The India Power & 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.
India Power & Distribution Transformer Market Driver:
Government Subsidies for the Installation of Residential & 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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Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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India Power & Distribution Transformer Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2023
-Historical Period: 2019 to 2022
-Forecast Period: 2024 to 2030
- By Category
- Power Transformers- Market Size & Forecast 2019-2030, (USD Million)
- Distribution Transformers- Market Size & Forecast 2019-2030, (USD Million)
- By Phase
- Single Phase- Market Size & Forecast 2019-2030, (USD Million)
- Three Phase- Market Size & Forecast 2019-2030, (USD Million)
- By End User
- Power Plants- Market Size & Forecast 2019-2030, (USD Million)
- Power Utilities- Market Size & Forecast 2019-2030, (USD Million)
- Residential & Commercial- Market Size & Forecast 2019-2030, (USD Million)
- Industrial- Market Size & Forecast 2019-2030, (USD Million)
- By Region
- North
- South
- East
- West
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – BHEL, Siemens India, ABB, GE T&D India Ltd., Schneider Electric India, GC Power & Industrial Solutions Ltd., Kirloskar Electric Co. Ltd., Transformers & Rectifiers India Ltd., Kotsons Power & Distribution Transformers, ABC Transformers Pvt. Ltd., and others
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