According to TechSci Research report, “India CNG Market - Industry Size, Share, Trends, Opportunity, and Forecast 2030”, the India CNG market was valued at USD 22.7 billion in 2024 and is expected to reach USD 48.45 billion by 2030, with a projected CAGR of 13.3% during the forecast period. This growth is driven by the increasing demand for cleaner, cost-effective fuel alternatives in various sectors.
The cost-effectiveness of CNG compared to gasoline and diesel fuels is a major driver of its market growth in India. CNG is generally cheaper than petrol and diesel, offering significant savings on fuel costs for both consumers and businesses. This economic advantage is especially beneficial for commercial fleets and public transportation operators, who experience reduced operational expenses. Moreover, the stable pricing of CNG, supported by domestic production and lower price volatility than crude oil-based fuels, enhances its economic appeal. The combination of lower fuel costs and operational savings is accelerating the adoption of CNG vehicles and infrastructure.
Based on the source, the India CNG market is predominantly driven by Non-Associated Gas, a segment expected to maintain its dominance throughout the forecast period. Non-Associated Gas, extracted from fields not directly linked with crude oil production, has become the primary source of CNG due to its abundance and suitability for various applications. This type of gas offers a stable and continuous supply, which is crucial for meeting the growing demand for CNG in transportation and other sectors.
With advancements in technology and increased investment in infrastructure, Non-Associated Gas has become more cost-effective, making it a viable option compared to Associated Gas, which often experiences fluctuating supply conditions. While unconventional sources like biogas and coal bed methane are gaining traction, Non-Associated Gas remains the preferred choice for CNG production.
The West region of India is emerging as the fastest-growing area in the CNG market. This growth is driven by factors like the region's robust industrial base, economic growth, and rising demand for cleaner transportation solutions. Cities such as Mumbai, Pune, and Ahmedabad, major commercial hubs, have seen significant investments in CNG infrastructure, including refueling stations and distribution networks.
State governments in Western India are also promoting CNG adoption through favorable policies and incentives, further fueling market growth. The region’s commitment to reducing air pollution and aligning with national environmental goals has led to the establishment of comprehensive CNG infrastructure and raised public awareness about CNG's benefits over conventional fuels.
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The West region’s strategic geographic location also enhances its role as a leader in the CNG market. With major ports and transportation networks, the region benefits from efficient CNG distribution and supply, reducing logistical challenges and costs. Moreover, the West region has relatively developed infrastructure compared to other parts of India, facilitating the faster establishment of CNG refueling stations and support services. This infrastructure advantage supports the growing fleet of CNG vehicles, including buses, auto-rickshaws, and private cars. Government incentives, such as reduced taxes and financial support for CNG vehicle purchases, have made CNG a more attractive option for both consumers and businesses.
Rising consumer awareness and a shift toward eco-friendly alternatives are also contributing to the West's dominance in the CNG market. As urban areas in the West experience increased vehicular congestion and air quality concerns, the demand for cleaner, cost-effective fuel solutions like CNG continues to grow. The region’s economic vitality, infrastructure, government support, and environmental commitment position it as the fastest-growing segment of India’s CNG market, setting a benchmark for other regions to follow.
Key market players in the India CNG Market are: -
- Indian Oil Corporation Limited
- Bharat Petroleum Corporation Limited
- Hindustan Petroleum Corporation Limited
- GAIL (India) Limited
- Tata Power Company Limited
- Reliance Industries Limited
- Mahanagar Gas Limited
- Indraprastha Gas Limited
- Sabarmati Gas Limited
- Gujarat Gas Limited
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“The India CNG market presents several promising opportunities. The growing emphasis on reducing urban air pollution opens avenues for increased adoption of CNG as a cleaner fuel alternative. Expanding infrastructure, such as CNG refueling stations, particularly in tier-2 and tier-3 cities, enhances accessibility and boosts market growth. Additionally, government incentives and subsidies for CNG vehicles stimulate consumer demand and investment in cleaner technologies.
Technological advancements in CNG vehicle efficiency and storage solutions further drive market expansion. As the Indian government continues to focus on sustainable energy solutions, there is significant potential for partnerships and investments in CNG infrastructure and vehicle conversions, aligning with national environmental and energy goals.” said Mr. Karan Chechi, Research Director of TechSci Research, a research-based Global management consulting firm.
“India CNG Market By Source (Associated Gas, Non-Associated Gas, Unconventional Sources), By Application (Light Duty Vehicles, Medium/Heavy Duty Buses, Medium/Heavy Duty Trucks, Others), By Region, Competition, Forecast and Opportunities, 2020-2030F”, has evaluated the future growth potential of India CNG Market and provides statistics 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 decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India CNG Market.
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