As per the latest research report available with Market Study Report LLC under the title ‘Global Coal Bed Methane (CBM) Market Growth 2019-2024’, the worldwide coal bed methane market is expected to amass US $20400 million by the year 2024.
 

Coal bed methane or CBM is a novel form of natural gas which is formed when plant material transformed into coal. This methane is found in coal seams and is considered valuable unconventional energy resource. CBM is newly found resource which has high calorific value and produces less pollution, which is presumed to bring lucrative growth opportunities. Growing concerns regarding greenhouse gas emissions, coupled with favoring government policies for increasing the production of product are the major factors fostering the growth of coal bed methane market.
 

According to the research, coal bed methane market was worth US $14300 million in 2019 and is presumed to expand with a CAGR of 6.2 over the forecast period. Details about the drivers, trends, and challenges influencing the market growth are presented in the report. It also encompasses information related to competitive landscape, concentration ratio, and expansion plans for each manufacture. The report offers synopsis of consumption & production patterns, growth rates, and revenue for each segment.
 

In terms of type, CBM market is categorized as coal mines and CBM wells. While based on application spectrum, the industry is segmented as power generation, vehicle fuel, cooking fuel, industrial fuel, and others.
 

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Considering the geographical outlook, the global coal bed methane is segregated in four main regions; Europe is split into France, Spain, Germany, UK, Russia, and Italy; Southeast Asia, Japan, China, India, Korea, and Australia form Asia Pacific; Middle East & Africa comprises of South Africa, Turkey, Israel, Egypt, and GCC countries; and Canada, Brazil, United States, and Mexico fall under Americas.
 

The key contenders of CBM market profiled in the report are Exxon Mobil (XTO Energy), Constellation Energy Partners, BP, Shell (QGC), ConocoPhillips, Gazprom, Australia Pacific LNG, GEECL, Santos, Pioneer Natural Resources, Anglo Coal, CONSOL Energy, Arrow Energy, Carbon Creek Energy, Ember Resources, G3 Exploration, AAG Energy, and Encana.