Top Trends to Watch Out for Power Transmission in 2020
The power transmission sector of India has witnesses unprecedented growth in the span of the last five years. At present, the country’s transformer capacity and line length are growing annually at an average growth rate of 9.6% and 6.5% respectively. Moreover, the various policies and schemes launched by the Government of India have improved our operational and financial performances in the past few years. With the recent announcement of Rs 102 lakh crores national infra pipeline and the national aim of becoming a $5 trillion economy by 2025, the coming few years are going to be eventful. According to a recent industry report by Freedonia Group, India is going to witness a rise in the demand for electric power transmission and distribution equipment – a demand rise of 8.2% per annum to ~$15.8 billion in 2023. Here’s a sneak-peak into some of the trends that are going to shape up the coming years. energy storage Marching towards robust energy storage: With the loomi...