NEW YORK, July 26, 2016 /PRNewswire/ --
Continuous Expansion of City Gas Distribution (CGD) Network Coupled With Increasing Accessibility & Availability of Natural Gas to Drive City Gas Distribution Market in India Through 2021
According to recently published TechSci Research report "India City Gas Distribution Market Forecast & Opportunity, 2030", the City Gas Distribution (CGD) market in India grew at a CAGR of 6.25% during 2013 - 2015, owing to easy availability as well as accessibility of Natural Gas, an colourless and odourless gas which can be easily transported via pipeline. Moreover, backed by increasing number of vehicles, growing population and increasing urbanization, the country's CGD network is anticipated to grow at a robust pace over the next five years.
Browse 108 market data Tables and 45 Figures spread through 257 Pages and an in-depth TOC on "India City Gas Distribution Market"
In CGD, Natural Gas is converted to Compressed Natural Gas (CNG), which is used in transportation sector, and Piped Natural Gas (PNG), which is used as a fuel by domestic consumers (households), commercial consumers (hotels, offices, canteens, etc.), and industrial consumers (dryers, boilers, furnace, etc.). In 2015, CGD market in India is majorly dominated by the transportation sector on account of growing environmental concerns among consumers coupled with increase in the number of CNG vehicles. Moreover, PNG segment is projected to grow at around 5% through 2030 due to anticipated advancements in CGD sector and increasing government focus to expand PNG network throughout the country.
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Power sector is the leading consumer of natural gas in India. The sector consumes nearly 30% to 35% of the total natural gas supply in India annually. Demand for natural gas in power sector is projected to grow at a CAGR of 10.69% during 2015-2020 due to implementation of a new policy reform known as "e-bid RLNG". In addition to power sector, fertilizer sector is another major consumer of natural gas in the country. Demand for fertilizers is anticipated to grow at a CAGR of 6.25% during 2015-2025 due to announcement of new pooling gas policy, which is expected to address the demand from fertilizer sector. Hence, backed by booming power and fertilizers sectors, the country's CGD network is anticipated to witness robust expansion during 2016-2030.
"Owing to the presence of huge reserves of Natural Gas in the country, the expansion of CGD network in India is among the government's top-most priorities. The country's government aims to make India a natural gas based nation as it is more economical and environment friendly as compared to other liquid fuels. As a result, to promote Natural Gas imports, the government is taking various initiatives such as long term contracts, signing MoUs with various countries and building regasification terminals." Said Mr. Vipul Tiwari, Consultant with TechSci Research.
"India City Gas Distribution Market Forecast & Opportunity, 2030" has evaluated the future growth potential of City Gas Distribution (CGD) market across India and provides statistics and information on market structure, industry behavior and trends. The report includes market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes drivers, challenges and opportunities available in India CGD market.
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