Industry Insights
Increasing natural gas demand owing to its ecofriendly existence has
led to the development of unconventional reserves such as coalbed
methane (CBM). Shift in trend towards adoption of cleaner fuels in power
generation and in transportation industry as an alternative to coal and
petroleum products has been the major factor for the growth of natural
gas demand.
Depleting conventional oil & gas reserves has led to the shift in
exploration of unconventional reserves such as shale, CBM and tight
gas. According to BP Energy Outlook 2030, natural gas is anticipated to
have demand at par with crude oil in the global energy basket. This
increase in demand for natural gas coupled with developing
unconventional gas reserves is expected to be a major driving factor for
CBM market over the next six years.
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Growing E&P activities globally is also expected to have a
positive impact on the market growth. Increasing environmental hazards
related to petroleum crude and coal along with favourable regulatory
scenario for unconventional reserves is anticipated to augment market
growth. Increasing global natural gas trading and rising gas prices has
further led to feasible extraction of CBM in Australia and China. This
is further supported by the development of horizontal drilling and
fracturing technologies.
Increasing groundwater contamination in coal basins due to CBM
extraction has put the market under several environmental regulations.
This is expected to have a negative impact on the market growth. The CBM
market growth is also restrained by its high cost of extraction.
Application Insights
Power generation was the largest application segment for coal bed
methane market and accounted for over 35% of the total market volume in
2013. CBM has the maximum methane purity and is cleaner as compared to
other natural gas sources. CBM demand from power generation is
anticipated to have the highest growth owing to several governmental
regulations and standards in support of natural gas.
Power generation application was followed by industrial applications
which accounted for over 29% of the total demand in 2013. Expansion of
several existing natural gas pipeline networks coupled with increasing
preference for gas turbines may boost the coal bed methane market demand
from industrial applications. CBM is also gaining insight in
residential and commercial segments for cooking and heating purposes
owing to its high purity and economical aspects.
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Regional Insights
U.S. continued its dominance in global coalbed methane market in
terms of production and accounted for over 61% of the total market share
in 2013. Early development of unconventional gas reserves coupled with
regulatory support has boosted the market growth in this region. CBM
Outreach Program (CMOP) by the U.S. EPA has also fuelled the market
growth over the last few years. U.S. was followed by Canada in terms
global market volume.
Asia Pacific coalbed methane market is expected to project highest
growth rates over the next six years. The market in this region is
characterised by growing E&P activities in nations such as China,
Australia, India and Indonesia owing to large unexplored CBM reserves.
In terms of demand, Asia Pacific is expected to have the maximum
shares owing to the rising disposable income among the rural and
suburban population of this region. The market is expected to have
positive outlook for countries such as China, Australia, Russia and
India due to large technically recoverable CBM reserves.
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