“In Delhi-NCR the CNG passenger car sales are projected to grow at a CAGR of more than 25%”, RNCOS Study.
Noida, UP -- (SBWIRE) -- 12/24/2014 -- RNCOS' recent research report "India CNG Passenger Car Market Outlook 2018" predicts the OEM sales of CNG cars to grow at a CAGR of 31% during the 5 year period FY 2013 to FY 2018. Delhi-NCR is the largest CNG car market in India. As per the Ministry of Petroleum and Natural Gas' statistics, on road CNG cars in Delhi-NCR have grown at a CAGR of over 25% during FY 2009 to FY 2013. The number of GCNG passenger cars in Delhi has surpassed a whopping 450,000 cars in FY 2013. Sufficient CNG infrastructure, coupled with cost effectiveness has given wings to OEM sales of CNG cars as well as aftermarket fitment of CNG kits in cars. Taxi drivers form a major chunk of the demand for retro fitment of CNG kits for their fleet.
As per our research and analysis, over 30,000 CNG cars were sold in Delhi-NCR during FY 2013. The sales are projected to grow at a CAGR of more than 25% during FY 2013-FY 2018. Car manufacturers are optimistic about the future of green fuel. Leading manufacturers including Maruti Suzuki, Hyundai, Tata Motors etc. have launched the CNG versions of their most selling cars in the region.
The latest RNCOS study describes the CNG car market performance in India. Current and future landscape of OEM sales of CNG cars and aftermarket fitment of CNG kits in passenger cars have been presented for key states with CNG infrastructure including Delhi-NCR, Maharashtra, Gujarat, Andhra Pradesh and Uttar Pradesh. Besides, detailed description of current and future outlook of CNG stations and pipeline network shall help strategists chalk out the right plans for expansion/entry into the potential markets. The research report presents a clear picture of the industry providing market trends, challenges, profiling of OEMs, their existing and upcoming CNG models and latest developments in the industry.
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