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
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Further key findings from the study suggest:
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For the purpose of this study, Grand View Research has segmented the global tight gas market on the basis of application and region:
Regional coverage of the database includes:
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