India Power & Distribution Transformer Market to reach $2.9 billion by 2022- 6Wresearch
Economic development and need for reliable power supply due to population growth have accelerated the demand for power in India. Further, growth in industrialization and infrastructure development have resulted into demand for Power & Distribution transformers across the country.
According to 6Wresearch, the India Power & Distribution Transformer market is forecast to reach $2.9 billion by 2022. India Power & Distribution Transformer market is highly dependent on policies undertaken by the Government. The market is projected to witness robust growth in the next 5 years as the government has taken major initiatives such as Deendayal Upadhyaya Gram Jyoti Yojna (DDUGJY) and Integrated Power Development Scheme (IPDS) for strengthening of sub-transmission and distribution network in rural and urban areas respectively.
According to Ravi Bhandari, Senior Research Analyst, Research and Consulting, 6Wresearch, “Distribution transformers holds major revenue share in the overall transformer Market. The Government is now focused towards strengthening of power transmission & distribution (T&D) network to provide quality power in various sectors.”
Supply of quality power is limited by bottlenecks such as high AT&C losses in transmission and distribution sector. Therefore, Government of India has launched Ujwal Discom Assurance Yojana (UDAY) scheme for financial turnaround of power distribution utilities, which is expected to drive the market for distribution transformers,” Ravi further added.
According to Kanika Sharma, Research Associate, Research and consulting, 6Wresearch, “In India, power utility application holds the major share in power and distribution transformer market and is further expected to witness robust growth by 2022. Increasing efforts towards strengthening of the inter-regional transmission grid together with new capacity addition and increasing electricity consumption are some of the few factors which have strengthened the need for transformers in the utilities segment.
“Import of low grade secondary CRGO (Cold Rolled Grain Oriented laminated Silicon Steel) is the major challenge faced by the Indian transformer manufacturers. The country imported around 250,000 metric tonnes (MT) of CRGO sheets in 2015-16. However, out of this only 80,000 MT is prime material while the rest is of second grade quality,” Kanika further added.
Some of the major Companies in India Power and Distribution Transformer Market includes Crompton Greaves, BHEL, ABB, Siemens, Transformers & Rectifiers, GE T&D, Voltamp, Schneider, Toshiba T&D, TBEA and EMCO.
“India Power and Distribution Market (2017–2022)” report provides in-depth analysis with 66 figures and 29 tables covered in more than 160 pages. The report estimates and forecast the overall India Power and Distribution Transformer Market by types, power ratings, applications, cooling system and regions. The report also gives the insights on competitive landscape, companies benchmarking, company profiles, market drivers and restraints.
6Wresearch is the premier, one stop market intelligence and advisory center, known for its best in class business research and consulting activity. We provide industry research reports and consulting service across different industries and geographies which provide industry players an in-depth coverage and help them in decision making before investing or enter into a particular geography.
For Further details, please contact: