The India power transmission equipment market size reached USD 11.58 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 21.83 Billion by 2033, exhibiting a growth rate (CAGR) of 6.80% during 2025-2033. The market is driven by rising renewable energy integration, implementation of government initiatives including green energy corridors, and grid modernization efforts. Increasing electricity demand, rapid urbanization, and policies such as "One Nation, One Grid" are expanding the India power transmission equipment market share, supported by investments in smart grid technologies and infrastructure expansion to enhance efficiency and reliability.
Report Attribute
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Key Statistics
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Base Year
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2024
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Forecast Years
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2025-2033
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Historical Years
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2019-2024
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Market Size in 2024 | USD 11.58 Billion |
Market Forecast in 2033 | USD 21.83 Billion |
Market Growth Rate 2025-2033 | 6.80% |
Rising Demand for Renewable Energy Integration
The increasing integration of renewable energy sources, such as solar and wind, into the national grid is majorly driving the India power transmission equipment market growth. The government’s ambitious target of achieving 500 GW of renewable energy capacity by 2030 is accelerating investments in transmission infrastructure. This shift necessitates advanced equipment, including high-voltage direct current (HVDC) systems, flexible alternating current transmission systems (FACTS), and smart grid technologies to ensure efficient power evacuation and grid stability. India's solar power generation, with a capacity of 92.12 GW, and wind generation, with a capacity of 47.72 GW, has successfully achieved 200 GW-plus of renewable capacity, currently representing over 46.3% of the total power generation in the country. The rapid growth of the sector has led to significant demand for critical industrial materials, particularly power transmission equipment that is critical to energy storage and grid infrastructure, with an ambitious target of 500 GW from non-fossil fuel sources by 2030. With increasing demand for renewable energy, the power transmission equipment market in India will witness significant growth to support clean energy progress. Additionally, the development of green energy corridors and dedicated transmission lines for renewable energy is driving demand for transformers, switchgear, and conductors. Private and public players are collaborating to modernize the grid, ensuring seamless power flow from renewable-rich states to high-demand regions. As India continues to prioritize clean energy, the transmission equipment market is expected to witness sustained growth, supported by policy incentives and technological advancements.
Expansion and Modernization of Grid Infrastructure
The ongoing expansion and modernization of grid infrastructure to meet rising electricity demand and improve reliability is creating a positive India power transmission equipment market outlook. A research report from the IMARC Group indicates that the power grids market in India was valued at USD 10.72 Billion in 2024. It is projected to grow to USD 18.52 Billion by 2033, reflecting a compound annual growth rate (CAGR) of 5.8% from 2025 to 2033. The government’s focus on initiatives aims to create a unified national power grid, enhancing efficiency and reducing transmission losses. This has led to increased investments in substations, transmission lines, and digital monitoring systems. Additionally, the adoption of smart grid technologies, including IoT-enabled devices and automated control systems, is improving grid resilience and real-time power management. The rise of urban electrification, along with rural electrification programs, further fuels the demand for robust transmission networks. With growing industrialization and urbanization, the need for reliable and efficient power transmission solutions is expected to drive market growth, attracting both domestic and international equipment manufacturers.
IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2025-2033. Our report has categorized the market based on equipment type, voltage level, and application.
Equipment Type Insights:
The report has provided a detailed breakup and analysis of the market based on the equipment type. This includes transformers, circuit breakers, transmission towers, insulators, conductors and cables, switchgear, and others.
Voltage Level Insights:
A detailed breakup and analysis of the market based on the voltage level have also been provided in the report. This includes high voltage (HV), extra high voltage (EHV), and ultra high voltage (UHV).
Application Insights:
The report has provided a detailed breakup and analysis of the market based on the application. This includes utilities, industrial, commercial, and residential.
Regional Insights:
The report has also provided a comprehensive analysis of all the major regional markets, which include North India, South India, East India, and West India.
The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
Report Features | Details |
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Base Year of the Analysis | 2024 |
Historical Period | 2019-2024 |
Forecast Period | 2025-2033 |
Units | Billion USD |
Scope of the Report |
Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment:
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Equipment Types Covered | Transformers, Circuit Breakers, Transmission Towers, Insulators, Conductors and Cables, Switchgear, Others |
Voltage Levels Covered | High Voltage (HV), Extra High Voltage (EHV), Ultra High Voltage (UHV) |
Applications Covered | Utilities, Industrial, Commercial, Residential |
Regions Covered | North India, South India, East India, West India |
Customization Scope | 10% Free Customization |
Post-Sale Analyst Support | 10-12 Weeks |
Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |