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Strategic Analysis of Liquid and Gaseous Cargo Transportation Market in India
Frost & Sullivan, July 2009, Pages: 108
The study analyses the cargo transportation market for POL, liquid chemicals, natural gas, industrial gases and edible oils in India, along with the modes of transportation and forecasts
This Frost & Sullivan research service titled Strategic Analysis of Liquid and Gaseous Cargo Transportation Market in India provides current market size, forecasts, and the key market drivers and restraints. In this research, Frost & Sullivan's expert analysts thoroughly examine the market for transportation of liquid and gaseous cargo by road, rail, coastal, and pipeline in the following end-user markets: petroleum oil transportation, liquid chemicals transportation, edible oil transportation, and gases transportation.
Improving Road Infrastructure and Huge Forthcoming Investments in Pipelines, Fuel the Liquid and Gaseous Cargo Transportation Market in India
The growing Indian economy, increasing disposable income, and rising automobile and industrial production are driving the market for liquid and gaseous cargo transportation. Mounting consumption of natural gas as well as petroleum, oil, and lubricants (POL) creates demand for more efficient transportation of these products. By 2010, public sector oil companies will spend close to $11.33 billion on expanding supplies and building new transportation networks for oil and gas. The Indian Ministry of Petroleum also expects demand to increase from the 176.40 million tonnes of oil equivalent (mmtoe) in 2007-08 to 233.58 mmtoe in 2011-12.
While more than half of the liquid and gaseous cargo in India was transported domestically by road in 2008, pipelines are expected to gain share from road and railways in the POL segment due to the higher safety, lower rates of pilferage, and faster transportation time. “The impact of upcoming pipelines and increase in utilization of existing pipelines would have a major impact on the rail services and a marginal impact on road transport services,” says the analyst of this research service. “If the current utilization of pipelines in India, which stands at 79.3 percent, can be scaled up to above 100 percent, it will directly impact road and rail modes.” In the POL segment, road transport services will survive in the long run by serving the numerous retail outlets. In other product categories such as chemical and edible oil, the traditional mode of road transport will continue to be popular.
However, the global economic decline and slump in crude oil production is likely to affect consumption of POL and industrial gases in India. Lower demand from the automobile and industrial sectors will restrain the transportation market for liquids and gaseous cargo in the country, at least for the next two years. In response, the Indian Government is encouraging and supporting Indian companies in exploration and ventures in other regions around the world. As a result, companies such as ONGC Videsh Limited, Reliance Industries Limited, and others are looking for exploration opportunities in Africa, Russia, and other regions. “This trend is expected to create major opportunities for POL and gaseous cargo transportation companies, since the discovered oil & gas from foreign locations has to be transported back to India, and then distributed within domestic market,” notes the analyst.
The regulatory environment supporting this market is also evolving. Besides, increased safety regulations, tracking the freight is coming into focus. Though it is mandatory for all hazardous products transporters to have a vehicle tracking system (VTS) in their vehicles, adherence levels in India are low. Recently, the public sector units – Bharat Petroleum Corporation Limited, Indian Oil Corporation Ltd., and HPCL – have made it mandatory that their service providers adhere to the rules.
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