Q. What will be the growth of the oil filled transformer market?
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What will be the growth of the oil filled transformer market?

The oil filled transformer market is estimated at USD 38 billion in 2022 and is likely to grow at a CAGR of 6.79% during 2022-2028 to reach USD 56.36 billion in 2028.

Market Drivers
The growth of the oil filled transformer market is primarily driven by

Development of effective grid systems due to increasing spending on the upgrading of electric infrastructure,
Initiatives to rejuvenate power grids and make them sustainable, resilient, and affordable,
Growing electricity demand.

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Feb, 2023

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