Coal Bed Methane Market By Application (Industrial, Power Generation, Transportation, And Others), and Region - Global Forecast to 2028

The global coal bed methane market is expected to be valued at nearly US$ 13 Bn in 2019, and is expected to register a CAGR of 5.4%. The report offers in-depth insights, revenue details, and other vital information regarding the global coal bed methane market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2028. The global coal bed methane market report has been segmented on the basis of application, and region.

Global Coal Bed Methane Market: Introduction

Coal bed methane (CBM) is an unconventional form of natural gas obtained in coal deposit or coal seams. Coal bed methane is formed during the process of coalification and is recovered from underground coal after, during, and before mining operation.

Global Coal Bed Methane Market: Dynamics

Increasing consumption of power across various industrial, commercial, and residential sectors and shifting preference towards coal bed methane for power generation in order to meet the ever-increasing demand for electricity across the globe are major factors expected to drive growth of the global coal bed methane market over the forecast period.

In addition, rising investment activities by major players operating in the target market for discovering new coal bed methane, coupled with favorable policies by the government of various developing economies such as India and China for development of the upstream industry are among some other factors expected to further fuel growth of the global market over the forecast period.

Moreover, rapidly increasing demand for methane from household and commercial sectors for power and heat generation, owing to low-cost of the product is another factor expected to boost growth of the global market over the forecast period. In addition, rising adoption of methane-based combustion among industries and commercial sectors for various applications and purposes is resulting in increasing demand for coal bed methane, which in turn is expected to support growth of the target market over the forecast period.

Furthermore, fluctuating gas prices, coupled with declining conventional gas supplies and rapidly increasing industrialization across developed and developing countries across the globe are some other factors expected to propel growth of the global coal bed methane market.

However, high capital investment for exploration and drilling activities is a key factor which may restrain growth of the global market over the forecast period. In addition, obstacles and challenges related to overseas operations such as land and permit-acquisition, supply-chain gap, and issues associated with adoption of advanced technologies and infrastructure limitations are some other factors expected to hamper growth of the target market over the forecast period to a certain extent.

Global Coal Bed Methane Market Analysis by Application:

On the basis of application, the market is segmented into industrial, power generation, transportation, and others. Currently, the power generation segment dominates in the global market in terms of revenue and is expected to maintain its dominance over the forecast period.

Global Coal Bed Methane Market Analysis by Region:

Based on the region, the global market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The market in North America is expected to register the highest share in terms of revenue in the global coal bed methane market in 2018. In addition, increasing government initiatives for safe extraction and use of methane gas, coupled with a rising preference towards use of clean energy is resulting into an increasing number of exploration activities for new reserves across various countries in this region is a key factor expected to growth of the target market in this region.

The market in the Asia Pacific is expected to account for second-highest share in terms of revenue over the forecast period, owing to increasing concerns regarding hazardous pollution impact, and ongoing initiatives to increase gas utilization while curbing pollution, and reducing heavy reliance on coal in developing countries such as China and India has resulted in high investment in coal bed methane production bases across various countries in this region. In addition, increasing expansion activities through various mergers and acquisitions, rising investment for discovering new coal bed methane reserves, and availability of favorable government policies in developing economies for development of upstream industry are some other factors expected to create lucrative opportunities for players operating the target market in this region over the forecast period. Moreover, sustainable areas to extract resources and well-developed Liquefied Natural Gas (LNG) import infrastructure are present in countries such as the UK and Germany, and coupled with high availability of coal reserves are among some of the key factors expected to register significant growth in Europe over the forecast period.

Market Segmentation of Global Coal Bed Methane Market:

Segmentation by Application:

• Industrial
• Power Generation
• Transportation
• Others (Residential, Commercial, etc.)

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa