Press release
Coal Bed Methane (CBM) Market Report 2023: Global Size, Share & Growth till 2028
Coal Bed Methane (CBM) Market
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 an invisible, naturally occurring, and scentless hydrocarbon gas that permeates the coal's solid structure. Typically derived from unconventional gas reservoirs through the transformation of plant matter into coal, CBM extraction in underground coal mines carries minimal risk of explosion hazards. As a result, it is a widely adopted alternative energy source for global power generation using gas turbines.
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Global Coal Bed Methane (CBM) Market Trends and Drivers:
The coal bed methane (CBM) market is experiencing significant growth, primarily driven by several key factors. Firstly, the increasing demand for electricity, fueled by rising income levels and a surge in residential construction, is a major catalyst. Furthermore, the growing popularity of digitally connected devices and the increasing electrification of heating and buildings are contributing to market expansion. In addition, the widespread adoption of cost-effective and environmentally friendly fuels is gaining momentum due to heightened consumer environmental awareness and stringent government regulations aimed at reducing greenhouse gas (GHG) emissions. This shift is a substantial growth driver. Moreover, CBM's versatility in conversion into fuels like gasoline, diesel, and compressed natural gas (CNG), which are widely used as biofuels in automobiles, is positively impacting the global market.
Global Coal Bed Methane (CBM) Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are:
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
The ConocoPhillips Company
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The report segmented the market on the basis of region, type, technology and application.
Breakup by Type:
CBM Wells
Coal Mines
Breakup by Technology:
Horizontal Drilling
Hydraulic Fracturing
CO2 Sequestration
Breakup by Application:
Power Generation
Residential
Commercial
Industrial
Transportation
Breakup By Regions:
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
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023- 2028)
Porter's Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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