The strict framework designed for extraction by various environmental agencies coupled with the highly capital intensive process is expected to be a key challenge for industry participants over the next six years.
The report “CBM (Coal Bed Methane) Market Analysis and Segment Forecasts to 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/coal-bed-methane-industry
Further Key findings from the study suggest:
• Global CBM production was 2,920.3 Bcf in 2013 and is expected to reach 4,667.4 Bcf by 2020, growing at a CAGR of 7% from 2014 to 2020.
• Power generation and industrial applications dominated CBM usage, accounting for over 64% of global volumes in 2013, with the former expected to be the fastest growing CBM market, at an estimated CAGR of 8.5% from 2014 to 2020.
• U.S. and Canada are the largest CBM producers, accounting for over 70% of global volume in 2013. U.S. CBM market revenues were estimated at USD 7.22 billion in 2013 and are exoected to grow at a CAGR of 5.4% from 2014 to 2020.
• Asia Pacific is expected to be the most dynamic regional market, with significant unexplored reserves. China, India and Indonesia are expected to lead the Asian CBM industry. The Chinese Ministry of Land and Resources has already announced plans to produce 16