EIB investing $5.1B in European energy sector
According to a recent report by Global Market Insights on oil-filled distribution transformer market, the European Investment Bank has recently earmarked $5.1 billion for energy sector initiatives, which will be utilized to construct, expand, and revamp power generation projects across the nations such as France, Italy, Ireland, and Spain.
Europe oil-filled distribution transformer industry will be one of the major recipients of these massive investments in the regional energy sector, with the industry value estimated to reach $1.4 billion by 2024, according to the report.
Driven by these investments and by an escalating demand for renewable grid infrastructure and environmentally sustainable T&D networks, the overall Europe oil-filled distribution transformer market share is forecast to surpass an annual installation of 200,000 units by 2024.
Source: Global Market Insights