Over the past years, there has been an ever-quickening drumbeat of grim news over oil imports. Global dependence upon oil is a burning issue and India is also not spared from its dependence on oil imports. This dependence on oil has urged the concern towards rapid technological innovations and development that seems to be more promising, both in terms of economy and environment concern. Therefore, CNG fuel for vehicles represents a highly attractive segment. The use of CNG in the transportation sector is primarily driven by the environmental and public health imperatives. With a large number of Indian cities embarking for cleaner fuel, CNG is gaining momentum in the Indian automobile market.
With a significant increase in the number of CNG vehicles, the CNG vehicle market is witnessing a strong growth pattern. According to our latest report, "India CNG Vehicle Market Analysis", the CNG kit market worth around INR 16 Billion in FY 2011. And the market is likely to grow at a CAGR of around 22% during FY 2011-2014 to reach around INR 30 Billion in FY 2014. Factors contributing to this growth include increasing demand for more economical fuel compared to conventional fuels and rising demand for environment-friendly fuel to decrease intensifying pollution levels in cities in India.
On the segment-wise analysis, our report finds that CNG autos have the majority share in the total number of CNG-run vehicles in FY 2010. Buses, cars, and light commercial vehicles are also increasingly using this CNG fuel.
Our report has also included state-level analysis of CNG vehicles and CNG refuelling stations. It has been observed that Delhi has the highest number of CNG-run vehicle followed by Maharashtra. However, Gujarat has the maximum number of refuelling stations in the country followed by Delhi.
The report provides statistics on current market size, and also forecast CNG-run vehicles' sales (segment-wise), CNG refuelling stations, and CNG-kit market. A prudent analysis on the availability of CNG programs and initiatives has also been discussed in the report. Recent drivers and trends with respect to the CNG vehicle market have also been covered.
With an insight into the competitive landscape, the report discusses profiles of major CNG vehicle and kit manufacturers. Overall, the report is meant to provide a deep understanding of the CNG vehicle market to facilitate the intending clients to be acquainted with all the necessary information.
