Europe Oil Filled Distribution Transformer Market to surpass the billion-dollar frontier by 2024
Global Market Insights, Inc., that claims Europe oil filled distribution transformer market to be a 1.4-billion-dollar industry by 2024.
Selbyville, United States – June 25, 2019 /MarketersMedia/ —
Europe oil filled distribution transformer market has observed a dramatic surge in the recent years. The chief factors to have propelled the regional industry growth are the regulatory inclinations toward network expansion and the appreciable financial backing to support such projects. Citing a relevant instance – The European Investment Bank in 2017 announced an investment of USD 5 billion for upgradation of distribution networks and renewable energy integration.
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Add to this, in 2016, ENTSO-E in its 10-year network development plan, assigned around 150 billion dollars toward refurbishing T&D networks. As inferred from the industry trends, such investments are projected to be one of the highly implemented strategies in Europe oil filled distribution transformer market.
Not to mention, the investments come on the heels of the sustainability and clean energy trends, of which Europe is a major beneficiary. Speaking of the industry verticals swayed by this carbon-free environment drive, power sector tops the list. The stringent energy efficiency norms across the region have fortified the demand for replacement of existing electric grid with energy efficient systems.
With European sub-continents realizing the crucial role that energy efficient T&D systems play in lowering GHG emissions and climate change mitigation, the demand for oil filled distribution transformer is certain to escalate. In the year 2017, Europe oil filled distribution transformer industry registered a valuation of USD 1,100 million.
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The modernizing of aging electric structure and deployment of new power infrastructure in the economically matured regions such as Germany, Italy, France, and Spain have set the ground lucrative for potential stakeholders to make massive investments in these geographies. Reports, in fact claim that the positive outlook toward energy conservation will be the leading factor stimulating the regional landscape of Europe oil filled distribution transformer industry in the years ahead. Enumerated below is a brief outline of how the regional trends will be faring in the ensuing years.
Massive proliferation of renewable energy in tandem with decentralized generation technologies have magnetized commendable growth avenues for Germany oil filled distribution transformer industry. Reportedly, the ambition goals of energy transformation laid by the Energiewende has made Germany one of the most significant leaders in harnessing renewable energy sources. For the record, Energiewende, Germany’s energy policy aims to integrate renewable energy across 50% of all the electricity supply network and make a shift from coal & nuclear toward green power sources.
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France is another prominent region fueling Europe oil filled distribution transformer market growth, with rapid expansion of smart & microgrid networks. Reports claim that initiatives toward substituting overhead electric lines with underground network and aerial bunched cables is likely to augment product demand. In terms of profitability potential, France oil filled distribution transformer industry is projected to be worth USD 200 million by the year 2024.
Similar scenario is also observed across Italy, where the regional government has laid favorable grounds for the massive proliferation of energy efficient networks. With annual installations anticipated to exceed 20,000 units by 2024, Italy oil immersed distribution transformer market is expected to have a rather considerable impact on the overall Europe oil filled distribution transformer industry share.
ABB’s preeminence in Europe oil filled distribution transformer industry
ABB, being a leading company in the distribution transformer industry, has made significant investments pertaining to its production plants located in Europe. Recently in 2016, the company announced to expand its transformer production facilities both in terms of scope and capacity in Poland. Reports reveal that ABB’s 10,000 sqm manufacturing plant in Lodz produces components for power & distribution transformer. The units manufacture power transformers of up to 300 megavolt amperes with 500 kilovolts voltages and oil filled distribution transformer of range 30 to 2,300 kVA. Following the construction of factories, reports claim that this has been ABB’s third investment in Poland in the recent years.
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Organization: Global Market Insights, Inc.
Website: https://www.gminsights.com/pressrelease/europe-oil-filled-distribution-transformer-market
Source: MarketersMedia
Release ID: 88889201
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