India is expected to overtake China as the world’s largest cooking gas LPG residential sector market by 2030, Wood Mackenzie said on Tuesday.
“Liquefied petroleum gas (LPG) demand in the residential sector will continue to see sustainable growth at a cumulative annual growth rate (CAGR) of 3.3 per cent, reaching 34 million tonnes (MT) in 2030 as households’ dependence on solid biomass diminishes in the long run supported by rising average household incomes and urban population,” it said in a report.
Driven by environmental and health concerns, the government has also been implementing schemes to help lower-income families cope with the cost of switching from dirtier biomass to LPG.
