Coal Bed Methane Market Research Report: Information
by Technology (Hydraulic Fracturing, Horizontal Drilling, and CO2
Sequestration), Application (Residential, Industrial, Commercial,
Transportation, and Others), and Region – Global Forecast till 2023
Coal Bed Methane
Market Scenario
The global coal bed methane market is expected to grow
at a CAGR of 4.05% during the forecast period from 2016 to 2023. This indicates
moderate yet consistent growth over the next few years. Coal bed methane is a
form of natural gas which has grown in importance as a source of energy in
various parts of the world. This unconventional natural gas is often extracted
and can from bituminous and sub-bituminous coals and have a wide number of
applications. Market Research Future's understanding of the market has been
used to create a detailed report which covers the markets driving forces as
well as opportunities and pitfalls of the market.
Global Coal Bed
Methane Market Highlights
Some applications for coal bed methane include use as
a fertilizer. About half the worlds fertilizer is made from ammonia sourced
from coal bed methane. Government support for unconventional resources is
expected to assist the growth of the global coal bed methane market. A prime
example is in emerging economies where governments are increasing their
production of coal bed methane. By 2020, China has inducted the plan to produce
more than 50 Bn m3 for coal bed methane. Various end-use industries are
investing in devices to increase production efficiency as manufacturing
activities increase. The coal bed methane market is expected to witness growth
in the industrial sector as it has increased power generation capacity.
Increasing potential for greenhouse gas mitigation is
a major driver for the growth of the global coal bed methane market. For
instance, China is taking steps to reduce carbon dioxide emissions. The Government of China has set reduction
targets for two of its largest sources of non-CO2, namely, coal bed methane and
HFC emissions. According to China’s national climate action plan, China would
increase its coal bed methane production by 2020.
Various industries are investing heavily in control
devices to increase the production efficiency and simultaneously reduce error
ratio. This would positively impact the coal bed methane market with increased
manufacturing activities and power generation capacity addition.
Industry
Segmentation
The global coal bed methane
market has been segmented on the basis of technology, application, and region.
Technology has been segmented into hydraulic fracturing, horizontal drilling,
and CO2 sequestration. Hydraulic fracturing is the leading segment by
technology due to the ease of use as well as the advancements made in the
implementation of this technique.
Application has been
segmented to include commercial, industrial, residential, transportation, and
others. Industrial applications of coal bed methane are wide and varied making
it the most significant segment in the global market. Coal bed methane is increasingly
being used as an alternate source of fuel to conventional natural gas.
Regions included in the
global analysis include Europe, North America, Asia Pacific, the Middle East
& Africa, and South America.
Prominent 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.
Regional Analysis
Developing economies like the
ones in the Asia Pacific are leading market growth for the global coal bed
methane market. Countries like India and China are increasing their coal bed
methane production capabilities to help support national power grids. The use
of this natural gas to support the high demand for power generation is expected
to have a strong positive impact on the global market. India and China are
prime country level markets due to the increasing urbanization and
industrialization in the region which has increased the demand for efficient
power supply. Meanwhile developed economies in North America and Europe are
expected to display a demand for natural gases to reduce dependency on
traditional fossil fuels.
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