According to a new market report published by Credence Research Global Coal Bed Methane Market for Oil & Gas Industry - Growth, Future Prospects, Competitive Analysis, and Forecast 2016 - 2023, the Global Coal Bed Methane Market is expected to reach US$ 4.3 Bn by 2023, expanding at a CAGR of 4.3% between 2016 to 2023.

Market Insights

Coal bed methane refers to the extraction of natural gas from the coal beds. Natural gas is generally present in the coal bed in the form of methane. It is also known as coal-mine methane (CMM) or coal bed gas or coal seam gas (CSG). Advancement in technology has facilitated the production of coal bed methane on commercial scale. Growing energy demand and depleting oil reserves influencing oil producer to seek alternative source of energy such as shale gas, tight oil and coal bed methane.

Browse the full Global Coal Bed Methane Market by Application and Geography - Growth, Future Prospects, Competitive Analysis, and Forecast 2016 2023 report at http://www.credenceresearch.com/report/coal-bed-methane-market

Coal Bed Methane market is expected to gain moderate growth with growing application of natural gas into manufacturing, residential and automotive sector. Oil deficit economies with high coal reserves are looking to explore coal bed methane to reduce their dependency on conventional oil and gas. Moreover, exploration of coal bed methane helps in mitigation of greenhouse gases therefore improve the safety of coal mining operations and also earns carbon credits are factors expected to augment the growth of global coal bed methane market over the forecast period. However, environmental concerns over the usage of water for the recovery of coal bed methane and high capital intensive projects of exploration of coal bed methane is anticipated to restrain the growth of coal bed methane market during the forecast period (20216-2023).

Competitive Insights:

Global coal bed methane is segmented on the basis of application and geography. By application, industrial segment is projected to be the most dominant segment. Increasing energy demand coupled with various regulatory policies over emission of green house gas is expected to fuel the growth of the segment over the forecast period. Followed by it, power generation segment is anticipated to be the second largest segment due to increasing demand for natural gas from gas based power plant.

Overall, global coal bed methane market for oil & gas industry is projected to register moderate growth over the forecast period (2016-2023).

 By Application:

Industrial
Residential 
Commercial 

Power Generation 
Transportation

Key Trends:

• Merger & Acquisition
• Development of new techniques

Browse the full Global Coal Bed Methane Market by Application and Geography - Growth, Future Prospects, Competitive Analysis, and Forecast 2016 2023 report at http://www.credenceresearch.com/report/coal-bed-methane-market

Latest Reports:

Carotenoids market: http://www.credenceresearch.com/report/carotenoids-market

About:
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non-legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we've manufactured a firm extraordinarily prepared for this task.

Blog:http://www.mobilecomputingtoday.co.uk/5023/global-coal-bed-methane-market-application-geography-expected-reach-4-3-2023-credence-research/

Media Contact
Name: Chris Smith
Address: 105 N 1st ST #429,
SAN JOSE, CA 95103 US
E-mail: sales@credenceresearch.com
Ph: 1-800-361-8290
Web: http://www.credenceresearch.com