India Lng Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2028)
Increased investments, utility projects, and the rising demand for distributed power are key drivers of the market during the forecast period.
According to a report by
TechSci Research "India
LNG Market- By Region, Competition, Forecast & Opportunities,
2028", the India LNG Market is primarily propelled by the increasing
demand for electricity generated from renewable energy sources. Over the next
eight years, market growth is expected to be supported by a growing emphasis on
distributed power and utility projects. The demand for Liquefied Natural Gas
(LNG) is projected to rise across various countries due to the anticipated
increase in natural gas utilization in the power generation sector.
In the coming years, it is
anticipated that numerous LNG projects and development initiatives will be
undertaken, driven by the growing LNG demand. This will create ample
opportunities for market participants in the African region, leading to a
flourishing LNG industry.
The India LNG Market is
categorized into LNG infrastructure, application, and region. In terms of LNG
Infrastructure, the market is segmented into LNG Liquefaction Plants, LNG
Regasification Facilities, and LNG Shipping. Regarding Application, the market
is divided into City Gas Distribution, Petrochemicals, and other applications.
Regionally, the market is segmented into north, south, east, and west. The City
Gas Distribution segment is expected to dominate the market during the forecast
period. Additionally, the City Gas Distribution proposal includes PNG
connections and CNG stations. While CNG stations are established to provide
access to natural gas for transportation purposes, PNG connections are offered
for residential, commercial, and industrial uses.
https://www.techsciresearch.com/report/india-lng-market/4436.html
Until 2021, 11 CGD bidding rounds had been
completed, extending natural gas access to 215 districts across 19 states and
one union territory in India. As of December 2020, there were approximately
7.25 million residential PNG connections in the country, with continued growth
expected. Moreover, India boasted over 4,500 CNG stations as of January 2022.
The Petroleum & Natural Gas Regulatory Board aims to increase the share of
natural gas in the energy mix to 20% by 2025, up from 11% in 2010, as outlined
in the "Vision 2030" plan for Natural Gas Infrastructure in India.
This government initiative is expected to drive market growth during the
forecast period. The 11th CGD bidding round, covering 215 districts across 19
states and a union territory, represents nearly 71% of India's total
population.
In the LNG Infrastructure segment, the India
LNG Market includes LNG Liquefaction plants, LNG regasification facilities, and
LNG shipping. The liquefaction sector is poised to dominate the market, with
global capacity expected to nearly double. North America leads in projected
capacity expansions, with significant contributions from the United States,
Canada, and Mexico. While the COVID-19 pandemic initially disrupted LNG
shipments, the second half of 2020 saw a significant rebound, with a 25%
increase in global LNG supply estimated by the IEA between June and December
2020.
Key market players in the India LNG Market include:
- Petronet
LNG Limited
- GAIL(India)
Limited
- Royal
Dutch Shell plc
- Adani
Ports and Special Economic Zone Limited
- Indian
Oil Corporation Limited
- H-Energy
Private Limited
- Total
S.A.
- GSPC
LNG Limited
- Bharat
Petroleum Corporation Limited
- JSW
Group
- Essar
Ports Ltd.
Download
Free Sample Report@
https://www.techsciresearch.com/sample-report.aspx?cid=4436
Customers can also request for 10% free customization
on this report.
The expansion of LNG bunkering infrastructure is attributed to shipbuilders'
expected preference for LNG over other fuels. Many ports nationwide are also
striving to establish LNG fueling infrastructure. The usage of LNG as a marine
fuel in the shipping industry is projected to rise due to the country's
increasing demand for natural gas, driven by its clean emissions. In 2021,
natural gas consumption reached 62.2 billion cubic meters, indicating a growing
market fueled by rising natural gas consumption.
“India ranked fourth globally
with around 22 MMT of LNG imports in 2022. The India LNG market is expected to
be fueled by the increasing number of LNG ships and growing demand for
gas-powered electricity generation. Government policies aimed at reducing reliance
on fossil fuels and promoting natural gas usage, along with the adoption of LNG
as a transportation fuel, economic growth driving demand for goods and
services, and rising crude oil prices are among the contributing factors,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“India LNG Market Segmented by
Component, Technology, Deployment, Industry, Region, Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028”,
evaluates the future growth potential of the India LNG Market, providing
statistics and insights to aid decision-makers. The report aims to deliver
advanced market intelligence and support sound investment decisions,
identifying emerging trends, drivers, challenges, and opportunities within the
India LNG Market.
Review More Oil and Gas Reports:
Pipeline
Integrity Management Market: Pipeline Integrity Management
Market was valued at USD 9.75 Billion in 2023 and is anticipated to project
robust growth in the forecast period with a CAGR 3.41% through 2029.
Oil
Country Tubular Goods Market: Oil
Country Tubular Goods Market was valued at USD 22.08 billion in 2023 and is
anticipated to project robust growth in the forecast period with a CAGR of
8.19% through 2029.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: sales@techsciresearch.com
Website: https://www.techsciresearch.com
Comments
Post a Comment