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

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Coalbed methane (CBM or coal-bed methane), coalbed gas, coal seam gas (CSG), or coal-mine methane (CMM)[2] is a form of natural gas extracted from coal beds.In recent decades it has become an important source of energy in United States, Canada, Australia, and other countries.

The term refers to methane adsorbed into the solid matrix of the coal. It is called 'sweet gas' because of its lack of hydrogen sulfide. The presence of this gas is well known from its occurrence in underground coal mining, where it presents a serious safety risk. Coalbed methane is distinct from a typical sandstone or other conventional gas reservoir, as the methane is stored within the coal by a process called adsorption. The methane is in a near-liquid state, lining the inside of pores within the coal (called the matrix). The open fractures in the coal (called the cleats) can also contain free gas or can be saturated with water.[citation needed]

Unlike much natural gas from conventional reservoirs, coalbed methane contains very little heavier hydrocarbons such as propane or butane, and no natural-gas condensate. It often contains up to a few percent carbon dioxide. Source: Wikipedia

What is coalbed methane?

Most coal has some methane (the main component of natural gas) trapped inside it. This methane is produced during the coal formation process and gets trapped on the surface of the coal in tiny pores and fractures.1 Many coalbeds also contain large amounts of water; the pressure from this water keeps the methane in place. Coalbed methane is extracted by pumping out the water, which lowers the pressure, allowing the gas to detach from the coal surface and flow out into the well.

U.S. coalbed methane production peaked at nearly 2 trillion cubic feet in 2008, but dropped steadily in later years, with 1 trillion cubic feet produced in 2016, mostly from Colorado, New Mexico, Wyoming, and Virginia.3 In 2016, coalbed methane provided around 4 percent of total U.S. natural gas production.[Ref: americangeosciences.org]

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