Coal bed methane (CBM) is produced in association with coal beds/coal seams. CBM reserves are located wherever large deposits of coal are found.
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The global coal bed methane market is expected to reach $17,956 million by 2023 from 9,089 million in 2016, registering a CAGR of 9.0% from 2017 to 2023.
It is formed through organic decomposition and adheres to the many surfaces of the coal until it is released through natural or man-made processes.
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The reduction in methane emissions associated with conventional fuels and coal mining, lesser price of CBM compared to other unconventional natural gases, and generation of direct and indirect employment in the extraction of CBM drive the global coal bed methane market growth. However, the large initial capital requirement for well drilling, stimulation, and water handling, and the difficulty in estimation of recoverable volumes in evaluation of CBM proposals hamper the market growth.
Moreover, reduction in the water management costs in CBM extraction projects is expected to be a key challenge for the market growth.
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The global coal bed methane market is segmented based on application and geography. The application segment is classified into industrial, power generation, transportation, commercial, and residential.
Geographically, it is analyzed across North America, Europe, and Asia-Pacific.
In 2016, North America occupied the largest market share, followed by Asia-Pacific. North America is expected to dominate the global CBM market by 2023, though substantial growth is expected in the emerging countries, such as, China, India, and Indonesia.
The prominent players in the global coal bed methane market have strategically focused on expansion and agreements as their key strategies to gain significant market share.
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KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current trends, emerging estimations, and dynamics throughout the coal bed methane market.
- In-depth analysis of CBM market is conducted and estimations for key segments between 2016 and 2023 are provided.
- The driving and restraining factors for the market growth are provided.
- CBM market share for all segments with respect to each geography is provided.
- Key market players are profiled and their strategies are analyzed thoroughly, which provide a competitive outlook of the CBM industry trends.
KEY MARKET SEGMENTS
- Power Generation
- North America
o Rest of Europe
o South Korea
o Rest of Asia-Pacific
o South Africa
o Saudi Arabia
o Rest of LAMEA
- Arrow Energy Holdings Pty Ltd.
- Baker Hughes, Inc.
- BG Group PLC.
- Blue Energy Ltd.
- BP PLC.
- China United Coal Bed Methane Corporation
- Encana Corporation
- Origin Energy Ltd.
- Santos Ltd.
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