India Liquefied Natural Gas Market Size & Outlook
India liquefied natural gas market, 2018-2030 (US$M)
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India liquefied natural gas market highlights
- The India liquefied natural gas market generated a revenue of USD 10,910.9 million in 2023 and is expected to reach USD 23,192.9 million by 2030.
- The India market is expected to grow at a CAGR of 11.4% from 2024 to 2030.
- In terms of segment, power generation was the largest revenue generating application in 2023.
- Power Generation is the most lucrative application segment registering the fastest growth during the forecast period.
Liquefied natural gas market data book summary
| Market revenue in 2023 | USD 10,910.9 million |
| Market revenue in 2030 | USD 23,192.9 million |
| Growth rate | 11.4% (CAGR from 2023 to 2030) |
| Largest segment | Power generation |
| Fastest growing segment | Power Generation |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Transportation Fuel, Power Generation |
| Key market players worldwide | BP PLC, Chevron Corp, China Petroleum & Chemical Corp Class H, Eni SpA, Equinor ASA, Exxon Mobil Corp, Gazprom, PetroChina Co Ltd Class H, Shell PLC, TotalEnergies SE |
Other key industry trends
- In terms of revenue, India accounted for 9.4% of the global liquefied natural gas market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China liquefied natural gas market is projected to lead the regional market in terms of revenue in 2030.
- Australia is the fastest growing regional market in Asia Pacific and is projected to reach USD 19,891.0 million by 2030.
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Liquefied Natural Gas Market Scope
Liquefied Natural Gas Market Companies
| Name | Profile | # Employees | HQ | Website |
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India liquefied natural gas market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to liquefied natural gas market will help companies and investors design strategic landscapes.
Power generation was the largest segment with a revenue share of 52.66% in 2023. Horizon Databook has segmented the India liquefied natural gas market based on transportation fuel, power generation covering the revenue growth of each sub-segment from 2018 to 2030.
India is a currently a coal-based economy and the trend is expected to continue till 2030. Gas turbines face stiff competition from steam turbines, adversely affecting the former’s growth in the country. Moreover, India’s natural gas imports are primarily targeted for industrial operations and domestic purposes.
The country’s share of gas turbines is low in comparison to the share of its counterparts in the Asian region. However, owing to the various initiative by government to reduce greenhouse gas emission caused due to coal-based power generation is expected to drive the demand for natural gas in power generation.
LNG imports in India has increased in recent years as country’s domestic natural gas production declined and domestic consumption increased. India’s LNG import capacity more than doubled during the past 10 years and is expected to grow further as regasification facilities currently under construction come online.
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Target buyers of India liquefied natural gas market databook
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Our clientele includes a mix of liquefied natural gas market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India liquefied natural gas market , including forecasts for subscribers. This country databook contains high-level insights into India liquefied natural gas market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
India liquefied natural gas market size, by application, 2018-2030 (US$M)
India Liquefied Natural Gas Market Outlook Share, 2023 & 2030 (US$M)
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