Coal Bed Methane (CBM) Market is
estimated to reach USD 17.3 billion by 2020, growing at a CAGR of 5.9% from
2014 to 2020. Natural gas, the cleanest of all the fossil fuels is a rapidly
growing energy source and is gaining market share significantly. Owing to its
increasing applications for domestic and transportation use, it has been
evolving as one of the primary sources of global fuel.
Coal bed methane (CBM) is also known as coal bed gas,
coal-mine gas, or coal seam gas (CSG). Coal Bed Methane market is estimated to
gain moderate growth owing to its growing application in manufacturing,
residential, automotive sector. Shale gas and CBM are used as alternatives for
depleting oil reserves and increasing energy demand.
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Moreover, it is expected that availability of unconventional
sources is much higher than conventional natural gas sources. CBM production is
projected to increase over the forecast period owing to increased exploration
and extraction of conventional natural gas globally. By application of vertical
drilling, the cost of producing one cubic meter of CBM costs around USD 0.11.
Drilling cost is approximately around 75% of total production of one cubic
meter of CBM. Maintenance cost for equipment and machinery costs nearly 6.8% of
the total cost, while the operational expenses goes to 5.4% of the total cost.
Application Insight:
The major application for this segment includes industrial,
power generation, commercial, Residential, automotive sector and
transportation. In 2013, over 64% of total production was consumed by
industries and power generation plants. Currently, power generation is the most
attractive investment sector globally owing to higher return on investment. CBM
can be converted into petrol, ethanol or diesel, can also be stored in
canisters for application of domestic or local fuels. The high quality of gas
recovered is suitable for replacing conventional natural gas in power stations
which include gas turbines and gas engines systems.
Regional Insight:
Globally, Canada and USA are largest producers accounting
for over 70% of total volume in 2013. Demand for CBM in the region is largely
driven by the increasing market for sustainable fuel in U.S. and to reduce the
reliance on conventional sources of natural gas. The Asia Pacific region, owing
to increasing drilling operations mostly in coal-rich nations such as India,
China, Australia, Indonesia is expected to be the fastest growing CBM market
globally.
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Market Segment:
CBM Application
Outlook (Volume, Bcf; Revenue, USD Billion; 2012-2020)
• Power
Generation
• Industrial
• Residential
• Commercial
•
Transportation
Regional coverage of
the database includes:
• North
America
• U.S.
•
Canada
• Europe
•
Russia
• Asia-Pacific
•
China
•
India
•
Australia
•
Indonesia
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