The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

A significant increase in global electricity consumption is expected to drive innovation in coal bed methane CBM manufacturing, thereby driving the market during the forecast period.

The global coal bed methane CBM market is expected to grow from $17.82 billion in 2022 to $18.82 billion in 2023 at a compound annual growth rate (CAGR) of 5.6%. The coal bed methane (CBM) market is expected to grow to $22.97 billion in 2027 at a CAGR of 5.1%.

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Global Coal Bed Methane CBM Market Segments Include:

• By Type: CBM Wells, Coal Mines
• By Raw Materials: Natural gas, Coal
• By Technology: Horizontal Drilling, Hydraulic Fracturing, CO2 Sequestration
• By Application: Industrial, Power Generation, Transportation, Commercial, Residential
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global coal bed methane CBM market in 2021.

Major Market Players in the coal bed methane CBM market include Arrow Energy Holdings Pty Ltd., Baker Hughes Company, BP Plc., Essar Group, G3 Exploration, Halliburton Company, Petroliam Nasional Berhad.

Government initiatives for clean energy sources of natural gas is expected to drive the coal bed methane (CBM) market going forward. Governments from various countries are putting their efforts into a clean energy source to deliver natural gas worldwide. These initiatives will provide a push towards coal bed methane which is a clean source of natural gas, driving significant demand for it. For instance, in October 2022, The Directorate General of Hydrocarbons (DGH), an India-based upstream regulator, announced the offering of 16 coal bed methane blocks and 26 oil and gas blocks in the ninth and most recent exploration licensing round of the nation. There are 26 oil and gas blocks in total, 15 of which are in ultra-deep water, 8 in shallow water, and 3 on land. They encircle a 223,000-square-kilometer area. Furthermore, in December 2021, the US Department of Energy (DOE), an executive branch of the US federal government in charge of overseeing US national energy policy, announced the allocation of $35 million for twelve projects aimed at developing technology to reduce methane emissions in the oil, gas, and coal sectors. Reducing Emissions of Methane Every Day of the Year (REMEDY) is a programme developed by the DOE’s Advanced Research Projects Agency-Energy (ARPA-E) to significantly reduce methane emissions in the United States. As a result, government initiatives for clean natural gas energy sources will drive the growth of the coal bed methane (CBM) market.

The Coal Bed Methane CBM Global Market Report 2023  provides a coal bed methane CBM market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The coal bed methane CBM market forecast analyzes coal bed methane CBM market size, coal bed methane CBM market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Coal bed methane (CBM) is a rare type of natural gas that is discovered in coal seams or deposits. It is a primary source of clean natural gas energy. CBM is produced as a byproduct of the coalification process, which converts plant matter into coal.

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