Coal Bed Methane Market Revenue Share, Segmental Analysis, Scope, Demand, Forecast By 2030

Coal Bed Methane Market Overview:

The Coal Bed Methane Market trends are expected grow from USD 18,345.3 Million in 2022 to USD 32,390.49 Million by 2030, CAGR of 5.9% during the ongoing forecast period of 2022-2030

Increasing demand for natural gas: Natural gas is a cleaner burning fossil fuel compared to coal, and the global demand for it is rising. CBM offers an alternative source to meet this demand.

Energy security concerns: Many countries are looking to diversify their energy sources to reduce dependence on traditional suppliers. CBM development can contribute to energy independence.

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Environmental benefits: While still a fossil fuel, CBM offers lower carbon emissions compared to coal. This makes it a more attractive option in the face of climate change concerns.

Abundant supply: Coal seams around the world hold significant amounts of methane gas. This vast resource base makes CBM an attractive option for long-term energy needs.

Key Players

Arrow Energy

Blue Energy

Baker Hughes

Santos Ltd.

China United Coal Bed Methane Corporation

Bg Group (Royal Dutch Shell Plc.)

Bp Plc

Encana Corporation

Concophillips

Origin Energy

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COVID-19 Analysis

Supply chain disruptions, economic situations, fluctuations in demand share, as well as long-term & immediate effect of the COVID-19 pandemic possessed a negative effect on the coal bed methane market growth. The pandemic has slowed down economic activity and pushed the economy into a steep recession. With the roots being in China, the supply chains in the world are facing shutdown and unprecedented disruption. Besides, the initial setback, the industry is likely to return to normalcy during the forecast period and continue growing much beyond also.

Drivers

Increasing Need for Natural Gas to Boost Market Growth: The increasing need for natural gas to be utilized for fuel for residential and commercial purpose will boost market growth in the forecast period.

Market Segmentation

The global coal bed methane market is bifurcated based on technology and application.

By technology, the hydraulic fracturing segment will lead the market over the forecast period.

By application, the industrial segment will dominate the market over the forecast period.

APAC region will have admirable growth in the coal bed methane market over the forecast period. Significant number of unexplored reserves, increased production of coal bed methane, rising demand for energy, huge demand for unconventional gas, and growing interest of different companies are adding to the global coal bed methane market growth in the region.

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Regional Analysis

North America to Head Coal Bed Methane Market

North America will head the coal bed methane market over the forecast period. The presence of key players from the oil and gas industry, growing need for sustainable fuel in Canada and the US, increased focus to reduce the dependency on conventional sources of natural gas, significant gas production in Saudi Arabia, China, and India, are adding to the global coal bed methane market growth in the region. The US followed by Canada will have the utmost market share.

Opportunities

Increased Focus on Using Non-Traditional Gas Sources to offer Robust Opportunities

The depleting traditional natural gas reserves that in turn has led to an increased focus to use non-traditional sources of gas like coal bed methane will offer robust opportunities for the market over the forecast period.

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