Research and Markets: India CNG Vehicle Market Analysis - Market is Witnessing a Strong Growth Pattern

DUBLIN--December 14, 2011: Research and Markets has announced the addition of the "India CNG Vehicle Market Analysis" report to their offering.

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 of 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 fuel. It was also observed that Delhi and Maharashtra have the maximum number of CNG stations.

Read more inside India CNG Vehicle Market Analysis

Companies Mentioned:

• Maruti Suzuki India Ltd.
• Ashok Leyland Ltd.
• Bajaj Auto Ltd.
• Hindustan Motors Ltd.
• Tata Motors
• Tomasetto Achille Spa
• Landi Renzo SpA
• Pelmag S.A.
• Lomani Auto Gas (S.A. Engineers)
• Lovato Gas S.p.A

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