MarkNtel Advisors recently published a detailed industry analysis of the India Power And Distribution Transformer Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
India Power And Distribution Transformer Market, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The India Power And Distribution Transformer Market size was valued at around USD 3.97 billion in 2023 and is projected to reach around USD 8.41 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 10.84% during the forecast period, i.e., 2024-30.
Key Findings in India Power And Distribution Transformer Market:
- Historical Analysis: 2019–2022
- Base Year: 2023
- Forecast Period: 2024–2030
Leading Market Players- BHEL, Siemens India, ABB, GE TAndD India Ltd., Schneider Electric India, GC Power And Industrial Solutions Ltd., Kirloskar Electric Co. Ltd., Transformers And Rectifiers India Ltd., Kotsons Power And Distribution Transformers, ABC Transformers Pvt. Ltd., and others
Key Highlights of the Report
- Market Dimensions And Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
What are the major Driver the India Power And Distribution Transformer industry?
Government Subsidies for the Installation of Residential And Commercial Rooftop Solar Power Plants – The government of India, to reduce its carbon emissions primarily from the energy sector, has pushed the adoption of green energy sources amongst producers and consumers. Since the development and switch of large traditional power plants to green power plants is time- and cost-consuming, the construction of small-scale renewable energy power plants sufficient enough to cater to individual spaces is observed as a feasible option to drastically reduce CO2 emissions from electricity consumption.
Moreover, to fuel the integration of these power plants, the central and state governments of India have announced financial benefits in terms of subsidies on electricity bills, tax rebates on the purchase of solar power equipment, and others. The Ministry of New and Renewable Energy, under its Rooftop Solar Programme Phase 2, offers subsidies of about USD 225 per KW for up to 3KW systems, around USD 112.5 per KW for systems ranging from 3 to 10KW, and a fixed amount of nearly USD 1462.5 for any system above 10KW. Via this program, the government aims to reduce and ease the upfront fixed cost of the solar plant establishment for residential consumers and increase the uptake of residential rooftop solar power plants. Hence, with the increasing construction of rooftop solar power plants, the demand for distribution transformers has been significantly increasing throughout the historical period.
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What segments define the India Power And Distribution Transformer Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?
By Category
- Power Transformers- Market Size And Forecast 2019-2030, (USD Million)
- Distribution Transformers- Market Size And Forecast 2019-2030, (USD Million)
According to report, Among them, Distribution Transformers have gained a larger market share in the past few years.
By Phase
- Single Phase- Market Size And Forecast 2019-2030, (USD Million)
- Three Phase- Market Size And Forecast 2019-2030, (USD Million)
By End User
- Power Plants- Market Size And Forecast 2019-2030, (USD Million)
- Power Utilities- Market Size And Forecast 2019-2030, (USD Million)
- Residential And Commercial- Market Size And Forecast 2019-2030, (USD Million)
- Industrial- Market Size And Forecast 2019-2030, (USD Million)
According to report, Out of them all, the industrial segment has been witnessing notable growth in the India Power And Distribution Transformer Market.
Explore the Complete India Power And Distribution Transformer Market Analysis Report – https://www.marknteladvisors.com/research-library/india-power-distribution-transformer-market.html
Geographical Analysis: India Power And Distribution Transformer Market
By Region
- North
- South
- East
- West
India Power And Distribution Transformer Industry Recent Development:
- 2024: Transformers And Rectifiers India Ltd. managed to secure an order worth nearly USD 27.89 million from Power Grid for the designing, engineering, manufacturing, testing, and supply of all the critical components for power transmission set-up, including power transformers.
- 2023: Schneider Electric India reported the launch of a new product line, including power transformers, to cater to the growing digitalization in India through expanding its existing manufacturing facility in Bengaluru, Karnataka.
Key Questions Addressed in This Study
- What are the primary factors driving the growth of the India Power And Distribution Transformer Market?
- How is the India Power And Distribution Transformer Market expected to evolve over the next five years?
- What key insights can be drawn from current trends shaping the market?
- What is the current market size, and how is it forecasted to change in the coming years?
- What is the future outlook for the market in terms of technological innovation and geographic expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, And data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial And varied client base, including multinational corporations, financial institutions, governments, And individuals, among others.
Our specialization in niche industries informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing And forecasting, And trend analysis, among others, for 15 diverse industrial verticals.
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