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ALBANY, N.Y. , June 23, 2022 /PRNewswire/ -- The global silicon transformer oil market is estimated to register growth at a CAGR of 4.2% during the forecast period from 2022 to 2031, notes a study by Transparency Market Research (TMR). The market growth is attributed to many factors including rise in the consumption of electricity across major developed as well as developing nations around the world.
Major silicon transformer oil market manufacturers are executing organic as well as inorganic strategies including the mergers and acquisitions in order to stay ahead of the competition. This aside, several silicon transformer oil manufacturers are focusing on new product launches in order to expand their product portfolios. Moreover, they are focusing on R&D projects in order to develop eco-friendly products. Furthermore, major companies operating in the silicon transformer oil market are focusing on strengthening their market positions by boosting their installation and investment capacities. Owing to such efforts, the global market for silicon transformer oil is prognosticated to be valued at US$ 402.2 Mn by 2031.
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The silicon transformer oil market in North America is estimated to maintain its dominating position during the forecast period. The growth of the North America silicon transformer oil market is ascribed to several factors including the presence of key product consuming nations such as the US in the region.
Silicon Transformer Oil Market: Key Findings
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Silicon Transformer Oil Market: Growth Boosters
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Silicon Transformer Oil Market: Key Players
Some of the key players profiled in the report are:
Silicon Transformer Oil Market Segmentation
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