Power transformers in India – Miracle Electronics Pvt Ltd
India's power transformer sector is experiencing robust growth, driven by escalating electricity demand, urbanization, and government-led infrastructure initiatives. With a market size of USD 1.52 billion in 2023, it is projected to grow at a CAGR of 5.88% through 2029 . Power transformers are pivotal in efficient electricity transmission and distribution, especially with the integration of renewable energy sources. Advancements in smart grid technologies and the need for energy-efficient solutions are further propelling the industry's expansion.