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According to a report,“Coal Bed Methane (CBM) Market Analysis By Application (Industrial, Power Generation, Residential, Commercial and Transportation) And Segment Forecasts To 2020”, published by Grand View Research, Inc., Global CBM (Coal Bed Methane) market is expected to reach USD 17.31 billion by 2020, growing at a CAGR of 5.9% from 2014 to 2020. Unconventional CBM reserves, especially in coal-rich regions are increasingly gaining the spotlight as the industry strives for energy independence. Exploration and commercialization of unconventional hydrocarbon energy sources is seen as a critical step by energy agencies, to stabilize the energy supply-demand gap in the coming years. With CBM being a pure natural gas form, producers and consumers also have the opportunity to obtain much needed carbon credits and tax incentives. 

The strict framework designed for extraction by various environmental agencies coupled with the highly capital intensive process is expected to be a key challenge for industry participants over the next six years.

Key Takeaways from the report:

• Global CBM production was 2,920.3 Bcf in 2013 and is expected to reach 4,667.4 Bcf by 2020, growing at a CAGR of 7% from 2014 to 2020.

• Power generation and industrial applications dominated CBM usage, accounting for over 64% of global volumes in 2013, with the former expected to be the fastest growing CBM market, at an estimated CAGR of 8.5% from 2014 to 2020.

• U.S. and Canada are the largest CBM producers, accounting for over 70% of global volume in 2013. U.S. CBM market revenues were estimated at USD 7.22 billion in 2013 and are exoected to grow at a CAGR of 5.4% from 2014 to 2020.

• Asia Pacific is expected to be the most dynamic regional market, with significant unexplored reserves. China, India and Indonesia are expected to lead the Asian CBM industry. The Chinese Ministry of Land and Resources has already announced plans to produce 16 billion cubic meters of coal bed methane by 2015, while Indonesia has already audited 1,000 bcf net resources and has production target of over 15,000 bcf by 2020.

• Key companies involved in CBM extraction include Arrow Energy, Dart Energy, Santos, PetroCHina and petronas.

Browse More Reports in Conventional Energy Industry:

• Hydraulic Fracturing Market: Growing E&P companies’ concern towards declining production rates in conventional hydrocarbon reserves along with shifting focus towards developing unconventional oil & gas blocks globally is anticipated to drive the market growth.

• Specialty Fuel Additives Market: Implementation of strict environmental regulations and demand for fuel efficiency is projected to boost the market growth. Increasing focus on emission control and energy efficient fuel in the automotive and manufacturing sector is expected to boost market growth

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