In 2023, the import of liquid dielectric transformers with a capacity of 10,000 KVA or more to India was estimated to stand at a value lower than the forecasted 68.974 million USD for 2024. Over the following years, a steady increase is noted, with import values forecasted to reach 77.012 million USD by 2028. This suggests a consistent compound annual growth rate (CAGR) over five years. Each year from 2024 to 2028 shows year-on-year growth, indicating a rising demand or investment interest in high-capacity transformers in India.
Future Trends to Watch:
- Increased infrastructure development, leading to higher demand for high-capacity transformers.
- Potentially higher import rates due to technological advancements and renewable energy projects.
- Global supply chain dynamics impacting pricing and availability of transformers.
- Policy changes or incentives related to energy efficiency and modernization of the grid.
