India Power & Distribution Transformer Market to Grow at 6.89% CAGR till FY2026
Increasing demand for power driven products and power industry to fuel the India Power & Distribution Transformer market through FY2026.
According to TechSci Research report, “India Power & Distribution Transformer Market By, Product Type (Power Transformer & Distribution Transformer), By Region, Competition, Forecast & Opportunities, 2026”, India Power & Distribution Transformer market was valued at USD 2065.4 million in FY2020, and is projected to grow at a CAGR of over 6.89% during FY2021-FY2026, owing to the growing power industry.
The increasing need for electrification of both urban and rural India has led to an increase in the demand for transformers in the future. Moreover, increasing adoption of the latest technology has led to the development of smart transformers leading to smart grid developments for power generation along with government initiatives like DDUGJY & IPDS scheme for the power sector is expected to drive the India Power & Distribution Transformers market during the forecast period.
Browse 14 market data Tables and Figures spread through 70 Pages and an in-depth TOC on “India Power & Distribution Transformers Market”
Based on product type, the India Transformer market has been categorized into power transformers and distribution transformers. The distribution transformers segment accounted for the largest market share of 56% in FY2020 and will continue to dominate by 57% till FY2026 owing to the increasing demand for quick power distribution with an appropriate voltage at the consumer end.
The transformer market is further divided into regions of South, North, West, East. Out of which South India accounted for the largest market share of 32.65% in FY2020 and is expected to dominate in the coming years owing to the growth of industries, urban planned towns, latest smart electronic gadgets used in the region. The India Power Transformer Market by power output has been segmented into 5.1 to 50, 50.1 to 160, 160.1 to 350, above 350 MVA out of which above 350 MVA holds 50% market share due to its high output capacity, and the South region dominates the market. The India Distribution Transformer Market by power output has been divided into 100, 100.1 to 315, 315.1 to 5000 KVA out of which 315.1 to 5000 KVA holds almost 50% of the market share, in which South India again holds a major share and the trend is expected to continue to do so for next six years.
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Few of the major players operating in the India Power & Distribution Transformers market include Toshiba Transformations & Distribution Systems, Bharat Heavy Electricals Ltd, Crompton & Greaves Power and Industrial Solutions, ABB Hitachi India Ltd, General Electric, Schneider Electric, etc.
Due to the COVID-19 pandemic there has not been any impact on the transformer market, in fact there was a surge in the demand for power because of longer lockdown periods and huge requirement of electricity in hospitals for treatment of COVID-19 affected patients, with a special requirement of ventilator support for them for the treatment. Irrespective of the pandemic situation the market of Power & Distribution Transformers is expected to boom for next six years.
Owing to the large electrification demand of India, the distribution transformers acquire a major portion of the market as per the requirement of proper distribution of voltages for consumption at the end user level, acting as a step-up or step-down transformer as per the need and demand. Thus, Power & Distribution Transformers are likely to further propel the market over the next few years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“India Power & Distribution Transformer Market by Product Type (Power Transformer & Distributor Transformer), By Power Output, By Region, Competition, Forecast & Opportunities, FY2026” has evaluated the future growth potential of the India Power & Distribution Transformers market and provides statistics and information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the India Power & Distribution Transformers market.
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