Industry Trend Analysis
The global Coal Bed Methane (CBM) market was worth USD 9.21 billion in the year of 2016 and is anticipated to reach approximately USD 19.82 billion by 2025, while registering itself at a compound annual growth rate (CAGR) of 8.89% during the forecast period. The load on the national power grids of emerging countries will be less owing to the increased implementation of coal bed methane (CBM) as a substitute to electricity. Power breakdowns along with an inadequate approach to clean energy can be defeated by utilizing this technology. Biggest CBM stockpiles in Africa discovered by the South African Development Community (SADC), particularly Zimbabwe can certainly amend the economies and can also trim down imports thus boosting the coal bed methane market. CBM can be proficiently employed as a fertilizer with methane which is a source of ammonia utilized in half of the fertilizer market worldwide. Coal bed methane market is vital in supporting food production pace, thus meeting the rising population and its requirements. A CBM based company; Essar is presently rendering 1 million cubic meters of the essential gas to Matix Fertilizers and Chemicals. CBM can be promptly transformed into ethanol, petrol or diesel, retrievable CBM has the capability to be accumulated in canisters or be utilized as a household fuel. Fischer-Tropsch blend model has established to be a proficient method to change a mixture of hydrogen and carbon monoxide into numerous CBM by-products and liquid hydrocarbons. Featuring the potential to grip the requirement of fossil fuels, coal bed methane market is likely to demonstrate robust growth over the forecast period. Rising implementation of alternative energy sources due to the requirement of clean energy will establish to be an advantage for CBM. Coal bed methane (CBM) market has the perspective to present an alternative to the traditional energy sources and can help in trimming down the greenhouse emissions that can sequentially open new approaches for its business growth. For example, coal bed methane market has the possibility to transform Zimbabwe’s balance of sum by cutting down the import of fertilizers and petroleum products which calculates for 32% of the country’s total imports. Encouraging government initiatives promoting the use of alternative energy resources will drive the coal bed methane market over the forecast years. The government of China, on acknowledging the worth of CBM, initiated the progress of the Five-Year Plan that requires the country to manufacture 50 billion m3 of CBM by the end of 2020. Likewise, the Indian government has allotted 31 development blocks for the study and making of CBM thus driving the market industry. A considerable number of uncharted reserves will accelerate the coal bed methane market and propel the growth leading to an amplified production. Russia is considered to have 17 to 80 trillion m3 of overall resources but, market forces and political unsteadiness have confined full-scale production. Also, anticipated resources in Alaska’s embrace a potential of 30 trillion m3, however, are not yet fully inquired.
Application Outlook and Trend Analysis
Coal bed methane has several applications involving, producing liquefied petroleum gas, power generation, pharmaceutical industries, gas engine systems together with furnishing basis of plastics and propelling gas turbines. CBM with balanced amounts of methane gas may also be utilized to restore traditional natural gas along with determining its use as a propeller fuel in vehicles. In 2015, Petroleum and Explosives Safety Organization of India (PESO) released 7 licenses to distribute CBM as an automotive fuel in across the state. Rigorous dewatering is required to remove the gas linked with other characteristics of methane to behave as a greenhouse gas are prone to hinder the growth of coal bed methane market over the forecast period. Groundwater commotion and reduction of groundwater level due to insertion of additives and drawing of groundwater will further limit the industry growth. Coal bed methane market can be sectioned based on an application containing the commercial, industrial, residential, power generation and transportation.
Technology Outlook and Trend Analysis
Based on technology, the market industry is split into parallel boring and CO2 segregation and hydraulic breaking that guides the market, due to the technological innovations accomplished in this technique attached with its ease of utilization and will further balance the coal bed methane market during forecast years.
Regional Outlook and Trend Analysis
Coal bed methane market can be divided into the region as, Europe, Latin America, North America, Asia-Pacific, and MEA. North America guided by the United States is presently holding the highest share. The country has 10 main valleys and 48 producing states, furthermore, uncharted reserves of Alaska will preserve the status of North American industry over the forecast period. Europe and Asia-Pacific will experience high growth rates due to the huge unexplored stockpiles in Australia, Russia, India, and China. Latin America and MEA is predicted to testify a fair growth. Lack of suitable infrastructure could establish a hindrance to the growth of coal bed methane market.
The key market players for the global coal bed methane market are Reliance Power Limited, Essar Oil, Chevron, BP P.L.C., Royal Dutch Shell plc, Arrow Energy, Weatherford, Dart Energy Corporation, PetroChina International Co., Ltd., Santos Ltd., ConocoPhillips Co., Fortune Oil Corporation, and Encana Group, Green Dragon Gas Ltd., Sydney Gas Ltd., Black Diamond Energy, Inc., Pioneer Natural Resource Great Eastern Energy Petronas. Major companies have followed merger, expansion, and product development as their schemes to maintain the strong market competition.
The global coal bed methane market is segmented as follows-
Horizontal drilling and hydraulic fracturing
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?