(PRWEB) July 07, 2014
CBM (Coalbed Methane) is consumed in the power generation, commercial, residential, industrial, and transportation sectors. Most of the CBM global consumption can be attributed to industrial utilization followed by power generation. CBM is used in the applications as it is the cleanest burning fossil fuel. In addition, it is easy to store and transport. In North America, unconventional gas exploration and production began comparatively early. The two main producing countries are the U.S. and Canada.
North America dominated the pressure pumping market in 2013. This dominance was observed mainly due to continuous and large activities in the U.S. unconventional gas plays. The unconventional gas recovery and its growth are important reasons for the growth of the pressure pumping market.
The North America had a largest share in the global coal bed methane market. The North America is expected to grow at a moderate rate of 4.7%, from the projected growth of $13,282.2 million in 2016 to $16,699.6 million by 2021. Most of the CBM produced in North America is expected to be used domestically to help reduce dependence on imported fuels. However, some industry experts believe that the combined unconventional gas boom in the U.S., which includes shale and tight gas, may turn the country into an exporter in the distant future.
Browse through the market data tables, figures and detailed ToC on the “North America Coal Bed Methane Market”.
Asia-Pacific Coal Bed Methane Market
The Asia-Pacific is second largest market in the global coal bed methane. The Asia-Pacific is expected to grow at a rate of 10.3% from the projected growth of $7,275.7 million in 2016 to $11,856.3 million by 2021. In Asia-Pacific, Australia is the leader in terms of CBM development, because of a large resource base and access to technology. A large number of CBM-to-LNG projects are either under way or proposed. According to the EPA’s assessment, other countries with large reserves in the region are Indonesia, China, and India.
North America Pressure Pumping Services Market
The North American market is the global hydraulic fracturing leader. The competition in this region is increasing, as smaller market players have also entered this market. In response to the growth trend in this industry, leading market players have plans of overseas expansions. The North America had a largest share in pressure pumping in 2013. This region is expected to grow at a rate of 11.9%, from an estimated $40,884.2 million in 2013 to $71,886.5 million by 2018.
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