Coal Bed Methane (CBM) Market Share 2022-2027

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Global Coal Bed Methane (CBM) Market Research Report:

According to the latest report by IMARC Group, titled “ Coal Bed Methane (CBM) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forec ast 2022-2027

” the global coal bed methane (CBM) market reached a strong growth in 2021.

Coal bed methane (CBM) is a natural gas produced by transforming plant materials into coal. It is colorless, odorless, and contains pure methane, which requires minimal processing. It is also considered a clean-burning fuel and more eco-friendly than conventional natural gas. Moreover, CBM is widely used as an energy source in gas turbines for energy generation due to its easy extraction process and minimal risk of combustion hazards in underground coal mines.

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Global Coal Bed Methane (CBM) Market Trends :

The market is primarily driven by the increasing electricity consumption across the globe. This can be attributed to the inflating income levels of consumers and the construction of buildings in residential and industrial sectors. In line with this, the growing awareness regarding cost-effective and environment-friendly clean-burning fuels and the adoption of CBM in various industrial applications, such as rolling mills, steel plants, and cement production, is strengthening the market growth.

Moreover, nowadays, CBM is converted into gasoline, diesel, or compressed natural gas (CNG) and used as biofuels in automobiles. It is also utilized for producing methanol that finds extensive applications in wastewater treatment plants and the chemical industry, representing another major factor propelling the market growth.

Looking forward, the market value is projected to reach a strong growth during the forecast period (2022-2027).

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Summary:

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Competitive Landscape with Key Players:

Baker Hughes Company

BP

G3

Group

Company

Petroliam Nasional Berhad (PETRONAS)

Reliance Industries Limited

Royal Dutch Shell plc

Santos Limited

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