Coal
Bed Methane is an unconventional form of natural gas that is found in coal
seams. It is primarily extracted from bituminous and sub-bituminous coals. Coal
bed methane can be efficiently used as a fertilizer with methane being a source
of ammonia used in half of the world’s fertilizer market. Moreover, coal bed
methane consists of over 90% methane and can be harvested independently of coal
mining in some locations. The factors
leading to growing demand of coal bed methane market includes greenhouse gas
mitigation, increased safety and productivity in coal mining operations, and
the possibility of greenhouse gas capture and storage.
The
global coal bed methane market is set to witness significant growth due to
increasing focus on natural gas usage for energy consumption. Production of
natural gas is witnessing significant growth, on account of the increasing
focus on clean energy consumption. Clean bed methane has considerable potential
as an abundant clean energy supply, to help replace other diminishing
hydrocarbon reserves. Thus, coal bed methane is expected to supplement
conventional natural gas supply, adding another environment-friendly component
to the total energy mix. On the other hand, high initial capital commitment for
well drilling, stimulation, and water handling, and the difficulty in
estimation of recoverable volumes in evaluation of coal bed methane proposals
hamper the coal bed methane market.
Key Players:
The key players of global coal bed methane market
are Essar Oil (India), Reliance Power (India), Halliburton (US), Chevron (US),
BP (UK), Weatherford (US), Arrow Energy (Australia), Blue Energy (Australia),
Conocophillips (US), China United Coalbed Methane Co (China), Encana
Corporation (Canada), Far East Energy Corporation (US), Santos (Australia), and
Nexen Inc. (Canada), among others. (Germany), among others.
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Complete Report @ https://www.marketresearchfuture.com/reports/coal-bed-methane-market-7174
Segmental
Analysis:
The coal
bed methane market has been segmented based on technology 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 especially in developed countries
especially in Europe and North America, and government initiatives to mitigate
greenhouse gas emission.
Regional Outlook:
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.
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