Global Coal Bed Methane Market - Growth, Trends, and Forecast (2018 - 2023)

Owing to the increasing focus on natural gas usage for energy consumption, the global coalbed methane (CBM) market is likely to register healthy growth over the forecast period. The natural gas industry is witnessing significant growth, on account of the increasing focus on clean energy consumption. CBM has considerable potential as an abundant clean energy supply, to help replace other diminishing hydrocarbon reserves. Mine safety, green-house gas emissions (GHG), and air quality are expected to continue to be the concerns. However, since early 1980s, coal bed gas has increasingly been viewed as a valuable energy resource. Although its contribution to the total energy mix is still modest, coal bed methane has an impressive potential. It is expected to supplement conventional natural gas supply, adding another environment-friendly component to the total energy mix. The preference for natural gas as an energy fuel is bolstered from the fact that governments across the world have formulated policies to drive clean energy fuels. The recoverable unconventional sources of natural gas, including CBM, are much larger than that of conventional resources, with the majority of the reserve remaining unexplored. The increasing focus on the production of natural gas from unconventional reserves is expected to be a significant boost for the global CBM market during the forecast period.

Growing Penetration of Natural Gas in the Transportation and Domestic sectors driving the Market

The natural gas industry has witnessed a considerable expansion in its range of applications, with a surge in demand as an energy fuel in the transportation and domestic sectors. The transportation sector has provided a huge impetus to the natural gas market, with the increasing deployment of CNG vehicles. The trend is likely to continue over the forecast period, thus bolstering the growth of the coalbed methane market.

North America Accounts for One of the Largest Market Shares

Owing to the growing demand for sustainable fuel in the country and increased focus on reducing the reliance on conventional sources of natural gas, North America accounts for one of the largest shares in the global CBM market. The improved economics of production from CBM sites is a major boost for its demand in North America. The United States is likely to dominate the CBM market over the forecast period. The country has a significant potential for natural gas production from CBM sites. As the Unites States has huge per capita consumption of energy, it needs to increase the production of energy. Moreover, policy level push to generate clean energy is expected to drive the US segment of the CBM market during the forecast period.

The major players include - G3 Exploration, IGas Energy, Great Eastern Energy Corporation Ltd, Black Diamond Energy Inc., Oil and Natural Gas Corporation, China National Offshore Oil Company, Royal Dutch Shell PLC Class A, China National Petroleum Corporation, BP, and TLOU Energy Ltd, among others.

Reasons to Purchase this Report

• Current and future coalbed methane market outlook in the developed and emerging markets.
• Analyzing various perspectives of the market, with the help of Porter’s five forces analysis.
• The segment that is expected to dominate the market.
• The regions that are expected to witness the fastest growth during the forecast period.
• Identify the latest developments and strategies employed by the major market players.
• 3 months analyst support along with the Market Estimate sheet (in excel).

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