“The Global Natural Gas and LNG Market has seen various technological advancements in the past couple of years and is foreseen to turn out to be a lot further in the midst of the figure time allotment 2019-2025. The study presents a detailed assessment of the Natural Gas and LNG showcase and contains historical and present growth factors. Additionally, the report comprises current growth factors, industry specialists opinions, convictions, chronicled data, and reinforced and industry affirmed advertise data.
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India natural gas market is expected to grow to US$ 30.7 billion by 2025 from US$ 19.7 billion in 2015. Fertilizer and power segment together comprise more than 50% of overall market. However, city gas project shows highest growth rate during the forecast period. In the attempt to promote clean fuel usage in India, the government has accorded city gas distribution (CGD) projects. Natural gas is generally used in households for cooking and heating purpose and they are also used in compressed natural gas (CNG) automobiles for powering them. Various state governments have implemented CNG public transport vehicles ranging from busses to auto rickshaws to bring down greenhouse gas emission in their respected states. The city gas distribution includes domestic Piped Natural Gas (PNG), CNG, and commercial PNG.
Key opportunity which will predominantly effect the market in coming year is exploration of new fields in India. To cope up with the fluctuating natural gas prices while importing, India must explore new fields for extraction of natural gas within the country. More than 75% of the country’s sedimentary area is yet to be explored. India is the fifth largest coal based reserve in the world, which gives an opportunity for Coal Bed Methane (CBM) exploration to produce natural gas in house. Additionally the country has around 96 tcf of recoverable resources of natural gas that is trapped in shale rock formation. This will help to bring down the cost of natural gas in India by bringing down import of LNG.
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India natural gas market by end-user is segmented as into power, fertilizer, industrial, city gas distribution (CGD) and others. The increasing awareness towards reduction in carbon footprints are some of the trends contributing to the growing natural gas market.
The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using government and private sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, chief manager, market intelligence managers and sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the India oil and gas industry.
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Alexa Reports is a globally celebrated premium market research service provider, with a strong legacy of empowering business with years of experience. We help our clients by implementing decision support system through progressive statistical surveying, in-depth market analysis, and reliable forecast data. Alexa Reports is a globally celebrated premium market research service provider, with a strong legacy of empowering business with years of experience. We help our clients by implementing decision support system through progressive statistical surveying, in-depth market analysis, and reliable forecast data.