The Indian Government has announced to build up more than 100 smart cities in India. With the project and planning in process since the past 2 years, India is soon to experience a new experience of being ‘smart’. So, what exactly makes a smart city? It is a combination of hygiene, health and education, information and communication technology, adequate water supply, efficient public transport, affordable housing, safety and security, and uninterrupted power supply.
Every industry is contributing its best to participate in the making of smart cities with their products and solutions. One of these is the power sector. A smart city is said to have uninterrupted power supply, meaning that the power sector will have to work efficiently to fulfill the demands of continuous power within the city to its citizens. Transformers play a very important role in the power sector to deliver reliable power supply. Therefore, there are great opportunities for the transformer industry with the development of smart cities. Big names like Miracle Electronics are therefore providing smart solutions for smart cities through their best quality power transformers in India. Miracle Electronics’ transformers are well-positioned to cater to products and solutions for the technology value chain.
Anil Kadam, Senior Manager of Energy Business at Schneider Electric India, also confirms the growth of this industry by saying, “With India announcing plans to develop 100-smart cities in the future, the transformer industry is upbeat as it will create additional demand for power equipment and different kinds of transformers. Smart cities will require smart energy, smart buildings and energy efficient building designs. To keep these systems running, ensuring a sustainable power supply is of prime importance.”
The Government has taken initiatives like the DDUGJY scheme to improve rural household electrification and electricity infrastructure. The Government’s attempt of attaining 100% electrification across the country soon will add to the demand for power transformers. It is the power generation and transmission system programme that defines the well-being of the transformer industry. The industry has been developed for more than 50 years now with well-developed technology foundation. It has been surveyed that power transformers contribute around 45% of the total market share of the transformer industry. And, within the next 4 to 5 years, the transformer industry expects to see strong growth in India and increase market competitiveness.
In India, the demand for equipment in the power sector has been multiplying at a rapid rate for a while now due to social, economic and industrial development. And, to boost up the value of the transformer industry, strengthening existing roads, rail networks, metros and other infrastructure projects across the country is vital. With these initiatives, there is a possibility that the demand of transformers may double in the coming years. Therefore, the transformer industry will have many opportunities out of the smart city initiative that will give the segment a better stand. Today, the transformer manufacturers have a combined order book of 2,50,000 MVA, which is expected to double over the next 2-3 years. This is why Indian transformer manufacturers are becoming more competitive in terms of their product designs, qualities and manufacturing processes.