India LNG Market driven by the rising demand for electric power produced is expected to register a high CAGR in the forecast period
Rising investments, utility
projects, and growing demand of distributed power are the major factors driving
the market for the forecast period.
According to
TechSci Research report, “India LNG Market- By
Region, Competition, Forecast & Opportunities, 2028”, India LNG Market driven by the rising
demand for electric power produced from sustainable energy sources. Over the
next eight years, market growth is predicted to be aided by an increased focus
on distributed power & utility projects. Demand for Liquefied Natural Gas (LNG)
is set to increase across several nations as a result of the anticipated
increase in natural gas usage in the power generation industry.
In the following years, it is
anticipated that several LNG projects and development plans will be put
forward, supported by the rising LNG demand. This will create numerous
opportunities for market participants in the African region, creating a
burgeoning LNG industry.
The India LNG Market is divided
into LNG infrastructure, application, and region. Based on LNG Infrastructure,
the market is segmented into LNG Liquefaction Plants, LNG Regasification
Facilities, and LNG Shipping. Based on Application, the market is segmented
City Gas Distribution, Petrochemicals, and other applications. Based on region,
the market is segmented into north, south, east & west. City Gas
Distribution segment is expected to dominate the Market in the forecast period.
Additionally, PNG connections and CNG stations are included in the City Gas
Distribution proposal. While CNG stations are established to access natural gas
for transportation, PNG connections are offered for residential, commercial,
and industrial uses.
Browse over xx market data Figures spread through xx Pages and an in-depth TOC on "India LNG Market”
Up until 2021, 11 CGD bidding
rounds have been completed, and 215 districts in 19 states and one union
territory now have access to natural gas. According to information released by
PNGRB, there were roughly 72.47 lakh residential PNG connections in India as of
December 2020. Throughout the projection period, growth is anticipated.
Additionally, India had more than 4,500 CNG stations as of January 2022. The
Petroleum & Natural Gas Regulatory Board in India has announced plans to
increase the share of natural gas in the energy mix by 20% in 2025 as opposed
to 11% in 2010, which may increase the number of PNG connections and CNG
stations in the nation. These plans are part of the Natural Gas Infrastructure
in India "Vision 2030" plan. Thus, it is anticipated that the market
under study over the forecast period will be driven by such government efforts.
Nearly 71% of India's total population is represented by the 215 districts that
make up the 11th CGD bidding round (212 complete and 3 partial), which are
spread across 19 states and a union territory.
In terms of LNG Infrastructure segment, the India LNG
Market is segmented into LNG Liquefaction plants, LNG regasification facilities,
and LNG shipping. Liquefaction sector to dominate the market. The capacity of
the world's liquefaction is predicted to nearly increase in the future. North
America (599.6 MTPA) accounts for most of the projected capacity expansions,
with 350.5 MTPA in the United States, 221.8 MTPA in Canada, and 27.4 MTPA in
Mexico. Africa (93.3 MTPA), Asia Pacific (72.4 MTPA), and the Middle East
follow (93.3 MTPA), however, due to the COVID-19 pandemic's shown detrimental
effects, wherein the world's LNG shipments decreased by almost 22% between
January and June 2020, with supply reductions brought on by nations like the
United States, Malaysia, Oman, Trinidad, Egypt, and Indonesia. The second half
of 2020 saw a notable improvement as LNG export quantities increased, lockdowns
in importing nations eased, and industrial activity returned to pre-COVID
levels. The IEA estimated a 25% rise in the global LNG supply between June 2020
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
Customers
can also request for 10% free customization on this report.
The increase in
LNG bunkering infrastructure can be ascribed to ship builders anticipated growing
preference for LNG over other fuels. Additionally, many ports nationwide are
attempting to build an infrastructure for LNG fueling. The usage of LNG as a
marine fuel in the shipping industry is projected to increase due to the
country's increased demand for natural gas because of the clean emissions. In
2021, there was a 62.2 billion cubic meters usage of natural gas. It is
anticipated that rising natural gas consumption would fuel the market better.
“With around 22 MMT of LNG imports in 2022, India ranked fourth in the globe.
The India LNG market is anticipated to be driven by expanding LNG ship number
and rising demands for gas-powered electricity generation. Government policies
aimed at reducing reliance on fossil fuels and promoting the use of natural
gas, growing adoption of LNG as a transportation fuel, growing demand for goods
and services due to economic growth, and rising crude oil prices are all
contributing factors. and many more factors will drive the market,” said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“India LNG Market Segmented by Component (Hardware,
Software, Services), By Technology (Machine Learning, Natural Language
Processing, Others), By Deployment (Cloud, On-premises), By Industry (IT &
Telecom, Healthcare, Retail & E-Commerce, Logistics and Transportation,
Manufacturing, Consumer Electronics, BFSI, Others), By Region, Industry Size,
Share, Trends, Opportunity, and Forecast, 2018-2028”, has evaluated the future growth potential of India LNG 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 LNG
Market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com