Overview and Scope
Coal bed methane (CBM) refers to an uncommon variety of natural gas that is discovered in coal seams or deposits. It is a primary clean energy source of natural gas. CBM is created during the coalification process, which converts plant matter into coal.
Sizing and Forecast
The coal bed methane (CBM) market size has grown strongly in recent years. It will grow from $18.83 billion in 2023 to $20.01 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to energy security concerns, increasing natural gas demand, coal mining operations, government policies and incentives, environmental benefits.
The coal bed methane (CBM) market size is expected to see strong growth in the next few years. It will grow to $25.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to global transition to cleaner energy, technological advancements in extraction, growing focus on unconventional gas resources, energy independence initiatives, expansion of CBM infrastructure. Major trends in the forecast period include government initiatives and regulatory support, innovations in exploration and reservoir management, emergence of CBMs, investments in infrastructure for CBM distribution.
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Segmentation & Regional Insights
The coal bed methane (CBM) market covered in this report is segmented –
1) By Type: CBM Wells, Coal Mines
2) By Raw Materials: Natural gas, Coal
3) By Technology: Horizontal Drilling, Hydraulic Fracturing, CO2 Sequestration
4) By Application: Industrial, Power Generation, Transportation, Commercial, Residential
Asia-Pacific was the largest region in the coal bed methane (CBM) market share in 2023. The regions covered in the coal bed methane (cbm) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
A considerable surge in electricity consumption around the world is significantly contributing to the coal bed methane (CBM) market. Electricity refers to a fundamental form of energy that may be observed in both positive and negative forms, that occurs naturally (lightning) or is manufactured (generator), and is expressed in terms of electron movement and interaction. Coal bed methane (CBM) is extensively used as a clean energy source for electricity generation. The rising electricity demand is likely to increase the demand for cleaner energy sources to produce more electricity with fewer carbon emissions. For instance, in January 2022, according to the Electricity Market Report shared by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, the global electricity demand grew by 6% from 2020 to 2021. In terms of absolute growth, it was the highest annual gain ever (over 1500 TWh). Therefore, a considerable surge in electricity consumption around the world will drive the coal bed methane (CBM) market.
Key Industry Players
Major companies operating in the coal bed methane (CBM) market report are PetroChina Company Limited, Royal Dutch Shell PLC, British Petroleum PLC, Chevron Corporation, Tamboran Resources Limited, Reliance Industries Limited, Petroliam Nasional Berhad, ConocoPhillips Company, Comet Ridge Limited, Baker Hughes Company, Halliburton Company, Origin Energy Limited, AGL Energy Limited, Great Plains Energy Inc., Santos Limited, Western Gas Corporation, Stanmore Coal Limited, Nexen Inc., Far East Energy Corporation, Queensland Gas Company Ltd., Arrow Energy Holdings Pty Ltd., Black Diamond Energy Inc., Great Eastern Energy Corporation Ltd., Central Petroleum Limited, Synergy Resources Corporation, Metgasco Ltd., Essar Group, G3 Exploration Limited (G3E), China United Coalbed Methane Corporation Ltd., Fortune Oil PLC
The coal bed methane (cbm) market report table of contents includes:
1. Executive Summary
2. Coal Bed Methane (CBM) Market Characteristics
3. Coal Bed Methane (CBM) Market Trends And Strategies
4. Coal Bed Methane (CBM) Market – Macro Economic Scenario
5. Global Coal Bed Methane (CBM) Market Size and Growth
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31. Coal Bed Methane (CBM) Market Other Major And Innovative Companies
32. Global Coal Bed Methane (CBM) Market Competitive Benchmarking
33. Global Coal Bed Methane (CBM) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Coal Bed Methane (CBM) Market
35. Coal Bed Methane (CBM) Market Future Outlook and Potential Analysis
36.Appendix
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