Over 1,50,000 Transformers to be Deployed in India Annually: GMI

- Advertisement -
  • Global Market Insights (GMI) mentioned that the global market size of transformers was over $60 billion in 2019
  • GMI has forecast the global transformer market to reach market size worth $90 billion by 2026
  • Dry type transformer market, as per GMI, is expected to witness a growth of over seven per cent by 2026

The power transformer market exceeded $25 Billion in 2019 and is set to grow on account of increasing peak load energy consumption and coherent reforms favoring
the integration of long route electric infrastructure.

“Key industry players have instituted various integral research & technological platforms to suffice the persisting demand for uninterruptible electricity. Revenue generation through service provisions along with long term strategic tie-ups, and joint ventures have been the major strategic breakthroughs,” read a recent report published by GMI.

Annual deployment of over 1,50,000 transformer units in India by 2026

The India transformer market, as per the report, is expected to witness an annual deployment of over 1,50 000 units by 2026. The national electricity industry has gained impetus subjected to consistent and sustainable policies including the Integrated Energy Policy (IEP), rural electrification reforms, IPDS and similar initiatives.

- Advertisement -

“Government infused FDI schemes along with the Make in India program has led to a significant flow of funds from various international agencies and industry participants. Leading players have aligned focus to attain market penetration through joint ventures, technological collaborations and regional expansion which in turn has positively influenced the overall industry landscape,” read the report.

Factors fueling demand for effective electrical components

Ongoing industrialization and large-scale suburban migration across emerging economies have considerably uplifted electricity consumption which in turn will fuel the
demand for effective electrical components. Technological upliftment, minimal losses, operational flexibility, sustainable network integration along with strict energy efficiency reforms will augment the business scenario.

“Moreover, rise in competence across the industrial peripheral supported by key players tapping potential across niche markets will establish a favorable business platform. Dry type transformer market is expected to witness a growth of over seven per cent by 2026. Effective resistivity to electrical surges & short circuits coupled with environmental sustainability have paved favorable grounds for technological adoption,” read the report.

It continued, “Although, high system costs adhered by lower overall efficiency when compared to auxiliary counterparts have restrained product adoption. However, environmental compatibility, effective fire prevention, efficient performance across extreme climatic zones supported by stringent energy efficiency protocol are few indispensable parameters defining technological prevalence.”

- Advertisement -

Most Popular Articles

Mukul Yudhveer Singh
Mukul Yudhveer Singh
Mukul Yudhveer Singh is an Editor at EFY. He’s an experienced business journalist who is both an enthusiast and a cynic of technology. Believes in data, as well as hunch-based journalism. He defines journalism as- reporting facts which help the audience take their own decisions, not ones that influence them!

Infineon, Stellantis Partner To Advance Next-Gen Vehicle Power

0
With a dedicated Joint Power Lab and secured supply agreements, the partnership is set to drive transformative advancements in EV performance, cost-effectiveness, and the...

Audi Launches New EV Brand In China, Drops 4-Ring Logo

0
On Thursday, Audi introduced a new electric vehicle brand in China, branding the cars solely with the name 'AUDI' instead of its traditional four-ring...
IIT Bhubaneswar

IIT Bhubaneswar Partners MOSart Labs To Boost Engineering Skills In Chip Industry

0
The aim is to help students with essential skills in areas such as very-large-scale integration (VLSI), semiconductor technology, analog and digital design, validation, and...
Jaguar concept EV

JLR Highlights Its Biggest Reinvention With The Concept Car Jaguar Design Vision

0
The four-door GT is anticipated to be Jaguar's most powerful model to date. Its targeted range is approximately 430 miles (700 kilometers), and its...

ISE Labs Expands With New OSAT Facility In Mexico

0
Turbocharging its growth in North America’s tech hub, ISE Labs is set to build an OSAT semiconductor facility in Jalisco, Mexico, eyeing to create...

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Learn From Leaders

Startups