Research Nester published a report titled “India Power & Distribution Transformer Market: Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the India power distribution transformer market in terms of market segmentation by transformer type, power rating, mounting, phase, and by end-user.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The India power distribution transformer market is anticipated to grow with a CAGR of 7.41% during the forecast period, i.e., 2021 – 2030. The market is segmented by transformer type into core type transformers, shell type transformers, and berry type transformers, out of which, the shell type transformers segment is anticipated to hold the highest market share and further attain a market revenue of USD 1941.65 Million by the end of 2030.
The India power distribution transformer market is also segmented by end-user into utility, residential, commercial, and industrial, out of which, the utility segment is anticipated to garner the largest revenue of USD 3202.02 Million by the end of 2030.
The India power distribution transformer market is estimated to garner a revenue of USD 4258.0 Million by the end of 2030, up from a revenue of USD 2137.86 Million in the year 2020. Increasing focus of the government of the country in improving its existing grid infrastructure, followed by the shift in focus towards renewable energy sources, and the growing demand for energy are some of the major factors anticipated to drive the market growth in the coming years.
Rising Urban Population and Economical Activities in the Country to Drive Market Growth
In India, the urban population, as a share of total population, touched 34.926% in the year 2020, up from 27.667% in the year 2000, according to the statistics by the World Bank.
The urban population in the country is one of the major factors which is driving the need for energy amongst different end-use sectors. As a result, the government of India is increasingly working on expanding the availability of electricity to the remotest of village, which in turn, is anticipated to drive the demand for transmission and distribution equipment. Moreover, increasing development of smart cities, and the growing adoption of HVDC is also expected to drive the growth of the power & distribution transformer market in India.
However, the huge investment and maintenance costs associated with the replacement of power distribution network and the high price of transmission and distribution equipment are expected to operate as key restraint to the growth of India power distribution transformer market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the India power distribution transformer market which includes company profiling of Toshiba Energy Systems & Solutions Corporation, General Electric, CG Power and Industrial Solutions Limited, Siemens AG, Hitachi ABB Power Grids, Mitsubishi Electric Corporation, Bharat Heavy Electricals Limited, URJA Techniques (India) Private Limited, Kirloskar Electric Company, ALSTOM, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the India power distribution transformer market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.