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India power transformers market: 14% CAGR forecast between 2013-2018

Press Release   •   Jul 16, 2013 11:46 BST

The India power transformers market is expected to grow at the CAGR of 14% till 2018. Under the 12th Five Year Plan (2012-17), the government plans to spend USD 200 Billion on developing and strengthening power infrastructure in India. Similarly, IEEMA (Indian Electrical and Electronics Manufacturers Association) along with government framed a policy to limit the imports of transformers from China and Korea along with changing government polices on import duty for CRGO steel is likely to further promote the domestic transformers industry in India. Indian transformer industry continues to face tough competition from the Chinese manufacturers. However, with the continuous support from the government to promote the power transformer industry through investments, tax benefits, subsidies etc. will help the industry to grow over the coming years.

Transformers are an indispensable component of an alternate current (AC) electrical system for electricity generation, transmission or distribution. In addition, the demand for transformers increases proportionately with the amplification of power generation, transmission or distribution networks in the country. In India, the demand for equipment used in power sector is multiplying at a rapid rate because of social, economic and industrial development. Government's attempt of attaining 100% electrification across the country by 2017 would contribute to the demand for power transformers. However, power deficit across the country is likely to continue during the next decade. As of now, out of 5160 towns in India, only 35% towns have over 90% households using electricity for lighting purpose. In more than 15% of the towns, the penetration rate of electricity across households is less than 50 per cent.

For more information on the India power transformers market, see the latest research: India Power Transformers Market Research

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