Table of Contents
Historical Data, Premium Insights, Market Dynamic, Analysis and Projection, By Product, Analysis and Projection, By Application, Analysis and Projection, By End-Use, Analysis and Projection, By Regional Analysis, Competitive Landscape, Company Profiles, Market Revenue, Sale & Price Analysis
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Utility Truck Market Impact Investing Market Debt Security Market Decentralized Insurance Market SizeGlobal Coal Bed Methane Market Size to Exceed USD 20.12 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Coal Bed Methane Market Size Expected to Grow from USD 12.52 Billion in 2023 to USD 20.12 Billion by 2033, at a CAGR of 4.86% during the forecast period 2023-2033.
Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Coal Bed Methane Market Size, Share, and COVID-19 Impact Analysis, By Technology (Hydraulic Fracturing, Horizontal Drilling, and CO2 Sequestration), By End-User (Residential, Commercial, Industrial, Power Generation, and Transportation), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033
The exploration, the extraction process, and use of coal bed methane (CBM), an unconventional natural gas that occurs in coal seams or deposits, are all part of the coal bed methane (CBM) market. CBM is created when plant matter undergoes thermal or microbiological transformations to become coal. Extracting it can help lower the risk of explosions in coal mines, and it is regarded as a clean-burning fuel used in homes and businesses. Because of the growing emphasis on clean energy and government efforts to become carbon neutral in the upcoming years, the market is anticipated to expand over the forecast period. Additionally, the key factors that are anticipated to propel the coal bed methane market overall over the estimated period include the growing consumer demand for power across multiple sectors, including residential, industrial, and commercial, as well as shifting preferences to use coal bed methane as a power generating source to meet the growing demand for electricity across the regions. However, underutilization of prospective energy resources results from the difficulty of collecting a significant amount of methane from many coal seams, particularly those with low permeability.
The hydraulic fracturing segment accounted for the largest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on technology, the global coal bed methane market is categorized as hydraulic fracturing, horizontal drilling, and CO2 sequestration. Among these, the hydraulic fracturing segment accounted for the largest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. This is because of its potential to greatly increase coal seam permeability, which will improve methane flow. Key factors propelling the segment's growth are the growing need for unconventional gas supplies and continuous technological developments that lower the cost of hydraulic fracturing.
The industrial segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe.
Based on the end-user, the global coal bed methane market is categorized as residential, commercial, industrial, power generation, and transportation. Among these, the industrial segment accounted for the highest share in 2023 and is anticipated to grow at a significant CAGR during the projected timeframe. A preference for cleaner and more efficient fuel sources, greater industrial activity, rising energy demand, and technological breakthroughs that improve CBM efficiency in industrial operations are all contributing factors to the growth in CBM usage in industrial applications.
North America is projected to hold the largest share of the global coal bed methane market over the forecast period.
North America is projected to hold the largest share of the global coal bed methane market over the forecast period. This is because of the large output of coal bed methane (CBM) and the sizeable reserves in the United States and Canada, North America dominated the worldwide coal bed methane industry. While Canada's CBM operations are centered on Alberta and British Columbia, the United States produces a significant amount of CBM in Wyoming, Colorado, and West Virginia. Growth in North America is anticipated to be driven by increased investments in infrastructure, extraction technologies, and government regulations that support natural gas as a cleaner energy source.
Europe is expected to grow at the fastest CAGR growth of the global coal bed methane market during the forecast period. This is due to Poland, Germany, and Russia's limited output of coal bed methane (CBM), the market in Europe is steadily expanding. The region's market is expected to develop as a result of growing European Union assistance for reducing carbon and methane emissions from coal mining as well as technological advancements in drilling methods. As per the 2021 report by the United Nations Framework Convention on Climate Change (UNFCCC), the EU's energy sector emitted 2,497 thousand tons of methane, ranking third in terms of emissions, after waste and agriculture. 908 thousand tons of this came from coal mining, which was responsible for 6% of all methane emissions in the EU.
Company Profiling
Major vendors in the global coal bed methane market are Essar, Reliance Industries Limited, Arrow Energy Pty Ltd., PetroChina Company Limited, Baker Hughes (a GE Company LLC), Petroliam Nasional Berhad (PETRONAS), G3 Exploration, ConocoPhillips Company, GEECL, Halliburton, bp p.l.c., Gazprom. and Others.
Key Target Audience
Key Market Development
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global coal bed methane market based on the below-mentioned segments:
Global Coal Bed Methane Market, By Technology
Global Coal Bed Methane Market, By End-User
Global Coal Bed Methane Market, By Regional
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