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Coal Bed Methane (CBM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Report Format: PDF+Excel | Report ID: SR112023A5652
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Market Overview:
The global coal bed methane (CBM) market size reached US$ 18.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 25.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
Coal bed methane (CBM) is a natural, colorless, and odorless hydrocarbon gas, which is absorbed into the solid matrix of the coal. It is obtained from unconventional gas reservoirs by transforming plant material into coal. Its extraction process usually involves minimal risk of explosion hazards in underground coal mines. As a result, it is used as an alternative source of energy in gas turbines for power generation worldwide.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Coal Bed Methane (CBM) Market Trends:
A considerable surge in electricity consumption around the world due to improving income levels and increasing construction of residential homes represents one of the key factors bolstering the growth of the market. This can also be attributed to the growing electrification of heat and buildings and the escalating demand for digitally connected devices. Moreover, the rising adoption of cost-effective and green fuels on account of increasing environmental concerns and stringent government policies on greenhouse gas (GHG) emissions is driving the demand for CBM across the globe. CBM can be converted into diesel, gasoline, or compressed natural gas (CNG), which are commonly used as biofuels in automobiles. Apart from this, CBM is utilized in the production of methanol that finds diverse applications in wastewater treatment and the chemical industry. Furthermore, the escalating usage of CBM as a feedstock for manufacturing fertilizers and plastics is providing lucrative opportunities to manufacturers for expanding their consumer base in the agriculture industry. Besides this, the rising need for clean-burning fuels is further influencing the adoption of CBM in industrial applications, such as cement production, rolling mills, and steel plants, which is projected to strengthen the market growth in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global coal bed methane (CBM) market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, technology and application.
Breakup by Type:
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- CBM Wells
- Coal Mines
Breakup by Technology:
- Horizontal Drilling
- Hydraulic Fracturing
- CO2 Sequestration
Breakup by Application:
- Power Generation
- Residential
- Commercial
- Industrial
- Transportation
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Arrow Energy Holdings Pty Ltd., Baker Hughes Company, BP PLC, Essar Group, G3 Exploration, Halliburton Company, Petroliam Nasional Berhad (PETRONAS), Reliance Industries Limited, Royal Dutch Shell plc, Santos Limited and The ConocoPhillips Company.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2022 |
| Historical Period | 2017-2022 |
| Forecast Period | 2023-2028 |
| Units | US$ Billion |
| Segment Coverage | Type, Technology, Application, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Arrow Energy Holdings Pty Ltd., Baker Hughes Company, BP PLC, Essar Group, G3 Exploration, Halliburton Company, Petroliam Nasional Berhad (PETRONAS), Reliance Industries Limited, Royal Dutch Shell plc, Santos Limited and The ConocoPhillips Company |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2499 Five User License: US$ 3499 Corporate License: US$ 4499 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global Coal Bed Methane (CBM) market was valued at US$ 18.9 Billion in 2022.
We expect the global Coal Bed Methane (CBM) market to exhibit a CAGR of 4.9% during 2023-2028.
The rising demand for clean-burning fuels like Coal Bed Methane (CBM) in various industrial applications, such as cement production, rolling mills, and steel plants, is primarily driving the global Coal Bed Methane (CBM) market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for coal bed methane.
Based on the type, the global Coal Bed Methane (CBM) market can be segmented into CBM wells and coal mines. Currently, CBM wells hold the majority of the total market share.
Based on the technology, the global Coal Bed Methane (CBM) market has been divided into horizontal drilling, hydraulic fracturing, and CO2 sequestration. Among these, horizontal drilling currently exhibits a clear dominance in the market.
Based on the application, the global Coal Bed Methane (CBM) market can be categorized into power generation, residential, commercial, industrial, and transportation. Currently, power generation accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global Coal Bed Methane (CBM) market include Arrow Energy Holdings Pty Ltd., Baker Hughes Company, BP PLC, Essar Group, G3 Exploration, Halliburton Company, Petroliam Nasional Berhad (PETRONAS), Reliance Industries Limited, Royal Dutch Shell plc, Santos Limited, and The ConocoPhillips Company.
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