The Global Coal bed Methane Market: The key driving factors for the market development has been the depleting traditional natural gas reserves, which in turn has led to increased focus on using non-traditional sources of gas such as the coal bed methane.

The global coal bed methane market size was valued at USD 16.0 Billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 5.9% from 2020 to 2027.

Coal bed methane is methane trapped in underground coal seams. This type of methane can be accessed using drilling techniques similar to those used in the collection of shale gas. In these deposits, the methane is attached to the surface of the coal. Generally, the seams are also covered in water which must be pumped out to obtain the methane. Pumping out the water reduces the pressure level and allows methane to escape from the seam. Coal bed methane is considered an unconventional gas as it is held tightly in reservoirs and it requires special stimulation and technologies to produce it economically.

Increasing consumption of power across various industrial, commercial and residential sectors and shifting preferences towards coal bed methane for power generation in order to meet the ever-increasing demand for electricity across the globe are major factors expected to drive growth of the gloabal coal bed methane market over the forecast period. In addition, rising adoption of methane-based combustion among industries and commercial sectors for various applications and purpose is resulting in increasing demand for coal bed methane, which in turn is expected to support growth of the target market over the forecast period.

Market segmentation of global coal bed methane can be done on the basis of application, technology and region. Some of the prominent players of the global coal bed methane market include Santos, Quick Silver Resources Inc, Baker Hughes Incorporated, BG Group, Arrow Energy, Blue Energy Limited, Halliburton, Dart Energy Ltd., Fortune Oil PLC, ConocoPhillips and Metgasco Limited. The demand for coal bed methane gas is evident along with the demand for natural gas in China and other Asian countries. Associated exploration in the US has been active in the past few years whereas Canada witnessed lower exploration and the development of fewer extraction technologies pertaining to global coal bed methane market.