Global Transformer Oil Market
Transformer Oil Market Size And Forecast
According to Verified Market Research, the Global Transformer Oil Market was valued at USD 2,556 Million in 2019 and is projected to reach USD 3,630.7 Million by 2027, growing at a CAGR of 4.79% from 2020 to 2027.
Global Transformer Oil Market Overview
APAC is one of the leading regions undergoing far-reaching changes in many ways. Countries, including China, Thailand, the Philippines, Vietnam, India, Japan, and Australia, are witnessing extensive growth in their economies along with industrial development and commercialization owing to which the demand for power in these countries is also increasing. Industrial development has a direct impact on urbanization, which in turn results in increased construction activities in the residential and commercial sector. India has one of the fastest rates of urban development worldwide due to rapid population growth and rising disposable incomes.
Global Transformer Oil Market Competitive Landscape
The Global Transformer Oil Market is highly fragmented with the presence of a large number of players such as Nynas AB, Ergon Inc., Petrochina Company Limited, APAR Industries Limited, Calumet Specialty Products Partners, L.P., Sinopec Corporation, Hydrodec Group PLC, Cargill, Incorporated, etc.
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