India Power & Distribution Transformer Market Volume is projected to grow at a CAGR of 6.7% respectively during 2024-30F

Power Transformers sector by Type held the highest revenue share in India Power & Distribution Transformer Market -6Wresearch

In 2023, Power Transformers captured the largest revenue share of India transformer market due to the growing demand for electricity driven by infrastructure development, industrial growth, and urbanization. These transformers are crucial for transmitting electricity over long distances, supporting the expansion of the national grid. While Distribution Transformers also see strong demand for last-mile delivery, power transformers are generally more expensive due to their higher capacity and more complex design.

According to 6Wresearch, India Power & Distribution Transformer market Volume is projected to grow at a CAGR of 6.7% respectively during 2024-30F. India's Power and Distribution Transformer market is set for robust growth, driven by rising investments, higher electricity consumption, increased use of electronic appliances, and EV adoption. These trends are straining existing networks, highlighting the need for enhanced transformer capacity to ensure efficient transmission. Government initiatives such as the Integrated Power Development Scheme (IPDS), PM-Surya Ghar Muft Bijli Yojana, and Saubhagya are further driving demand. The Ministry of New and Renewable Energy (MNRE) has also boosted its budget from INR 128.5 billion in 2023-24 to INR 191 billion in 2024-25, including INR 10 billion for the Solar Power Grid Scheme, a 110% rise from the previous year.

According to Suryakant, Senior Research Analyst, 6Wresearch, liquid-filled transformers dominated the revenue share in India's Power & Distribution Transformer Market in 2023 due to their superior cooling capabilities, cost-effectiveness, reliability, and suitability for large-scale power applications. Their ability to handle high loads with effective thermal management makes them the go-to solution for the evolving power infrastructure in India.

India Power & Distribution Transformer Market (2024-2030) report provides an in-depth analysis with 31 figures and 12 tables, covered in 88 pages. The report thoroughly covers market by Type, Power Rating, Cooling System, Applications and Regions. India Power & Distribution Transformer Market outlook report provides an unbiased and detailed analysis of the on-going India Power & Distribution Transformer 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.