About 45 percent of its energy are being produced in the European Union, while the rest of the energy which constitutes about 55 percent is being imported as of 2017.
CRIFAX added a report on ‘Europe Mining Cables Market, 2019-2028’ to its database of market research collaterals consisting of overall market scenario with prevalent and future growth prospects, among other growth strategies used by key players to stay ahead of the game. Additionally, recent trends, mergers and acquisitions, growth analysis along with challenges that are affecting the growth of the market are also stated in the report.
The growth of the Europe Mining Cables market is anticipated to observe a moderate phase, with various efforts initiated by governments across the region by framing energy policies that are encouraging the movement towards alternative and clean energy solutions. The targets of achieving the Sustainable Development Goals adopted by the United Nations (UN) in September, 2015 is pushing the nations in the region to reduce the consumption of fossil fuels and work on producing alternative sources of energy by achieving the targets set by UN by 2030. The consumption of primary energy has increased only by a small percentage to 2050.7 million tonnes per oil equivalent in 2018. The region imports about 55 percent of its energy use as of 2017. About 30 percent of the total EU energy production comes from Renewable Energy, which is the highest share of production as of 2017. As of 2018, 4077.3 TWh of fuel-based electricity was generated as compared to about 4061.8 TWh generated in 2017.
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During the period between 2007 and 2017, Carbon-dioxide (CO2) emissions recorded a growth rate of -1.5 percent and a growth rate of about -1.6 percent was recorded for the year 2018. The region of Europe had contributed to about 12.5 percent of the world’s share of CO2 emissions in the year 2018. Since the past decade, the EU region has witnessed a decline in the coal production. Moreover, a decline in energy emissions by about 1.3 percent was observed in the year 2018. The region has been moving towards adoption of lower-carbon energy sources considering the effects of climate change and environment. Europe has been importing about 53-55 percent of energy for consumption in the past few years. The improvements in energy efficiency including using Renewable Energy sources such as hydro, wind power is predicted to drive the growth of the market over the forecast period.
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To provide better understanding of internal and external marketing factors, the multi-dimensional analytical tools such as SWOT and PESTEL analysis have been implemented in the Europe Mining Cables market . Moreover, the report consists of market segmentation, CAGR (Compound Annual Growth Rate), BPS analysis, Y-o-Y growth (%), Porter’s five force model, absolute $ opportunity and anticipated cost structure of the market.
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