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In 2023, the Transformer Oil Market size was estimated at 5.44 billion liters. The report covers the Transformer Oil Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Transformer Oil Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
The average price of crude oil was USD 52.32 per barrel in 2015 and reached USD 100.08 per barrel in 2022 with a major slump of USD 41.69 per barrel witnessed in 2020 owing to trade restrictions imposed during the COVID-19 pandemic.
14 paź 2024 · KEY MARKET INSIGHTS. Listen to Audio Version. The global transformer oil market size was valued at USD 2.97 billion in 2022 and is expected to grow from USD 3.15 billion in 2023 to USD 4.88 billion by 2030 at a CAGR of 6.4% during the forecast period. Asia Pacific dominated the transformer oil market with a market share of 49.83% in 2022.
The global transformer oil market in terms of revenue was estimated to be worth USD 2.0 billion in 2023 and is poised to reach USD 3.0 billion by 2030, growing at a CAGR of 5.9% from 2023 to 2030.
Transformer Oil Market is set to hit worth US$ 9,243.2 million at CAGR of 7.9% from forecast period 2023 to 2033 | Data analysis by Future Market Insights, Inc.
16 sty 2024 · New York, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Enabling the incorporation of renewable energy sources like wind and solar into the power grid necessitates transformers for efficient electricity...
Methodology. Transformer Oil Market Size 2024-2028. The Transformer Oil Market size is estimated to grow by USD 1.13 billion at a Compound annual growth rate (CAGR) of 8.09% between 2023 and 2028. The market for transformer oils is propelled by the expansion of transmission and distribution networks, mandating their usage.