Transformer Industry in India Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Report Covers Transformer Manufacturers in India and the Market is Segmented by Power Rating (Small, Medium, and Large), Cooling Type (Air-Cooled and Oil-Cooled), and Transformer Type (Power Transformer and Distribution Transformer). The market size and forecasts are provided in terms of revenue (USD billion) for all the above segments.

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Transformer Industry in India Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

India Transformer Market Size

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India Transformer Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
CAGR 5.00 %
Market Concentration Low

Major Players

India Transformer Market Major Players

*Disclaimer: Major Players sorted in no particular order

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India Transformer Market Analysis

The India Transformer Market is expected to register a CAGR of greater than 5% during the forecast period.

  • Factors such as increasing energy demands from the industries and expansion of transmission and distribution systems are likely going to drive the Indian transformer market. Also, several favorable government policies in India made to the increasing energy demand are likely going to drive the Indian transformer market.
  • However, delay in the implementation of the projects due to lengthy government procedures is expected to restrain the Indian transformer market.
  • A smart grid is seen as a highly efficient and economical technology that can reduce carbon emissions. Such up-gradation for now existing networks in the region can create several opportunities for the Indian transformer market in the future.

India Transformer Industry Overview

The India transformer market is fragmented. Some of the key players in this market (in no particular order) include Siemens AG, ABB Ltd., General Electric Company, Mitsubishi Electric Corporation, and CG Power and Industrial Solutions Ltd.

India Transformer Market Leaders

  1. Siemens AG

  2. ABB Ltd.

  3. General Electric Company

  4. Mitsubishi Electric Corporation

  5. CG Power and Industrial Solutions Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
India Transformer Market Concentration
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India Transformer Market News

  • January 2023: CG Power and Industrial Solutions Limited announced its plan to expand the manufacturing capacity of its power and distribution transformer units.
  • October 2022: Hitachi Energy India acquired a contract from NTPC Renewable Energy to supply power transformers for a 4.75 GW renewable energy park in Gujarat, which is part of India's largest solar park.

India Transformer Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Market Size and Demand Forecast in USD billion, till 2027
  • 4.3 Recent Trends and Developments
  • 4.4 Government Policies and Regulations
  • 4.5 Market Dynamics
    • 4.5.1 Drivers
    • 4.5.2 Restraints
  • 4.6 Supply Chain Analysis
  • 4.7 PESTLE Analysis

5. MARKET SEGMENTATION

  • 5.1 Power Rating
    • 5.1.1 Small
    • 5.1.2 Large
    • 5.1.3 Medium
  • 5.2 Cooling Type
    • 5.2.1 Air-Cooled
    • 5.2.2 Oil-Cooled
  • 5.3 Transformer Type
    • 5.3.1 Power Transformer
    • 5.3.2 Distribution Transformer

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers, Acquisitions, Collaboration and Joint Ventures
  • 6.2 Strategies Adopted by Key Players
  • 6.3 Company Profiles
    • 6.3.1 Siemens AG
    • 6.3.2 ABB Ltd.
    • 6.3.3 General Electric Company
    • 6.3.4 Mitsubishi Electric Corporation
    • 6.3.5 Schneider Electric SE
    • 6.3.6 Panasonic Corporation
    • 6.3.7 Hitachi, Ltd.
    • 6.3.8 JiangSu HuaPeng Transformer Co., Ltd.
    • 6.3.9 Baoding Tianwei Baobian Electric Co., Ltd.
    • 6.3.10 Toshiba Corp
    • 6.3.11 CG Power and Industrial Solutions Ltd
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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India Transformer Industry Segmentation

A transformer is an electrical device that transfers energy from one electric circuit to another using the electromagnetic induction principle. It is intended to change the AC voltage between the circuits while keeping the current's frequency constant. The India transformer market is segmented by power rating, cooling type, and transformer type. By power rating, the market is segmented into small, medium, and large. By cooling type, the market is segmented into air-cooled and oil-cooled. By transformer type, the market is segmented into power transformers and distribution transformers. The report also covers the market size and forecasts for the transformer market. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).

Power Rating Small
Large
Medium
Cooling Type Air-Cooled
Oil-Cooled
Transformer Type Power Transformer
Distribution Transformer
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India Transformer Market Research FAQs

What is the current India Transformer Market size?

The India Transformer Market is projected to register a CAGR of greater than 5% during the forecast period (2025-2030)

Who are the key players in India Transformer Market?

Siemens AG, ABB Ltd., General Electric Company, Mitsubishi Electric Corporation and CG Power and Industrial Solutions Ltd. are the major companies operating in the India Transformer Market.

What years does this India Transformer Market cover?

The report covers the India Transformer Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the India Transformer Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Transformer in India Industry Report

Statistics for the 2025 India Transformer market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Transformer analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.