India Power & Distribution Transformer Market Highlights Over 2020 - 2030
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.
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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.
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.
Growth Drivers and Challenges Impacting the Growth of the India Power & Distribution Transformer Market
Growth Drivers
- Rise in Demand for Energy
- Modernization of Existing Power Grids
- Increasing Focus on the Adoption of Smart Grid
Challenges
- Huge Investment and Maintenance Costs Associated with the Replacement of Power Distribution Network
- High Price of Transmission and Distribution Equipment.
India Power & Distribution Transformer Market Segmentation Synopsis
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.
Top Featured Companies Dominating the Market
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.
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