I am sure we can agree that after many trials in the last few years, good times have finally arrived in our industry. Factories are full of orders for the next one to two years, restrictions have been lifted practically everywhere, the situation in the supply chain has improved. Investments in power grids worth billions are being announced, and there is a presence of high optimism at fairs and conferences. In short, this is the climate we have been anticipating for years.
Given the very optimistic forecasts relating to the energy transition, a highly essential concern now is how to meet the high demand for transformers and what we can expect in the future. One of the ways is, of course, the expansion of the existing production capacities. I often hear about plans for a 30 % or 50 % capacity expansion, which is quite significant. This seems to be the dominant line of thinking, where the demand for energy equipment is expected to grow to such an extent that the increase in total production capacity would not exceed the market demand and thus would not threaten the business in the future.