Ireland, Dublin: Research and Markets has announced the addition of the "Transformer Market in India 2015-2019" report to their offering.
According to the report, the transformer market in India is projected to grow at a CAGR of 13.29% over the period 2014-2019, reports Business Wire.
An important trend in the market is the increased capacity in power generation targeted to achieve 100 GW of power according to the 13th Five-year Plan.
The increase in production of electricity in India is one of the major drivers of the market, while one of the major challenges is the lack of adequate testing facilities for transformers.
The key vendors mentioned include ABB, Alstom, BHEL, Crompton Greaves and Siemens.
Source: Business Wire