According to TechSci Research report, "India LPG Market By End Use Segment, By Source, Competition Forecast and Opportunities, FY2012 - FY2026'’, LPG consumption in India is forecast to surpass 35 million t by FY26. Growth in the country's LPG market over the past few years can be attributed to rising demand from residential and commercial segments in the country.
Number of LPG consumers in India increased from 1387.3 million in FY13 to 2041 million in FY16. Moreover, introduction of Ujjwala Yojana is further expected to increase consumption of LPG in the residential segment across of the country. Under this scheme, around 5 billion free LPG connections would be offered to families that are below the poverty line in India. Thus, on account of aforementioned factors consumption of LPG in India is forecast to increase continuously through FY26.
The LPG market in India was dominated by the residential sector in FY16, followed by commercial segment. Residential segment is expected garner highest market share in India LPG market through FY26 as well. Moreover, IOCL dominated LPG market in India in FY16, owing to the company's expansion plans and construction of new pipelines across various states in India. IOCL is planning to construct a pipeline of more than 2000 km from Kandla in Gujarat to Gorakhpur in Uttar Pradesh for transportation of LPG.
"Imports of LPG in India is forecast to almost double from 7.98 million t in 2015 to 15.50 million t by 2025, as the domestic requirement for LPG is not being meet through domestic production. Oil marketing companies such as IOCL, HPCL and BPCL are anticipated to remain major suppliers and importers of LPG in the country through FY26. Moreover, introduction of favourable government policies, rising per capita income and expanding distribution network are further projected to boost consumption of LPG in India during FY17 - FY26.", said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
"India LPG Market By End Use Segment, By Source, Competition Forecast and Opportunities, FY2012 - FY2026" has evaluated the future growth potential of India LPG market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with essential drivers, challenges and opportunities in India LPG market.
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/06022017/india-lpg-market/