Posted On: 2020-01-06
Rapid increase in generation capacity coupled with initiative to provide last mile sustainable connection to electricity are anticipated to supplement the growth of power and distribution transformer industry in India– 6Wresearch
As a result of achievement from UDAY and various other discom schemes, there has been a significant acceleration of infrastructural development activities which has led to a surge in demand for transformers in the country. Transformers remain a crucial part of the power sector further as India continues its effort to provide sustainable electricity solution in the rural part of the country, the demand for distribution transformers is likely to see a continuous increase as these types of transformers remain crucial for rural electrification. Infrastructure development, such as that of hotels, stadiums, offices and recreational facilities along with the strengthening of the distribution and transmission network in a bid to reduce the T&D losses would open up new avenues for the transformers industry in India.
According to 6Wresearch, India Power And Distribution Transformers Market size is projected to grow at a CAGR of 3.0% during 2020-26. Government initiatives to rapidly increase the electrification rate in the past through initiatives such as Saubhagya, DDUGJY have given a massive boost to the application of transformers in the nation. Further, as government now shift its aim towards better distribution and sustainability, the trend is likely to continue duringthe forecast period. Rapid rate of industrialisation and urbanization have significantly boosted the demand for greater power generation and distribution. As the country plans to strengthen the domestic manufacturing industry through initiatives such as Make in India, the industrial demand for transformers is anticipated to see a continued growth during the forecast period.
According to Chhavi Malpni, Senior Research Analyst, 6Wresearch, “The power utility segment holds the maximum revenue share, by verticals, due to rapidly rising rate of electrification as well as increasing power generation capacity especially in the area of renewable power segment. Additionally, as India continues to reduce its dependence of traditional sources of energy, the country has witnessed a constant rise in number of solar parks and wind farms which has opened up new avenues for the application of power and distribution transformation.
According to Sahil Sharma, Research Associate, 6Wresearch, “Amongst all the regions, the Western India would continue to dominate the overall revenue share overthe coming years owing to widespread application due to upcoming power projects such as Vidarbha Industries Power Ltd300MW power plant in Nagpur and Adani power 3 x 660 MW power plant in Gondia. Further, government initiatives to provide sustained power solution under 24X7 power of all scheme are likely to boost the prospect for application of power and distribution as T&D losses remains high in the region”
Some of the major companies in India power and distribution transformer market include BHEL, Voltamp, Transformers and Rectifiers and Crompton Greaves.
"India Power and Distribution Transformers Market (2020-26)" provides an in-depth analysis with 59 figures covered in 127 pages. The report estimates and forecast the overall India power and distribution transformer market by type, rating, regions, colling system, applications and fuel type. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.