Indian Government Plans to Triple Nuclear Power Generation by 2024
Government is actively
looking to acquire Uranium from new sources, which will propel power &
distribution transformer market in India.
India: The Government of India
(GoI) has set target to achieve nuclear power generation capacity of 15,000 MW
by 2024. As on 2017, the generation capacity of India’s nuclear plants
cumulates to 4780 MW. The GoI revealed plans in Lok Sabha to speed up the setting
up of new plants and unveiled that there is no constrain for raw material
(Uranium), which is available in ample quantity, both from domestic as well as
international market. As per Ministry sources, it is the first time ever that
the Nuclear Power Corporation of India has been allowed to set up joint venture
nuclear plants along with Public Sector Undertakings.
TechSci
Research depicts with growth in power generation capacity, the demand for power
distribution and transmission surges correspondingly. Transformers play a vital
role in power transmission and distribution network. In 2016, India’s total
installed capacity of power was 310 GW, and this figure is expected to further
increase over the next five years. Increasing number of government policies to
promote rural electrification such as Deen Dayal Upadhyaya Gram Jyoti Yojana
(DDUGJY), national grid, coal linkages and push for renewable energy are
further driving power & distribution transformers demand in India.
According
to released report of TechSci
Research “India Power & Distribution
Transformers Market
Competition Forecast & Opportunities, 2022” power & distribution
transformers market in India is projected to surpass USD3 billion by 2022.
Distribution transformers dominated India power & distribution transformers
market over the past few years, and this trend is anticipated to continue in
the coming years, as well. Growing demand for distribution transformers in
India can be attributed to increasing focus of Government of India to provide
access to electricity to all rural households of the country.