Coal Bed Methane (CBM) Market Share, Industry Trends, Growth Rate Ana Forecast To 2032

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Coal Bed Methane (CBM) Global Market Report 2023 identifies considerable surge in electricity consumption around the world as the major driver for the coal bed methane (CBM) market's growth in the forecast period. 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.

The global coal bed methane (CBM) market 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%.

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Major competitors in the coal bed methane (CBM) market are Arrow Energy Holdings Pty Ltd., Baker Hughes Company, BP Plc., Essar Group, G3 Exploration, Halliburton Company, Petroliam Nasional Berhad.

A key trend in the coal bed methane (CBM) market includes government initiatives for clean energy sources of natural gas. 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.

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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

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the coal bed methane (CBM) market.

The Business Research Company's "Global Coal Bed Methane (CBM) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Coal Bed Methane (CBM) Market Include:
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. Coal Bed Methane (CBM) Market Size And Growth
……..
26. Africa Coal Bed Methane (CBM) Market
27. Coal Bed Methane (CBM) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Coal Bed Methane (CBM) Market
29. Coal Bed Methane (CBM) Market Future Outlook and Potential Analysis
30. Appendix

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