According to Pioneer reports, the transformer oil market will grow from $2.33 billion in 2017 to $3.65 billion by 2023, at an estimated CAGR of 7.8%. The base year considered for the study is 2017, and the market size is projected from 2018 to 2023.
The transformer oil market has exhibited steady growth over the last few years due to its increasing application in small transformers, large transformers, and utilities in emerging economies such as China and India. National utility companies across the world continue to invest in their power grids in order to meet the increasing demand of end-users.
Transformer oil market top manufacturers are: Nynas AB, Ergon Inc., Petrochina Company Limited, APAR Industries Limited, Calumet Specialty Products Partners, L.P., Sinopec Corporation, Hydrodec Group PLC, Cargill, Engen Petroleum, Valvoline, San Joaquin Refining, Gandhar Oil Refinery India.
Regions covered in this report: North and South America, Europe, China, South Korea and India.
Source: Sierre Leone view