Atmospheric Water Generator Market Worth $8.9 Billion By 2027

The global atmospheric water generator market size is expected to reach USD 8.9 billion by 2027, expanding at a CAGR of 19.5%, according to a new report by Grand View Research, Inc. Increasing consumer demand for atmospheric water generator (AWG) in industrial and commercial applications is expected to drive the market.

Moreover, depleting freshwater reserves, particularly in Asia Pacific and Latin America region is anticipated to further propel market growth. Furthermore, various characteristics offered by AWGs such as high purity water output, and easy transport are expected to drive their demand in military applications over the forecast period.

Growing demand for AWGs to replace traditional supply units such as water pipelines, especially at industrial and commercial workplaces, is likely to open new avenues for the industry over the forecast period. However, high capital cost and energy consumption associated with the product are expected to hinder market growth.

The water output offered by AWGs primarily depends on the humidity and temperature of the surrounding environment, which affects the performance efficiency of the system. Product innovations to reduce the cost and improve its efficiency are expected to propel the AWG market over the forecast period.

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https://www.grandviewresearch.com/industry-analysis/global-atmospheric-water-generator-market

Further key findings from the study suggest:

Cooling condensation accounted for 98.9% revenue share in 2019 on account of its high output coupled with less complex mechanism when compared to wet desiccation technique
The residential application segment, in terms of revenue, is expected to witness a CAGR of 16.7% from 2020 to 2027 owing to rising disposable incomes coupled with product innovations is expected to drive the demand for AWGs in the segment
The product demand in Latin America, in terms of volume, is likely to witness a CAGR of 17.7% owing to depleting freshwater resources coupled with uneven geographical distribution of freshwater resources, and inadequate water supply infrastructure
The product demand in India is anticipated to reach USD 302.9 million by 2027 owing to the rapid industrial growth coupled with increasing construction and manufacturing activities in the country
In January 2020, Energy and Water Development Corp., (EAWD) sold its self-sufficient energy supply AWG system to a Mexican company engaged in manufacturing bottled water.

Toaster Market Size Worth $4.5 Billion by 2025

The global toaster market size is expected to reach USD 4.5 billion by 2025, according to a new report by Grand View Research, Inc., registering a 4.8% CAGR during the forecast period. The market is mainly driven by increasing demand from quick service restaurants. This is one of the best labor-saving appliances used across homes, hotels, cafes, and restaurants. Technological advancements in the appliance over years has significantly benefited market growth. Manufacturers are constantly looking to innovate new and versatile appliances that can fit into different spaces, have various capabilities and sizes, and offer varied heating specifications that can range from simplistic to extreme, depending on how one prefers their bread.

Significant improvement in purchasing power of consumers for advanced kitchen appliances in developing countries such as China and India has also had a positive impact on product demand over the forecast period. In light of this, the market in Asia Pacific accounted for over 40.0% of the revenue in 2018. Increasing consumption of various types of breads for breakfast among many South Asian countries is driving the market. For instance, a study by Japanese consulting and economic research firm Nomura Research Institute, Ltd. finds that close to 51.0% of people in Japan prefer bread as part of their breakfast meal, overtaking the traditionally preferred item – rice.

On the basis of product, the toaster market is segmented into pop-up, oven, and conveyor toasters. Pop-up toasters held the largest market share in 2018 and are the most preferred type among consumers. These appliances consume lesser energy as compared to toasting bread in the oven or stove, which are less efficient. Conveyor toasters form the fastest growing segment owing to rising demand in commercial applications such as restaurants and hotels as they can toast larger quantities compared to household variants such as pop-up toasters.

By way of application, the residential sector accounted for the dominant share in 2018. With bread being a vital breakfast item for consumers across the globe, the convenience provided by toasters for a quick, easy, and delicious breakfast will continue to be a key factor keeping product demand high in the residential segment. Nevertheless, the commercial sector will register the fastest growth over the forecast period.

An increasing number of manufacturers and distributors have been entering the industry, ensuring stiff competition. The market is primarily dominated by regional and local players and more than 60.0% of the market is reportedly unorganized. New product launches, strong marketing campaigns, and strategic partnerships and collaborations are, therefore, crucial to holding a prominent position in the market. For instance, the steam toaster by Balmuda, a Japanese design and manufacturing company, uses steam technology and temperature control to keep the bread from drying out. A small amount of water is poured into the toaster, which ensures retention of moisture and aroma of the bread.

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https://www.grandviewresearch.com/industry-analysis/toaster-market

Further key findings from the report suggest:

By product, conveyor toasters are projected to register the highest CAGR of 5.95% over the forecast period owing to rising demand in commercial applications such as restaurants and hotels
In terms of application, the residential sector dominated the global market with a share of over 70.0% in 2018. The commercial sector will emerge as the fastest growing segment by 2025
Asia Pacific held the dominant share of 40.08% in 2018. The region will continue its leading streak over the next few years, propelled by increasing disposable income in countries like India, South Korea, and China
The toaster industry is highly competitive in nature with manufacturers concentrating on new product launches, marketing campaigns, and technological innovations to stay ahead. Some of the key players are The APW Wyott, Hatco, Star Manufacturing International, Waring Commercial, and Toastmaster.

Kickboxing Equipment Market Size Worth $240.5 Million By 2025

The global kickboxing equipment market size is expected to reach USD 240.5 million by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.6% over the forecast period. Increased awareness regarding health and fitness has been encouraging people to participate in kickboxing, which is expected to promote the utility of various equipment including gloves and punching bags. For instance, health experts have recommended that the continuous activity of this type of boxing helps in improving cardiovascular health and ensuring better blood circulation. In addition, increasing popularity of these sport activities for self-protection among millennials is expected to promote the scope for various kickboxing equipment including gloves and gears.

Over the past few years, the equipment manufacturers have been focusing on the advancement of the protective gears in terms of both build-in quality and design. Protective gear is anticipated to expand at the fastest CAGR of 4.2% from 2019 to 2025. This segment includes mouth guards, head gear, shin guards, hand wraps, and ankle support wraps. These products are expected to gain utility as protective shield to the consumers from any injuries during boxing activities.

The commercial application segment dominated the global kickboxing equipment market in 2018. Increased number of health clubs and training centers has driven the commercial sector across the globe. This segment requires equipment in bulk to serve a large number of consumers. It also provides personal training by professionals.

In terms of distribution channel, the online segment is projected to expand at the fastest CAGR of 4.1% from 2019 to 2025. Increasing number of online payment platforms as a convenient medium for the consumers is expected to remain a key factor for the industry growth. In addition, availability of smartphones at affordable prices in the developing countries including India, China, and Brazil has played a crucial role in promoting the access of e-commerce to the consumers.

Asia Pacific emerged as the largest market in 2018, accounting for over 40.0% share of the global revenue due to rising number of promotional activities and increasing consumers’ concern over fitness. Participation in kickboxing has increased in the countries including Japan, Australia, China, India, Myanmar, New Zealand, South Korea, Singapore, and Thailand. These factors are expected to play a key role in expanding the scope for various products including gloves, protective gear, and boxing pads.

Key competitors of this industry include Adidas AG; Last Round Equipment; Budoland; Century LLC; Everlast Worldwide, Inc.; Hayabusa Fightwear Inc.; Twins Special Co., Ltd.; SMAI; Combat Sports International; Hykso; and WESING SPORTS. The industry participants are expected to increase the spending on the development of new products in order to expand their market size.

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https://www.grandviewresearch.com/industry-analysis/kickboxing-equipment-market

Further key findings from the report suggest:

By product, gloves dominated the global kickboxing equipment market with 40.9% share in 2018. Protective gear is expected to witness the fastest growth in the coming years due to growing need for protection from injury among athletes during boxing
The commercial application segment held the largest share of more than 70.0% in 2018
Online distribution channel is expected to expand at the fastest CAGR of 4.1% from 2019 to 2025
Asia Pacific held the largest share of over 40.0% in 2018 and is expected to witness the fastest growth from 2019 to 2025.

Tankless Water Heater Market Worth $4.6 Billion By 2025

The global tankless water heater market size is anticipated to reach USD 4.6 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.5% over the forecast period. Launch of innovative products with improved design is a main factor driving demand for tankless water heater over the forecast period. For instance, in 2019, companies including Rinnai and Raheem have launched energy efficient water heaters for the residential sector. Their products are equipped with Wi-Fi and voice recognition, which allow the users to remotely monitor temperature and water circulation when required through smartphone.

Electric products held a leading market share in 2018 and is anticipated to witness the fastest growth in the coming years. Rapid increase in adoption of these heaters among the residential and commercial sectors is expected to boost market growth over the forecast period. Many homeowners are increasingly adopting electric tankless water heaters due to their energy efficiency and low maintenance and operating costs associated with them. In addition, these products are generally less expensive and have longer warranties as compared to gas counterparts.

The residential application segment held a leading share of 72.4% in 2018. Shifting consumer inclination towards energy efficient and eco-friendly products is a main factor driving the demand for these products in the residential sector. Moreover, increasing adoption of smart products and growing urbanization are expected to have a positive impact on the market growth in the upcoming years. For instance, Rheem’s Prestige models have EcoNet Smart Technology that provides Wi-Fi connectivity and added features, which offer system protection, control, and monetary savings. Furthermore, improving standard of living, coupled with introduction of innovative products, is expected to have a positive impact on market growth.

The commercial application segment is anticipated to expand at the fastest CAGR of 7.8% from 2019 to 2025. Introduction of innovative products is a main factor driving the demand for tankless water heater. Increasing number of commercial buildings including restaurants, hotels, and hospitals owing to growing tourism industry will fuel demand for hot water, which, in turn, is expected to increase adoption of the product.

Europe held a leading market share in 2018 owing to high production of these products and shifting consumer preference for energy efficient and economical products. North America is anticipated to expand at the fastest CAGR of 10.7% from 2019 to 2025. Growing awareness related to ecological products, coupled with increasing product visibility, is a main factor driving the market demand. Moreover, presence of prominent players in the region such as A. O. Smith and Rheem is expected to propel demand for tankless water heater in the upcoming years.

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https://www.grandviewresearch.com/industry-analysis/tankless-water-heater-market

Further key findings from the report suggest:

North America for tankless water heater market is anticipated to expand at the fastest CAGR of 10.7% from 2019 to 2025 due to shifting consumer preference towards ecological products including tankless water heater
Europe is expected to reach USD 1.5 billion by 2025 due to surging number of residential buildings, especially in Germany, U.K, and France, thus promoting sales of tankless water heater in the region
Asia Pacific is anticipated to expand at a CAGR of 7.9% from 2019 to 2025 owing to high product availability, especially in Japan and China
In 2018, U.S. held a significant share in the North America market on account of rising popularity of electric tankless water heaters among buyers in the residential sector
Some of the key manufacturers are A. O. Smith; Rheem Manufacturing Company; Rinnai Corporation; Bradford White Corporation; Robert Bosch LLC; EcoSmart Green Energy Products, Inc.; Stiebel Eltron Inc.; Takagi; Noritz America; and Navien Inc.

Aerospace & Defense MRO Market Size Worth $161.60 Billion By 2025

The global aerospace and defense MRO market size is projected to reach USD 161.60 billion by 2025, according to a new report published by Grand View Research, Inc. It is expected to expand at a CAGR of 5.4% over the forecast period. Expanding aircraft fleet coupled with increasing fleet replacement age is anticipated to propel the growth.

Intensified demand for air travel, driven by a rising disposable income of consumers from the emerging markets is likely to have a positive impact on the growth of the market for aerospace and defense Maintenance, Repair, and Overhaul (MRO). Burgeoning adoption of advanced aircraft by various government agencies to increase their defense capabilities is projected to propel the market growth. Also, a longer in-service period of aircraft is expected to benefit the market growth.

The aerospace and defense MRO market has been witnessing an increasing integration by the OEMs, which is expected to intensify the market rivalry. The market participants are trying to focus on creating additional value by adopting business models that span across the product life cycle. This has led to exponential growth in several strategic alliances, including mergers and acquisitions, leading to intense competition.

Despite a large number of potential opportunities, the new entrants are expected to face operational hurdles due to infrastructure, regulatory, and geopolitical challenges. Furthermore, the presence of established players, controlling a large market share and a strong foothold of the market players coupled with the capital intensive nature of the business is expected to restrict entry to the new players.

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https://www.grandviewresearch.com/industry-analysis/aerospace-defense-maintenance-repair-overhaul-mro-market

Further key findings from the report suggest:

Line maintenance is expected to be the fastest-growing product segment with a CAGR of 6.3% over the forecast period owing to mandatory schedule periodic line maintenance of aircraft, coupled with growth in passenger and freight traffic
Narrow-body aircraft accounted for the largest market share of 53% in 2018, owing to rise in replacement of regional jets and turboprops with single-aisle aircraft
Military MRO is projected to witness significant growth over the forecast period, on account of rising initiatives by the governments to strengthen its defense with the procurement of advanced aircraft
Asia Pacific is projected to witness the fastest CAGR and surpass North America over the forecast period, due to a rise in passenger traffic in developing economies in Asia, especially in China and India
The aerospace and defense MRO market participants compete based on proximity to the customers, geographical presence, skilled labor force, and service cost to gain greater market share

Bamboo Furniture Market Worth $14.38 Billion By 2025

The global bamboo furniture market size is expected to reach USD 14.38 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 5.2% during the forecast period. The growth is primarily attributed to rising investments in infrastructure developments and use of sustainable raw materials for furniture.

Bamboo is also gaining an increasing traction in terms of application in the commercial sector such as hotels, offices and recreational areas. Companies focus on crafting environmentally friendly products using bamboo as the major raw material. This factor is anticipated to drive the market in near future.

Asia Pacific is a one of the major markets, with China and other Far East countries as the major hubs. India is also expected to be a lucrative market for the manufacturers supported by the rising preference for sustainable and elegant furniture. Ikea has made India its global sourcing hub for bamboo products with an aim to expand its product portfolio.

Bamboo stools accounted for the highest market share of about 44% in 2018. Rising usage of bamboo furniture for both indoor and outdoor purposes is anticipated to drive the segment growth. Increasing demand from outdoor restaurants, cafes, and bars is projected to further fuel the product demand in near future. Foter offers a wide range of bamboo bar stools for both residential and commercial purposes in various designs.

The global bamboo furniture market is majorly driven by the residential application. Rising demand for elegant furniture to complement the living room and bedroom décor along with the rise in real estate constructions initiated by governments, especially in the urban areas is projected to drive the segment growth.

Asia Pacific accounted for the largest market share of about 59% in 2018. It is also expected to expand at the fastest CAGR of 5.8% from 2019 to 2025. Majority of the growth is driven by China and other Far East countries. Improving living standards in China are resulting in higher investments in home décor and furnishings, which in turn is anticipated to fuel the market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/bamboo-furniture-market

Further key findings from the study suggest:

APAC is estimated to be the fastest market accounting for a share of more than 55% by 2025, driven majorly by the high demand from China and India
In terms of revenue, residential application accounts for a market share of more than 70% in 2018. The segment is expected to continue leading over the forecast period
Some of the major players operating in the global bamboo furniture market include Jiangxi Feiyu Industry Co. Ltd., Moso International B.V, Hadicomex VietHa Jsc, Ole Bamboo, Tanyee company Ltd., Shenzhen Vincent Handicraft Co., Limited, CBG Bamboo, and Greenington LLC

Camping Tent Market Size Worth $3.28 Billion By 2025

The global camping tent market size is expected to reach USD 3.28 billion by 2025 registering a CAGR of 6.3%, according to a new report by Grand View Research, Inc. Increasing popularity of recreational activities including camping, hunting, sports, trekking, and hiking is the key factor driving the market. Moreover, growing popularity of adventure travel in developed countries, such as U.S., Canada, Germany, France, Sweden, Austria, Russia, Norway, and U.K., has boosted the demand for camping tents.

Major manufacturers including Hilleberg, AMG GROUP, Newell Brand s, and The North Face are focusing on product development, which, in turn, will boost the market growth. For instance, in February 2018, Mountain Hardwear, a U.S.-based company, launched tunnel tent under the brand name ‘Pathfinder’. The product is suitable for two to three person occupancy and is made of high-quality fabric, which can withstand extreme weather conditions.

Europe was the largest regional segment in 2018. It is projected to expand further retaining its leading position throughout the forecast years. North America is also likely to witness a significant growth in future. Major companies in these two regions are focusing on product launch, R&D, and M&A activities to cater to the increasing demand for advanced products, thereby fueling the growth of the regional markets. For instance, in March 2019, The North Face launched ‘Geodome’. The product can withstand 60 mph winds.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/camping-tent-market

Further key findings from the report suggest:

Europe was the largest regional market in 2018 and is projected to maintain its dominance over the forecast period
However, Asia Pacific is expected to be the fastest-growing market at a CAGR of 6.9% from 2019 to 2025
Tunnel tents was the largest product segment of the global camping tent market in 2018 and accounted for more than 50% of the overall share
Commercial application is expected to witness the fastest CAGR from 2019 to 2025; while, the individual application segment is expected to account for the largest market share by 2025
Key companies in the market are AMG GROUP, Hilleberg, Johnson Outdoors, The North Face, Newell Brands, Oase Outdoors, Simex Outdoor International, The Coleman Company, Big Agnes, Exxel Outdoors, and Kampa

Pet Shampoo Market Size Worth $757.7 Million By 2025

The global pet shampoo market size is expected to reach USD 757.7 million by 2025, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 6.4% during the forecast period. Increasing rate of pet adoption among millennials is expected to remain a key growth driver. In addition, rising awareness about animal health and hygiene among the pet owners is expected to fuel the product demand.

Dog products segment held the leading market share exceeding 30% in 2018. The dog adoption rate has been increasing in countries, including U.S., Argentina, Mexico, Brazil, U.K, Russia, China, Japan, Philippines, and India. This trend is anticipated to boost the demand for dog shampoos in the upcoming years.

The commercial application segment held the largest market share of over 60% in 2018. Growing number of pet stores on a global level has been driving the application in the commercial sector. Furthermore, the bulk requirements from the growing animal boarding and grooming services has been impacting the market positively.

The online distribution channel is expected to witness the fastest growth in near future. The prominent e-commerce players in the pet shampoo market include Amazon; PetSmart Inc.; BarkBox; Petco Animal Supplies, Inc.; PetFlow; Bulk Reef Supply; TABcom LLC; and PetMed Express, Inc.

Asia Pacific is anticipated to register the fastest CAGR of 13.8% from 2019 to 2025. China, Australia, India, South Korea, and Philippines are the major economies in the region. Rapid pace of urbanization along with the increasing purchasing power of consumers is expected to boost the regional market growth in near future.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/pet-shampoo-market

Further key findings from the report suggest:

Household application is expected register the fastest CAGR of 6.7% from 2019 to 2025
Commercial segment held the largest market share of more than 50% in terms of revenue in 2018
Offline distribution channel held the leading market share of around 90% in 2018
Online distribution channel is expected expand at the fastest CAGR of more than 10% during the forecast period
The key competitors in the market include Groomer’s Choice; SynergyLabs; Vet’s Best; Himalaya Herbal Healthcare; Petco Animal Supplies, Inc.; Logic Product Group LLC; Wahl Clipper Corporation; 4-Legger; Earthwhile Endeavors, Inc.; and World For Pets

Fiberglass Flooring Market Size Worth $987 Million By 2025

Fiberglass Flooring Market is expected to reach USD 987 million by 2025, according to a new report conducted by Grand View Research, Inc. Fiberglass exhibits superior properties compared to felt backing including longer lifespan and non-allergen and this is anticipated to increase its usage tremendously over the upcoming years. Moreover, its weight and bulk strength are better than many metals, and it can be easily molded into complex shapes which are projected to aid in market augmentation.

In these modern times, one’s residence is not just a place to live in comfortably but also a sign of the owner’s social status. With increasing disposable income in the world all around, standard of living is also rising exponentially. A good interior design of the house is a sign of comfortable living along with being a mark of high standard of living; and fiberglass floorings are becoming an essential part of home interior design, not just because of the aesthetic value but also due to several other properties which makes it indispensable for a comfortable home.

Market Dynamics

The growing population and increasing per capita income coupled with rapid urbanization are expected to drive the market demand. Moreover, the rapid growth of the industrial sector is projected to spur the product’s usage for the construction of offices and facilities, which in turn, will aid market development over the upcoming years.

The growing commercial construction sector in India is expected to spur the growth of the fiberglass flooring market. Moreover, the continuing trend of economic development and population growth in the country is expected to drive the requirement for residential buildings, which in turn, will stimulate market expansion.

Recent worldwide pandemic of COVID-19 has hurt the global economy position and pushed it into a recession. This is going to cast an inhibiting shadow on the growth of fiberglass flooring market.

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https://www.grandviewresearch.com/industry-analysis/fiberglass-flooring-market

Further key findings from the report suggest:

Eliane Coatings unites its nearly expertise 60 years in the Brazilian ceramic tile industry to the global reach of the Mohawk Industries, Inc. in a transaction involving the sale of 100% of the shares of Santa Catarina industry for the US group. With the deal, the Brazilian company accelerates its strategic plan for growth and investment, what the medium and long term an increase in the number of jobs and productive capacity of the six plants located in Santa Catarina (Cocal do Sul and Criciúma) and Bahia (Camaçari), and the strengthening of the distribution center in Dallas, USA.
Mannington Mills announced that it has signed an agreement to acquire Phenix Flooring and Pharr Fibers and Yarns from Pharr USA. This acquisition is Mannington’s first foray into the residential carpet business.
The Dalton, Ga.-based Shaw Industries, already the largest North American carpet tile manufacturer, announced that it has bought Scotland-based Sanquhar Tile Services (STS) to expand its presence in the growing carpet tile market in the United Kingdom.
Tarkett, a global leader in flooring and sports surface solutions, announced it has completed the acquisition of Lexmark Carpet Mills. The addition of Lexmark to the North America division enables Tarkett to establish a robust hospitality business that leverages both companies’ broad product portfolios, strategically positioning the company to better serve the complete needs of its hospitality customers.
Industry participants are investing in strategies such as alliances and partnerships for sustaining and strengthening their positions in the global market. The key industry players include IVC Group (Mohawk Industries), Mannington Mills, Inc., Shaw Floors, NOX Corporation, Milliken, Armstrong World Industries, Gerflor, and Tarkett.

Coal Bed Methane Market Worth $25.2 Billion By 2027

Coal Bed Methane is an unconventional form of natural gas which is found in coal seams or coal deposits. It is also known as coal seam gas, virgin coal seam methane, or ‘sweet gas’, owing to a lack of hydrogen sulfide. There are different methods of recovering CBM, making it a very stable source of energy. Drilling cost is the major contributor to the overall production cost. Electricity cost, machine maintenance cost and operational costs also contribute to the total cost of production. The leading application area is power generation.

Natural gas is one of the most rapidly growing forms of energy and has made its presence felt significantly in the global energy market. It has been rapidly catching up with crude oil as a fuel alternative because of its cleaner existence. Natural gas has been able to successfully penetrate the transportation and domestic application markets, thus helping it evolve as the primary global fuel. However, there has been an increased emphasis on the usage of unconventional natural gas sources such as shale gas, tight gas, methane hydrates and CBM owing to the depletion of conventional natural gas reserves.

However, the market is also not without its challenges. The dewatering of a CBM well consumes a lot of time, increasing the overall cost of its development which is a major challenge to this market. The Chinese market has not reached its full potential owing to myriad issues ranging from geological conditions, to conflicting mining rights, to insufficient subsidies and difficulties faced in attracting private capital. Also, doubts still persist regarding the quality, quantity and dispersal of the water from the coal seams.

The U.S. dominates global production, followed by Canada. The Asia Pacific region is expected to be one of the fastest growing markets in the near future owing to an increase in drilling activities, primarily in coal rich countries such as India, Australia, China and Indonesia. In Europe, the United Kingdom also has gathered pace in extraction activities of coal bed methane. Australia has been a major contributor to the market, with coal seam gas exploration a thriving activity, and the industry is aggressively expanding in the New South Wales (NSW) region. Bowen basin, Surat basin and Sydney basin are some of the well-known sites for coal seam gas exploration. India and China are especially showing good promise in terms of coal bed methane reserves and their exploration.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/coal-bed-methane-industry

Further key findings from the report suggest:

Coal Bed Methane production is expected to be driven by increasing exploration and extraction on a global scale over the next few years.
Methane emissions that result from conventional fuel and coal mining are reduced in this case, thus driving the market.
Governments provide tax incentives to companies undertaking this operation, which again is a big driving factor. CBM is also priced lower than other unconventional natural gases, increasing its market attractiveness.
Growing demand for sustainable fuel in the country in order to reduce reliance on conventional sources of natural gas is expected to be the key driving force for the North American market.
Growing GDP in Asia-Pacific is responsible for the increasing energy demand in the region, with China, India and Indonesia being the prime contributors. Companies have been attracted to invest in this region due to the huge amount of unproven reserves of Coal Bed Methane in these countries.