Industry News

Indian Government Plans to Triple Nuclear Power Generation by 2024

    Government is actively looking to acquire Uranium from new sources, which will propel power & distribution transformer market in India.

India: The Government of India (GoI) has set target to achieve nuclear power generation capacity of 15,000 MW by 2024. As on 2017, the generation capacity of India’s nuclear plants cumulates to 4780 MW. The GoI revealed plans in Lok Sabha to speed up the setting up of new plants and unveiled that there is no constrain for raw material (Uranium), which is available in ample quantity, both from domestic as well as international market. As per Ministry sources, it is the first time ever that the Nuclear Power Corporation of India has been allowed to set up joint venture nuclear plants along with Public Sector Undertakings.   

TechSci Research depicts with growth in power generation capacity, the demand for power distribution and transmission surges correspondingly. Transformers play a vital role in power transmission and distribution network. In 2016, India’s total installed capacity of power was 310 GW, and this figure is expected to further increase over the next five years. Increasing number of government policies to promote rural electrification such as Deen Dayal Upadhyaya Gram Jyoti Yojana (DDUGJY), national grid, coal linkages and push for renewable energy are further driving power & distribution transformers demand in India.

According to released report of TechSci Research India Power & Distribution Transformers Market Competition Forecast & Opportunities, 2022” power & distribution transformers market in India is projected to surpass USD3 billion by 2022. Distribution transformers dominated India power & distribution transformers market over the past few years, and this trend is anticipated to continue in the coming years, as well. Growing demand for distribution transformers in India can be attributed to increasing focus of Government of India to provide access to electricity to all rural households of the country.

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United States Solar Energy Solutions Market Segmented By Type (Photovoltaic Cells, Concentrated Solar Power Systems), By Application (Agriculture & Horticulture, Architecture, Transportation & Others), By Region, and By Competition

Power | Feb, 2024

The United States solar energy solutions market is rising due to increasing environmental awareness, declining solar technology costs, and supportive government policies incentivizing renewable energy adoption during the forecast period 2025-2029

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