Albany, NY -- (SBWIRE) -- 06/05/2014 -- According to a new market report published by Transparency Market Research Coal Bed Methane Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast, 2010 - 2018", the global market for coal bed methane was estimated to be 2,932 bcf in 2010 which is expected to reach market volumes of 4,074.2 bcf by 2018, growing at a CAGR of 4.3% from 2013 to 2018. In terms of revenues, the market was estimated to be worth USD 12,607.4 million in 2010 which is expected to reach USD 15,318.9 million by 2018, growing at a CAGR of 3.2% from 2013 to 2018.
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Major factors driving the global CBM market include focus towards decreasing the reliance on conventional gas sources and potential for green house gases mitigation. CBM is a pure form of natural gas and provides opportunities for producers to earn carbon credits. However, it is a long and capital intensive process and the long durations taken for dewatering are the major factors which are acting as the major barrier to the global market.
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The global market for CBM was led by North America sharing 78.9% of the market in 2011 followed by Asia Pacific and Europe. Asia Pacific is the fastest growing market for CBM growing at a CAGR of 7.3% from 2013 to 2018. The large amount of proven and unproven reserves in countries like China, India and Indonesia are propelling the growth of CBM market in the region. Also, the growing market for LNG (liquefied natural gas) is providing immense opportunities for the players in the global market.
The global CBM market by application was led by the industrial usage segment sharing 37.8% of the market in 2011, followed by power generation with 31% in the same year. Other applications of CBM include residential, commercial and transportation segments. Power generation was the fastest growing application segment growing at a CAGR of 4.5% from 2013 to 2018.
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Some of the major players in the market include Dart Energy, Arrow Energy, Baker Hughes, BG Group, Far East Energy Corp, Queensland Gas, Sydney Gas, Sinopec, PetroChina and so on.
This research is specially designed to estimate and analyze the demand and performance of coal bed methane in global scenario.
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