India Unconventional Gas Market to Grow at Steady CAGR During Forecast Period
Growing energy demand and
depleting conventional gas reserves to drive India unconventional gas market
during forecast period
According to
TechSci Research report, “India Unconventional Gas
Market By Type, By Application, By Region, Competition,
Forecast & Opportunities, 2024”, India unconventional
gas market is expected to grow at a steady CAGR during the forecast period
owing to the increasing investments in offshore production and exploration of
oil & gas. Additionally, upstream activities for the oil & gas industry
are expected to boost the production volumes thereby propelling the
unconventional gas market in the country. However, hydraulic fracturing
technology used to produce unconventional gas requires many chemicals which can
cause eye, skin, and respiratory problems, and can also affect the brain,
nervous system, and gastrointestinal system. This, in turn, is hampering the
market for unconventional gases. Additionally, environmental issues such as
water contamination associated with unconventional gas exploration &
production is further restricting the growth of market.
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India
unconventional gas market is segmented based on type, application, region and
company. Based on type, the market can be fragmented into shale gas, tight gas,
coalbed methane and others. Shale gas is expected to dominate the market during
forecast period on account of the presence of abundant shale gas reserves in
the country. Based on application, the market can be fragmented into
industrial, residential, commercial, power generation, transportation,
fuel industry and others. The transportation segment is anticipated to witness
significant growth during forecast period on account of increase in the
deployment of CNG vehicles in the country.
Oil & Natural
Gas Corporation, Chevron Petroleum India Private Limited, Exxon Mobil India
Private Ltd., Royal Dutch Shell, China Petroleum & Chemical Corporation
(Sinopec), Gujarat State Petronet Limited, Reliance Industries Limited, Indian
Oil Corporation Limited, Bharat Petroleum Corporation Limited, Oil India
Limited and others are some of the leading players operating in India unconventional
gas market.
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“India unconventional
gas market is expected to witness significant growth during the forecast period
owing to the growing demand for energy and increasing disposable income of
consumers in the country. Additionally, India has started focusing on the
production of unconventional gas. For instance, Reliance Industries started commercial
production of coalbed methane at its Sohagpur fields in Madhya Pradesh.” said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“India Unconventional Gas Market By Type, By
Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of India unconventional
gas 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 unconventional gas market.
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