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Electrical Machinery: March 2013

March, 2013

The generation equipment segment of India garnered revenues of US$ 7.6 billion in FY12. The market expanded at a compound annual growth rate (CAGR) of 28.4 per cent over FY08-12. Boilers is the major segment, accounting for 67.9 per cent of the total revenues in FY12. Turbines accounted for 21.3 per cent, while generators accounted for the remaining 10.8 per cent. Exports of electrical machinery increased to US$ 2.4 billion in FY11 from US$ 2 billion in FY08. Transformers and generators were the primary drivers of increase in exports.

Power demand in India is estimated to reach 300,000 megawatt (MW) by 2021. Boiler, turbine and generator (BTG) manufacturing capacity is expected to reach 36 gigawatt (GW) by 2013. The electrical machinery industry has been delicensed by the Government of India. 100 per cent foreign direct investment (FDI) in the sector facilitated the entry of global majors into the electrical machinery industry in India.

Power transmission in India, which is currently carried out largely in the 220 kilovolt (KV) and 400 KV range, is expected to move up to a higher range of 765 KV and high-voltage direct current. This presents a significant opportunity to manufacturers with capabilities in high-voltage to develop technology.

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