The Coal Bed Methane (CBM) Global Market Report 2023 by The Business Research Company, provides coal bed methane (cbm) market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-yearforecast period – 2023-2032.
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According to The Business Research Company’s Coal Bed Methane (CBM) Global Market Report 2023, the market size is expected to grow from$17.82 billion in 2022 to $18.82 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global coal bed methane (CBM) market is expected to grow to $22.97 billion in 2027 at a CAGR of 5.1%.
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.
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The coal bed methane (cbm) market 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
Government initiatives for clean energy sources of natural gas is expected to drive the coal bed methane (CBM) market going forward. Governments from various countries are putting their efforts into a clean energy source to deliver natural gas worldwide. These initiatives will provide a push towards coal bed methane which is a clean source of natural gas, driving significant demand for it. For instance, in October 2022, The Directorate General of Hydrocarbons (DGH), an India-based upstream regulator, announced the offering of 16 coal bed methane blocks and 26 oil and gas blocks in the ninth and most recent exploration licensing round of the nation. There are 26 oil and gas blocks in total, 15 of which are in ultra-deep water, 8 in shallow water, and 3 on land. They encircle a 223,000-square-kilometer area. Furthermore, in December 2021, the U.S. Department of Energy (DOE), an executive department of the U.S. federal government that oversees U.S. national energy policy, announced the allocation of $35 million for twelve projects aimed at creating technology to lower methane emissions in the oil, gas, and coal sectors. Reducing Emissions of Methane Every Day of the Year (REMEDY) is a program developed by the Advanced Research Projects Agency-Energy (ARPA-E) of the DOE to slash methane emissions in the United States significantly. Thus, the government initiatives for clean energy sources of natural gas will propel the growth of the coal bed methane (CBM) market.
Top Major Players
Arrow Energy Holdings Pty Ltd.,
Baker Hughes Company,
BP Plc.,
Essar Group,
G3 Exploration
The coal bed methane (cbm) market report table of contents includes:
- Executive Summary
- Coal Bed Methane (CBM) Market Characteristics
- Coal Bed Methane (CBM) Market Trends And Strategies
- Coal Bed Methane (CBM) Market – Macro Economic Scenario
- Coal Bed Methane (CBM) Market Size And Growth
- Coal Bed Methane (CBM) Market Segmentation
- Coal Bed Methane (CBM) Market Regional And Country Analysis
………
- Key Mergers And Acquisitions In The Coal Bed Methane (CBM) Market
- Coal Bed Methane (CBM) Market Future Outlook and Potential Analysis
- Appendix
List Of Tables :
Table 1: Global Historic Market Growth, 2017-2022, $ Billion
Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
Table 3: Global Coal Bed Methane (CBM) Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 4: Global Coal Bed Methane (CBM) Market, Segmentation By Raw Materials, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
Table 5: Global Coal Bed Methane (CBM) Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
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Table 47: Arrow Energy Holdings Pty Ltd. Financial Performance
Table 48: Baker Hughes Company Financial Performance
Table 49: BP Plc. Financial Performance
Table 50: Essar Group Financial Performance
Table 51: G3 Exploration Financial Performance
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