Market Size of India Natural Gas Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Natural Gas Market Analysis
The India oil and gas market is expected to register a CAGR of more than 3% during the forecast period (2022-2027). The COVID-19 pandemic has negatively affected the market. The revenue of gas companies declined due to the unexpected lockdown. The demand for diesel, the most used fuel in the country, has fallen due to a significant reduction in traffic volumes on the roads. Factors such as the increasing natural gas pipeline capacity and the increasing demand for petroleum products are expected to drive the Indian natural gas market during the forecast period. However, significant dependence on imports of natural gas for satisfying domestic demand and high volatility is expected to hinder the growth of the market.
- The piped natural gas (PNG) sector has been growing considerably over the recent past, owing to the expansion of several city gas distribution (CGD) networks. Therefore, the industry is expected to witness growth during the forecast period.
- The initiative of Indian government to meet its target of reaching 15% natural gas in its energy basket mix by 2030, which is in 2021 at 6.2-6.5%, whereas the global average is 23-24%. This increase is expected to provide an opportunity for growth after the forecast period
- Due to the increase in gas imports, the Indian government is increasing its investments in oil and gas pipelines and LNG terminals. Therefore, the increasing investments are expected to drive the market.
