Coal Bed Methane Market Will Reach $17,956 M by 2023

New market study launched by ASDReports.com

AMSTERDAM, NETHERLANDS, August 10, 2017 /EINPresswire.com/ -- A new report, now available on ASDReports, titled, Coal Bed Methane Market by Application- Global Opportunity Analysis and Industry Forecast, 2017-2023,, stats that the coal bed methane market was valued at $9,089 million in 2016, and is projected to reach at $17,956 million by 2023, growing at a CAGR of 9.0% from 2017 to 2023. North America dominates the coal bed methane (CBM) market, both in terms of volume and value, and is expected to maintain this trend throughout the forecast period.

Coal bed methane (coal seam methane) is a mixture of methane and trace quantities of light hydrocarbons, nitrogen, and CO2, which are generated during the geological transformation from peat to anthracite coal in underground coal seams.

The global coal bed methane market is driven by reduction in methane emissions associated with conventional fuels and coal mining, lower pricing of CBM compared to other unconventional natural gases, and generation of direct and indirect employment in the extraction of CBM. However, the large initial capital required for well drilling, stimulation, and water handling, and the difficulty in estimation of recoverable volumes in evaluation of CBM proposals hinder the market growth.

The industrial segment accounted for more than two-fifths share of the total CBM market in 2016, in terms of value, and is expected to maintain its dominance during the forecast period, owing to its chemical feedstock properties, heating, and power generation usage. However, application of CBM in transportation is expected to grow at highest rate due to low emission levels of methane.

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Stefan Koopman
ASDReports
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