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Experts describe long and lengthening lead times for power transformers, with steel and component shortages and too few suppliers pushing up costs ¹². One expert puts on-the-ground lead times for 765kV transformers at 24 to 36 months, reaching 60 months in extreme cases, and says India's PGCIL has seen high-capacity transformer deliveries stretch to 20 to 24 months ¹. The same expert points to severe bottlenecks in high-voltage bushings and on-load tap changers, and to a CRGO steel shortage reported at 30% that has driven up prices, hitting smaller manufacturers ¹. Another says delivery of transformers and switchgear has stretched from 6 to 9 months to 12 to 18 months or more, with volatile prices and too few suppliers ². A third says transformer and gas turbine lead times now run as long as four years ³.