Coalbed Methane Market To Reach $17.31 Billion By 2020: Grand View Research
- Published: Thursday, 09 July 2015
- Author: Daily News
SAN FRANCISCO, Calif. – The global coalbed methane (CBM) market is expected to reach US$17.31 billion by 2020, growing at a CAGR of 5.9 per cent from 2014 to 2020. Unconventional CBM reserves, especially in coal-rich regions are increasingly gaining the spotlight as the industry strives for energy independence.
Exploration and commercialization of unconventional hydrocarbon energy sources is seen as a critical step by energy agencies to stabilize the energy supply-demand gap in the coming years. With CBM being a pure natural gas form, producers and consumers also have the opportunity to obtain much needed carbon credits and tax incentives.
The strict framework designed for extraction by various environmental agencies coupled with the highly capital intensive process is expected to be a key challenge for industry participants over the next six years.
Further key findings from the study suggest:
- Global CBM production was 2,920.3 Bcf in 2013 and is expected to reach 4,667.4 Bcf by 2020, growing at a CAGR of seven per cent from 2014 to 2020.
- Power generation and industrial applications dominated CBM usage, accounting for over 64 per cent of global volumes in 2013, with the former expected to be the fastest growing CBM market, at an estimated CAGR of 8.5 per cent from 2014 to 2020.
- U.S. and Canada are the largest CBM producers, accounting for over 70 per cent of global volume in 2013. U.S. CBM market revenues were estimated at US$7.22 billion in 2013 and are expected to grow at a CAGR of 5.4 per cent from 2014 to 2020.
- Asia Pacific is expected to be the most dynamic regional market, with significant unexplored reserves. China, India and Indonesia are expected to lead the Asian CBM industry. The Chinese Ministry of Land and Resources has already announced plans to produce 16 billion cubic metres of coalbed methane by 2015, while Indonesia has already audited 1,000 bcf net resources and has production target of over 15,000 bcf by 2020.
- Key companies involved in CBM extraction include Arrow Energy, Dart Energy, Santos, PetroCHina and Petronas.
Browse full research report with TOC on "Coal Bed Methane (CBM) Market Analysis By Application (Industrial, Power Generation, Residential, Commercial and Transportation) And Segment Forecasts To 2020" at: http://www.grandviewresearch.com/industry-analysis/coal-bed-methane-industry.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports and consulting services. To help clients make informed business decisions, it offers market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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