India Transformer Market (2024-2030) | Revenue, Forecast, Share, Analysis, Value, Size, Outlook, Companies, Industry, Trends & Growth

Topics Covered in India Transformer Market Report

India Transformer Market report thoroughly covers the market by Core, Product, Winding, application, Cooling, Rating and Phase. The market report provides an unbiased and detailed analysis of the ongoing market 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.

India Transformer Market Synopsis

India Transformer Market is expected to register modest growth during the coming years owing to increasing demand for energy due to rising industrialization. Expansion of the transmission and distribution segment is driving the India Transformer Market Growth. Additionally, the increasing number of new installations in the country is propelling the development of the market. Rising penetration towards the reduction of carbon emission and adoption of smart grid is adding to the India Transformer Market Share.

According to 6Wresearch, India Transformer Market size is projected to grow at a CAGR of around 6.4% during 2024-2030. The electricity demand has been increasing rapidly in India, leading to a rise in demand for transformers. The industrial sector, which accounts for a significant portion of the country's electricity consumption, is the primary driver of the transformer market. Factors such as urbanization and the adoption of modern technologies in industries are boosting industrial growth. The growth of the renewable energy sector like solar and wind energy is also driving the need for transformers. Moreover, India has one of the fastest-growing economies globally, and its Gross Domestic Product (GDP) is expected to reach US$5 trillion by 2025. Thus, the rising demand for electricity to support the country's increasing economic growth will further fuel the transformer market.

The India transformer market faces several challenges that affect its growth. One of the primary challenges is the lack of proper policies and regulations. Due to the lack of quality standards and regulations, sub-standard transformer equipment is often found in the market, which poses a threat to safety. Another challenge is the limited availability of raw materials required for transformer manufacturing, such as copper and aluminum. The fluctuating cost of raw materials also affects the cost of transformer equipment, which ultimately affects the market demand.

India Transformer Industry: Leading Players

Several key players dominate the India transformer market. The notable ones are Bharat Heavy Electricals Limited, Siemens AG, Crompton Greaves Limited, ABB India Limited, and Voltamp Transformers Limited. These players have a significant market share and offer a wide range of transformer equipment, meeting the different needs of end-users.

Transformer Market in India: Government Initiatives

The Indian government is giving significant attention to the transformer market. The promotion of 'Make in India,' a government initiative, encourages the manufacturing of transformer equipment within India. It aims to make India a global manufacturing hub for the transformer industry by providing numerous incentives to local and foreign manufacturers. The government is also investing in the renewable energy sector and expanding the power transmission network, which will create opportunities for the transformer market's growth.

Market Segmentation by Product

According to Nikhil, Senior Research Analyst, 6Wresearch, the distribution transformer segment accounted for a substantial share and is expected to lead the market during the upcoming years.

Market Segmentation by Core

The Shell core transformer segment, based on core, is surging ahead due to its energy-efficient nature, high load-bearing capacity, and the government's focus on renewable energy. 

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Transformer Market Outlook
• Market Size of India Transformer Market, 2023
• Forecast of India Transformer Market, 2030
• Historical Data and Forecast of India Transformer Revenues & Volume for the Period 2020 - 2030
• India Transformer Market Trend Evolution
• India Transformer Market Drivers and Challenges
• India Transformer Price Trends
• India Transformer Porter's Five Forces
• India Transformer Industry Life Cycle
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Core for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Closed for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Shell for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Berry for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Product for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Power transformer for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Distribution transformer for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Instrument transformer for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Winding for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Two-winding for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Auto-transformer for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Application for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Residential & Commercial for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Utility for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Industrial for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Cooling for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Dry type for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Oil Immersed for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Insulation for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Gas for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Oil for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Solid for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Air for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Others for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Phase for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Single phase for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By 3 - phase for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By Rating for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By ? 10 MVA for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By 11 MVA to 60 MVA for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By 61 MVA to 600 MVA for the Period 2020 - 2030
• Historical Data and Forecast of India Transformer Market Revenues & Volume By > 600 MVA for the Period 2020 - 2030
• India Transformer Import Export Trade Statistics
• Market Opportunity Assessment By Core
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Winding
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Cooling
• Market Opportunity Assessment By Insulation
• Market Opportunity Assessment By Phase
• Market Opportunity Assessment By Rating
• India Transformer Top Companies Market Share
• India Transformer Competitive Benchmarking By Technical and Operational Parameters
• India Transformer Company Profiles
• India Transformer Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Core

• Closed
• Shell
• Berry

By Product

• Power Transformer
• Distribution Transformer
• Instrument Transformer
• Others

By Winding

• Two-Winding
• Auto-Transformer

By Application

• Residential & Commercial
• Utility
• Industrial

By Cooling

• Dry-Type
• Oil Immersed

By Phase

• Single Phase
• 3 – Phase

By Rating

• 10 MVA
• 11 MVA To 60 MVA
• 61 MVA To 600 MVA
• > 600 MVA

India Transformer Market (2024-2030): FAQs