Coal
Bed Methane Production Market – Overview
The
escalated demand for natural gas is spurring the coal bed methane market share
substantially. Reports that investigate the energy and power industry have been
presented by Market Research Future, which produces reports on industry
verticals that appraise the market expansion and prospects. The market is
expected to unlock growth opportunities with a 4.05 % CAGR in the forecast
period.
The
presence of favorable government initiatives is encouraging the entry of strong
players in the coal bed methane market. The upsurge in carbon dioxide emissions
is another key factor promoting coal bed methane market, as governments are
focusing on greenhouse gas mitigation seriously. The development of the coal
bed methane market to eventually replace conventional electricity sources is
projected to open up new prospects for growth in the approaching period.
Coal
Bed Methane Production Market: Segmental Analysis
The segment
review of the Coal
Bed Methane Production Market
has been conducted on the basis of application, technology, and region.
On the
basis of technology, the coal bed methane market is segmented into horizontal
drilling, hydraulic fracturing, and CO2 sequestration. The hydraulic fracturing
segment leads the coal bed methane market, due to the technological progress
realized with this technique.
The market
for coal bed methane is segmented on the basis of application into industrial,
residential, transportation, commercial, and others. The industrial segment of
the coal bed methane market globally is projected to record the maximum growth
rate throughout the forecast period.
On the
basis of regions, the coal bed methane market is segmented into South America,
Asia Pacific, the Middle East, North America, Europe, and Africa.
Regional
Analysis
The
regional study of the coal bed methane market covers regions such as South
America, Asia Pacific, the Middle East, North America, Europe, and Africa.
As per the
study, the North American region controlled the principal market stake of the
coal bed methane market in 2017. The North America region has notable players
from the oil & gas industry and increasing demand for sustainable fuel in
countries like US and Canada. The coal bed methane market is predicted to be
largely motivated by amplified focus on decreasing the dependence on usual
sources of natural gas. Additionally, the substantial level of natural gas
production in nations such as Saudi Arabia, India, China, and others is
expected to have an optimistic influence on the development of coal bed methane
market through the forecast period.
Competitive
Analysis
The
significant players in the coal bed methane market are Halliburton (US), Essar
Oil (India), Reliance Power (India), Chevron (US), BP (UK), Weatherford (US),
Arrow Energy (Australia), Conocophillips (US), China United Coalbed Methane Co
(China), Encana Corporation (Canada), Far East Energy Corporation (US), Blue
Energy (Australia), Santos (Australia), and Nexen Inc. (Canada), among others.
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