Global Tight Oil Market

Global Tight Oil Market was valued at US$ XX Mn. in 2019 and is expected to reach US$ XX Mn. by 2027.

 

Tight oil refers to crude oil trapped within low permeability reservoirs deep below the earth’s surface. The oil which is produced or extracted from tight reservoirs is similar to the oil which can be produced from conventional reservoirs, but through the application of advanced technologies which make these developments unconventional.

The report covers the detailed analysis Global Tight Oil Market with the classifications of the market on by technology, by application and by region. Analysis of past market dynamics from 2016 to 2019 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key players contribution in it.

 

The report has profiled eight key players in the market from different regions. However, report has considered all market leaders, followers and new entrants with investors while analyzing the market and estimation the size of the same.

 

Global Tight Oil Market Dynamics-

 

The surface footprint of tight oil wells is smaller as multiple wells can be drilled from a single location. This tight oil single well has the potential to access oil beneath the surface from as much as three kilometers, which makes it cost and space efficient.

 

To maintain the production and meet the ever rising global oil demand, the oil & gas companies are increasing the offshore drilling and exploration activities, which have resulted in the growth of tight oil reserves.

Use of advanced technology for the drilling and production activities have lowered the cost of activities, which have resulted in the increased investment in the tight oil market.

 

The production activity of tight oil generates harmful emissions during drilling operations. Strong government regulations to reduce harmful emissions need for the development of proper oil utilization plans in advance and imposition of penalties for companies that exceed flaring thresholds acts as restraining factors to the growth of the Global Tight Oil Market.

 

Global Tight Oil Market Segment analysis-

 

The report groups the Global Tight Oil Market in different segments by technology, by application and by region to forecast the revenues and analyze the market share of each segment over the forecast period.

 

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Based on technology, the horizontal well segment was dominant in 2019 and is expected to command the market share of xx% by 2027. Horizontal drilling provides more drainage area and the well is connected to more of the producing shale gas. Hence, more production and greater depletion are achieved by horizontal drilling, which has contributed to the growth of this segment. The multi-stage hydraulic fracturing method is employed after proper development of well in oil & gas production.

 

Based on application, the residential segment was dominant in 2019 and is expected to command the market share of xx% by 2027. A large amount of tight oil is used for space heating and water heating for residential applications. Followed by the residential segment the transportation segment is expected to boost the growth of the tight oil market as tight oil has the ability to reduce harmful exhaust emissions and provide cleaner combustion compared to conventional fuels.

 

Global Tight Oil Market Regional Insights-

 

North America is expected to command largest market share of xx% by 2027

 

The US produces 91% of all North American tight oil while the remaining 9 % from Canada. Several basins in the US lower 48 states have the potential for tight oil developments. Tight oil has increased US oil output by more than 2 million barrels a day. A high level of additional drilling has occurred in the U.S, which has increased the total tight oil production. The increase in the export of tight oil from the U.S is also contributing to the growth of the Global Tight Oil market in the region.

 

APAC is expected to command market share of xx% by 2027

 

China is the second-largest producer of tight oil with a large number of oil drilling and production activities. Improvement in resource evaluation techniques and technological advancement have contributed to the increase in the number of tight oil reserves in China.

 

The report also helps in understanding the Global Tight Oil Market dynamics, structure by analyzing the Market segments and project the Global Tight Oil Market, which gives clear representation of competitive analysis of key players by price, financial position, Material portfolio, growth strategies, and regional presence in the Global Tight Oil Market make the report investor’s guide.

 

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Scope of the Global Tight Oil Market- Inquire before buying

 

Global Tight Oil Market, by technology

 

  • Multi-Stage Hydraulic fracturing
  • Horizontal Well

 

Global Tight Oil Market, by application

 

  • Residential
  • Power generation
  • Commercial
  • Industrial
  • Transportation

 

Global Tight Oil Market, by region

 

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

 

Key players operating in Global Tight Oil Market

 

  • Chevron Corporation
  • Royal Dutch Shell PLC
  • ConocoPhillips
  • Exxon Mobil Corporation
  • PetroChina Company Limited
  • Equinor ASA.
  • Total S.A
  • British Petroleum Plc

 

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