Coal Bed Methane Market: Current Analysis and Forecast (2022-2028)
$3999 – $6999
Emphasis on Technology (Horizontal Drilling, Hydraulic Fracturing, CO2 Sequestration, Proppants); Application (Residential, Commercial, Industrial, Power Generation, Transportation, Others); and Region/Country
The global coal bed methane market is expected to witness a CAGR of around 7% during the forecast period (2022-2028). As the market is anticipated to witness a reduction in methane emissions associated with conventional fuels and coal mining, and due to the low price of CBM in comparison to other conventional natural gases and generation of direct and indirect employment in the extraction of CBM is going to drive the market growth. For instance, ONGC is planning to dig 400 new wells 15 in Prabatpur of Bokaro district will be there to increase the CBM production by 4,00,000 cubic meters in Jharkhand by 2020-21. Owing the facts of an eco-friendly, and carbon-free environment and the rapid development across end-user industries are propelling the growth of natural gas to which the growth of the coal bed methane market will be seen globally.
In addition, major players such as Baker Hughes Incorporated, Encana Corporation, Blue Energy Limited, ConocoPhillips Company, Arrow Energy Pty Ltd, Halliburton, BP p.l.c., Santos Ltd, China United Coalbed Methane Corp., Weatherford. Several M&As along with partnerships have been undertaken by these players to develop the coal bed methane market.
Coal bed methane (CBM) is a form of natural gas extracted from coal beds. In other words, CBM is an unconventional natural gas found adsorbed in coal seams. Additionally, CBM is mainly done by the process of coalification and is also extracted underground where plant materials are converted into coal over millions of years. CBM is found to be the most eco-friendly than oil, conventional natural gases, coal, and others. In addition, CBM consists of pure methane, as it contains lesser impurities and minimal processing, which is known as a clean-burning fuel. Furthermore, CBM is an unconventional energy source used for power generation. For instance, according to IEA, during 2022-24, the average annual demand for electricity will grow by 2.7% with renewable resources. In addition, major players such as Baker Hughes Incorporated, Encana Corporation, Blue Energy Limited, ConocoPhillips Company, and many others in the market are continuously developing methods for growing the coal bed methane market.
Baker Hughes Incorporated, Encana Corporation, Blue Energy Limited, ConocoPhillips Company, Arrow Energy Pty Ltd, Halliburton, BP p.l.c., Santos Ltd, China United Coalbed Methane Corp., Weatherford. Several M&As along with partnerships have been undertaken by these players to develop the coal bed methane market.
However, Covid – 19 has devasted the global economy due to which many sectors experienced a downfall because of the industries shutdowns in various regions. Since the production, and supply in the oil and gas industry, power and other industries were declining due to lack of operations which directly or indirectly affected the market growth of coal bed methane. For instance, global natural gas production in 2020 fell by 2.5%, down to 4014 Bcm, its first decline since the financial crisis that took place globally. Furthermore, the industries have been in process for a certain period, and the usage of coal bed methane is increasing as the concern towards clean energy sources for many different sectors is rapidly increasing. In addition, the production of natural gas requires the use of coal bed methane, which will increase the CBM market growth during the forecasted period.
Insights Presented in the Report
“Amongst technology, horizontal drilling segment to hold a significant share in the market”
Based on technology, the market is fragmented into horizontal drilling, hydraulic fracturing, co2 sequestration, and proppants. During the forecast period, the horizontal drilling segment is likely to have significant growth in the global coal bed methane market. As horizontal drilling is very durable, pipes are very strong and easy to install anywhere, lesser in cost, and less disruption to landscaping, requiring lesser members during installation.
“Amongst application, power generation segment to hold a significant share in the market”
Based on application, the market is fragmented into residential, commercial, industrial, power generation, transportation, and others. In 2020, the power generation segment is seen to have significant growth in the coal bed methane market. In addition, the power generation process converts methane from coal mines into water and carbon dioxide (CO2), which further reduces greenhouse gases (GHGs) significantly.
Asia-Pacific to witness significant growth during the forecast period”
Asia-Pacific is likely going to hold significant growth in the coal bed methane market during the forecasted period. As many significant numbers of unexplored reserves are accelerating the production of CBM in the market. Furthermore, the region has high resources such as unconventional gas, and a huge demand center, and due to the growing interest of various companies, it is also likely to appear as a supply center that is going to lead to the growth of the coal bed methane market. For instance, by 2035, Russia’s Energy Strategy (REA) encourages domestic companies to increase their production as well as expand coal exports throughout the Asia-pacific region. Furthermore, by 2035, new fields of coal are set to increase production, profitability, safety, and pollution control.
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- The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
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- Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
- The study comprehensively covers the market across different segments.
- Deep dive regional level analysis of the industry.
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|2.1.||Research Process of the Coal Bed Methane Market|
|2.2.||Research Methodology of the Coal Bed Methane Market|
|5||GLOBAL COAL BED METHANE MARKET COVID-19 IMPACT|
|6||GLOBAL COAL BED METHANE MARKET REVENUE (USD BN), 2020-2028F|
|9.1.3.||Rest of North America|
|9.2.6.||Rest of Europe|
|9.3.5.||Rest of Asia-Pacific|
|9.4.||Rest of World|
|11||COAL BED METHANE MARKET OPPORTUNITIES|
|12||COAL BED METHANE MARKET TRENDS|
|13||VALUE CHAIN ANALYSIS|
|14.1.1.||Porters Five Forces Analysis|
|15.1.||Baker Hughes Incorporated|
|15.3.||Blue Energy Limited|
|15.5.||Arrow Energy Pty Ltd|
|15.9.||China United Coalbed Methane Corp.|
Research Methodology for the Global Coal Bed Methane Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global coal bed methane market were the three major steps undertaken to create and analyze the adoption of the coal bed methane in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global coal bed methane market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the coal bed methane market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the coal bed methane market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as technology and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the coal bed methane market. Further, we conducted factor analysis using dependent and independent variables such as various technology, and application of coal bed methane equipment. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the coal bed methane market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global coal bed methane market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
- The industry’s market size, in terms of revenue (USD) and the adoption rate of the coal bed methane market across the major markets domestically
- All percentage shares, splits, and breakdowns of market segments and sub-segments
- Key players in the global coal bed methane market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
The data triangulation technique was employed to complete the overall market estimation and to arrive at a precise statistical number for each segment and sub-segment of the global coal bed methane market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of various technology and applications in the global coal bed methane market.
The main objective of the global coal bed methane market study
The current & future market trends other than the global coal bed methane market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investment on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
- Analyze the current and forecast market size of the coal bed methane market in terms of value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
- Segments in the study include areas of technology and applications
- Define and analysis of the regulatory framework for the coal bed methane market industry.
- Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry
- Analyze the current and forecast market size of the coal bed methane market for the major region
- Major countries of regions studied in the report include Asia Pacific, Europe, North America, and the Rest of the world
- Company profiles of the coal bed methane market and the growth strategies adopted by the market players to sustain in the fast-growing market
- Deep dive regional level analysis of the industry