LONDON--(BUSINESS WIRE)--The global coalbed methane market is expected to reach 3,320.75 BCF by 2022, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing need for sustainable energy. Emissions from the burning and combustion of coal are responsible for a major share of CO2 emission that results from human activities. Government bodies worldwide are focusing on reducing GHG emission. Amid international agreements, coal-powered electricity generation, which once accounted for a major share of the global energy mix is declining due to its replacement with alternate sources. One such alternate source is coalbed methane, which is found in cracks and coalbed fissures and is extracted for use in electricity generation.
This market research report on the global coalbed methane market 2018-2022 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the decline in coal-based power generation as one of the key emerging trends in the global coalbed methane market:
Global coalbed methane market: Decline in coal-based power generation
Coal is still a dominant energy source used in power generation. However, a gradual transition is happening on a global scale with coal being replaced with relatively cleaner fuels and resources. Renewable resources pose a significant threat to coal-based power generation, as they are low or emission-free, and their growing popularity has a profound impact on upcoming fossil fuel-based power projects.
“Demand for power is unlikely to decline, and the reduction in the use of coal in power generation will give way for other alternative fuels such as coalbed methane, which is used as a substitute for coal in power generation and heating. Similar shifts are expected to take place in various countries during the forecast period which will lead to a significant reduction in GHG emissions,” says a senior analyst at Technavio for research on oil and gas.
Global coalbed methane market: Segmentation analysis
This market research report segments the global coalbed methane market by geographical regions (APAC, EMEA, and the Americas).
APAC led the market in 2017 with a market share of nearly 59%. The region is expected to dominate the market through 2022, with an increase in its market share of nearly 12%.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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