Coal Bed Methane Market – Global Industry Size, Market Share, Trends, Analysis, and Forecast, 2010 – 2018, the report by Transparency Market Research provides valuable insights about the growth opportunities and future prospects about the global coal bed methane (CBM) market during the defined forecast of the report, 2013-2018.
According to the report, the global coal bed methane industry had a market value worth nearly USD 12,607.4 million in 2010. This value is estimated to grow at a CAGR of 3.2% during the forecast period and rise to 15,318.9 million by 2018.
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Volume-wise, this market was estimated to have demands worth nearly 2,932 billion cubic feet during the year 2010. This is estimated to rise to nearly 4,074.2 billion cubic feet by 2018.
The global CBM market is huge. CBM is the major source of gas used for domestic use in many countries. For instance, in Queensland, CBM contributes around 90% of the country’s requirement of gas for homes and businesses. Over 25% of electricity in Queensland is generated by using CBM.
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Coalbed methane (CBM) reserves are relatively the most unexploited form of energy sources, but ones with huge potential. It is estimated that coal beds can contain nearly seven times as much natural gas as is contained in the conventional natural gas reservoirs.
It is estimated that nearly 7,500 trillion cubic feet reserves of CBM are present in and around various parts of the world.
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Major factors considered as driving this market include the rising focus on lessening the worldwide use of conventional gas sources and thereby mitigating the carbon impression on the environment.