openPR Logo
Press release

Transformer Oil Market: Everything You Need To Know !!

04-11-2023 12:04 PM CET | Energy & Environment

Press release from: Allied Analytics LLP

Transformer Oil Industry Statistics

The transformer oil market size was valued at $2.3 billion in 2020, and is projected to reach $4.3 Billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030.

The key players operating and profiled in the report include Neste, Petronas, Sinopec Lubricant Company, Royal Dutch Shell, Exxon Mobil Corporation, Total SE, Chevron Corporation, Exxon Mobil, Repsol, and Gulf Oil International.

Other players operating in the market are Lubrita, Phillips 66 Company, Dow, Cargill Incorporated, Hydrodec Group Plc., Calumet Specialty Products Partners, L.P., Sasol, Hyrax Oil Sdn Bhd., and San Joaquin Refining Co.

Download Report Sample: https://www.alliedmarketresearch.com/request-sample/750

Rise in power consumption, increase in investment in the power sector, and expansion of electrical grids in developing countries are the major factors driving the growth of the global transformer oil market.

Transformer oil, also known as insulating oil, is an oil used in oil-filled transformers, which exhibits electrical insulating property. It has other properties such as superior oxidation stability, superior thermal conductivity, and enhanced stability at high temperatures.

It effectively prevents the formation of acidic materials and sludge as well as facilitates effective cooling of the transformer core. The electrical properties include dielectric strength, specific resistance, and dielectric dissipation.

Rapid industrialization and modernization in the electrical grids supplement the demand for power transformer, which, in turn, is expected to increase the consumption of transformer oil.

Presence of the high-power consuming countries such as China, Japan, and India are anticipated to contribute toward the growth of the transformer oil market share in the region.

Increase in adoption of dry transformers and volatility in raw material prices impede the market growth.

On the contrary, R&D toward development of sustainable and recyclable transformer oil products such as bio-based oil is projected to create opportunity for key players operating in the market.

Asia-Pacific garnered the dominant share in 2020, and anticipated to maintain this trend during the forecast period. This is attributed to numerous factors such as presence of huge consumer base, rapid expansion of the energy sector, high-voltage direct current (HVDC) systems, and the existence of key players in the region.

Buy This Report (330 Pages PDF with Insights, Charts, Tables, and Figures): https://bit.ly/3xYAnGl

On the basis of end use, the power transformer segment held the largest share in 2020, in terms of revenue, and is expected to maintain its dominance during the forecast period.

This growth is attributed to rapid expansion of heavy industries & projects such as dams, power plants, power grids, refineries, and mills, which further increases the installation of power transformers in these applications.

On the basis of application, the industrial segment garnered the largest share in 2020, in terms of revenue, and is expected to grow at a CAGR of 6.1%, owing to rise in installation of standalone power generation systems in industrial applications attributable to varying loads and power demand in industrial applications.

Rapid growth of industries such as building & construction, chemicals, oil & gas, and railways resulted in rise in demand for transformers, which, in turn, is expected to drive the growth of the market during the forecast period.

COVID-19 impact

Lockdown imposed due to the outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries and electrical utilities, which decreased the demand for transformer oil from these consumers.

Read More Information: https://www.alliedmarketresearch.com/transformer-oil-market

The transformer oil market trend is expected to recover by the second quarter of 2021, as COVID-19 vaccination has begun in various economies across the globe, which is expected to improve the global economy.

David Correa5933 NE Win Sivers Drive#205, Portland, OR 97220United StatesUSA/Canada (Toll Free):+1-800-792-5285, +1-503-894-6022UK: +44-845-528-1300Hong Kong: +852-301-84916India (Pune): +91-20-66346060Fax: +1(855)550-5975help@alliedmarketresearch.com

Web: www.alliedmarketresearch.com

Allied Market Research Blog:

https://blog.alliedmarketresearch.com

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Transformer Oil Market: Everything You Need To Know !! here

News-ID: 3007486 • Views:

More Releases from Allied Analytics LLP

Heat Meters Market Set to Grow with Rising Demand for Energy Efficiency
Heat Meters Market Set to Grow with Rising Demand for Energy Efficiency
According to a new report published by Allied Market Research, the heat meters market size was valued at $1.6 billion in 2022, and is estimated to reach $2.7 billion by 2032, growing at a CAGR of 5.4% from 2023 to 2032. A heat meter is a device used to measure and quantify the amount of thermal energy (heat) transferred from a heat source to a system or consumer. It accurately measures
Heat Pump Market Set for Strong Growth Through 2032
Heat Pump Market Set for Strong Growth Through 2032
According to a new report published by Allied Market Research, the heat pump market size was valued at $71.2 billion in 2022, and is estimated to reach $201.5 billion by 2032, growing at a CAGR of 11.1% from 2023 to 2032. A heat pump is a versatile and efficient device that transfers heat from one location to another using a refrigeration cycle. It operates by absorbing heat from a low-temperature source
Energy Efficient Lighting Market Shines Bright with Strong Growth Outlook
Energy Efficient Lighting Market Shines Bright with Strong Growth Outlook
According to a new report published by Allied Market Research, the global energy efficient lighting market was valued at $46.2 billion in 2021 and is projected to reach $93.3 billion by 2030, growing at a robust CAGR of 8.1% from 2022 to 2030. This surge reflects a powerful global movement toward greener, smarter, and more cost-effective lighting technologies. Energy efficient lighting refers to lighting systems and products that use less electricity
The Future of Energy: How Fuel Cells Are Reshaping Power Generation
The Future of Energy: How Fuel Cells Are Reshaping Power Generation
According to a new report published by Allied Market Research, titled, "Fuel Cell Market," The fuel cell market size was valued at $3.6 billion in 2020, and is estimated to reach $32.0 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030. The fuel cell market has emerged as a transformative force in the global energy landscape, offering a clean, efficient, and sustainable alternative to conventional energy sources.

All 5 Releases


More Releases for Oil

Hydraulic Oil Market,By Base Oil (Mineral Oil, Synthetic Oil, Semi-Synthetic Oil …
In recent years, the production capacity for hydraulic oil has increased significantly across the globe. Moreover, the Group II and III base oils are primarily gaining popularity for utilization in lubricant formulations for automatic transmission engines, heavy-duty trucks, and passenger automobiles. Therefore, these determinants are expected to for drive the development of the global hydraulic oil market in the anticipated period. Global Hydraulic Oil Market was valued at USD 10.47 billion in 2021
Cosmetic Oil Market Future Outlook 2023-2029, Industry Demand, Trends, Size, New …
This Cosmetic Oil Market research report is one of the best and wide-ranging, which provides market insights by considering numerous factors. Therefore, businesses can get important market insights cost-effectively with the help of the Cosmetic Oil Market research report. Such a persuasive report is the best to gain a competitive advantage in this quickly transforming marketplace. In addition, the report also provides market segmentation based on type and end-user. The
Transformer Oil Market, Transformer Oil Market Size, Transformer Oil Market Shar …
The Transformer Oil Market research report consists of a detailed study of the market and the market dynamics that are related to the same. The in-depth data on the development of the market is presented in the Research report. Not only this but also the detailed data on the performance of the market for the forecast period are presented in the Transformer Oil Market research report. The performance analysis is
Growing demand for corn oil as cooking oil is fuelling the Corn Oil Market
The research report "Corn Oil Market: by Product Type (High Oleic, Middle Oleic, Low Oleic), By Application (Biodiesel, Soap Making, Food Services, Pharmaceutical, Others) and Geography- Global/Region/Country Forecast to 2028." The global corn oil market size was valued at USD 4.2 Bn in the year 2021, growing at a CAGR rate of 7.2% during the evaluation time span 2022-2028. Glance our 200 slides market research and competitive intelligence research report,
Apricot Oil, Apricot Kernel Oil Supplier, Co2 Apricot Oil Manufacturer
The seed inside every apricot contains thin oil, which is extracted from the kernel of the seed after eating the delectable fruit. Apricot oil is also known as apricot kernel oil. This oil has been the interest of many experts for research purposes due to its infinite health benefits. It has been found that the oil could cure some serious health conditions (like cancer). Apricot oil has a profound nutty
Global Sustainable Palm Oil Market analysis report- with Leading players, Applic …
Sustainable Palm Oil Market The most widely used vegetable oil there is, palm oil is found in everything from snacks to household cleaners to cosmetics. Palm oil is used in many of the products on supermarket shelves, from margarine and chocolate to ice cream, soaps, cosmetics, and fuel for cars and power plants. The report presents a comprehensive overview, market shares, and growth opportunities of Sustainable Palm Oil market by product type,