The global coal bed methane market size is expected to reach USD 21.67 billion by 2027 from USD 13.46 billion in 2020 and is expected to grow with a CAGR of 7.91% during the forecast period. Coal bed methane (CBM) is the natural gas found in most coal deposits. It is created during coalification, where plant material is converted into coal over millions of years. In addition, CBM consists of pure methane, a clean-burning fuel that contains lesser impurities and requires minimal processing. It is considered eco-friendly than oil, coal, or even conventional natural gas. These benefits have augmented the growth of the coal bed methane market.
Factors Affecting the Coal Bed Methane Market over the Forecast Period:
The increasing consumer demand for power across numerous residential, industrial, and commercial sectors is estimated to fuel the demand for coal bed methane across the globe.
Additionally, changing preferences to use eco-friendly power and meet the increasing demand for electricity across the regions are key factors projected to drive the growth of the coal bed methane market over the forecast period.
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Increasing investment activities by significant players working in the target market for producing coal bed methane, coupled with policies introduced by numerous government agencies of emerging economies, are some factors that will further fuel the market growth over the assessment period.
Increasing gas pricing coupled with the rapid increase in industrialization across developed and emerging countries are some other factors that are likely to propel the demand for coal bed methane that can be efficiently used as a fertilizer, which is expected to create new opportunities in the global market.
Impact of COVID-19 on Coal Bed Methane Market:
Due to COVID-19, the consumption of coal bed methane has considerably declined, backed by the reduction in the market of energy and power post the outbreak of the COVID-19 pandemic. The continuous rise in the demand for eco-friendly products is expected to boost the growth of the coal bed methane market post-outbreak of the COVID-19 pandemic. Moreover, amidst the lockdown, the coal bed methane market has considerably decreased across the globe, which hampers the growth of the coal bed methane market in 2020.
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Coal Bed Methane Market: Scope of the Report
The report outlines the global coal bed methane market study based on technology and application.
Based on the technology, the coal bed methane market has been segmented into –
- Hydraulic Fracturing
- Horizontal Drilling
- CO2 Sequestration
Based on the application, the coal bed methane market has been segmented into –
- Power Generation
Coal Bed Methane Market: Regional Outlook
The coal bed methane market has been segmented into five geographical regions: North America, Asia Pacific, South America, Europe, the Middle East, and Africa. In 2019, Asia Pacific held the largest share in the global coal bed methane market, followed by Europe and the Asia Pacific. Moreover, Asia Pacific is expected to grow with a high CAGR over the forecast period due to the increasing growth of the chemical industry across the region.
Coal Bed Methane Market: Key Competitors
The coal bed methane market is highly fragmented, with a large number of players across the globe. The key players operating in the global coal bed methane market include –
- Reliance Industries Limited
- Arrow Energy Pty Ltd.
- PetroChina Company Limited
- Baker Hughes, a GE Company LLC
- G3 Exploration
- ConocoPhillips Company
- bp p.l.c.
- Pioneer Natural Resources Company
- Halliburton, Chevron
- Royal Dutch Shell
- Dart Energy
- Fortune Oil
- Encana Group
- Sydney Gas
- Green Dragon Gas
- Great Eastern Energy Petronas.
The coal bed methane market report thoroughly analyzes macro-economic factors and every segment’s market attractiveness. The report will include an in-depth qualitative and quantitative assessment of the segmental/regional outlook with the market players’ presence in the respective segment and region/country. The information concluded in the report includes the inputs from primary interviews with industry experts.
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Coal Bed Methane Market Report Covers Comprehensive Analysis On:
- Market Segmentation & Regional Analysis
- Market Size of 10 years
- Pricing Analysis
- Supply & Demand Analysis
- Product Life Cycle Analysis
- Porter’s Five Forces & Value Chain Analysis
- Developed & Emerging Economies Analysis
- PEST Analysis
- Market and Forecast Factor Analysis
- Market Opportunities, Risks, & Trends
- Conclusion & Recommendation
- Regulatory Landscape
- Patent Analysis
- Competition Landscape
- 15+ Company Profiles
Coal Bed Methane Market Regional Analysis Includes:
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA
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Coal Bed Methane Market: Target Audience
- Coal bed methane manufacturers & suppliers
- Government and research organization
- Investors and shareholders
- Industry Associations and other assistance manufacturers