Market Size of India Power Transformer Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| 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 Power Transformer Market Analysis
The Indian power transformer market is expected to register at a CAGR of more than 3% during the forecast period.
The COVID-19 outbreak negatively impacted the market due to regional lockdowns leading to a slowdown in ongoing and upcoming projects. Currently, the market reached pre-pandemic levels.
- Factors such as increasing power generation capacity to meet energy demand and expanding transmission and distribution systems will likely drive the Indian power transformer market. Also, several favorable government policies to increase energy demand in India will likely drive the Indian power transformer market.
- However, delay in implementing the projects due to lengthy government procedures are expected to restrain the Indian power transformer market.
- A smart grid is a highly efficient and economical technology that can reduce carbon emissions. Such up-gradation for now existing networks in the region can create several opportunities for the Indian power transformer market in the future.
