market Analysis and Segment Forecasts to 2020,” is available now to Grand View Research customers at http://www.grandviewresearch.com/industry-analysis/tight-gas-industry
Inquiry Before Buying @ http://www.grandviewresearch.com/inquiry/42
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.
Browse All Conventional Energy Market Research Reports @ http://www.grandviewresearch.com/industry/conventional-energy
For the purpose of this study, 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
Regional coverage of the database includes:
- North America
Direct link for sample request of this report - http://www.grandviewresearch.com/request/42
Related Market Research Published By Grand View Reserach:
Shale Gas Market Trends, Analysis And Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/shale-gas-industry) The global market for shale gas is expected to reach USD 67.02 billion by 2020, according to a new study by Grand View Research, Inc. Depleting conventional energy reserves across the globe has prompted the industry to shift focus towards developing alternative energy sources which is expected to remain a key driving factor for shale gas demand over the next six years. In addition, regulatory support for developing unconventional gases including shale gas is also expected to enhance commercialization over the forecast period.
Specialty Fuel Additives Market Analysis And Segment Forecasts To 2020 (http://www.grandviewresearch.com/industry-analysis/specialty-fuel-additives-industry) The global market for specialty fuel additives is expected to reach USD 8,517.6 million by 2020, according to a new study by Grand View Research, Inc. Dynamic regulatory trends, particularly in North America and Europe has prompted fuel marketers to use specialty fuel additives which is expected remain a key driving factor for the market over the forecast period. In addition, ban on MTBE in the U.S. is expected to further push the demand for fuel additives over the next six years. However, emergence of alternative fuel such as autogas (LPG) and CNG owing to eco friendly characteristics is expected to hamper the market growth over the next six years.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, 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 energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519