The forecast data indicates a steady increase in the import of liquid dielectric transformers with a power handling capacity of 10,000 KVA and more to India from 2024 to 2028. Starting at 34.49 thousand units in 2024 and expected to reach 36.48 thousand units by 2028, this shows a consistent upward trend. In 2023, the import volume stood at 34.0 thousand units, denoting a minimal increase year-on-year. The compound annual growth rate (CAGR) over this period is approximately 1.41%, reflecting a moderate growth rate.
The future trends to watch for include the potential impact of government policies promoting renewable energy sources, technological advancements in transformer efficiency, and infrastructure development projects. Increased focus on sustainable energy practices may drive further demand for advanced and efficient transformers in the Indian market.
