Market Size of India Transformer Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Transformer Market Analysis
The India transformer market is expected to rise at a CAGR of more than 5% during the forecast period. COVID-19 moderately impacted the market in 2020. Presently the market has reached pre-pandemic levels.
- Factors such as increasing energy demands from the industries and expansion of transmission and distribution systems are likely going to drive the Indian transformer market. Also, several favorable government policies in India made to the increasing energy demand are likely going to drive the Indian transformer market.
- However, delay in the implementation of the projects due to lengthy government procedures is expected to restrain the Indian transformer market.
- A smart grid is seen as 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 transformer market in the future.
