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Energy Industry News Releases

Coal Bed Methane Market, Size, Share, Outlook and Growth Opportunities 2019-2026


(EnergyIndustry.Net, April 10, 2020 ) Market Overview
• The Global Coal Bed Methane Market is expected to grow at a CAGR during the forecasting period (2019-2026).
• Natural Gas has gained traction over the past few years as the best alternative to the liquid fuels that are clean, environment-friendly reducing the carbon footprint, less environmental impact.
• In this scenario, CBM (Coal Bed Methane) has come up providing a clean source of fuel for increasing energy consumption needs. Natural Gas is evolving as the primary source of fuel replacing the crude oil with its penetration increasing into transportation and domestic applications market.
• It’s estimated that recoverable unconventional sources of CBM are much larger than the conventional fuel sources. During the last ten years, many countries having huge coal reserves and are exploring and tapping this clean fuel source trapped beneath the coal seam.
• The technology currently used for extraction of CBM are horizontal drilling, combined with hydraulic fracturing is the predominant technology used for CBM extraction.
• The combination of these technologies has played a crucial role in increasing the production of unconventional gas in North America.
• The Global CBM market was worth USD XX Billion in 2018 and is expected to reach USD XX Billion by 2026.

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Market Growth Drivers and Restraints
• Increased energy demand especially in the APAC region where developing countries like China, India, and Indonesia, which continuously growing the demand for energy at a rate of about 7-8% so as to maintain this growth rate they need around 7.1 btoe (billion tons of oil equivalent) in 2035, which accounts for 42% of the world’s primary energy demand. To meet this demand, they need clean energy fuel where CBM natural gas best fits in.
• Through 2030, China is expected to be the biggest spender on the energy resources. Major driving sectors for this growth in China is mainly from the transportation and domestic household market.
• The main factor restraining in this market is the cost factor associated with this industry: high drilling cost and advanced new drilling techniques to recover CBM efficiently. In CBM drilling cost is estimated to account for 74.3% of the total cost for one cubic meter of CBM gas is produced that’s still a potential reason which is restraining the growth in this industry.

Market Size and Segmentation Analysis
• CBM market segmented based on applications usage is predominantly high in four sectors such as Industrial, Power Generation, commercial, transportation, and Residential. They are the primary consumers of the CBM natural gas.
• The sectoral CBM market can be brought down further where 64% of CBM natural gas is primarily consumed by power generation, and industrial applications, out of which 35.3% of global CBM volumes are used for power generation alone, and this sector will see the fastest growth in demand for CBM until 2026.
• Power generation sector is the primary consumer of Natural gas as it has no impact on our environment. Industrial applications come next in consuming natural gas as a cheap fuel compared to other conventional fuels.
• Transportation and Household sectors are the new emerging sectors where demand has grown tremendously over the past ten years, as major developing countries in the Asia Pacific region are shifting towards natural gas from conventional fuels. Residential market demand for CBM natural gas is driven by the transformation from earlier cooking food by burning wood and replaced by piped natural gas and cylinders.

Geographical Share
• Regarding region, North America is the largest market for CBM globally in the recent years. The growth of the CBM market in the North American region is driven primarily by the continuous growing demand for sustainable green fuel in the country supporting for their industries as well as heating purposes due to harsh cold climate faced by these regions countries during the most time of the year
• In 2018 US CBM production was 277 million cubic meters of which were highest dominating in the CBM market. Canada follows in the global market, accounting for 62 million cubic meters of total production in 2018.
• However, In the Asia Pacific growing drilling activities mainly in coal-rich countries, such as China, India, Indonesia, and Australia rising energy consumption is driving demand for the growth of CBM market in these countries as they are considering a gradual shift towards the clean CBM fuel rather than using the conventional fuels.
• The region is currently witnessing high GDP growth rates. GDP growth is leading to increasing demand for energy in the region.
• Especially, Indonesia has strong potential for CBM developments due to a very high reservoir quality of Coal reserves they are possessing. China, India, and Indonesia contain a vast amount of unproven reserves for CBM, which in turn has been attracting companies to invest in the region.

Competitive Analysis
• Industry players such as Arrow Energy, Dart Energy, Santos, PetroChina, and Petronas, are facing some crucial challenges in the recent years.
• As the growth of this industry is linked with prices of the natural gas, its prices are tumbling under USD 5 per MMBTU (Million Metric British Thermal Unit) from past many years which is tough for these players to extract out their investment cost involved into these high-end complex projects recovering out maximum non-conventional resources.
• There is again a strict regulatory framework designed for these companies for extraction of these resources by various environmental agencies which get coupled with the highly capital intensive process is also a key challenge for industry players over the next ten years.
• The competition in the market would be stiff, with the winners standing to gain significant rewards. Two companies Arrow Energy and BG Group currently account for half of the global CBM market, while the rest of the market sees stiff competition between companies such as Santos, Origin Energy, PetroChina, Great Eastern Energy, and Dart Energy (Acquired by iGas).
Key Takeaways:
• Exploration and commercialization of unconventional hydrocarbon energy sources are seen as a critical step by energy agencies, to stabilize the energy supply-demand gap in the coming years. With CBM being a pure natural gas form, producers and consumers also have the opportunity to obtain much-needed carbon credits and tax incentives.
• Its lower carbon emissions have seen it challenge coal, as its supporters tout its ability to run below carbon emissions regulation imposed in countries such as the US and Australia.

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