Coal Bed Methane Market Size & Share, by Technology (Hydraulic Fracturing, Horizontal Drilling, CO2 Sequestration); Application (Residential, Commercial, Power Generation, Transportation) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

Growth Drivers

• Growing Mining Activities across the World for the Extraction of Coal – Huge amounts of coal are used across the world for the production of electricity and other eat generation purposes which are estimated to fuel the coal bed methane market growth. The market growth is attributed to the rising application of coal in pharmaceuticals, cosmetics, and other construction activities such as building, roads, houses, and automobiles is boosting the coal bed methane market growth. The production volume of coal worldwide in 2021 reached about 170 exajoules.
• Rising Use of Methane Gas Owing to Government Initiatives – Methane usage in agricultural facilities can reduce air pollution as it is one of the greenhouse gases with less production of CO2. The capturing of methane gas from the air lessens air pollution ensuring the safety of the ecosystem.
• Increasing Concern towards Environmental Pollution – Methane is used in wastewater treatment in many countries and for cooking to reduce the carbon footprint across the world propelling the market growth. Moreover, the reduction in the global warming effect with less consumption of fuels is predicted to boost the coal bed methane market growth.

Challenges

• Reduces Air Quality – The methane gas when released into the air can be harmful to animals, plants, and humans affecting the ecosystem. The presence of methane gas in the air decreases the oxygen availability to breathe.  Inhalation of methane gas leads to mood changes, slurred speech, memory loss, nausea, vomiting, vision issues, headache, and facial flushing, and in severe conditions can cause breathing problems, change in heart rate, numbness, balance issues, and become unconscious. All these factors are associated with the hampering of the market growth.
• Highly Flammable and Hazardous to Climate
• Death of Workers During the Extraction Process