Coal Bed Methane (CBM) Market Size, Share, Analysis, Growth, Trends, Industry Report And Outlook

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Coal Bed Methane (CBM) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The coal bed methane (CBM) market size has grown strongly in recent years. It will grow from $18.83 billion in 2023 to $20.01 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to energy security concerns, increasing natural gas demand, coal mining operations, government policies and incentives, environmental benefits.

The coal bed methane (CBM) market size is expected to see strong growth in the next few years. It will grow to $25.06 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to global transition to cleaner energy, technological advancements in extraction, growing focus on unconventional gas resources, energy independence initiatives, expansion of CBM infrastructure. Major trends in the forecast period include government initiatives and regulatory support, innovations in exploration and reservoir management, emergence of CBMs, investments in infrastructure for CBM distribution.

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Key Market Players:
Major companies operating in the coal bed methane (CBM) market report are PetroChina Company Limited, Royal Dutch Shell plc, British Petroleum Plc, Chevron Corporation, Tamboran Resources Limited, Reliance Industries Limited, Petroliam Nasional Berhad, ConocoPhillips Company, Comet Ridge Limited, Baker Hughes Company, Halliburton Company, Origin Energy Limited, AGL Energy Limited, Great Plains Energy Inc, Santos Limited, Western Gas Corporation, Stanmore Coal Limited, Nexen Inc., Far East Energy Corporation, Queensland Gas Company Ltd., Arrow Energy Holdings Pty Ltd., Black Diamond Energy Inc., Great Eastern Energy Corporation Ltd., Central Petroleum Limited, Synergy Resources Corporation, Metgasco Ltd., Essar Group, G3 Exploration Limited (G3E), China United Coalbed Methane Corporation Ltd, Fortune Oil PLC

Market Drivers:
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. For instance, in January 2022, according to the Electricity Market Report shared by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, the global electricity demand grew by 6% from 2020 to 2021. In terms of absolute growth, it was the highest annual gain ever (over 1500 TWh). Therefore, a considerable surge in electricity consumption around the world will drive the coal bed methane (CBM) market.

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The coal bed methane (CBM) market covered in this report 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

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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