/PRNewswire/ Allied Market Research recently published a report, titled, "Transformer Oil Market by Type (Naphthenic Oil, Paraffinic Oil, Silicone-based.
Rise in power consumption, expansion of power grids in developing countries, increasing investment in the power sector, and growing production of transformers technology have boosted the growth
/PRNewswire/ Allied Market Research recently published a report, titled, "Transformer Oil Market by Type (Naphthenic Oil, Paraffinic Oil, Silicone-based.
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Market Overview
According to Market Research Future (MRFR), the global transformer oil market is expected to expand at a CAGR of 8.29% while procuring the market value of USD 4,002.8 million by 2023.
The growing demand for electricity in rural areas in developing countries is expected to be a significant factor that can boost the transformer oil market 2020. Urbanization and industrialization are other salient causes that can trigger the oil demand and enhance the transformer oil market opportunities. The expansion of the power sector to meet electricity requirements among the growing populace is anticipated to drive the market