The tight gas market will register a CAGR of almost 5% by 2022.
Technological advances in hydraulic fracturing is expected to drive growth in the market. The unconventional gas boom can be attributed to the technological and innovation breakthroughs related to EandP in the oil and gas industry.
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.
The emergence of tight gas as an unconventional source of energy has changed the landscape of energy security in several countries. many tight gas reserves face fresh water stress level as a barrier. The process of fracking is water intensive; hence, the availability of freshwater is essential for extraction of tight gas. This affects the growth of the market.
The market appears to be fragmented and with the presence of several companies including Canadian Natural and Chevron, the competitive environment is quite intense. Factors such as the advantages associated with tight gas and the technological advances in hydraulic fracturing, will provide considerable growth opportunities to tight gas manufactures.
Canadian Natural, Chevron, Exxon Mobil, Royal Dutch Shell, and YPF are some of the major companies covered in this report.