Indian transformer market is projected to reach USD 104.13 million in 2025

According to a report by Mordor Intelligence, the transformer market is expected to grow to USD 156.80 million by 2030, exhibiting a compound annual growth rate (CAGR) of over 8.53 percent during the forecast period.

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The Indian transformer market is projected to reach USD 104.13 million in 2025 and USD 156.80 million by 2030, exhibiting a compound annual growth rate (CAGR) of over 8.53% during the forecast period. Increased energy demands from various industries and expanding transmission and distribution networks across the country primarily drive this growth.

One of the core drivers of this growth is the Indian government's continued focus on infrastructure development and power sector reforms. Rising energy demands due to urbanisation and industrial expansion are compelling upgrades and expansions in the country’s electricity infrastructure. Government policies supporting these developments further bolster market growth. However, despite the positive momentum, the market also faces some challenges, notably delays in project execution due to complex and protracted governmental procedures.

Nonetheless, significant opportunities are emerging, particularly with the adoption of smart grid technology. This technology is being promoted as a cost-effective solution to manage energy distribution efficiently while reducing carbon emissions. Integrating smart grid systems into existing networks represents a promising avenue for long-term market development, potentially unlocking substantial value.

Distribution Transformers Set to Dominate

Among the various segments of the Indian transformer market, the distribution transformer category is expected to dominate during the forecast period. Distribution transformers play a vital role in the final voltage transformation in electric power distribution systems. Their function is to lower the voltage from distribution lines to a usable level for residential, commercial, and industrial end-users.