India City Gas Distribution Market Grew at a CAGR of Around 21% Till 2014 Says TechSci Research
Jun 19, 2015, 10:30 ET
BURNABY, Canada, June 19, 2015 /PRNewswire/ --
Increasing government focus and favorable policy environment to boost city gas distribution market in India through 2030
According to recently published TechSci Research report, "India City Gas Distribution Market Forecast & Opportunities, 2030", the City Gas Distribution (CGD) network in India increased exponentially at a CAGR of around 21% during 2010-14. Growth in CGD market in India can be attributed to easy availability and accessibility of cost competitive natural gas in respect to any other liquid fuel. During 2015-30, the country's CGD network is anticipated to witness robust growth on account of increasing number of vehicles coupled with rising population and growing urbanization in the country. Moreover, the country's CGD market offers huge growth opportunities as expansion of CGD network in India is among the top-most priorities of Indian Government.
In CGD, colorless, odorless gas is converted to Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) to provide the required boost to various sectors in India. CNG is used in transportation sector, where it acts as a fuel for vehicles, while PNG is used as a fuel by domestic consumers (households), commercial consumers (hotels, offices, canteens, etc.), and industrial consumers (dryers, boilers, furnace, etc.) in the country. Currently, CGD market in India is majorly dominated by the transportation sector on account of growing environmental concern among consumers coupled with increase in the number of CNG vehicles. Moreover, PNG segment is projected to grow at around 7% through 2030 due to anticipated advancements in CGD sector and increasing government focus to expand PNG network throughout the country.
"With growth ininitiatives taken by the Government of India in CGD sector, various CGD entities are entering the market, and coming forward to establish CGD network in different geographical locations of the country. Moreover, Petroleum and Natural Gas Regulatory Board (PNGRB), a regulatory body which acts as a controller and regulator of CGD business in India, is also planning to expand CGD network in 300 geographical locations around the country over the next few years.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India City Gas Distribution Market Forecast & Opportunities, 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.
About TechSci Research
TechSci Research is a global market research and consulting company with offices in Canada, UK and India. TechSci Research provides market research consulting services in six verticals - Information Technology, Chemicals, Water & Water Recycling, Consumer Goods & Retail, Automotive and Energy & Power. The company uses proprietary innovative business model that focuses on improved productivity that also ensure the creation of high-quality reports. With more than 100 client engagements with fortune 500 clients, TechSci Research enjoys the status of a premium market research services provider in the industry.
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