Forecast: Import of Transformers Electric Having a Power Handling Capacity of 1-16 kVA to India

In 2023, India's import of electric transformers with a power handling capacity of 1-16 kVA stood at less than 2.4 million. Forecasted data for 2024 to 2028 shows a consistent yearly growth, with values increasing from approximately 2.4 million to around 2.7 million by 2028, indicating steady import demands.

- 2024: 2.3959 million

- 2025: 2.4858 million, suggesting a year-on-year growth of about 3.8%.

- 2026: 2.5739 million, marking an increase of approximately 3.5% from 2025.

- 2027: 2.6602 million, with a growth rate of about 3.4% from the previous year.

- 2028: 2.7449 million, maintaining a similar growth trend of roughly 3.2%.

The compound annual growth rate (CAGR) remains consistently around 3.5% over these five years.

Future trends to watch for include technological advancements in transformer efficiency and changes in regulatory policies, which could influence import dynamics. Additionally, India's increasing focus on renewable energy infrastructure may impact the demand for such transformers, potentially leading to variations in forecast models.