Market Insights
The global coal bed methane market is expected to grow at a CAGR of 4.05% during the forecast period from 2016 to 2023. This indicates moderate yet consistent growth over the next few years. Coal bed methane is a form of natural gas which has grown in importance as a source of energy in various parts of the world. This unconventional natural gas is often extracted and can from bituminous and sub-bituminous coals and have a wide number of applications. Market Research Future’s understanding of the market has been used to create a detailed report which covers the markets driving forces as well as opportunities and pitfalls of the market.
Some applications for coal bed methane include use as a fertilizer. About half the world’s fertilizer is made from ammonia sourced from coal bed methane. Government support for unconventional resources is expected to assist the growth of the global coal bed methane market. A prime example is in emerging economies where governments are increasing their production of coal bed methane. By 2020, China has inducted the plan to produce more than 50 Bn m3 for coal bed methane. Various end-use industries are investing in devices to increase production efficiency as manufacturing activities increase.
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The coal bed methane market is expected to witness growth in the industrial sector as it has increased power generation capacity. The high demand for power has put a burden on power grids across the world, including particularly in emerging economies with large populations and expanding industrial activities. Environmental consciousness and the demand for natural gases as an alternative to traditional fossil fuels is expected to encourage market growth. Ongoing natural gas projects and increasing benefits to the coal mining industry are also expected to have a positive impact on the global market.
Key Players
MRFR’s report includes an analysis of the competition in the global coal bed methane market which includes leading market players such as Far East Energy Corporation (US), Chevron (US), Arrow Energy (Australia), Essar Oil (India), Santos (Australia), ConocoPhillips (US), Encana Corporation (Canada), Weatherford (US), China United Coalbed Methane Co (China), BP (UK), Blue Energy (Australia)
Market Segmentation
The global coal bed methane market has been segmented on the basis of technology, application, and region. Technology has been segmented into hydraulic fracturing, horizontal drilling, and CO2 sequestration. Hydraulic fracturing is the leading segment by technology due to the ease of use as well as the advancements made in the implementation of this technique.
Application has been segmented to include commercial, industrial, residential, transportation, and others. Industrial applications of coal bed methane are wide and varied making it the most significant segment in the global market. Coal bed methane is increasingly being used as an alternate source of fuel to conventional natural gas.
Regions included in the global analysis include Europe, North America, Asia Pacific, the Middle East & Africa, and South America.
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Regional Analysis
Developing economies like the ones in the Asia Pacific are leading market growth for the global coal bed methane market. Countries like India and China are increasing their coal bed methane production capabilities to help support national power grids. The use of this natural gas to support the high demand for power generation is expected to have a strong positive impact on the global market. India and China are prime country level markets due to the increasing urbanization and industrialization in the region which has increased the demand for efficient power supply. Meanwhile developed economies in North America and Europe are expected to display a demand for natural gases to reduce dependency on traditional fossil fuels.
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