Coal bed methane” refers to the extraction of natural gas from the coal beds. Natural gas is generally present in the coal bed in the form of methane. It is also known as coal-mine methane (CMM), coal bed gas, or coal seam gas (CSG). Advancements in technology have facilitated the production of coal bed methane on a commercial scale. Growing energy demand and depleting oil reserves are influencing oil producers to seek alternative sources of energy, such as shale gas, tight oil, and coal bed methane.
The coal bed methane market is expected to gain moderate growth with the growing application of natural gas in the manufacturing, residential, and automotive sectors. Oil-deficit economies with high coal reserves are looking to explore coal bed methane to reduce their dependency on conventional oil and gas. Moreover, exploration of coal bed methane helps in the mitigation of greenhouse gases, therefore improving the safety of coal mining operations, and also earns carbon credits, which are factors expected to augment the growth of the global coal bed methane market over the forecast period.
However, environmental concerns over the usage of water for the recovery of coal bed methane and high capital-intensive projects of exploration of coal bed methane are anticipated to restrain the growth of the coal bed methane market during the forecast period (20216-2023).
North America is expected to be the largest region in the global coal bed market, which is anticipated to contribute the highest revenue share in the global coal bed market owing to the early adoption of various technologies for the exploration and production of coal bed methane on a commercial level. However, the segment has become mature and is projected to grow steadily over the forecast period (2016–2023). Asia Pacific is projected to be the second-largest region due to high coal reserves in the region coupled with increasing production of coal bed methane, especially in China, India, and Indonesia.
The global coal bed methane market is projected to be valued at US$ 3.2 billion by the end of 2016 and is expected to expand at a CAGR of 4.3% during the forecast period of 2016–2023.
Purpose of the Report
The purpose of this strategic research study titled “Global Coal Bed Methane Market: Growth, Future Prospects, Competitive Analysis, and Forecast, 2016–2023” is to provide company executives, industry investors, and industry participants with in-depth insights to enable them to make informed strategic decisions regarding the opportunities in the global coal bed methane market.
- Industry Investors
- Research Professionals
- Emerging Companies
- Coal bed methane-producing companies
- Oil and gas exploration and production companies
- Downstream and midstream companies
- Research Institutes
Overall, the research study provides a holistic view of the coal bed methane market’s growth, offering market size and estimates for the period from 2013 to 2023, keeping in mind the above-mentioned factors.
On the basis of application, the global coal bed methane market is categorized into the following types:
- Power Generation
The oil and gas industry has witnessed a shift from conventional to non-conventional oil and gas production. Growing energy demand from various sectors such as manufacturing, transportation, residential, and commercial sectors and depleting oil reserves are influencing oil producers to explore non-conventional resources such as shale gas, tight oil, and coal bed methane to meet the demand. The coal bed methane market is gaining momentum with increasing application across various sectors.
On the basis of application, the global coal bed methane market can be segmented into power generation, industrial, residential, commercial, and transportation.
Among all applications, the industrial segment is anticipated to be the most dominant segment owing to the increasing demand for natural gas due to the growing demand for various consumer products. Following it, power generation is expected to be the second largest segment by virtue of natural gas from gas-based power plants due to increasing energy demand across the globe. The segment is projected to register significant growth over the forecast period (2016–2023).
On the basis of geography, the global coal bed methane market is segmented into the following categories:
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of the Middle East and Africa
The coal bed methane market is expected to witness significant growth over the forecast period due to increased exploration and production of natural gas from non-conventional reserves. Growing energy demand and a keenness to reduce emissions of greenhouse gases are expected to augment the growth of the global coal bed methane market.
The global coal bed methane market is segmented on the basis of geography. North America is expected to contribute the highest revenue share in the global coal bed methane market by the end of 2016 due to the early adoption of technologies to produce coal bed methane from coal beds. However, the segment has become mature and is anticipated to lose market share to Asia Pacific by 2023. Following it, Asia Pacific is anticipated to be the second-largest and fastest-growing region in the global coal bed methane market in 2016.
The growth of the segment is augmented by increasing exploration and production of coal bed methane in the major economies of the region, such as Australia, China, India, and Indonesia. High coal reserves and a willingness to reduce dependency on conventional fuel coupled with a favorable regulatory framework are anticipated to fuel the growth of the coal bed methane market in the region over the forecast period (2016–2023).