Press release
Transformer Oil Market to reach a value of US$ 8.7 Bn at a robust CAGR of 8% By 2032
Transformer Oil Market
According to Persistence Market Research, the global market for transformer oil is worth US$ 4 Bn in 2022. By 2032, the market is anticipated to reach a value of US$ 8.7 Bn, expanding at a robust CAGR of 8%.
The Transformer Oil Market is an important segment of the global energy market, representing a significant portion of the world's electricity production and distribution. Transformer oil is a type of highly refined mineral oil that acts as an insulating and cooling medium in electric power transformers. Transformer oil has excellent electrical insulation properties, low viscosity, oxidation stability, thermal stability, chemical stability and high flash point. Transformer oil market has seen remarkable growth over the last few decades as electricity demand has grown significantly.
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New Future Study Reports "Transformer Oil Market 2022 Global Strategies, Opportunities, Growth, Dynamics, Competitive Landscape, SWOT Analysis and Forecasts 2032" has been Added on PMR.
Report Summary:
A complete evaluation of Transformer Oil Market is published on PMR. Major forces impacting Transformer Oil Market and their impact on Transformer Oil Market rise are presented in detail in the report. A complete analysis of COVID 19 impact on Transformer Oil Market is offered along with the report. In addition, the influence of natural disaster and political tension on Transformer Oil Market are also presented in the report. Real time and short-term impact, along with major long-term consequences of these forces on Transformer Oil Market is also detailed in the report. The report comprises of segment and regional analysis section. A complete another section is dedicated to the dynamics of key players operating in Transformer Oil Market.
Market Dynamics
The growing political conflicts among different governments across the globe and the rise in mortality rate due to COVID-19 are observed to significantly influence Transformer Oil Market across the analysis period. Other major factors that are observed to influence Transformer Oil Market are described in detail in the report. Changes in the progress pattern of Transformer Oil Market are explained vividly. Sustainable and rational approaches to counter challenges in the market are listed. Other potential threats and growth prospects are mentioned in the report with complete detail.
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Key Players-
• Apar Industries Limited
• Chevron Corporation
• Exxon Mobil Corporation
• Ergon, Inc.
• Gandhar Oil Refinery (India) Limited
• China Petroleum & Chemical Corp (Sinopec Corporation)
• Shell plc.
• Nynas AB
• Savita Oil Technologies Ltd.
• Repsol SA
• Philips 66
• PetroChina Company Limited
• Petro-Canada Lubricants Inc.
• M&I Materials Limited
• Lubrita and more
Transformer Oil Industry Survey Segmentation
By Oil Type:
• Mineral Oil
o Paraffinic
o Naphthenic
• Silicone Oil
• Bio-based Oil
By Application:
• Transformers
• Switchgear
• Reactors
By End-use Industry:
• Transmission & Distribution
• Power Generation
• Railways & Metros
By Region:
• North America
• Latin America
• Europe
• East Asia
• SAPeI
• Middle East & Africa
• India
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Key Takeaways from Market Study
• Between 2022 and 2032, the global market for transformer oil is anticipated to expand rapidly at a CAGR of 8%.
• Key market growth factors are increasing power consumption and major growth in power generation & distribution.
• It is expected that China will continue to be a significant market for transformer oil in the world.
• In terms of oil type, mineral oil is predicted to continue being one of the fastest-growing segment and account for 82.1% market share.
• Transmission and distribution is likely to continue to be a major end-use industry and expand at 8.3% CAGR in terms of value.
"Leading market players are concentrating on strategic growth tactics and acquisitions and are implementing advanced technology for bio-based transformer oil to sustain in the long run," says a Persistence Market Research analyst.
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