Construction of Third and Fourth Unit of Kudankulam Nuclear Power to Initiate Soon
The development of
nuclear projects would boost the construction of power transmission and
distribution projects, thereby promoting growth of India Power and Distribution Transformers Market
India: The construction work of third and fourth unit
of Kudankulam Nuclear Power plant is set to start soon. The project would be
developed as a joint venture between two countries, Russia and India.
Almost USD21.69 million have been released for the
development of infrastructure project in the neighborhood area of the plant. Moreover,
with the construction of nuclear power plants, the need for the power
transmission and distribution network would also come into picture.
As per TechSci Research the government of India has
increasingly been focusing on clean fuel usage such as nuclear power. Large
number of nuclear power projects in the country have been initiated in a bid to
cater the growing demand for electricity. In order to evacuate power generated
from the nuclear power plants, new power transmission and distribution lines
would be set up in coming years. Since power and distribution transformers are
critical component transmission and distribution lines, the development of new
power transmission and distribution lines would boost the demand for power and
distribution transformers in the country.
According
to released report of TechSci
Research “India
Power & Distribution Transformers Market Forecast & Opportunities, 2020”, the power and distribution transformers
market in India is projected to grow at a CAGR of over 10% till 2020. Power
transformers contribute a major portion in overall market revenues due to their
higher price points. Under the 12thfive year plan (2012-2017),
Indian government allocated US$ 200 billion for strengthening the country’s
power generation, transmission and distribution sector. One of the major developments underway
includes the country’s shift from 765 kV to 1200 kV power transmission.