Deerfield Beach, FL -- (SBWIRE) -- 09/04/2015 -- Transformer Market in India to grow at a CAGR of 13.29% over the period 2014-2019. Our analyst researched the following companies as the key players in the Transformer Market in India: ABB Ltd., Alstom SA, Bharat Heavy Electricals Ltd. (BHEL), Crompton Greaves Ltd. and Siemens AG.
Other Prominent Vendors in the market are: EMCO, Bharat Bijlee, IMP Powers, Kirloskar Electric Company, Prolec GE International S de RL de CV, Transformers & Rectifiers (India), Vijai Electricals and Voltamp Transformers.
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Commenting on the report, an our analyst said: "One of the major trends in the market is the increased capacity in power generation. As per the 12th Five-year Plan and the 13th Five-year Plan, it is estimated that the power generation capacity will target the achievement of 88.6 GW and 100 GW of power, respectively."
According to the report, one of the major drivers of the market is the increase in production of electricity in India. Increased production of electricity requires the use of power transformers and distribution transformers for supplying electricity from generators to end-users. This has led to growing demand for transformers in India.
Further, the report states that 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. In addition, non-availability of funds has led to the lack of establishment of testing facilities in India.
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The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Other Prominent Vendors:
Kirloskar Electric Company
Prolec GE International S de RL de CV
Transformers & Rectifiers (India)