Research and Markets has announced the addition of the "India Power & Distribution Transformer Market (2017-2022): Market Forecast by Types, Power Rating, Cooling System, Applications, Regions and Competitive Landscape" report to their offering.
According to the report, the India power & distribution transformer market is forecast to reach $2.9 billion by 2022.
Government is taking major steps to strengthen the power transmission & distribution network and has undertaken initiatives such as UDAY for financial turnaround of power distribution companies.
Further, the Government of India has projected an investment of $22 billion in power transmission sector by fiscal year 2019 to strengthen the transmission network thus increasing the demand for power transformers.
The Western region accounted for the largest revenue share in the country in 2016. However, the major investment in transmission sector is expected in the Southern region, followed by the Northern and Western region.
In the distribution sector, the Western region is expected to receive highest investments followed by the Southern and Northern region.
The major market players mentioned in the report are ABB India, Bharat Bijlee Limited, Bharat Heavy Electricals, Crompton Greaves, Emco, GE T&D India, IMP Powers, Kirloskar Electric Company, Schneider Electric Infrastructure, Siemens, TBEA Energy, India), Toshiba Transmission & Distribution Systems (India), Transformer & Rectifiers (India) and Voltamp Transformer.
Source: Research and Markets