India Power Transmission and Distribution EPC Market to Worth Over US$ 35.20 Billion By 2035 | Astute Analytica

India’s power transmission and distribution EPC sector is highly mature, characterized by aggressive private participation and advanced HVDC execution. With 6,511 ckm of lines added in 2025 and 4.76 crore smart meters installed, it drives global-scale critical infrastructure independently.

Chicago, Jan. 21, 2026 (GLOBE NEWSWIRE) — The India power transmission and distribution EPC market size was valued at USD 14.68 billion in 2025 and is projected to hit the market valuation of USD 35.20 billion by 2035 at a CAGR of 9.34% during the forecast period 2026–2035.

The India Power Transmission and Distribution EPC market has matured into a globally competitive powerhouse, transitioning from basic electrification to sophisticated, high-tech grid modernization. Ground-level execution capability is at an all-time high, evidenced by the Ministry of Power adding 6,511 ckm of transmission lines in 2025 alone. The sector’s technical depth is visible in its ability to manage extreme complexity; the industry successfully mobilized the Rs 20,773 crore Ladakh-Kaithal HVDC project, demonstrating advanced high-altitude engineering prowess.

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Furthermore, the market structure has evolved from state monopolies to fierce competition, where private majors like Kalpataru Projects maintain robust order books reaching Rs 58,415 crore. Digital maturity is equally strong, with a cumulative 4.76 crore smart meters installed by late 2025 under the RDSS. India is no longer just building a grid; it is deploying a smart, bi-directional energy ecosystem with near-total self-reliance in core EPC competencies.

Key Findings

• By Infrastructure type, Transmission EPC capture over 58.37% market share.
• By Voltage, Extra-High / Ultra-High Voltage  (EHV/UHV) control the highest 46.21% market share.
• By Service Type, Construction & Installation service accounted for nearly 39.27% market share.
• By component, Power Cables & Conductors held around 26.33% share of India power transmission and distribution EPC market.
• By transmission type, Overhead Lines controlled over 81.67% market share.
• By End Users, utilities/public power companies captured 60.70% share of the India market.
• West India is the key contributor to India power transmission and distribution EPC market. It contributed over 31.61% revenue to the market in 2025.

Transmission EPC Captures 58.37% Share Driven by Mega HVDC Corridors

The infrastructure segment’s command of the India power transmission and distribution EPC market is being aggressively consolidated by private sector behemoths executing high-value Tariff-Based Competitive Bidding (TBCB) projects. In the third quarter of FY25 (January 2026), Adani Energy Solutions Limited (AESL) redefined the market landscape by securing the Bhadla-Fatehpur HVDC project, a single mandate valued at ₹25,000 crore. This massive contract propelled AESL’s transmission order book to a record ₹54,761 crore as of January 2025, marking a threefold increase from the fiscal year’s start.

The dominance of this segment is further justified by the sheer scale of capital deployment; AESL alone reported a capex utilization of ₹7,500 crore in the first nine months of FY25. Such high-ticket HVDC projects, essential for evacuating power from Rajasthan’s renewable energy zones to the national grid, ensure that Transmission EPC infrastructure projects remain the largest revenue generator in the sector.

Construction Services Secure 39.27% Share on Robust TBCB Execution

Construction & Installation services maintain their substantial market share because they form the operational backbone of the rapidly expanding National Grid. The dominance of this service segment is best exemplified by Kalpataru Projects International Limited (KPIL), which reported consolidated order inflows exceeding ₹25,475 crore for FY25, with its Power T&D vertical contributing 57% of this volume. The segment’s vitality is driven by the physical complexity of grid densification; KPIL’s domestic T&D order book hit an all-time high of ₹9,500 crore in early FY26, fueled by specialized foundation and erection works for Green Energy Corridors such as green diesel.

Furthermore, the construction intensity is not limited to India; KPIL’s Swedish subsidiary, LMG, achieved its highest-ever order inflow of ₹2,800 crore in FY25, validating that specialized installation expertise is the most critical, non-negotiable service commodity in the India power transmission and distribution EPC market.

Cables and Conductors Hold 26.33% Share Driven by Reconductoring Demand

The Power Cables & Conductors segment commands over a quarter of the market, driven by a strategic pivot toward high-performance materials required for grid modernization and uprating. Sterlite Electric (formerly Sterlite Power) validated this trend by securing orders worth ₹7,500 crore in FY25, with a massive ₹2,400 crore surge in Q4 alone. This dominance is underpinned by the urgent demand for ACCC (Aluminum Conductor Composite Core) and OPGW (Optical Ground Wire) solutions, which allow utilities to transmit more power through existing corridors without acquiring new land.

The “Solutions” business of these manufacturers is expanding rapidly as state utilities prioritize re-conductoring aging lines. Sterlite’s capacity expansion in Vadodara to meet this demand further proves that the material component is not just a commodity but a technology-driven growth engine within the India power transmission and distribution EPC market.

Overhead Lines Maintain 81.67% Share through 765kV Network Expansion

Overhead transmission lines retain an overwhelming market share as they remain the only technologically and financially viable method for the country’s massive 765kV network expansion. Data from the Central Electricity Authority (CEA) confirms that as of January 2025, India’s total transmission network reached 491,871 circuit kilometers (ckm), with the 765kV ultra-high-voltage category alone accounting for 56,333 ckm—entirely consisting of overhead infrastructure.

The dominance of this segment is dictated by the physics of long-distance power transfer; undergrounding is restricted to sub-220kV urban meshes due to high capacitive losses and costs. With the CEA’s National Electricity Plan targeting the addition of over 114,000 ckm by 2027 to integrate renewable zones, the reliance on overhead towers and conductors is absolute, cementing its monopolistic share in the transmission type segmentation of the India power transmission and distribution EPC market.

Synchronized Triple Transition Triggers Massive Capital Expenditure For National Grid Expansion Targets

The India Power Transmission and Distribution EPC market is surging due to a synchronized “Triple Transition” involving generation, consumption, and network shifts. A rapid move to 500 GW non-fossil capacity and industrial consumption growth drives this momentum. Stakeholders finalized the National Electricity Plan (Transmission) in 2024 to expand the network to 6.48 lakh circuit kilometers (ckm) by 2032. To evacuate 280 GW of variable renewable energy, the grid requires 335 GW of Inter-State Transmission System capacity by 2030. The Ministry of Power added 6,511 ckm of new lines in 2025 alone.

Transformation capacity saw a massive boost of 1,00,368 MVA during the 2025 fiscal period. Total investment envisaged in the sector hits Rs 9.15 lakh crore by 2032. Green Energy Corridor Phase-II aims to add 10,750 ckm of lines and 27,500 MVA of substation capacity. The 2025-26 Union Budget allocated Rs 6 billion to accelerate these state-level projects. Such figures confirm the India Power Transmission and Distribution EPC market is poised for exponential growth.

RDSS Outlay Drives Localized EPC Revenue Through Massive Smart Metering Deployment Mandates

The Revamped Distribution Sector Scheme (RDSS) propels the India Power Transmission and Distribution EPC market beyond traditional lines into digital asset installation. A total RDSS outlay of Rs 3.03 lakh crore supports this massive infrastructure shift. As of November 2025, the nation installed a cumulative total of 4.76 crore smart meters. Government bodies have sanctioned 20.33 crore meters for deployment. Bihar leads installation with 82.3 lakh units commissioned as of late 2025, creating immediate revenue streams for implementation partners.

Maharashtra follows closely with 73.9 lakh smart meters installed to upgrade its network. Uttar Pradesh completed 65.0 lakh installations to reduce AT&C losses. Gujarat received sanctions for 1.67 crore units, with 20.9 lakh physically installed by July 2025. To support domestic manufacturing, the Ministry of Power mandated 100% local content for smart meter software effective January 1, 2025. These volumes create a massive localized EPC opportunity.

Long Distance Bulk Transfer Requirements Create High Value Opportunities In Specialized Corridors Across India Power Transmission and Distribution EPC Market

HVDC technology is redefining the market landscape by enabling bulk power transfer over vast distances. The Cabinet approved the massive Ladakh-Kaithal HVDC project with an investment of Rs 20,773 crore. Contractors must construct 713 km of lines, including 480 km of dedicated ±350kV HVDC infrastructure. Two terminals with 5 GW capacity each will rise at Pang and Kaithal. Adani Energy Solutions secured the Khavda Phase IV Part A project to evacuate 6 GW of renewable power.

The Khavda-Bhuj link involves a capital outlay of approximately Rs 25,000 crore. Another win in 2025 was the Rs 1,660 crore HVDC link transmitting 1.5 GW of green power into Mumbai. Such projects minimize losses over long distances. Complex engineering requirements for these corridors drive high-value contracts within the India Power Transmission and Distribution EPC market, favoring technically advanced players.

Record Order Inflows Among Top Players Signal Robust Execution Velocity For Contractors

Intense competition and execution capability characterize the India Power Transmission and Distribution EPC market in 2025. KEC International reported a Year-to-Date order intake exceeding Rs 17,300 crore as of November 2024. Kalpataru Projects International Ltd held an all-time high order book of Rs 58,415 crore in March 2024. They secured new inflows totaling Rs 14,100 crore by November 2024. Adani Energy Solutions doubled its pipeline to Rs 60,000 crore in 2025, reflecting aggressive market capture.

Operational networks for Adani expanded to 26,705 ckm by late 2025. Transformation capacity for the firm reached 97,236 MVA. Power Grid Corporation of India targets a capital expenditure of Rs 28,000 crore for FY26. PGCIL manages projects worth Rs 1,54,680 crore, with Rs 1,14,139 crore as “Work in Hand” in July 2024. Robust order books signal sustained activity in the India Power Transmission and Distribution EPC market.

Regional Integration Pacts Establish Lucrative Cross Border Interconnection Corridors For Export Growth

Regional integration expands the scope of the India Power Transmission and Distribution EPC market into a geopolitical hub. Nepal and India signed a pact in 2024 for 10,000 MW exports over a decade. Approvals in August 2025 added 200 MW, raising capacity to 1,140 MW. Bhutan inaugurated the 1,020 MW Punatsangchhu-II hydro project in November 2025, requiring immediate evacuation. Exports to Bhutan reached USD 96.9 million in November 2025 alone, necessitating robust grid links.

Infrastructure connects the 1,600 MW Godda plant to the grid for Bangladesh supply. A tripartite deal allowed 40 MW exports from Nepal to Bangladesh via India in June 2024. Joint Ventures advanced the 400 kV Inaruwa-Purnea and Lamki-Bareilly lines in late 2025. New regulations streamlined international power exchange. Such links solidify the India’s position in Power Transmission and Distribution EPC market as a critical South Asian asset.

Explosive Data Center Capacity Additions Necessitate High Reliability Urban Substation Infrastructure Upgrades

Digitalization creates a lucrative niche within the India Power Transmission and Distribution EPC market focused on urban reliability. India added 387 MW of Data Center capacity in 2025. Operational IT capacity reached 1,520 MW during the same year. Projections see capacity hitting 2,070 MW by the end of 2025. Investment commitments topped USD 60 billion for the 2019-2024 period, driving dedicated infrastructure spending.

Mumbai dominates with a major share of 475 MW under construction in 2025. Power demand from these facilities grew to 139 billion kWh annually. Developers require specialized 220 kV and 400 kV GIS substations for reliability. High-density urban loads necessitate advanced grid solutions. Consequently, the Power Transmission and Distribution EPC market is pivoting toward hyper-scale park infrastructure.

Storage Integration Requirements Elevate Technical Complexity In Transmission Tenders For Renewable Evacuation

Storage components now define complex tenders in the India Power Transmission and Distribution EPC market to manage grid stability. Planners integrated 12 GWh of Battery Energy Storage Systems (BESS) into the Ladakh HVDC project. The National Electricity Plan targets transmission for 47 GW of BESS and 31 GW of Pumped Storage Plants (PSP) by 2032. Contracts for 3.77 GW of PSPs were awarded in 2024, demanding immediate evacuation planning.

Adani’s Mumbai project links 1.5 GW of pumped hydro storage to the grid. Gujarat and Tamil Nadu prioritize corridors for upcoming offshore wind projects which include storage components. The sector aims to support 600 GW of non-fossil capacity by 2032. Such “Storage + Transmission” projects increase technical complexity. These trends ensure long-term value growth for the market.

Tariff Based Competitive Bidding Pipeline Fuels Aggressive Project Acquisition For Private Developers in India Power Transmission and Distribution EPC Market

Tariff-Based Competitive Bidding drives volume in the market by favoring efficiency. Estimates valued the near-term tendering pipeline at over Rs 90,000 crore in 2024. PGCIL holds Rs 1,05,094 crore of projects under the TBCB mode. Their portfolio also includes Rs 37,010 crore in new Real-Time Market projects. Private players display equal aggression in execution to capture these massive opportunities.

Adani Energy Solutions commissioned 190 ckm of lines in Q1 FY25. Three major projects adding 400 ckm were scheduled for Q4 FY25 commissioning. Central Financial Assistance covers 33% of project costs for Green Energy Corridor Phase-II. Fast-paced tendering cycles favor agile contractors. The market thrives on this transparent bidding environment.

Policy Reforms And Railway Electrification Tenders Remove Bottlenecks To Accelerate Project Delivery

Rail infrastructure and policy reforms bolster the India Power Transmission and Distribution EPC market by smoothing execution hurdles. Tenders for a Rs 62.27 crore substation at Talegaon appeared in 2025. Kerala saw a Rs 269.89 crore package for transmission lines. Smaller tenders included Rs 96.14 lakh for loco sheds and Rs 250 lakh for Purnea substation renovation. Demand supports a 2,342 GVA transformation capacity target for railways.

Revised Right of Way guidelines in 2025 raised land compensation to 200% of base value. New “General Network Access” regulations simplified connectivity, replacing old norms. The CERC Second Amendment Regulations 2024 streamlined cross-border trade. These regulatory steps remove bottlenecks. Ultimately, policy clarity accelerates project delivery in the India Power Transmission and Distribution EPC market.

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India Power Transmission and Distribution EPC Market Major Players:

• Larsen & Toubro Limited
• KEC International Ltd .
• Kalpataru Projects International Ltd.
• Siemens Energy
• ABB Ltd .
• Megha Engineering & Infrastructures Ltd
• General Electric Company
• Techno Electric & Engineering Company Ltd
• Transrail Lighting Limited
• Sterlite Power
• Hyundai Engineering & Construction Co., Ltd.
• Schneider Electric
• Tata Projects Limited
• Other Prominent Players

Market Segmentation:

By Infrastructure Type

• Transmission EPC
• Distribution EPC

By Voltage

• Low / Medium Voltage
• High Voltage (HV)
• Extra-High / Ultra-High Voltage  (EHV/UHV)

By EPC Service Type

• Engineering & Design
• Procurement
• Construction & Installation
• Turnkey / Combined EPC
• Commissioning & Testing

By Component

• Transformers
• Switchgear & Circuit Breakers
• Transmission Towers
• Power Cables & Conductors
• Other Components

 By Transmission Type

• Overhead Lines
• Underground Cables

By End User

• Residential
• Commercial
• Industrial
• Utilities / Public Power Companies

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Astute Analytica
Phone: +1-888 429 6757 (US Toll Free); +91-0120- 4483891 (Rest of the World)
For Sales Enquiries: sales@astuteanalytica.com
Website: https://www.astuteanalytica.com/ 

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