Coal Bed Methane Market – Overview
The escalated demand for natural gas is spurring the coal bed methane market share substantially. Reports that investigate the energy and power industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is expected to unlock growth opportunities with a 4.05 % CAGR in the forecast period.
The presence of favourable government initiatives is encouraging the entry of strong players in the coal bed methane market. The upsurge in carbon dioxide emissions is another key factor promoting coal bed methane market, as governments are focusing on greenhouse gas mitigation seriously. The development of the coal bed methane market to eventually replace conventional electricity sources is projected to open up new prospects for growth in the approaching period.
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Segmental Analysis
The segment review of the coal bed methane market has been conducted on the basis of application, technology, and region.
On the basis of technology, the coal bed methane market is segmented into horizontal drilling, hydraulic fracturing, and CO2 sequestration. The hydraulic fracturing segment leads the coal bed methane market, due to the technological progress realized with this technique.
The market for coal bed methane is segmented on the basis of application into industrial, residential, transportation, commercial, and others. The industrial segment of the coal bed methane market globally is projected to record the maximum growth rate throughout the forecast period.
On the basis of regions, the coal bed methane market is segmented into South America, Asia Pacific, the Middle East, North America, Europe, and Africa.
Regional Analysis
The regional study of the coal bed methane market covers regions such as South America, Asia Pacific, the Middle East, North America, Europe, and Africa.
As per the study, the North American region controlled the principal market stake of the coal bed methane market in 2017. The North America region has notable players from the oil & gas industry and increasing demand for sustainable fuel in countries like US and Canada. The coal bed methane market is predicted to be largely motivated by amplified focus on decreasing the dependence on usual sources of natural gas.
Additionally, the substantial level of natural gas production in nations such as Saudi Arabia, India, China, and others is expected to have an optimistic influence on the development of coal bed methane market through the forecast period.
Competitive Analysis
The instabilities in global currency are predicted to become stable and consequently place a beneficial impact on the market. The upturn of investment into physical capital is estimated to underpin the market’s growth in the forecast period. The market is being distinguished by the instrumental forces that are applying an imposing influence. The upgrades in the mining of natural resources are further supporting market expansion advancement. The improvement of substitute raw material resources is likely to further concentrate on the supply demands in the market. The progress in the efficacy of production facilities is buttressing the market’s growth pace in the coming years. Also, inventions in technology are anticipated to exercise a constructive inspiration on the enhancement of the market. The influence of governmental plans is stirring additional evolution of the market. The revivals carried out in the logistic chain are projected to produce favourable possibilities for progress in the coming period.
Leading Players
The significant players in the coal bed methane market are Halliburton (US), Essar Oil (India), Reliance Power (India), Chevron (US), BP (UK), Weatherford (US), Arrow Energy (Australia), Conocophillips (US), China United Coalbed Methane Co (China), Encana Corporation (Canada), Far East Energy Corporation (US), Blue Energy (Australia), Santos (Australia), and Nexen Inc. (Canada), among others.
Industry Updates:
Aug 2019 Following the commissioning of GAIL’s Urja-Ganga Pipeline, Essar Oil & Gas Exploration & Production Ltd is preparing to more than double its coal-bed methane (CBM) gas creation from the Raniganj East CBM block for an income boost. A spokesperson attached to the progress said that the present production level of EOGEPL was pointedly lesser than its capacity.
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