Coal Bed Methane Market Segment Forecasts up to 2018, Research Reports- Transparency Market Research
Albany, New York (PRWEB) September 26, 2014
Coal Bed Methane (CBM) is a type of natural gas that is commonly extracted from coal beds located at depths between 300 to 1000 metres. This gas is an odorless, colorless mixture of a variety of gases, but with major share of methane – even upto 95% in many cases. The global coal bed methane industry had a market value worth nearly USD 12,607.4 million in 2010. This value is expected to grow at a CAGR of 3.2% during the forecast period and rise to 15,318.9 million by 2018.
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The currently used CBM is estimated to have been formed nearly 200 million years ago, during the time coal was being formed on earth, and has been since trapped in the coal due to water pressure. For extracting the gas, first the water needs to be removed, thus reducing the pressure in coal and enabling the gas to release.
CBM is mostly recovered from un-mined coal or from a coal bed before the process of coal mining begins in it.
- There are two major reasons why CBM is recovered from un-mined coal seams:
1. The process of draining of as much methane as possible from the coal seam is made necessary due to reasons such as reducing the risk of explosion and mitigating methane emissions in the environment to reduce its harmful effects on humans.
2. Methane is recovered for its professional value in energy production, regardless of whether or not the coal would be extracted further.
- Uses of CBM:
CBM represents the form of natural gas with the highest concentration of methane, readily available from coal seams, and lacks impurity due to its highly limited contact with air from mining. Concentration of methane obtained from un-mined coal often exceeds 95%, making it most suitable for replacing the traditional, piped natural gas. This gas can also be directly pumped to businesses and houses through piped networks for use in purposes such as heating and cooking, to name a few.
The excellent quality of CBM also makes it most suitable for use in power generation plants such as gas engine systems or gas turbines, by either replacing or supplementing the use of conventional natural gas. The utilization in power generation plants becomes more feasible with nearness of the plant with the site of CBM recovery. It is also possible to store recovered CBM in gas containers and distribute it as a domestic fuel. CBM can also be stored in compressed liquid form and used as a fuel for automobiles.
- Geographic distribution of reserves and potential for utilization:
The largest reserves of CBM occur in the former Soviet Union, China, United States, Canada and Australia. However, recovery potential of much of these reserves remains untapped. In the year 2006, it was estimated that the world had CBM resources counting upto 143 trillion cubic meters but only nearly 1 trillion cubic meter of it was actually recovered. The lack of incentives to make complete use of the resource base in some countries, particularly in some regions from the former Soviet Union as these regions also have abundant stores of conventional natural gas, is considered the major reason behind this.
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- The Global Scenario:
In Queensland, 90 per cent of the gas used in homes and industry is coal seam gas, and over 25 per cent of Queensland’s electricity is generated using coal seam gas.
The global market of CBM is huge. CBM is the major source of gas used for domestic use. For instance, in Queensland, CBM contributes around 90% of the country’s requirement of gas for homes and businesses. Global market analysts suggest that the demand and usage of CBM was nearly 83.024 billion cubic meter or 2,932 billion cubic feet in the year 2010.
If forecasts of market research organizations such as Transparency Market Research are to be believed, this market holds huge growth potentials and could observe growth at a CAGR of 3.2% (revenue-wise) in the next four years’ duration. This would make industry amass a market value worth USD 15,318.9 million by 2018. The revenues garnered by this industry were estimated to be nearly USD 12,607.4 million in 2010.