Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWS
The India power & distribution transformer market is estimated to garner a revenue of USD 4258.0 Million by the end of 2030, by growing with a CAGR of 7.41% over the forecast period, i.e., 2021 – 2030. Moreover, the market garnered a revenue of USD 2137.86 Million in the year 2020. The growth of the market can primarily be attributed to the growing demand for energy in the country across different end-use sectors, followed by the increasing power generation in the country. Moreover, rapid development in the area of deployment of smart grid, and the shift towards renewable energy sources, along with the growing deployment of green transformers, are some of the major factors anticipated to drive the market growth.
The demand for energy in India is growing significantly owing to the rapidly expanding population, growing industrialization, and increasing urban population, among others. According to the statistics by the World Bank, the urban population of India as a share of total population increased from 27.667% in the year 2000 to 34.926% in the year 2020. CLICK TO DOWNLOAD SAMPLE REPORT
Backed by the growing demand for energy, the government of the country is increasingly focusing on to improve its power infrastructure, which is one of the major factors anticipated to drive the growth of the market in the coming years. Moreover, with the surge in the development of smart cities, the focus on deployment of green and renewable energy transformers and shift towards renewable sources of energy is increasing at a massive pace, which in turn, is anticipated to drive the growth of the India power & distribution transformer market.
The India power & distribution transformer market is segmented by transformer type into core type transformers, shell type transformers, and berry type transformers. Out of these, 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. On the basis of power rating, the market is segmented into small (500 – 7500 KVA), medium (7500 KVA – 100 MVA), and large (100 MVA & above). Out of these, the small (500 – 7500 KVA) segment attained the largest market revenue of USD 968.88 Million in the year 2020 and is further projected to touch USD 2052.36 Million by the end of 2030. The segment is also anticipated to grow with the highest CAGR of 8.07% during the forecast period. On the basis of mounting, the market is segmented into pad, pole, and underground vault. Out of these segments, the pad segment is expected to touch the largest revenue of USD 3512.85 Million by the end of 2030. Further, the market is also segmented on the basis of phase into single and three phase, out of which, the three phase segment is anticipated to hold the highest market share and also grow with the highest CAGR of 8.09% during the forecast period. On the basis of insulation, the market is segmented into dry and liquid immersed, out of which, the liquid immersed segment is expected to grow with the highest CAGR of 7.75% during the forecast period. By end-user, the market is segmented into utility, residential, commercial, and industrial. Out of these, the utility segment is anticipated to garner the largest revenue of USD 3202.02 Million by the end of 2030.
Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the India power & distribution transformer market that are included in our report are 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.
FREQUENTLY ASKED QUESTIONS
The rise in demand for energy, modernization of existing power grids, and increasing focus on the adoption of smart grid are some of the major factors anticipated to drive the market growth.
The market is anticipated to attain a CAGR of 7.41% over the forecast period, i.e., 2021 – 2030.
The huge investment and maintenance costs associated with the replacement of power distribution network and the high price of transmission and distribution equipment are some of the major factors estimated to hamper the market growth.
The major players in the market are Toshiba Energy Systems & Solutions Corporation, General Electric, CG Power and Industrial Solutions Limited, Siemens AG, Hitachi ABB Power Grids, Mitsubishi Electric Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by transformer type, power rating, mounting, phase, and by end-user.
The shell type transformers segment is anticipated to generate the largest market revenue of USD 1941.65 Million by the end of 2030 and display significant growth opportunities.
Related Reports
Disclaimer | Privacy Policy | Terms & Conditions
Copyright © 2021 Research Nester. All Rights Reserved
