Indian Government’s Focus for Rural Electrification to Drive the Indian Power Transformers Market
The key target of India’s 12th five year plan to reduce the power deficit along with connecting all villages with power grids will drive the Indian market for power transformers
As a result of rapid industrialization and urbanization in India, the electricity demand has surged over the past few years. The government is putting efforts to connect all villages and towns with power grids during the 12th Five Year Plan. Indian government’s planned capacity addition of over 88,536 MW during the 12th Five Year Plan (2012-2017) and an investment of USD 200 Billion in the power sector would unfold the latent opportunities for power transformer companies in India.
According to a recently published report by TechSci Research “India Power Transformers Market Forecast and Opportunities 2018”, the power transformers market revenues in India are expected to grow at the CAGR of 14% during 2013-2018. The government initiatives and investments can be attributed as the key market drivers. As a result of increased government spending on electrification and rising power demands, the electrical equipment manufacturers are likely to get benefitted. Programmes such as RGGVY (Rajiv Gandhi Grameen Vidyutikaran Yojana) and R-APDRP (Revised Accelerated Power Development and Reforms Program) are bolstering the demand for electrical equipments such as switch gears, conductors, capacitors and transformers. Transformers being used in generation, transmission as well as distribution network has experienced healthy growth over the last few years and the market is further set to rise as a result of increased governmental focus towards rural electrification.
“The increasing penetration of Chinese transformer manufacturers in the Indian market is likely to intensify the market competition. With the amplification of market competition, the domestic players are likely to target the export markets to increase their revenues. The companies are taking initiatives by developing green transformers and concentrating towards the replacement/ maintenance market in order to efficiently manage the increasing demand for electricity” said Mr. Karan Chechi, Research Director with TechSci Research a research based global management consulting firm.
“India Power Transformers Market Forecast & Opportunities, 2018” has evaluated the future growth potential of India’s power transformers market and provides statistics and information on market structure, statistics and trends. The report includes power transformer’s projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in power transformers market in India.