Global tight gas market is expected to experience significant growth
over the forecast period owing to shift in focus toward unconventional
gases. Tight gas is an unconventional gas explored through hydraulic
fracturing with low permeability. Global tight gas market is expected to
experience momentous growth over the next six years owing to increasing
usage in residential, commercial, power generation, transportation, and
industrial. Growing energy demand on account of increasing population
is expected to be the major factor driving the market over the
foreseeable period.
Increasing tight gas demand in industrial market is projected to have
positive impact on global market in near future. China is expected to
be the leading regional market on account of increasing drilling
activities across the region. Chinese government provide subsidiaries
and tax benefits for the tight gas exploration in the region. This trend
is projected to drive the tight gas market over the forecast period.
Increasing R&D, commercialization, and exploration activity is
further expected to complement the market over the next six years.
Technological advancement has led to an ease of extraction of tight gas.
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This advantageous factor is anticipated to have positive impact on
the market over the next six years. Increasing oil prices across the
globe has led to think of alternate source of energy. This shift in
focus toward unconventional gases is expected to drive the market over
the foreseeable period. Shale gas exploration in U.S. may pose threat to
the market participants in this region. However, stringent government
regulation regarding shale gas exploration is likely to propel the tight
gas market over the next six years. Increasing drilling activity in
Oman and Argentina is expected to support the tight gas exploration in
near future.
Power generation is the leading application segment of tight gas.
Growing energy demand across the globe has been the major factor driving
the shale gas market over the recent past, and expected to continue
over the next six years. Reduced oil level in reservoir and necessity to
find alternate source of energy is likely to fuel the market growth
over the forecast period. Transportation is the major application
segment of tight gas market. Increasing natural gas usage in
transportation as an alternate source of energy is expected to
complement the market growth.
North America was the leading regional market in 2012. However, shale
gas emerged as an alternate form of natural gas over the recent past,
and is likely to hamper the tight gas market in near future.
Environmental concern regarding shale gas exploration coupled with
stringent government regulation is expected to have positive impact on
tight gas market in Europe. Growing automotive industry in Europe
coupled with shift in focus toward unconventional gases is expected to
be the major factor driving the market in this region.
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Large number of untapped reserves to be explored in China is likely
to create an opportunity for the market participants in Asia Pacific.
Foreign companies are investing heavily to enhance technique for tight
gas exploration. This initiation is expected to drive the market in Asia
Pacific region over the forecast period. With an aim to ramp up tight
gas, Chinese government is investing heavily in building infrastructure.
This movement is expected to drive the Asia pacific market over the
forecast period. Increasing drilling activities in Middle East and
Africa is likely to complement the market growth in RoW region.
Global tight gas market is competitive in nature and highly dominated
by top players. Major players such as shell and Total AS are actively
involved in tight gas exploration. Some key players operating in the
global market include shell, Total SA, Sinopec, PetroChina, British
Petroleum, ExxonMobil, and Anadarko among others.
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