India Distribution Transformer Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The Indian distribution transformer market is expected to register a CAGR of more than 4.56% during the forecast period of 2022-2027. The COVID-19 pandemic has negatively impacted the Indian distribution transformer market. The lockdown measures have affected the financial health of power distribution companies. Distribution transformer manufacturers have faced the struggle to manage their operational and financial bases. As a result, a number of operations were halted. Factors such as increasing energy demands from the industries and expansion of transmission and distribution networks, along with the growth in the renewable energy sector, are expected to drive the Indian distribution transformer market. However, delay in the implementation of the projects due to lengthy government procedures is expected to restrain the market during the forecast period.
Key HighlightsThe Indian distribution transformer market is fragmented. Some of the key players in this market include Mitsubishi Electric Corporation, CG Power and Industrial Solutions Ltd, Hitachi Energy Ltd, Siemens Energy AG, and Hyosung Heavy Industries.
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