India transformers market to grow at a CAGR of 10% by 2020
United Kingdom, London: ReportBuyer has made available a new report titled “"India Power & Distribution Transformers Market Forecast & Opportunities, 2020".
United Kingdom, London: ReportBuyer has made available a new report titled “India Power & Distribution Transformers Market Forecast & Opportunities, 2020”.
According to the report, the power and distribution transformers market in India is projected to grow at a CAGR of over 10% until 2020, reports Sys-Con Media.
Under the 12th five-year plan (2012-2017), Indian government allocated $200 billion for strengthening the country’s power generation, transmission and distribution sector.
One of the major developments underway includes the country’s shift from 765 kV to 1200 kV power transmission. This, in turn, is fuelling the demand for EHV and UHV class power transformer installations throughout the country.
The report also concludes that foreign players, especially Chinese and Korean electrical equipment manufacturers, have captured almost one fourth of Indian transformers market, mainly in EHV and UHV class power transformers, as the products offered by them are considered cheaper and technologically advanced.
Source: Sys-Con Media
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