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2019 Report - India Transformer Market Growth and Forecast

A transformer is a device that transfers electrical energy from one circuit to another circuit, operating on the principle of electromagnetic induction. A basic transformer consists of a core that creates a path for magnetic flux, a primary coil that receives current from an AC source, a secondary coil that receives current from the primary winding and transfers it to the load, and finally, an enclosure that protects the transformers from dirt, moisture, and other damage. Transformers are basically of two types: power and distribution transformers. Power transformers are used for stepping up or stepping down the electric current voltage from generators. Distribution transformers are used for changing electric current voltage at various transmission stations and sub-stations.

Analysts forecast the Transformer market in India to grow at a CAGR of 13.29 percent over the period 2014-2019.

The Transformer market in India can be segmented into two product segments: Distribution Transformer, and Power Transformer. The Transformer market in India is also segmented into three categories based on voltage levels: 11kV-220kV, 220kV-400kV, and 400 kV and Above.

Transformer Market in India 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers India; it also covers India’s Transformer market landscape and its growth prospects in the coming years. The report also includes a discussion on the key vendors operating in this market.

The report recognizes the following companies as the key players in the Transformer Market in India: ABB Ltd., Alstom SA, Bharat Heavy Electricals Ltd. (BHEL), Crompton Greaves Ltd. and Siemens AG.

Other Prominent Vendors in the market are: EMCO, Bharat Bijlee, IMP Powers, Kirloskar Electric Company, Prolec GE International S de RL de CV, Transformers & Rectifiers (India), Vijai Electricals and Voltamp Transformers.

One of the major trends in the market is the increased capacity in power generation. As per the 12th Five-year Plan and the 13th Five-year Plan, it is estimated that the power generation capacity will target the achievement of 88.6 GW and 100 GW of power, respectively.

According to the report, one of the major drivers of the market is the increase in production of electricity in India. Increased production of electricity requires the use of power transformers and distribution transformers for supplying electricity from generators to end-users. This has led to growing demand for transformers in India.

Further, the report states that one of the major challenges faced by the market is the lack of adequate testing facilities for transformers, which requires transformers to be dispatched to foreign countries for testing, leading to loss of time and an increase in costs for transformer manufacturing vendors. In addition, non-availability of funds has led to the lack of establishment of testing facilities in India.

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