India LPG Market is Expected to be dominated by West region through 2028
Increasing Government Initiatives and Support for
LPG Adoption to Aid Market Dynamics are expected
to drive the demand in India LPG Market.
According to
TechSci Research report, “India LPG Market- By
Region, Competition, Forecast & Opportunities, 2028”, India LPG
Market is predicted to increase during the projection period as Growing
awareness of the benefits of using liquefied petroleum gas (LPG) as an
alternative to fossil fuels and growing acceptance of clean and green energy
sources in both developed and developing countries are some of the factors that
are projected to promote market expansion.
Based on the Source, the
market is segmented into Crude Oil Distillation, NGL & LNG Fractionation
and Imports. The market is expected to grow because of increased LPG demand
from different industrial applications. Different regions have different fuel
sources. For instance, the region of India relies on refineries for its gas
generation, most of the gas generation in North America is from supply for
natural gas processing. Refineries are one of the most significant sources of
different gases in the world. In 2019, India's demand for liquefied petroleum
gas from associated gas reached 18.92 million tonnes. A substantial portion of
revenue came from non-associated sources, which are expected to expand
significantly over the forecasted period.
Based on the Application
segment, the chemical application segment is expected to witness the fastest
growth in terms of revenue over the forecast period, Residents of both urban
and rural areas can be shown to be heavily dependent on liquefied petroleum gas
as a source of cooking fuel. In 2019, a sizeable portion of the LPG market was
accounted for by the commercial and residential application segment. The
government's enticing subsidies and initiatives to push the product as the principal
replacement for conventional fuels like coal and wood have been the key drivers
of the category's growth. Liquefied petroleum gas is replacing
chlorofluorocarbon and hydrofluorocarbon as a refrigerant because of its
negligible effect on ozone layer depletion. As a result, there is additional
scope for uses in the commercial and residential sectors, including heating and
ventilation in addition to cooking.
In terms of regional
analysis, the India LPG Market is segmented into west,
north, south, and east. The West region will dominate the market as the
consumption is more and Gujrat has a huge industrial area. For
instance, Total Oil India Private Ltd. announced a new LPG cutting gas product
in March 2021 that was developed exclusively for the metal cutting industry (a
subsidiary of Total SE). The product will be produced at Total's LPG
manufacturing facilities in Bangalore, Namakkal, and Maduranthakam. In addition
to it, the new product has strengthened the company's line of products.
Browse over xx market data Figures
spread through xx Pages and an in-depth TOC on "India LPG Market”
Key market players
in the India LPG Market include:
- Indian Oil Corporation Ltd
- Hindustan Petroleum
Corporation Ltd
- Bharat Petroleum Corporation
Ltd
- Reliance Industries Ltd
- Mangalore Refineries and
Petrochemicals Ltd
- GAIL India
- Total India Pvt. Ltd.
- Essar oil Ltd
- Aegis Logistics Ltd
- SHV Energy Pvt. Ltd.
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“The India LPG
Market is expected to expand during the projected period. Increasing awareness
of the benefits of using liquefied petroleum gas (LPG) as an alternative to
fossil fuels and growing acceptance of clean and green energy sources in both
developed and developing countries are few factors that are expected to promote
market expansion. Additionally, technological factors are anticipated to play a
significant role in the market's growth along with the rising number of
government initiatives aimed at educating rural residents to switch from
conventional cooking fuels like kerosene, wood, and coal to LPG. ,” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“India
LPG Market –Segmented by Source (Refinery, Associated Gas, and Non-associated
Gas), By Application (Residential, Commercial, Industrial, Transportation, and
Others), By Supply Mode (Packaged, Bulk, On-site), By Country, Size, Share,
Trends, Opportunity, and Forecast. 2018-2028.”, has evaluated the future growth potential of India LPG Market and
provides statistics and information on market structure, size, share, and
future growth. The report is intended to provide cutting-edge market
intelligence and help decision-makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities present in the India LPG
Market.
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