India LNG Market Size (2024 - 2029)

The India LNG market is anticipated to experience significant growth, driven by increasing demand for gas power generation and a rising number of LNG-fueled fleets. Despite the challenges posed by LNG oversupply and trade tensions, the market has rebounded to pre-pandemic levels. The development of numerous LNG regasification projects is expected to create opportunities for market participants, contributing to the expansion of this emerging market.

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Market Size of India LNG Industry

India LNG Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 8.00 %
Market Concentration Medium

Major Players

India LNG Market Major Players

*Disclaimer: Major Players sorted in no particular order

India LNG Market Analysis

The India LNG market is projected to register a CAGR of over 8% during the forecast period.

COVID-19 negatively impacted the market in 2020. Presently the market has now reached pre-pandemic levels.

  • Increasing demand for gas power generation and a rising number of LNG-fueled fleets are expected to drive the India LNG market during the forecast period.
  • However, LNG oversupply and trade tension is expected to hamper the market growth during the forecast period.
  • A high number of LNG regasification project plans are expected to be proposed in upcoming years, creating several opportunities for the market players, thus, making an emerging LNG market.

India LNG Industry Segmentation

LNG is natural gas that has been cooled to a liquid state, at about -260° F, for shipping and storage. The volume of natural gas in its liquid form is about 600 times smaller than in its gaseous state. This process makes it possible to transport natural gas to places pipelines do not reach. The LNG market is segmented by LNG infrastructure and LNG trade. By LNG infrastructure, the market is segmented into LNG liquefaction plants, LNG regasification facilities, and LNG shipping. By application, the market is segmented into city gas distribution, petrochemicals, and other applications. The report also covers the market size and forecasts for the LNG market across major regions. For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

LNG Infrastructure
LNG Liquefaction Plants
LNG Regasification Facilities
LNG Shipping
Application
City Gas Distribution
Petrochemicals
Other Applications
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India LNG Market Size Summary

The India LNG market is poised for significant growth, driven by increasing demand for gas power generation and the expansion of LNG-fueled fleets. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19. Despite challenges such as LNG oversupply and trade tensions, the market is expected to benefit from numerous LNG regasification projects in the pipeline, presenting ample opportunities for market players. The City Gas Distribution sector, encompassing PNG connections and CNG stations, is anticipated to dominate the market, supported by government initiatives aimed at increasing the share of natural gas in the energy mix. The completion of multiple CGD bidding rounds and the expansion of natural gas infrastructure are expected to further bolster the market.

The rise in LNG bunkering infrastructure is attributed to the growing preference for LNG as a marine fuel, driven by its clean emission benefits. Several ports are developing LNG fueling infrastructure, with India emerging as a regional hotspot for the LNG market. Notable projects, such as the development of a dedicated LNG bunkering facility in Karnataka, are set to enhance the country's LNG import capacity. Major industry players, including JSW Infrastructure, Shell PLC, Adani Total Gas, and Petronet LNG Ltd., are actively investing in expanding LNG terminals and infrastructure. These developments, along with strategic investments and government support, are expected to propel the growth of the Indian LNG market in the coming years.

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India LNG Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2027

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 PESTLE Analysis

  2. 2. MARKET SEGMENTATION

    1. 2.1 LNG Infrastructure

      1. 2.1.1 LNG Liquefaction Plants

      2. 2.1.2 LNG Regasification Facilities

      3. 2.1.3 LNG Shipping

    2. 2.2 LNG Trade

    3. 2.3 Application

      1. 2.3.1 City Gas Distribution

      2. 2.3.2 Petrochemicals

      3. 2.3.3 Other Applications

India LNG Market Size FAQs

The India LNG Market is projected to register a CAGR of greater than 8% during the forecast period (2024-2029)

JSW Infrastructure, Shell PLC, Adani Total Gas, GAIL Limited and Petronet LNG Ltd. are the major companies operating in the India LNG Market.

India LNG Report Snapshots

India LNG Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)