Coal Bed Methane Market size is anticipated to reach USD 16.3 Billion by the end of 2035, witnessing around 4% CAGR between 2023 and 2035. In the year 2022, the industry size of coal bed methane was USD 10.2 Billion. Increasing demand for coal bed methane is attributed to its eco-friendly nature compared to coal, oil, and other natural gases which is estimated to propel the market growth. According to the estimations, nearly 4 trillion cubic meters of natural gas were consumed across the world as of 2021.
The rising need for power supply with a growing population and consumption rate in the industrial, commercial, and residential sectors is estimated to boost market growth. As per the Environmental Protection Agency 2023, about 532 operational landfill gas energy projects in the U.S. and 466 landfills are suitable for energy projects.
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~ 4% |
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Base Year Market Size (2022) |
~ USD 10.2 Billion |
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Forecast Year Market Size (2035) |
~ USD 16.3 Billion |
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Regional Scope |
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Growth Drivers
Challenges
Application (Residential, Commercial, Power Generation, Transportation)
The power generation segment is estimated to register a significant market share during the forecast period. The methane gas extracted is used to burn turbines in the power generation industry which produces electricity and thereby propelling the market segment growth. This type of power generation is less expensive and reduces greenhouse gas emissions which are attracting consumers to the coal bed methane market.
Application (Residential, Commercial, Power Generation, Transportation)
The coal bed methane market from commercial segment holds a substantial market share between 2023-2035 owing to the rising applications of coal bed methane in various industries such as gas stations, turbines, liquid petrol gas, biofuel, plastic, and pharmaceuticals. Other commercial uses of methane gas include rocket fuel prepared by combining it with oxygen which is also estimated to drive the market segment growth.
Our in-depth analysis of the market includes the following segments:
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Technology |
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Application |
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North American Market Statistics
North American coal bed methane market region to garner a significant market share between 2023-2035. The rising adoption of green energy and low-cost fuels is estimated to drive the growth of the market. Stringent regulations from the government to reduce greenhouse gas emissions and rising concern for the environment are propelling the growth of the market. The growing applications of coal bed methane as diesel, gasoline, power generation, and compressed natural gas or biofuels are driving the market expansion in the region. Nearly 68% of the landfill gas energy projects in the United States that are functional are generating electricity as of 2023 data from Environment Protection Agency. Rising investment by the companies in the market region is driving the market size expansion. Also, the rising use of biofuels in the automobile industry to reduce air pollution from fossil fuels is anticipated to hike market growth.
APAC Market Analysis
Escalating demand for fertilizers in the region with growing agricultural land is expected to fuel the coal bed methane market growth. The rising usage of methane in the manufacturing of fertilizers is anticipated to promote growth opportunities in the region. Further, the need for clean bio-energy for cooking and heating is influencing the use of methane as biogas in many industries and household applications thereby estimated to hike the market growth. Nearly 32% of the primary energy consumption in India is generated from biomass and over 70% of the population in the country relies on it for energy sources as of 2021 Ministry of New and Renewable Energy.
In the News
Author Credits: Smruti Ranjan, Rajrani Baghel
Ans: Rising use of methane gas and growing mining activities are the major factors driving the market growth.
Ans: The market size of coal bed methane is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2023 – 2035.
Ans: The major players in the market are Reliance Industries Limited, Arrow Energy Pty Ltd., PetroChina Company Limited, Baker Hughes, a GE Company LLC, Petroliam Nasional Berhad (PETRONAS), G3 Exploration, ConocoPhillips Company, GEECL, Halliburton, and others.
Ans: The company profiles are selected based on the revenues generated from the product segment, the geographical presence of the company which determines the revenue generating capacity as well as the new products being launched into the market by the company.
Ans: The market is segmented by technology, application, and by region.
Ans: The power generation segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Ans: Reduction in air quality and highly flammable and hazardous are estimated to be the growth hindering factors for the market expansion.
Ans: The market in the North American region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
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