Coal bed methane (CBM) is an unconventional form of natural gas obtained in coal deposit or coal seams. coal bed methane is formed during process of coalification and is recovered from underground coal after, during, and before mining operation.
Increasing emission of methane from conventional fuel and shifting focus of industries towards use of unconventional energy are major factors expected to drive growth of the global coal bed market. In addition, rising concerns toward environmental issues such as increase in carbon-di-oxide level and earning carbon credits are other factors expected to fuel growth of the global coal bed market.
However, risk involved in the extraction of methane from coal bed is major factors restraining growth of the global coal bed market. Additionally, strict government rules regarding methane extraction is another factor expected to hamper growth of the global coal bed methane market.
Technological development in carbon bed methane serving as a supplement to the conventional natural gas supply and is expected to present new opportunities to market players in the global coal bed methane market over the forecast period.
The global coal bed methane market is segmented on the basis of application and region. On the basis of region, the global coal bed methane market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa
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North America market is expected to account for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to presence of oil and gas industries, presence of leading coal methane extractors. Europe market accounts for the second largest revenue share contribution to the global coal bed methane market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to rising environment related concerns, industries opting to unconventional energy, in emerging economies in this region.
Prominent players in the global coal bed methane market include Santos Limited, Quicksilver Resources Inc., Baker Hughes, a GE company, BG Group Limited, Arrow Energy, Inc., Blue Energy Limited, Halliburton, Dart Energy Limited, Fortune Oil PLC, ConocoPhillips Co., Inc., and Metgasco Limited.
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