Market Size of India Distribution Transformer Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.56 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
India Distribution Transformers Market Analysis
The Indian distribution transformer market is expected to register a CAGR of more than 4.56% during the forecast period of 2022-2027. The COVID-19 pandemic has negatively impacted the Indian distribution transformer market. The lockdown measures have affected the financial health of power distribution companies. Distribution transformer manufacturers have faced the struggle to manage their operational and financial bases. As a result, a number of operations were halted. Factors such as increasing energy demands from the industries and expansion of transmission and distribution networks, along with the growth in the renewable energy sector, are expected to drive the Indian distribution transformer market. However, delay in the implementation of the projects due to lengthy government procedures is expected to restrain the market during the forecast period.
- Due to its increasing number of new small power rating substation projects across the country, the below 500 kVA distribution transformer segment is expected to be the fastest-growing segment for the Indian distribution transformer market during the forecast period.
- A smart grid is seen as a highly efficient and economical technology that can reduce carbon emissions. Such up-gradations for existing networks in the country is likely to create immense opportunities for the market soon.
- Favorable government policies in India made according to the increasing energy demand are expected to drive the Indian distribution transformer market.
