The Europe Oil Immersed Power Transformer Market would witness market growth of 5.7% CAGR during the forecast period (2023-2030).
One of the primary drivers of adopting oil-immersed power transformers is the growing demand for electricity. Rapid urbanization, industrialization, and the electrification of diverse sectors, including transportation and digital technologies, contribute to an ever-increasing need for a reliable and resilient power supply. As utilities and power companies strive to meet this escalating demand, deploying oil-immersed transformers becomes integral to enhancing the capacity and efficiency of electricity grids.
Moreover, the role of oil-immersed transformers extends beyond conventional power systems. As various countries embrace renewable energy sources, such as wind and solar, the need for transformers capable of integrating these intermittent energy inputs into the grid becomes paramount. Oil-immersed transformers play a crucial role in adapting power infrastructure to the variable output of renewable sources, ensuring seamless integration and grid stability.
As per Eurostat, the total gross electricity production in 2021 in the EU registered a 4.4 % increase compared with 2020, amounting to 2,907 TWh. In 2021, there was an increase in electricity consumption in many sectors compared with the previous year. In addition, active investments have been made in renewable energy initiatives in the United Kingdom, such as solar and wind power. As per the data from the Government of the United Kingdom, in 2020, energy initiatives comprised 26.4% of the overall industrial investment, or £15 billion, which was invested in energy industries as a whole. Therefore, the growing energy investments and electricity consumption in Europe will drive the demand for these transformers in the region.
The Germany market dominated the Europe Oil Immersed Power Transformer Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,038.4 Million by 2030. The UK market is exhibiting a CAGR of 4.7% during (2023 - 2030). Additionally, The France market would experience a CAGR of 6.5% during (2023 - 2030).
Free Valuable Insights: The Global Oil Immersed Power Transformer Market will Hit $31.5 Billion by 2030, at a CAGR of 6.1%
Based on Phase, the market is segmented into Three, and Single. Based on Installation, the market is segmented into Pad-mounted, Pole-mounted, and Substation Installation. Based on Voltage, the market is segmented into High, Medium, and Low. Based on End User, the market is segmented into Utilities, Industrial, and Residential & Commercial. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Phase
By Installation
By Voltage
By End User
By Country
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