In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.
Request InsightsPurchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively. Request Insights
CBM or coal-bed methane, coal bed gas, coal seam gas CSG, or coal-mine methane (CMM) is a natural form of gas that is extracted from coal beds. In recent times it has become a vital source of energy in United States, Canada, Australia and other countries.
The term specifies that methane is adsorbed into the solid matrix of coal. It is known as 'sweet gas' since it has lack of hydrogen sulfide. The existence of this gas is well known for its high degree of prevalence in coal mining process, where the operations include severe safety risk. CBM is different from a typical sandstone or other conventional gas reservoir, as the methane is present within the coal through a process called adsorption. The open fractures in the coal (known as cleats) also comprises of free gases and can be saturated with water.
Unlike other natural gases extracted from conventional reservoirs, CBM contains few heavier hydrocarbons such as propane or butane, but it does not contain natural-gas condensate. It often contains varied percentage of carbon dioxide components.
The global coal bed methane market is expected to grow at a significant CAGR of 9.82% during the forecast period i.e. 2018-2027.On the basis of regional platform, the global coal bed methane market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific is expected to dominate the global coal bed methane market during the forecast period on the back of increased support from government on low carbon emission techniques and growing energy demand in various domestic and industrial applications. Further, Middle East and Africa is also expected to witness marginal growth in the market backed by growing infrastructure and electricity sector. Additionally, availability of large amount of methane gas from CBM fields is anticipated to boost the market shares in North America region.
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Our-in depth analysis of the global coal bed methane market includes the following segments:
The global coal bed methane market is further classified on the basis of region as follows:
According to “World International Energy Agency”, the global energy demand raised by 1.9% in 2017 – the fastest annual increase after 2010. The forces driving up energy demand, led by strong economic growth, outpaced progress on energy efficiency.
Conventional energy emits co2 gases from burning of fossil fuels and further leads to global warming. The coal bed methane system utilization reduces the greenhouse gases which is expected to fuel the market growth over the forecast period.
Rising demand for sustainable energy system with clean source of energy and increased initiatives and support from government for adopting CBM system for utilization of electricity are some of the major factors that are expected to drive the growth of the market over the forecast period.
Increased awareness amongst the people for conserving the environment from pollution produced from conventional techniques is expected to support the growth of market. Additionally, innovations in R&D sector for coal bed methane resource systems with cost effective solutions are expected to show tremendous support for the growth of market in future.
One of the key supporting factor responsible for the successive growth of market is the development of coal bed methane fields in Asia Pacific region for extracting methane gas owing to its uses in various applications.
One of the challenging factors limiting the growth of the global coal bed methane market is the availability of substitutes in large proportion with low environmental issues.
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