Coal bed methane is a primary coal seam gas that is collected from unmined coal seams. These coal seams are then drilled down into releasing the associated gas which is extracted and can further be used to generate electricity. Coal Bed Methane can be used as a substitute for conventional natural gas in a wide variety of consumer and industrial applications. The porosity of coal bed reservoirs is usually very small, ranging from 0.1 to 10%. Coal bed methane market is essential in assisting food production rate thereby meeting the growing population needs. Essar Oil, a coal bed methane company is currently supplying 1 million cubic metre of the requisite gas to Matix Fertilizers and Chemicals.
Based on technology, the market is segmented as hydraulic fracturing, horizontal drilling, and CO2 sequestration. Hydraulic fracturing segment is leading the market owing to the technological advancements achieved in this technique coupled with its ease of use and will further complement the coal bed methane market during the forecast period. Considering the application, the market is segmented as residential, commercial, industrial, transportation, and others. Industrial application is expected to hold larger share during the forecast period due to technological advancements.
The global coal bed methane market is expected to grow at ~ 4.05% CAGR during the forecast period.
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Market Research Analysis
North America is estimated to hold the largest share during the forecast period
Region wise, North America held the largest market share of the global coal bed methane market in 2017. North America region has some major players from the oil & gas industry and growing demand for sustainable fuel in US and Canada. The coal bed methane market would be mainly driven by creased focus on reducing the reliance on conventional sources of natural gas. In addition, significant natural gas production in countries such as India, China, Saudi Arabia, and others would also have a positive impact on the growth of coal bed methane market during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global coal bed methane market, tracking twp market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, and share for North America, Asia-Pacific (APAC), Europe, Middle East & Africa, and South America. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the coal bed methane market by its technology, application, and by region.
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