North America Smart Trash Bin Market Size Worth $12.3 Million By 2025

The North America smart trash/garbage bin market size is estimated to reach USD 12.3 million by 2025, according to the new report by Grand View Research, Inc., expanding at a CAGR of 6.9% during the forecast period. The smart trash bins considered under the scope of the study refers to the automatic garbage bins. These touchless trash cans are sensor-based and are capable of operating without making any physical contact. The market formulated estimates the market sizing & forecasts for the automatically operated touchless garbage/trash/waste bins.

Regional manufacturers of smart trash cans are investing aggressively in product development to incorporate innovative solutions into their product portfolio. They are targeting consumers by offering attractive touchless waste disposal solutions to create lucrative opportunities for expansions. The 14 to 23 gallon capacity segment accounted for the largest market share in 2017. Availability of smart trash bins in several variants under this category and significant adoption of these products across the commercial sector is contributing to the growth of the segment.

Demand for touchless garbage bins in North American countries, particularly the U.S., has witnessed a significant growth over the past few years to generate substantial revenue. The U.S. is anticipated to continue leading the North America touchless trash bin market over the forecast period on account of growing demand for automatic garbage bins in line with the increasing awareness about hygiene and cleanliness to avoid cross-contamination of germs.

The commercial subsegment dominated the North America smart garbage bins market in 2017 The commercial end use of automatic garbage can encircles the use of touchless garbage bins in corporate offices, retail shops, hotels, restaurants, hospitals, clinics, and other public places, which include malls, multiplexes, restrooms, airports, and bus & metro stations. The demand for touchless waste bins from the residential sector is also anticipated to escalate significantly over the next seven years in line with the expanding popularity of the automatic trash bins among the residential sector, modernizing lifestyle of families, and growing awareness about maintaining clean and tidy surroundings and hygiene.

The North America region can be considered as the manufacturing hub of the automatic garbage bins, as it is the homeland to the prominent manufacturers and suppliers, such as iTouchless Houseware & Products, Inc. (U.S.), Nine Stars Group (USA) Inc., simplehuman (U.S.), Walmart, and Costco Wholesale. Moreover, these manufacturers are supplying their product worldwide through various e-commerce platforms by collaborating & partnering with the eminent e-commerce players. Hence, the e-commerce and online shopping are expected to have a positive impact on the market.

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https://www.grandviewresearch.com/industry-analysis/north-america-automatic-touchless-garbage-bin-market

Further key findings from the report suggest:

The 8 to 13 Gallon subsegment is anticipated to portray substantial growth over the forecast period.
The residential end-use sub-segment is projected to witness the highest CAGR over the forecast period.
The U.S. market dominated the overall North America regional market in terms of revenue as well as shipments.
The increasing awareness about maintaining a hygienic lifestyle and avoiding cross-contamination of germs is prompting households to adopt modern and advanced appliances, including touchless garbage bins.
The convenience of hands-free operation while disposing the waste without spilling is driving the North America smart garbage bin market
Key industry participants include Ausko Pte Ltd. (Singapore), Nine Stars Group (USA) Inc. (U.S.), iTouchless Housewares & Products, Inc. (U.S.), simplehuman (U.S.), and HANGSHAU Houseware Co., Ltd. (China).

LED Lighting Market Size Worth $127.04 Billion By 2027

The global LED Lighting market size is expected to reach USD 127.04 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.4% over the forecast period. The LED lighting offers benefits such as energy efficiency, cost-saving, longer service life, lower heat emission, and nanosecond switching capability, fueling the product demand in the market. Advantage of directional controlled light is anticipated to further drive the demand. Technological advancements and availability of numerous design options for fixtures and lamps due to compact shape and features, such as daylighting, occupancy senor, dim-ability, and timer, are anticipated to positively influence the growth. The energy conservation policy introduced by governments across the world, providing incentives, and attractive rebates for individuals and organizations in commercial and industrial spaces has further contributed to market growth.

LED lighting is widely adopted across commercial and industrial space as the LED lights contribute towards delivering maximum visibility for an appropriate work environment. The introduction of LED in the lighting industry readily became an accepted standard for lighting for commercial and industrial buildings. Moreover, technological advancements such as connected and app-controlled lighting proved to be vital for boosting the market growth. Improvements in lighting technology have led to the emergence of flicker-free LED products, which is appropriate for uninterrupted bright light for application areas such as classrooms, hospitals, and offices, among other spaces. The demand across the residential sector is expected to bolster with the development of smart cities providing lucrative growth opportunities for prominent market players.

The pandemic due to COVID-19 has affected the industries across the world and severely impacted the business functions. The need for a lockdown has adversely impacted the businesses leading to reduced employee strength and forced companies to practice social distancing across countries. The demand for indoor and outdoor general lighting is declining owing to the reduced spending capacity of individuals and budget constrain across industries such as retail, manufacturing, and other businesses as they are incurring losses. The delay in construction projects is another concern for LED lighting vendors, which has led to a decline in the performance for the first quarter of the year 2020. The market is expected to recover post-pandemic and achieve positive revenue growth by the end of 2021.

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https://www.grandviewresearch.com/industry-analysis/led-lighting-market

Further key findings from the report suggest:

LED Lighting is estimated to grow at a CAGR of 13.4% over the forecast period 2020 to 2027. The higher demand for illuminating the commercial and industrial space as per the aesthetics of the rooms for better visibility at an affordable price has driven the market growth over the forecast period.
The lamp segment is anticipated to witness the highest growth of a CAGR of 14.5% over the forecast period. The demand is primarily driven by the residential sector owing to encouraging government policies and initiatives.
The Asia Pacific region is expected to dominate the market during the forecast period is anticipated to grow at a CAGR of 14.6% from 2020 to 2027

Video Surveillance & VSaaS Market Size Worth $48.95 Billion By 2020

The Global video surveillance & VSaaS market size is expected to reach USD 48.95 billion by 2020, according to a new study by Grand View Research, Inc. Growing number of security concerns on a global level coupled with increased investment in sophisticated surveillance network development is expected to drive the market. Increased demand for traffic surveillance and intrusion detection is also expected to propel market growth over the next six years.

Technological advancement has led to the development of improved surveillance cameras and related devices. Declining IT costs and centralized data management are expected to positively impact the video surveillance & VSaaS market. Privacy concerns associated with public surveillance may restrain the market growth. Implementing big data analytics solutions is expected to provide viable growth opportunities to companies operating in the market. Mobile video surveillance allows real-time data viewing, which presents growth potential to the video surveillance market.

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Further Key Findings from the Report Suggest:

IP-based systems are expected to gain market share over the forecast period, which can be attributed to benefits such as superior image resolution and integrated analytics engines. The demand for analog systems is expected to remain robust in the price-sensitive consumer segment.
Hardware accounted for the majority of the market share in 2013 and is expected to remain the leading component segment over the forecast period. Key hardware products include cameras, recorders, and storage devices; the need for efficient security in public venues and sporting events is expected to drive global surveillance cameras demand. The services segment that includes hosted, managed and hybrid services is expected to witness high growth over the next six years.
Transportation and retail are expected to remain the major application segments over the forecast period. The need for traffic regulation and controlling theft and vandalism activities in public transport are expected to drive market growth. Video surveillance proves effective for deterring crime and curbing business losses, which is expected to fuel the retail segment.
North America was the largest regional market in 2013 and is characterized by the presence of several industry participants. Asia Pacific is expected to gain market share over the forecast period; this is mainly due to the growing installation of surveillance devices in China and India, along with increased infrastructure spending in the region.
Key market players include Hikvision Digital Technology, Axis Communications, Honeywell, Cisco, Bosch Security, etc. Companies enter into strategic alliances and focus on product innovation in order to gain market share. Focus on providing VSaaS solutions and investing in emerging markets are other strategic initiatives.

Air Conditioning Systems Market Worth $195.65 Billion By 2025

The global air conditioning systems market size is expected to reach USD 195.65 billion by 2025, registering a CAGR of 9.9% from 2019 to 2025 according to a study conducted by Grand View Research, Inc. Factors such as increasing international tourism, growing consumer spending on home improvement, and introduction of energy-efficient systems, coupled with the rising popularity of green cooling concepts, are expected to drive the market growth over the forecast period.

Global events usually pave the way for extensive construction projects, such as the establishment of new buildings and improvement of existing infrastructure. These projects aim at accommodating and catering to the needs of international tourists & visitors or working professionals and providing them enhanced facilities. For instance, the 2020 Summer Olympics event, expected to be held in Tokyo, is expected to drive the construction and development of ample commercial, residential, and lodging spaces in the city before the event commences. Similarly, in Dubai, the government is expected to make significant investments in infrastructure development to accommodate the large number of visitors expected to be attending the Expo 2020, a universal exposition. This, in turn, is creating an increased demand for air conditioners.

The competitive landscape of the market is highly consolidated and characterized by high competition with the presence of key players such as Carrier Corporation, Haier Inc., Electrolux, Ingersoll-Rand plc, and DAIKIN INDUSTRIES, LTD. These players are engaged in mergers and acquisitions to enhance their market presence. For instance, in January 2018, Ingersoll Rand plc and Mitsubishi Electric Corporation signed a contract to create a joint venture to enhance the marketing, sales, and distribution of VRF and ductless heating and air conditioning systems. Under the partnership, the companies will distribute their products under the American Standard and Trane brands using the latter’s corporate logo and the former’s distribution channels.

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Further key findings from the report suggest:

The Packaged Terminal Air Conditioners (PTAC) segment is expected to register a CAGR of over 4.0% from 2019 to 2025 in terms of volume. This growth of the segment can be attributed to their increasing adoption in hospitality and residential sectors
In terms of technology, the inverter segment is expected to experience significant growth over the forecast period owing to its ability to control the speed of the compressor motor, which helps in continuous regulation of temperature. This variable speed compressor helps in saving 50% more energy and power as compared to non-inverter air conditioners
The commercial end-use segment accounted for nearly 20% of the overall market share in 2018. The segment is also anticipated to witness substantial growth over the forecast period owing to the rapid industrialization in various North American and European countries
The air conditioning systems market for North America is expected to exhibit a CAGR of over 6% from 2019 to 2025 in terms of revenue. With high penetration of air conditioners in developed economies such as the U.S., the region is expected to experience growth owing to increasing demand for replacement and refurbishment of existing systems.

Smart Air Purifier Market Worth $4.71 Billion By 2025

The global smart air purifier market size is expected to reach USD 4.71 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 12.2% during the forecast period. Rising efforts to eradicate airborne diseases and to maintain clean and healthy environment are anticipated to drive the growth. Rise in pollution levels across the world is a major factor driving the demand for anti-pollution products including smart air purifiers.

Smart air purifiers help monitor and control the air quality through a smartphone enabled app which also provide live reading of air quality data. The products also help track indoor air quality over a period of time enabling consumers to observe the time of the day with the best and worst air quality. Air purifiers are used to eliminate dust, dust mites, mold, pet dander, smoke particles, vehicle exhaust, cooking smoke, and gaseous pollutants among others in a specific area. Rising smoke and PM2.5 levels are anticipated to drive the demand for air filtration and purifier products.

According to the World Health Organization (WHO), indoor and outdoor air pollution together lead to around 7 million premature deaths every year. Indoor air pollution leads to around 3.8 million premature deaths every year. These figures highlight the importance for air purifiers as an aid to reduce the impact of indoor air pollution. Manufacturers are constantly striving to launch new and innovative products to meet the growing product demand.

High Efficiency Particulate Air (HEPA) filter technology held a market share of 85.4% owing to the effectiveness of the technology across residential as well as commercial segment. These filters are small, portable, and usually work for a single-room space. These air filters can eradicate 99.97% of pollution particles.

Commercial application segment is expected to witness highest growth at a CAGR of 12.3% from 2019 to 2025 owing to rising investments by the key players. According to study from Harvard, people working in well ventilated areas with minimal level of indoor pollutants have higher cognitive functioning compared to offices with typical pollutant levels. Improved air quality also results in increased productivity. Rising focus on reducing carbon footprint of commercial buildings is anticipated to play a major role in driving the growth of this segment.

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https://www.grandviewresearch.com/industry-analysis/smart-air-purifier-market

Further key findings from the report suggest:

In terms of regional revenue, Asia Pacific held the largest share of the smart air purifier market In 2018
HEPA filter segment is expected to expand at a CAGR of 12.3% due to rise in demand from the residential segment
Commercial application category held a market share of about 33.0% in terms of revenue in 2018
The market is highly competitive in nature with the presence of key players including Honeywell International Inc.; Koninklijke Philips N.V.; Sunbeam Products, Inc.; Xiaomi Corporation; Blueair; COWAYCO.,LTD.; Whirlpool; Americair Corporation; and Sharp Corporation

Smart Bed Market Size Worth $3.1 Billion By 2027

The global smart bed market size is anticipated to reach USD 3.1 billion by 2027, expanding at a CAGR of 4.5%, according to a new report by Grand View Research, Inc. Rising prominence for gaining a healthy sleep through the infusion of sensor-based advanced technology is the growing demand for smart beds. In addition, rising penetration of smart homes across regions is also paving way for technologically integrated household products, thereby paving the way for increased growth of the market.

The rapid development of smart home technology and their penetration across developed nations of America and Europe is positively impacting the demand for the product. According to the European Commission in 2017, Europe’s smart home revenue is expected to reach USD 19.0 billion by 2021, through its massive markets in the U.K. and Germany. Additionally, useful features compiled in the product such as customized mattress firmness that can sense and react to body temperature, tracking breathing, heart rates, and restfulness is gaining consumer’s attention.

Increasing instances of sleeping disorders among individuals particularly in the U.S. is deriving higher traction in the industry. According to American Sleep Association (ASA), insomnia is the most common sleep disorder, with short term issues reported by about 30.0% of adults and chronic insomnia by 10.0% in the country as of December 2019. In addition, 37.0% of those among 20-39-year-olds, and 40.0% of those among 40-59-year-olds expressed short sleep duration. While 35.3% of adults reported less than 7 hours of sleep during a typical day. These instances have raised the need for healthy and quality duration of sleep among consumers, thereby driving product demand in various application segments including households, hospitals, and hospitality.

In terms of application, the residential segment held a dominant position in the market in 2019. Lifestyle inflation among low, middle as well as high-income individuals are paving the way for increased spending among consumers towards relaxation and comfort, thereby scaling the demand for smart beds. Also, new innovations led by manufacturers in the industry with new product launches are likely to ramp up the sales for the product. For instance, in February 2019, Eight Sleep introduced a new biometric-monitoring smart bed.

The specialty stores segment accounted for a dominating revenue-based share of 66.5% in 2019. These stores provide training to their employees to assist customers and few of them also offer price-matching guarantees. In addition, major retail chains are focusing on establishing new stores with innovative layout, which is projected to support the growth of this segment in the coming years.

North America dominated the market with a revenue share of 60.2% in 2019. Increasing penetration of home automation in the region is also boosting the demand for smart furniture such as smart beds. According to the European Commission in 2017, smart home revenue in the U.S. is expected to grow over three-fold between 2016 and 2021, exceeding USD 32.0 billion. Additionally, various sleep-related disorders prevalent in the U.S. is triggering higher demand for quality sleep patterns among individuals. According to the American Sleep Association, 50-70 million adults in the U.S. have a sleep disorder. Also, around 25.0 million adults in the U.S. have obstructive sleep apnea.

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https://www.grandviewresearch.com/industry-analysis/smart-bed-market

Further key findings from the study suggest:

The hospital application segment is expected to reach USD 628.4 million by 2027 and is anticipated to witness a CAGR of 5.2% from 2020 to 2027
The specialty stores segment was valued at USD 1.4 billion in 2019 and is expected to reach USD 2.1 billion by 2027
In Asia Pacific, the market is expected to witness substantial growth over the forecast period with a revenue-based CAGR of 5.6% from 2020 to 2027.

Atmospheric Water Generator Market Worth $8.9 Billion By 2027

The global atmospheric water generator market size is expected to reach USD 8.9 billion by 2027, expanding at a CAGR of 19.5%, according to a new report by Grand View Research, Inc. Increasing consumer demand for atmospheric water generator (AWG) in industrial and commercial applications is expected to drive the market.

Moreover, depleting freshwater reserves, particularly in Asia Pacific and Latin America region is anticipated to further propel market growth. Furthermore, various characteristics offered by AWGs such as high purity water output, and easy transport are expected to drive their demand in military applications over the forecast period.

Growing demand for AWGs to replace traditional supply units such as water pipelines, especially at industrial and commercial workplaces, is likely to open new avenues for the industry over the forecast period. However, high capital cost and energy consumption associated with the product are expected to hinder market growth.

The water output offered by AWGs primarily depends on the humidity and temperature of the surrounding environment, which affects the performance efficiency of the system. Product innovations to reduce the cost and improve its efficiency are expected to propel the AWG market over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/global-atmospheric-water-generator-market

Further key findings from the study suggest:

Cooling condensation accounted for 98.9% revenue share in 2019 on account of its high output coupled with less complex mechanism when compared to wet desiccation technique
The residential application segment, in terms of revenue, is expected to witness a CAGR of 16.7% from 2020 to 2027 owing to rising disposable incomes coupled with product innovations is expected to drive the demand for AWGs in the segment
The product demand in Latin America, in terms of volume, is likely to witness a CAGR of 17.7% owing to depleting freshwater resources coupled with uneven geographical distribution of freshwater resources, and inadequate water supply infrastructure
The product demand in India is anticipated to reach USD 302.9 million by 2027 owing to the rapid industrial growth coupled with increasing construction and manufacturing activities in the country
In January 2020, Energy and Water Development Corp., (EAWD) sold its self-sufficient energy supply AWG system to a Mexican company engaged in manufacturing bottled water.

Liquid Applied Membrane Market Worth $6.92 Billion By 2022

The global liquid applied membrane market is expected to reach USD 6.92 billion by 2022, according to a new report by Grand View Research, Inc. Technical advancements in liquid applied membrane, when compared to traditional systems, allow benefit in terms of cost reduction, better planning, and overall concrete protection. Liquid applied membranes have immense market potential on account of flexibility, making them ideally suited for application in water and waste management systems.

European Commission announced favorable prices governing the production of natural based polymer products such as biopolymers, thereby enabling major players in the liquid applied membrane market to provide environment-friendly solutions. Developing markets of Asia Pacific and Europe are expected to account for over 50.0% share in global waste and water management industry, further augmenting market demand for liquid applied membrane. Governments of various developing and developed nations have comprehended the dual need for infrastructure development, coupled with sustainability and durability. This is driving the demand for green buildings, consequently generating a vast market opportunity for the liquid membranes market.

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http://www.grandviewresearch.com/industry-analysis/liquid-applied-membrane-market

Further key findings from the report suggest:

Cementitious membrane accounts for a significant share owing to increased availability of polymer reinforced membranes which allow superior quality at affordable cost. These membranes can withstand high negative as well as positive hydrostatic pressure and provide excellent bonding to concrete, which facilitates high-quality waterproofing. The segment is expected to grow at a CAGR of 6.4% from 2015 to 2022.
Polyurethane membrane is expected to witness rapid growth in demand on account of its superior properties including ease of application, resistance to UV radiation, water vapor permeability, easy repair & maintenance, and high mechanical strength. Companies have been increasingly developing polyurethane based membranes to meet rapidly growing demand. These accounted for over 12.0% of the global market in 2014 in terms of revenue.
Roofing application dominated the market in 2014 and accounted for over 28.0% of total revenue share. Excellent physical and chemical properties of liquid applied membrane coupled with rapid infrastructural development worldwide are expected to increase penetration in this segment over the forecast period.
Residential segment is expected to be the major end-use on account of rising urban population and increasing infrastructure investment by governments. Asia Pacific is expected to witness rapid growth in this segment on account of growing trend of nuclear families in the region.
Asia Pacific market demand was over 250.0 million square meters and is expected to rise on account of increasing requirement to an elongate life of building structures and protect the infrastructure during severe environmental conditions. Governments have been investing increasingly in the protection of historical monuments which is expected to propel growth over the forecast period. In addition, increasing urban population in the region is expected to facilitate residential construction, thus driving demand for the product over the forecast period.
Europe accounted for over 30.0% of the global market size and is expected to witness significant growth over the coming years. The revival of European construction industry with rapid growth in demand from the UK, Germany, and Nordic countries is expected to propel liquid applied waterproofing utilization in the region over the forecast period. The construction industry in Eastern European countries including Hungary, the Slovak Republic, and Poland has also witnessed moderate growth over the past years and is expected to have a positive impact on liquid applied membrane demand over the next seven years.
Key market players highly rely on R&D for new product development to sustain competition. The other major strategies include joint ventures and acquisitions & mergers. In April 2014, INGE GmbH, a subsidiary of BASF SE, entered into a strategic, contractual agreement with Aquasource to synergistically improve their waterproofing solutions. In August 2013, Pidilite Industries Ltd. acquired Suparshva Business Limited to expand its adhesive business.

Exterior Architectural Coating Market Worth $39.04 Billion By 2024

The global exterior architectural coating market is expected to reach USD 39.04 billion by 2024, according to a new report by Grand View Research, Inc. Functional superiorities including weather and moisture resistance, better aesthetics and long lasting adhesion is expected to fuel market growth over the next eight years. Furthermore, rising government spending in Asian countries on infrastructure development will augment industry expansion.

Growing demand for waterborne technology over traditional coatings, as it is cheaper and eco-friendly, will drive market growth. The introduction of green coatings coupled with the increasing usage of nanocoatings will create immense opportunities for growth over the next eight years.

Primer is expected to witness high revenue gains at a CAGR of 6.4% from 2016 to 2024 as it acts as a protector and leveler for other products including enamel and emulsions. The revenue generated by the use of exterior architectural coatings in the non-residential sector was valued at USD 8.20 billion in 2015 and is expected to witness rise on account of growing FMCG, IT, telecom and retail sector in MEA and Asia Pacific. Moreover, rapid industrialization, increasing FDI and government infrastructure spending will promote market growth.

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http://www.grandviewresearch.com/industry-analysis/exterior-architectural-coating-market

Further key findings from the report suggest:

The global demand for exterior architectural coatings was 7.12 million tons in 2015 and is expected to show high gains in light of rapid infrastructural development in India, Saudi Arabia, Thailand, Indonesia and the U.S.
Alkyd resin will witness high volume growth at a CAGR of 5.3% from 2016 to 2024. Growing usage of alkyd resins in light of their high durability and superior gloss is expected to stimulate industry growth. Furthermore, rising consumption in outdoor applications owing to its low cost along with high-temperature resistance will fuel its demand over the forecast period.
North America accounted for 22.6% of the global volume share in 2015 and is expected to witness significant gains in light of rising reconstruction activities in the U.S. coupled with infrastructure development in Canada and Mexico. Furthermore, the implementation of the National Infrastructure Program 2014 – 2018 (NIP) in Mexico is expected to promote the product growth over the forecast period.
Latin America is projected to witness substantial revenue growth at a CAGR of 6.4% from 2016 to 2024 owing to the presence of various participants including BASF, Sherwin-Williams, and AkzoNobel. Increasing government efforts to offset Brazil’s housing deficit, and provide low-interest rates for housing will stimulate product demand over the forecast period.
Exterior architectural coatings industry is dominated by major participants including PPG Industries, Nippon Paint, BASF, AkzoNobel, and Sherwin-Williams. Ongoing product innovation to produce high-performance and cost-efficient waterborne coatings is expected to industry expansion over the next eight years. For instance, in March 2015, BASF expanded their color range and production capacity for Paliocrom products to cater to the increasing demand for high-end effect pigments in coatings. BASF is expected to widen the capacity by more than 20% by 2017 for Paliocrom effect pigments.

Tight Gas Market Demand To Reach 15,452.3 BCF By 2027

The global tight gas market demand is expected to reach 15,452.3 billion cubic feet (BCF) by 2027, ascending at a CAGR of 5.02% from 2020 to 2027, according to a new report by Grand View Research, Inc. The rise in government policies for clean fuel production, along with the deployment of advanced drilling technologies across several countries, is likely to drive the market over the forecast period.

Tight gas, a form of natural gas, is regarded as a reliable energy source for power generation and occupies the second-largest share of energy supply in the global electricity generation after coal. The share of tight gas is bound to increase over the coming years in response to the environmental and economic limits of coal generation, at least in countries where natural gas is a viable alternative. This heavy end-use application is expected to positively influence the tight gas industry landscape.

The tight gas supply chain includes production and processing, gas transmission and storage, and distribution to large volume customers, residential customers, and commercial customers. The convergence of multi-stage hydraulic fracturing and horizontal drilling has enabled the industry participants to produce natural gas from tight formations in an economic manner. The development of these advanced techniques is expected to strengthen the upstream segment of the supply chain.

Stable regulatory and fiscal policies, adoption of advanced technologies, decreasing drilling and well completion costs, along with growing investments from international market players, are among the key factors for sustaining the competitiveness of the tight gas industry. Moreover, the profitable production of tight gas depends on the accessible demand markets for it, such as electricity generation, industrial thermal sector, building thermal sector, and others.

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https://www.grandviewresearch.com/industry-analysis/tight-gas-industry

Further key findings from the report suggest:

The industrial application segment accounted for the largest market share in 2019 owing to utilization of tight gas in various applications in industries such as for production of fertilizers, chemical plants, iron and steel plants, and in various other industries
The power generation application segment is expected to expand at the fastest growth rate in the forecast period owing to rise in environmental concerns regarding coal-based power generation plants, coupled with major countries around the world switching towards natural gas-based power generation plants
North America occupied a dominant market position in 2019, with the U.S. being touted as the major contributor across the region. Development of advanced drilling technology, along with the presence of abundant tight gas reserves, is anticipated to propel the market growth over the forecast period in the region
The rest of the world is expected to witness the fastest growth over the forecast period. Countries such as China and Argentina are expected to dominate the region over the forecast period owing to the presence of favorable policies and financial support from the government for tight gas development
The transportation application segment is estimated to expand at a significant CAGR over the forecast period owing to rise in environmental concerns regarding the usage of diesel and gasoline fuel, coupled with a rise in the adoption of compressed natural gas (CNG) fueled vehicles in major countries around the world.