Coal Bed Methane Market Share, Industry Research Report & Forecast, 2017 – 2024
Increasing adoption of coal bed methane market as an alternative to electricity will lower the burden on the national power grids of developing countries. Power outages along with limited access to clean energy can be overcome by using this technology. Largest CBM reserves in Africa found in the South African Development Community (SADC), especially Zimbabwe can positively improve the economies and can reduce imports thereby augmenting the coal bed methane market size.
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CBM can be readily converted into diesel, petrol or ethanol, recoverable CBM has the ability to be stored in canisters or be used as a domestic fuel. Fischer-Tropsch synthesis model has proved to be an efficient method to convert a mixture of carbon monoxide and hydrogen into liquid hydrocarbons and numerous CBM by-products. Having the potential to hold the demand of fossil fuels, coal bed methane market is anticipated to show robust growth during the forecast timeframe.
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Increasing adoption of unconventional energy sources owing to the need of clean energy will prove to be a boon for CBM. Coal bed methane market has the potential to offer an alternative to the conventional energy sources and can assist in reducing the greenhouse emissions which can in-turn open new avenues for its business growth. For instance, coal bed methane market has the potential to revolutionize Zimbabwe’s balance of payment by reducing the import of petroleum products and fertilizers which accounts for 32% of the country’s imports.
Coal bed methane market has numerous applications including, power generation, manufacturing liquefied petroleum gas, propelling gas turbines, gas engine systems along with providing basis of plastics and pharmaceutical industries. CBM with proportionate amounts of methane gas can also be used to replace conventional natural gas along with finding its application as a propeller fuel in automotive. In 2015, Petroleum and Explosives Safety Organization of India (PESO) issued 7 license to dispense CBM as a fuel in automotive vehicles across the country.
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Severe dewatering requirement to extract the gas coupled with other properties of methane to act as a greenhouse gas are likely to hamper the growth of coal bed methane market during the forecast timeline. Groundwater disruption and drawdown of groundwater level owing to injection of additives and pumping water from coalbeds will further restrict the industry growth.
Coal bed methane market can be segmented by region, into North America, Europe and Asia-Pacific, MEA and Latin America. North America led by the U.S. is currently holding the largest share. The country has 10 major basins along with 48 producing states, moreover unexplored reserves of Alaska will maintain the position of North American industry during the forecast timeframe. Asia-Pacific and Europe will witness a high growth rates owing to the large unexplored reserves in Russia, Australia, China and India. MEA and Latin America is forecast to witness a moderate growth. Lack of proper infrastructure could prove to be a hindrance in the exponential growth of coal bed methane market by 2024.
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Notable participants in coal bed methane market are Essar Oil, Reliance Power, Halliburton, Chevron, Royal Dutch Shell, BP, Weatherford, Arrow Energy, Dart Energy, Santos, PetroChina, ConocoPhillips, Fortune Oil, Encana Group, Sydney Gas, Green Dragon Gas, Great Eastern Energy Petronas and Pioneer Natural Resource.
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