Coal Bed Methane (CBM) Market Size, Share And Growth Report Analysis 2024 To 2033

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 offers in-depth market insights through Coal Bed Methane CBM Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
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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Market Segmentation:
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

Major Driver - The Role Of Coal Bed Methane In Meeting Rising Electricity Demand

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.

Competitive Landscape:
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

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Top Trend - Global Companies Embrace CBM For Environmental Impact Reduction

Major companies in the coal bed methane (CBM) market are focusing on product launches, such as a trial for the continuous injection of Coal Bed Methane (CBM) into a Blast Furnace. Continuous injection of Coal Bed Methane (CBM) refers to the uninterrupted introduction of CBM gas into a system or process, such as blast furnaces in steel production, aiming to enhance efficiency and reduce environmental impact. For instance, in January 2021, Tata Steel Limited, an India-based multinational steel-making company, initiated a 'first-of-its-kind in the world' trial for continuous injection of Coal Bed Methane (CBM) in Blast Furnace to reduce emissions. This trial aims to reduce the coke rate by 10 kg/them and consequently cut 33 kg of CO2 per ton of crude steel. This pioneering initiative not only provides valuable insights into coke rate reduction but also demonstrates the potential of CBM as an injectant in the steel industry, marking a significant advancement in the CBM market and contributing to more sustainable steel production.

The Table Of Content For The Market Report 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
…..
27. Coal Bed Methane CBM Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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