India’s Growing Power Infrastructure Demand Drives Expansion of the Winding Wire Market

India is accelerating the modernization of its power grid and the development of renewable energy and power infrastructure, driving sustained demand for high-voltage transformers and their key component materials. As the energy transition, urbanization, and emerging electricity-intensive sectors such as data centers continue to expand, India’s transformer manufacturing capacity is expected to increase from approximately 110 GVA to 300 GVA by FY2028. This expansion is creating additional growth opportunities for the winding wire market.

Within India’s winding wire market, high-value-added products such as Continuously Transposed Conductors (CTC) are attracting increasing attention. CTC is used in high- and ultra-high-voltage equipment, including 765 kV transformers, HVDC transformers, traction motors, and reactors. According to NDTV Profit, domestic CTC demand in India is projected to increase from approximately 40,000 tonnes in FY2025 to around 100,000 tonnes by 2032.

The outlook is also supported by the broader expansion of specialized winding wire applications. KSH International reported that approximately 75% of its revenue comes from specialized winding wires, mainly serving large power transformers used in transmission and distribution, renewable energy, railways, and data centers. The company also supplies CTC products for high-voltage and HVDC transformer applications.

India’s continued development of power transmission and distribution, railways, renewable energy, data centers, and electric vehicles is expanding the application range of specialized winding wires. KSH International reported that it serves more than 120 domestic and global OEM customers across sectors including power, renewable energy, industrial applications, railways, electric vehicles, and other electrification-related industries.

At the same time, Indian winding wire manufacturers are expanding their international presence. KSH International reported that its products were exported to 24 countries across five continents in FY2026. Export revenue increased by approximately 39.47% year on year and accounted for around 27% of the company’s total revenue.

Indian manufacturers are also expanding production capacity to meet growing demand. KSH International’s installed annual capacity reached 43,445 tonnes as of March 31, 2026. Following the completion of Phase II of its Supa expansion project, the company expects total installed capacity to reach approximately 59,045 tonnes by March 2027.

The expansion of specialized winding wire capacity is taking place across the wider Indian market. An ICICI Securities industry report published in March 2026 estimated that India had approximately 45,000 tonnes of specialized winding wire capacity, primarily CTC and Paper Insulated Copper Conductors (PICC), with the capacity of major producers expected to increase to approximately 77,000 tonnes by FY2028 based on announced expansion plans.

India’s winding wire industry is also moving into emerging applications such as electric vehicles. KSH International stated in its FY2026 annual report that it had entered next-generation EV traction motor technologies through an exclusive license for globally patented extruded PEEK wires. The company is also investing in solar-powered operations and additional manufacturing capacity as part of its broader electrification strategy.

Overall, India’s grid modernization, expansion of transformer manufacturing capacity, and continued growth in renewable energy, electric vehicles, railways, and data centers are contributing to increasing demand for high-performance electromagnetic wires, including specialized winding wires and CTC. At the same time, continued investment in domestic manufacturing capacity and international market expansion is strengthening India’s role in the global winding wire supply chain. The expansion plans and export growth reported by Indian manufacturers indicate that the sector is moving toward greater production scale, higher-value-added products, and broader international market participation.

Sources

• NDTV Profit, “After A 155% Rally In 2026, This Winding Wire Maker Is Valued At Par With Polycab, KEI, R R Kabel. Is It Justified?” — June 19, 2026. The report covers India’s transformer capacity outlook, CTC demand projections, applications, and KSH International’s expansion.

• KSH International, FY2025–26 Annual Report — capacity, exports, customer base, specialized winding wire applications, EV technology, and expansion plans.

• KSH International, FY2026 Earnings Call — installed capacity of 43,445 tonnes, planned capacity of 59,045 tonnes, CTC applications, export markets, and transformer-related demand.

• ICICI Securities, “KSH International – Initiating Coverage,” March 11, 2026 — Indian specialized winding wire capacity and industry expansion estimates.