Coal Bed Methane is an unconventional form of natural gas that is found in coal seams. It is primarily extracted from bituminous and sub-bituminous coals. Coal bed methane can be efficiently used as a fertilizer with methane being a source of ammonia used in half of the world’s fertilizer market. In addition to that, coal bed methane market is essential in assisting food production rate thereby meeting the growing population needs.
Global Coal Bed Methane Market: Key Players
The research study includes profiles of leading companies operating in the global coal bed methane market. Key players profiled in the report include: Arrow Energy Ltd., BG Group PLC, Santos Ltd., Origin Energy Ltd., BP PLC, EnCana Corp., Petronas, Metgasco Ltd., Nexen Inc., Far East Energy Corporation, China United Coal Bed Methane Corp. Ltd., and others.
Drivers for the Global Coal Bed Methane Market:
There are numerous factors that are defining the growth curve of the global coal bed methane market. According to current market situation, increasing potential for greenhouse gas mitigation is a major driver for the growth of the global coal bed methane market. Also, favorable government initiatives towards utilization of unconventional resources will propel the coal bed methane market during the forecast timeline. In addition to this, rise in the extraction and exploration activities on a global scale is also expected to drive the growth of the global coal bed methane market in the coming years of the forecast period. Another important driving factor is the increased levels of investments and funding to improve the drilling and exploration activities for coal bed methane.
Opportunities for the Global Coal Bed Methane Market:
The CBM sector provides opportunities in the ethylene and NGL manufacturing areas. Further, new coal bearing regions are being opened up to players in countries such as India, China and Indonesia. Moreover, growing demand for sustainable fuel in the US and increased focus on reducing the reliance on conventional sources of natural gas would driver the coal bed methane market and creates lucrative opportunity in the North America.
Restrains for the Global Coal Bed Methane Market:
However, the large initial capital commitment for well drilling, stimulation, and water handling, and the difficulty in estimation of recoverable volumes in evaluation of CBM proposals hamper the market growth. Additionally, the long dewatering period and the ongoing debate and studies into environmental concerns hinder CBM development.
Region Wise, Global Coal Bed Methane Market Analysis:
On the basis of region, global coal bed methane market includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific dominated the global coal bed methane market. Significant numbers of unexplored reserves will accelerate the CBM market enhancing the business growth resulting in an increased production of CBM. In the Asia Pacific region, growing GDP is leading to rising demand for energy. The growth of Asia Pacific energy demand is primarily determined by China, Indonesia, and India. Unexplored reserves for CBM in countries such as China, India, and Indonesia are the reason for new competitors are keen to participate in this region. Asia pacific region is followed by North America and Europe.
Covid-19: Impact and Recovery Analysis for Global Coal Bed Methane Market:
The world is greatly affected by the uncertain raise of the covid-19 Pandemic among the population. The Corona virus outbreak has disrupted & disturbed every sector of business as well as human activity. In most parts of the world there has been a complete restriction set by governments regarding various activities and in turn this is greatly affecting the financial stability of industries like: coal bed methane market globally. Most of the industries and businesses like: coal bed methane market is shifting to manufacturing equipment that can support the covid-19 spread from increasing and spreading. The coronavirus pandemic has greatly affected every aspect of the worldwide industry. It has brought along various changes in market conditions. The worldwide crisis of covid-19 is leading to calls for action from a wide range of stakeholders including manufacturers, vendors, distributors, and consumers. Decline in business for at least three months during 2020 coupled with lower demand from a few major markets has put pressure on the profitability of coal bed methane manufacturers and vendors.
Global Coal Bed Methane Market: Product analysis
- Hydraulic Fracturing
- Horizontal Drilling
- CO2 Sequestration
Global Coal Bed Methane Market: Application analysis
- Power Generation
Global Coal Bed Methane Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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