Coal Bed Methane (CBM) Market Size, Share & Trends Analysis Report By Type, By Application, and Segment Forecasts, 2021-2027

In 2020, the global Coal Bed Methane (CBM) market size was US$ 16890 million and it is expected to reach US$ 24170 million by the end of 2027, with a CAGR of 5.3% during 2021-2027. Consumer demand for electricity is increasing in a range of sectors, including residential, industrial, and commercial, as well as altering preferences for coal bed methane as a power source to meet the growing need for electricity in various regions is expected to drive the growth of coal bed methane market. Furthermore, the global CBM market is growing due to lower methane emissions from conventional fuels and coal mining, a lower price of CBM compared to other unconventional natural gases and the creation of direct and indirect jobs in the CBM extraction process.

Rising government resourcefulness for the use of methane gas (CH4), as well as a growing desire to use ecologically benign energy sources, have aided the rise of the coal bed methane industry.

The growth of the coal bed methane market is predicted to be fueled by rising electricity demand from a variety of end-user sectors. Coal bed methane and its by-products can be used in a variety of industries, including power generation, manufacturing, and transportation. CBM has been utilized to generate electricity in gas turbines instead of natural gas. CBM can also be utilized as a raw material in the production of fertilizers and polymers. Coal bed methane can also be converted into other hydrocarbons like diesel and gasoline, which are commonly used as motor fuels.

There are several CBM sources that have yet to be investigated. As a result, the global coal bed methane market would experience significant growth opportunities in the next years of the forecast period. Furthermore, the global coal bed methane market is expected to grow as a result of increased extraction and exploration operations, as well as increased investments and funding to boost global drilling and development activities

Coal bed methane exploration involves pumping large amounts of water out of coal seams to lessen hydrostatic pressure and liberate the gas. Due to severe and long-term chemical or physical effects on soil structure, produced water from coal bed methane wells has rather high salt, rendering it unsuitable for some agricultural activities. This could have an impact on the expansion of the coal bed methane sector

The United States is the largest market, accounting for about 33% of the Coal Bed Methane market share, followed by China and Canada, each accounting for around 30%. Coal bed methane development is predicted to rise in the United States during the projection period because of large tax benefits. The purified form of methane achieves the maximum proportion of CBM in the coalfields of the United States. Following manufacturing, the finished product is delivered, sold, and priced similarly to natural gas.

In terms of product, CBM Wells is the largest segment, with a Coal Bed Methane market share about 80%, and in terms of application, the largest application is Power Generation, followed by Industrial Fuel, Cooking Fuel, Vehicle Fuel.

Global Coal Bed Methane (CBM) key players include Exxon Mobil(XTO Energy), ConocoPhillips, Australia Pacific LNG, Shell (QGC), etc. Global top four manufacturers hold a share about 40%.

• CBM Wells
• Coal Mines

Coal Bed Methane (CBM) Market by Application

• Power Generation
• Industrial Fuel
• Cooking Fuel
• Vehicle Fuel
• Other