transformer market is on track for a significant surge, projected to reach $38.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 7.1%, driven by technological advancements and increasing electricity demand. The growth in renewable energy, particularly in solar and wind power, is significantly boosting demand for 100-500 MVA transformers. Moreover, the Indian government initiatives aimed at grid upgrades and the integration of cutting-edge technology are propelling the power transformer industry forward.
International markets are also contributing to this surge, with Middle Eastern and African governments actively promoting renewable energy, thereby intensifying the need for transformers. Demand is expected to remain strong, supported by new inter-state transmission system (ISTS)-connected power projects and high-voltage direct current (HDVC) projects. To highlight the potential beneficiaries, this piece will focus on the crucial metric of order book strength.
A robust order book signifies confirmed future revenue and strong demand for a company's products. Companies with consistently high order books are likely to be well-positioned for future growth. Voltamp Transformers is a significant manufacturer of oil-filled power and distribution transformers, holding a 15% domestic market share.
The company's comprehensive product portfolio results from technical collaborations with numerous industry pioneers. For fiscal year 2024 (FY24), Voltamp reported a robust order book of ₹18.5 billion, a significant 37% increase compared to the previous year. The company entered FY25 with a strong opening order book of ₹8.4 billion, indicating strong demand for its products and potential growth in the coming year.
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