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Coal Bed Methane (CBM) Market Trends, Top Companies, Share, Growth And Forecast 2033

05-27-2024 11:00 AM CET | Chemicals & Materials

Press release from: The Business research company

Coal Bed Methane (CBM) Market

Coal Bed Methane (CBM) Market

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Coal Bed Methane (CBM) Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $25.06 billion In 2028 At A CAGR Of 5.8% :

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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Coal Bed Methane (CBM) Market Major Segments
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

Key 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.

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Prominent Trend - Global Push For Clean Energy Spurs Coal Bed Methane (CBM) Market Growth

Government initiatives for clean energy sources of natural gas is expected to drive the coal bed methane (CBM) market going forward. 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.

Coal Bed Methane (CBM) 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

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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the coal bed methane (CBM) market share in 2023. The regions covered in the coal bed methane (cbm) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Coal Bed Methane (CBM) Market Report Structure
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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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

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