Electrification as a Key Driver for Industrial Competitiveness in Europe
Electrification: The Future of European Industry
A groundbreaking study commissioned by Eurelectric underscores the pivotal role of electrification in revitalizing industrial competitiveness across Europe. The findings suggest that with the right financial backing and strategic initiatives, electrification can significantly diminish the continent's reliance on fossil fuels while unlocking various economic advantages.
As the global economy transitions, industries that lean heavily on fossil fuel imports may expose themselves to increased external volatility and soaring electricity costs. In 2024 alone, European industries faced an eye-watering expense of approximately 350 billion euros due to this reliance, a marked decline from the 600 billion euros recorded in 2022, yet still a challenging burden for any competitive enterprise.
The study presents electrification not merely as a remedy but as a foundational part of a new
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