Coal Bed Methane (CBM) Market Is Projected To Be Around $ 19.82 Billion By 2025
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A research study titled, “Coal Bed Methane (CBM) Market by Application - Global Industry Analysis and Forecast To 2025” published by Crystal Market Research, states that the coal bed methane (CBM) market is projected to be around $ 19.82 billion by 2025.
The global coal bed methane (CBM) market was estimated approximately USD 9.21 billion in 2016 and is anticipated to reach around USD 19.82 billion by the end of 2025 with a compound annual growth rate (CAGR) of 8.89% during the forecast period. Coal bed methane (CBM) is also called as coal-mine methane (CMM), coal seam gas (CSG), or coal bed gas. It is a type of natural gas drew out from coal beds. Coal bed methane (CBM) refers to adsorbed methane in the firm coal matrix. It is referred sweet gas owing to deficiency of hydrogen sulfide. The existence of this gas is long-familiar from its presence in underground coal mines, where it stages a severe safety threat. Coal bed methane (CBM) is different from typical and traditional gas reservoir such as sandstone, as the methane is laid inside the coal by a natural development called adsorption. The methane is in an almost-liquid state, coating the interior of pores contained in the coal, which is called as the matrix. The open cracks in the coal that are called as cleats can also be drenched with water or can enclose free gas. Coal bed methane (CBM) occurred from discharging methane from coal mines. Some coal beds are known as gassy since long and as a safety standard, drill hole was bored into the mines from the Earth's surface, and the venting methane gas permitted to escape prior to mining.
The global coal bed methane (CBM) market is expected to experience significant growth due to the augmented implementation of coal bed methane (CBM) as a substitute to electricity. Power outages together with a poor access to alternative and clean energy could be conquered by employing this technology. Biggest coal bed methane (CBM) reserves were discovered in Africa by the South African Development Community (SADC); principally Zimbabwe may amend the economies positively and can also cut down imports thus fueling the coal bed methane industry. Coal bed methane (CBM) can be adeptly utilized as a fertilizer with methane which is a supply of ammonia; it is widely utilized in half of the fertilizer market around the globe and hence, coal bed methane is crucial in sustaining food production to fulfill the rising demand of ever-rising population and its requirements. Coal bed methane has numerous applications such as propelling gas turbines, gas engine systems together with furnishing basis of plastics, pharmaceutical industries, producing liquefied petroleum gas and power generation. However, the huge initial investment for stimulation, well drilling, and water handling, and the complexity in the evaluation of retrievable volumes in costing of coal bed methane (CBM) proposals may hinder the market growth over the forecast period.
The major market players for the global coal bed methane market are Great Eastern Energy Petronas, Essar Oil, Black Diamond Energy, Inc., BP P.L.C., Encana Group, Royal Dutch Shell plc, Dart Energy Corporation, Santos Ltd., Arrow Energy, Weatherford, PetroChina International Co., Ltd., ConocoPhillips Co., Fortune Oil Corporation, Green Dragon Gas Ltd., Sydney Gas Ltd., Chevron, Pioneer Natural Resource and Reliance Power Limited. On the basis of applications, the global market is classified as; Industrial, Transportation, Power Generation, Residential and Commercial. The geographical segmentation of the global coal bed methane (CBM) market is given in regions such as; North America (the United States, Mexico, and Canada), Asia-Pacific (China, Japan, Australia, India, South Korea and Rest of Asia Pacific), Europe (Germany, Italy, Spain, France, UK and Rest of Europe) and Rest of the World (Brazil, South Africa, Saudi Arabia, United Arab Emirates and Others).
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Key findings of the coal bed methane (CBM) market
- Global coal bed methane (CBM) market was evaluated at around USD 9.21 billion in 2016 and is expected to reach USD 19.82 billion by 2025 with compound annual growth rate (CAGR) of 8.89% from 2016 to 2025.
- Industrial applications and power generation prevailed CBM utilization, reporting for over 64% of volumes in 2013 worldwide, with the earlier expected to be the top emergent CBM market.
- Canada and U.S. are the major CBM manufacturers, reporting for around 70% of global volume in 2013.
- Asia Pacific is anticipated to be the most active regional market, with considerable undiscovered stockpiles. Indonesia, India, and China are likely to lead the Asian CBM industry. The Chinese Land and Resources Ministry has already declared plans to generate 16 billion m3 of coal bed methane by 2015, whereas Indonesia has previously inspected 1,000 bcf net reserves and has set the target of around 15,000 bcf by 2020.
- Key market players in CBM market include Dart Energy, Arrow Energy, petronas, PetroCHina and Santos.