The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), India Power & Distribution Transformer Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.
In-Depth Market Overview of India Power & Distribution Transformer Industry (2024-2030):
According to the latest report, TheIndia Power & Distribution Transformer Market size was valued at around USD 3.97 billion in 2023 and is projected to reach around USD 8.41 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 10.84% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the India Power & Distribution Transformer industry.
Key Takeaways: Beneficial for Stakeholders and Clients:
- Historical Data: 2019-22
- Base Year: 2023
- Forecast Period: 2024-30
- CAGR: 10.84%
- Market Value (2023): USD 3.97 Billion
What are the major Challenge Facing the India Power & Distribution Transformer industry?
The Presence of Obsolete Power Infrastructure Hampering the Efficiency of the Transformers – The presence of obsolete infrastructure has been a grave concern in the Indian Power Industry for decades. Although the power infrastructure in the past period has improved significantly, nonetheless, there is a notable share of old, and inefficient infrastructure still prevailing in the rural parts of the country. The integration of outdated network systems leads to severe transmission and distribution (T&D) losses. These losses further adversely impact the operations of the transformers, as to compensate for the power loss during transmission and distribution, they have to operate beyond their capacities.
Such instances, when they occur frequently, result in more fuel consumption, faster depreciation of the equipment due to load fluctuations and balancing, grid instability, etc. The hampered operations put pressure on every point of the electricity supply chain, thus restraining the optimum function of the overall Indian Power Industry and its revenues. Additionally, T&D losses, being a critical component of aggregate technical and commercial losses, when estimated by the CEA, require an investment of almost USD 53.5 billion to upgrade the distribution infrastructure during 2022-2027. Such large investments directly implicate the backwardness of the T&D infrastructure in the country, which hinders the efficiency of critical equipment and components too.
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India Power & Distribution Transformer Market Segmentation
The India Power & Distribution Transformer Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:
- By Category
- Power Transformers- Market Size & Forecast 2019-2030, (USD Million)
- Distribution Transformers- Market Size & Forecast 2019-2030, (USD Million)
- By Phase
- Single Phase- Market Size & Forecast 2019-2030, (USD Million)
- Three Phase- Market Size & Forecast 2019-2030, (USD Million)
- By End User
- Power Plants- Market Size & Forecast 2019-2030, (USD Million)
- Power Utilities- Market Size & Forecast 2019-2030, (USD Million)
- Residential & Commercial- Market Size & Forecast 2019-2030, (USD Million)
- Industrial- Market Size & Forecast 2019-2030, (USD Million)
- By Region
- North
- South
- East
- West
As per the regional aspect, the India Power & Distribution Transformer Market is expected to be dominated by North America by capturing the potential market share.
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Top Companies in the India Power & Distribution Transformer Market
BHEL, Siemens India, ABB, GE T&D India Ltd., Schneider Electric India, GC Power & Industrial Solutions Ltd., Kirloskar Electric Co. Ltd., Transformers & Rectifiers India Ltd., Kotsons Power & Distribution Transformers, ABC Transformers Pvt. Ltd., and others
India Power & Distribution Transformer Industry Recent Development:
2024: Transformers & Rectifiers India Ltd. managed to secure an order worth nearly USD 27.89 million from Power Grid for the designing, engineering, manufacturing, testing, and supply of all the critical components for power transmission set-up, including power transformers.
2023: Schneider Electric India reported the launch of a new product line, including power transformers, to cater to the growing digitalization in India through expanding its existing manufacturing facility in Bengaluru, Karnataka.
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