India Low Power Transformers Market Assessment, By Product Type [Split Core, Solid Core], By Cooling Method [Oil-Cooled, Air-Cooled], By Application [Utility, Residential and Commercial, Industrial] By Region, Opportunities and Forecast, FY2018-FY2032F

India low power transformers market is projected to witness a CAGR of 7.40% during the forecast period FY2025- FY2032F, growing from USD 461.07 million in FY2024 to USD 816.21 million in FY2032. 

India Low Power Transformers Market Size, Share and Forecast 2032

India low power transformers market is projected to witness a CAGR of 7.40% during the forecast period FY2025- FY2032F, growing from USD 461.07 million in FY2024 to USD 816.21 million in FY2032. The low power transformers market has experienced significant growth in recent years due to rising focuses on urbanization, industrialization, and increasing investment in energy-efficient equipment is expected to maintain a strong pace of expansion in the coming years. The rapid urbanization in the country has led to the expansion of residential, commercial, and industrial infrastructure sectors, which necessitate the deployment of reliable and efficient power distribution systems and contribute to rising demand for low power transformers.&nbsp; Low power transformers play a critical role in meeting electricity needs and managing the electric loads in urban and semi-urban areas which drives the demand for equipment in the market.
For instance, in December 2024, the power ministry decided to introduce the National Electricity Plan (NEP) for 2023-32.&nbsp; The NEP outlines an investment of around USD 105 billion to address the growing demand for enhancing and expanding transmission systems, both at the central as well as state levels. This development highlights that the government is investing in the expansion of transmission and distribution systems, which drive the demand for low power transformers in the market.
Furthermore, inclination towards renewable energy integration further fuels the demand for low-power transformers. The low-power transformers are becoming essential for connecting decentralized energy sources to the grid which drives its demand in the market. Furthermore, the country is prioritizing the modernization of power infrastructure which could lead to the reduction of power loss during transmission and distribution boosting the efficient low power transformers in the market. Energy efficiency regulations and the adoption of smart grid technologies in smart cities and urban development projects also contribute to the low power transformer market growth in the coming years. Additionally, the Indian government is providing subsidies and investments for the development of renewable power infrastructure which amplified the need for low power transformers to ensure connectivity in remote and underserved regions.
<h2>Rapid Urbanization and Industrialization Augmenting the Market Growth</h2>
Rapid urbanization and industrialization in India are significantly driving the demand for low power transformers in the country. Urban areas experience heightened electricity consumption due to residential, commercial, and industrial activities. The country is highly inclined towards power infrastructure investment to cater to the rising demand for power in different sectors. Additionally, the growing interest in renewable energy sources necessitates the installation of low power transformers for integrating renewable sources into the existing grid. The rising urbanization leads to a rise in the demand for reliable electricity, which necessitates the installation of low power transformers to ensure a stable and adequate supply of power. Low power transformers play a crucial role in stepping down voltage levels to ensure efficient transmission and distribution of electricity from power plants to end users.
The utility sector is focusing on urban development strategies, including the creation of smart cities and buildings that require modern and efficient smart power grids. The low power transformers are integral to these smart grids, managing the complex power distribution needs of smart city infrastructure, which drives their demand in the market. Furthermore, government investments in smart grid infrastructure aim to enhance the management of power flow, contributing to the growth of the low power transformer market in the coming years.
For instance, in August 2024, the Government of India approved 12 new industrial smart city projects with a total project cost of around USD 3.3 Billion (including land cost). The tentative construction timelines of trunk infrastructure are 36-48 months from the actual date of appointment of contractor. This development highlights that the government is investing in the development of smart city which will drive the demand for low power transformers in the coming years.
<h2>Government Support and Investment in Power Infrastructure Creates Market Opportunity</h2>
Government programs focus on ensuring electricity reaches every household, which requires the installation of low-power transformers to step down the voltage for safe and efficient use in homes and small businesses. The Indian government is prioritizing a reliable electricity supply, investing in grid expansion, modernization, and renewable energy integration, creating opportunities for low power transformer market growth in the coming years. These government investments, which include significant upgrades to distribution networks and the construction of new substations, contribute to the rising demand for low power transformers. Further, rural electrification schemes, such as the Saubhagya Scheme and Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY), have enhanced the rural electricity network, which will directly fuel demand for low power transformers in India.
The government has taken several initiatives for the electrification of rural areas in the country by launching several schemes, such as the Revamped Distribution Sector Scheme, the Integrated Power Development Scheme (IPDS), PM-JANMAN (Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan), and Pradhan Mantri Sahaj Bijli Har Ghar Yojana (SAUBHAGYA), among others. These schemes aim to improve electrification for continuous power supply in rural areas, along with modernized transmission infrastructure, thereby driving the demand for low power transformers in the country.
In addition, low power transformers are used to integrate decentralized renewable energy sources into the grid, ensuring efficient power distribution at lower voltage levels. Furthermore, the initiatives related to promoting solar installations in residential and commercial buildings drive the demand for low-power transformers for managing power generation effectively.
For instance, in February 2022, the Government of India approved a new project amounting to USD 4.12 Billion under the Integrated Power Development Program (IPDP). The program is set up to strengthen sub-transmission and distribution networks in urban areas of the country. This development highlights the government&rsquo;s initiative to drive the demand for low power transformers in the country.
<h2>Split Core Transformers to Dominate the Low Power Transformers Market</h2>
The split core transformers segment is experiencing a high adoption rate, which makes the segment dominate the market. Split core low power transformers are easy to install without interrupting the existing electrical circuit which allows residential and industrial sectors for quick and non-intrusive setups of the electricity flow. The feature of low power transformer is particularly beneficial in retrofitting applications, which drive its demand in the market. Furthermore, the utilities sector is striving to improve energy efficiency for providing accurate measurements of electrical currents, which contributes to the rise in the adoption of split core transformers in the market.
In addition, the advanced split core transformers are designed to withstand harsh conditions, making equipment suitable for various applications, including portable metering and ground fault detection which promote the split core growth in the market.
South Region is the Fastest Growing Region in Low Power Transformers Market
The south region is the fastest growing market with the highest CAGR in the forecast period. The region is focusing on urban development and smart cities, which will position it as the fastest growing market in the coming years. The region includes states like Tamil Nadu, Karnataka, Telangana, and Andhra Pradesh which are at the forefront of power infrastructure development, necessitating the installation of low power transformers to support the increasing electricity consumption from residential, commercial, and industrial sectors. The region has significant investments in the integration of renewable energy, which further contributes to the demand for low power transformers.
Additionally, government initiatives aimed at enhancing electricity access and modernizing power infrastructure have resulted in a robust demand for low power transformers to ensure reliable power supply.
For instance, in June 2024, the State Minister for Finance and Human Resources Management and Energy, Thangam Thennarasu, Tamil Nadu, decided to purchase 2,500 new and additional distribution transformers with capacities of 25 KVA to 250 KVA with a cost of USD 24 million. This development showcases the rising demand for distribution transformers and low power transformers in the region.
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Future Market Scenario (FY2025 &ndash; FY2032F)
<ul>
<li>The push towards smart grid technologies is another significant trend driving the demand for low power transformers.</li>
<li>Rapid urban growth and industrial development necessitate the expansion of electrical infrastructure, which drives the demand for low-power transformers in the market.</li>
<li>Government policies promoting infrastructure development and electrification are set to boost the demand for low power transformers in the country.</li>
<li>The overall rise in electricity consumption driven by technological advancements, lifestyle changes, and population growth creates a need for additional low power transformers to manage higher loads effectively which drives the market growth in the coming years.</li>
</ul>
Report Scope
&ldquo;India Low Power Transformers Market Assessment, Opportunities, and Forecast, FY2018-FY2032F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, that provides an in-depth analysis and qualitative and quantitative assessment of the current state of India low power transformers market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between FY2025 and FY2032F. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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FY2024
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Historical Period
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FY2018-FY2023
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Forecast Period
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FY2025-FY2032
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Projected Growth Rate
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CAGR of 7.40% between FY2025 and FY2032
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Revenue Forecast in FY2032
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USD 816.21 million
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Segments Covered
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Product Type, Cooling Method, Application
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Regions Covered
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North, South, East, West and Central
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Key Companies Profile
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CG Power &amp; Industrial Solutions Ltd., Bharat Heavy Electricals Limited (BHEL), Siemens India Limited, ABB India Limited, Schneider Electric India Private Limited, Prima Transformers Private Limited, Servomax Limited., Datsons Electronics Private Limited
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;India low power transformers market&nbsp;has been segmented into the following categories:&nbsp;
<ul>
<li>By Product Type
<ul>
<li>Split Core</li>
<li>Solid Core</li>
</ul>
</li>
<li>By Cooling Method
<ul>
<li>Oil-Cooled</li>
<li>Air-Cooled</li>
</ul>
</li>
<li>By Application
<ul>
<li>Utility</li>
<li>Residential and Commercial</li>
<li>Industrial</li>
</ul>
</li>
<li>By Region
<ul>
<li>North</li>
<li>South</li>
<li>East</li>
<li>West and Central</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
Continuous innovation characterizes the landscape of low power transformers, as the companies compete in terms of energy efficiency, product life, and unique features. The market outlook remains positive, owing to increased demand for the integration of renewable energy and push for smart grid technologies which enhances the demand for advanced low power transformers. Product launches, agreements, business expansions, collaborations, and developing technologies are projected to increase competition in the fast-paced market.
For instance, in July 2024, CG Power &amp; Industrial Solutions Ltd. decided to increase the production capacity for motors, transformers, and switchgears by investing around USD 76 million in the market. This development helps the company to increase its production capacity and market share in the coming years.
Key Players Operating in India Low Power Transformers Market are:
<ul>
<li>CG Power &amp; Industrial Solutions Ltd.</li>
<li>Bharat Heavy Electricals Limited (BHEL)</li>
<li>Siemens India Limited</li>
<li>ABB India Limited</li>
<li>Schneider Electric India Private Limited</li>
<li>Prima Transformers Private Limited</li>
<li>Servomax Limited</li>
<li>Datsons Electronics Private Limited</li>
</ul>
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<li>What is the current and future market size of the product/service in question specific to different countries?</li>
<li>How are the markets divided into different product/service segments and the market size and growth of each segment?</li>
<li>What is the market potential of different product segments and their investment case?</li>
<li>How are the markets predicted to develop in the future and what factors will drive or inhibit growth?</li>
<li>What is the business environment and regulatory landscape specific to the product/service?</li>
</ul>
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India Low Power Transformers Market Assessment, Opportunities and Forecast, FY2018-FY2032F

India low power transformers market is expected to experience growth due to a rise in demand from the manufacturing sector and government inclination towards the electrification of rural areas which drive the market growth in the coming years.

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