According to the latest report by IMARC Group, “Global Coal Bed Methane Market Overview, Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027“, the global coal bed methane (CBM) market reached a value of US$ 17.81 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 24.22 Billion by 2027, exhibiting a CAGR of 5.10% during 2022-2027.
Coal bed methane (CBM) is a natural gas produced by transforming plant materials into coal. It is colorless, odorless, and contains pure methane, which requires minimal processing. It is also considered a clean-burning fuel and more eco-friendly than conventional natural gas. Moreover, CBM is widely used as an energy source in gas turbines for energy generation due to its easy extraction process and minimal risk of combustion hazards in underground coal mines.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Coal Bed Methane Market Trends and Drivers:
The market is primarily driven by the increasing electricity consumption across the globe. This can be attributed to the inflating income levels of consumers and the construction of buildings in residential and industrial sectors. In line with this, the growing awareness regarding cost-effective and environment-friendly clean-burning fuels and the adoption of CBM in various industrial applications, such as rolling mills, steel plants, and cement production, is strengthening the market growth.
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Moreover, nowadays, CBM is converted into gasoline, diesel, or compressed natural gas (CNG) and used as biofuels in automobiles. It is also utilized for producing methanol that finds extensive applications in wastewater treatment plants and the chemical industry, representing another major factor propelling the market growth.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Coal Bed Methane (CBM) Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Arrow Energy Holdings Pty Ltd., Baker Hughes Company, BP PLC, Essar Group, G3 Exploration, Halliburton Company, Petroliam Nasional Berhad (PETRONAS), Reliance Industries Limited, Royal Dutch Shell plc, Santos Limited and The ConocoPhillips Company.
The report has segmented the market on the basis of region, type, technology and application.
Breakup by Type:
- CBM Wells
- Coal Mines
Breakup by Technology:
- Horizontal Drilling
- Hydraulic Fracturing
- CO2 Sequestration
Breakup by Application:
- Power Generation
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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