Coal
Bed Methane (CBM) 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.
Segmental
Analysis
The
segment review of the Coal
Bed Methane (CBM) 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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