Global Coal Bed Methane Market: Overview
Coal bed methane is nothing but the methane that is adsorbed by the solid components of the coal. It is distinct from typical sandstone or other gas reservoirs due to the adsorption process. Owing to the lack of hydrogen sulfide, it is also called as “sweet gas”. The methane adsorbed by the coal is in the near-liquid state. The open fractures may also contain free methane gas. It is important to drain out maximum methane gas during extraction process to avoid the risk of explosion. Countries with abundant coal reserves, high energy demand, and high population serve as lucrative markets.
Global Coal Bed Methane Market: Segmentation
The global coal bed methane market is segmented into its application, technology, and geography. On the basis of application, the market is divided into residential, commercial, industrial, power generation, and transportation applications. Based on technology, the market is segregated into horizontal drilling, proppants, and hydraulic fracturing technology. Diversification of the market on the basis of the region is seen in North America, Asia Pacific, Europe, and Rest of the World.
Global Coal Bed Methane Market: Growth Factors
The coal bed methane market is a growing market owing to factors such as a large number of unexplored reserves, increasing investments which will be profitable in the future technological development and shifting focus towards the use of unconventional sources of energy. Opportunity for further growth is visible due to the vast contribution of the coal bed methane towards the global energy mix. However, there are many restraining factors to the market. This restraint can be categorized into environmental restrains, economically restrains, and technical restrains. The environmental restrains include safety issues regarding extraction from depths and risk connected with the emission of greenhouse gas. The economical restrains are encountered in the early stages of recovery. These include the high capital requirement, problems arising from the increasing quantities of water pumped, and requirement of the low pressure pipeline system. Technical restrains include issues arising during the completion and optimization of the designs to achieve maximum production with optimum spacing, number, and location of wells.
Global Coal Bed Methane Market: Regional Analysis
The largest share of the coal bed methane market is held by North America. The biggest resources for coal bed methane are located in Canada and the US. Following North America is Asia Pacific owing to the large numbers of unexplored reserves in this region and increasing demand for methane gas along with the natural gas. Major countries showing a lucrative market in Asia Pacific include China, Indonesia, Australia, and India. Significant growth of the market will also be witnessed in the UK, Russia, and Poland in the European region.
Global Coal Bed Methane Market: Competitive Players
Some of the major companies in the coal bed methane market are Quick Silver Resources Inc., Santos, BG Group, Baker Hughes Incorporated, Blue Energy Limited, Arrow Energy, Dart Energy Ltd., Halliburton, ConocoPhillips, Fortune Oil PLC, and Metgasco Limited.
Global Coal Bed Methane Market: Regional Segment Analysis
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