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Europe Dry-Type Transformer Market Forecast 2021-2028

The Europe dry-type transformer market is evaluated to record a CAGR of 6.49%, during the forecast period of 2021 to 2028. Economic reforms by the government and the growing need for reliable distribution systems are attributed to the region's market growth.

The Europe dry-type transformer market growth is assessed by analyzing the United Kingdom, Italy, Russia, France, Germany, Poland, Belgium, and the rest of Europe. Over the last decade, Belgium's share of renewables, in its final energy consumption, has been growing steadily. As a result, the country is projected to meet its 2020 objective of 13%. The country's electricity from renewable sources is mainly encouraged through a quota system, based on certificates trade. Moreover, Belgium's renewable energy is decentralized, with only hydropower and offshore wind power governed by federal regulations. The central grid operators are expected to fulfill public obligations, including purchasing green certificates at subsidized prices for specific renewable electricity generation technologies. For instance, in Brussels, the capital of Belgium, electricity production from renewable energy sources is extensively promoted through the federal system of green certificates. Additionally, regional support schemes, like net-metering and investment assistance for enterprises, also facilitate it.
On the other hand, Poland is rapidly progressing in the provision of electricity, across the country. Moreover, the rapid economic growth has enabled the nation to re-industrialize, and align the Polish energy sector with the European Union's stringent environmental regulations. Thus, such factors are influential in augmenting the dry-transformer market growth,

Key enterprises operating in the market are, Hanley Energy GCC, ABB Ltd, Siemens AG, Schneider Electric SE, etc.

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Europe Dry-Type Transformer Market Forecast 2021-2028
Published By :Inkwood Research
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