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Transformer market in India to grow at a CAGR of 13.29%


 USA, Florida: Market Research Store has announced a new report “Transformer market in India 2015-2019”, which analyses the distribution transformer and power transformer markets in India.

According to the report, transformer market in India is to grow at a CAGR of 13.29 % over the period 2014-2019, reports Solar Plaza.

One of the major drivers of the market is the increase in production of electricity in India, while one of the major challenges faced by the market is the lack of adequate testing facilities for transformers, which requires transformers to be dispatched to foreign countries for testing, leading to loss of time and an increase in costs for transformer manufacturing vendors.

The key companies covered by the report include ABB Ltd., Alstom SA, Bharat Heavy Electricals Ltd. (BHEL), Crompton Greaves Ltd. and Siemens AG.

Source: Solar Plaza