Jan 23, 2020 (AmericaNewsHour) --
Coal bed methane (CBM) is the natural gas found in most coal deposits, which is found after the extraction from the un-mined coal beds and adjoining sandstones. Hence, it is also called coal-mine methane (CMM) or coal bed gas or coal seam gas (CSG). It is produced during coalification process where plant material is converted into coal over millions of years. CBM contains pure methane, which is a clean-burning fuel, involves lesser impurities and minimal processing. It is considered more eco-friendly and a better alternative than oil, coal, or even conventional natural gas.
The Global Coal Bed Methane Market was valued at US$ XX Mn in 2016 and is expected to reach US$ XX Mn by 2022 growing at a CAGR of XX% during the forecast period.
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Now the production of CBM is done on a commercial scale due to the development in technology. The demand for energy has been growing tremendously and along with the depleting oil reserves, oil producers are seeking alternative source of energy such as shale gas, tight oil and coal bed methane.
Coal Bed Methane market is estimated to gain reasonable growth as the use of natural gas into sectors like automotive, manufacturing and other residential use is increasing because of the lower price of CBM compared to other unconventional natural gases. Oil deficit economies with high coal reserves are looking forward to discover coal bed methane to decrease their dependence on conventional oil and gas sources. Besides,other factor that boosts the growth of global coal bed methane market is that discovery of CBM helps in mitigation of greenhouse gases,hence improving the safety of coal mining process and also earning carbon credit. Also, exploration of CBM would lead to creation of employment, which would further drive the growth of CBM market.
However, there are environmental concerns over the usage of large quantities of water for the recovery of coal bed methane. Also, high capital intensive projects of coal bed methane exploration is predicted to confine the growth of coal bed methane market during the forecast period.
Despite the challenges, the advantages of CBM over conventional natural gas and its contribution to the global energy mix is a great opportunity for CBM market.
Market segmentation of global coal bed methane can be done on the basis of application, technology and geography.
Power generation and industrial applications are the most dominated CBM usage types.
On the basis of technology, the global carbon bed methane market includes fracturing techniques including hydro-fracturing, proppant-based fracturing and chemical additive based fracturing, exploration, and drilling. Among these, the most frequently used technology for CBM recovery is fracturing technique.
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On the basis of geography, the global coal bed methane market includes North America, Latin America, Asia Pacific, Western Europe, Eastern Europe, and Middle East & Africa. Among these, Canada, China, US, Soviet Union and Australia, are the largest carbon bed methane resource bases, with Canada accounting for the maximum share.
Some of the leading players of the global coal bed methane market include Santos, Quick Silver Resources Inc, ConocoPhillips and Metgasco Limited, Baker Hughes Incorporated, BG Group, Blue Energy Limited, Halliburton, Dart Energy Ltd., Arrow Energy, Fortune Oil PLC, Baltimore Aircoil Company.
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