Demand for electric power transmission and distribution equipment in India is forecast to rise 8.2% per year to $15.8 billion in 2023, the Freedonia Group, a division of MarketResearch.com, has predicted in a recent report on the transmission and distribution sector.
Upgrades and expansion of the nation’s underdeveloped electricity sector – both to reduce the large amount of power currently lost during transmission and to improve access to electricity in rural areas will provide strong opportunities for growth in the country, as consumers switch away from alternative sources of power such as generators.
“India has set goals toward diversifying its energy sources to include renewable options – including solar, wind, and hydropower – which will necessitate the installation of additional transmission capacity,” the report mentioned. Read More
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