openPR Logo
Press release

Transformer Oil Market Size to Grow $3.0 Billion by 2030 | Nynas AB, Ergon, Shell, PetroChina, APAR Industries.

02-19-2024 11:51 AM CET | Energy & Environment

Press release from: MarketsandMarkets

Transformer Oil Market Size to Grow $3.0 Billion by 2030 | Nynas

The global Transformer Oil Market size is expected to grow from an estimated USD 2.0 billion in 2023 to USD 3.0 billion by 2030, at a CAGR of 5.9%. Transformer oil is a special kind of oil that is primarily used in transformers to facilitate insulation and cooling. Transformer oil caters to the T&D, railways and metros, power generation, industrial, and commercial end users. The most commonly used transformer oil is mineral oil-based, which includes naphthenic and paraffinic types. The other variants of transformer oil include bio-based and silicone-based transformer oils. The increasing energy demand has pushed developing and developed economies to expand their electric grids and modernize their grid network, respectively. These developments are expected to drive the transformer oil demand.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=967

The transformer oil market segments based on end-user into four segments: transmission and distribution, power generation, railways and metros, and others. The transmission and distribution segment is expected to be the largest segment during the forecast period. Aging transmission and distribution infrastructure demands repair and improvement in various regions. Increasing investments in smart grids coupled with the upgradation and modernization of the new and existing infrastructure will propel the growth of the transmission and distribution segment in the Transformer Oil Market. Railways and metros is expected to be second largest segment during the forecast period. Growing focus on the enhancement of transportation sector along with investment in railways and metros is expected to drive the Transformer Oil Market.

The transformer oil market has been segmented into mineral oil, silicone, and bio-based. Mineral Oil further categorized into inhibited napthanic & parrafinic oil and uninhibited napthanic & parrafinic oil. The mineral oil segment is expected to have the largest market share followed by bio-based oil. It is projected to grow at the highest rate during the forecast period. Mineral oil provides reliable insulation and cooling properties which contributes to the longevity of the transformers. The growth of the mineral oil segment is attributed to its proven performance, cost-effectiveness, and widespread adoption in the industry.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=967

Asia Pacific is expected to be the largest region in the Transformer Oil Industry

Asia Pacific is expected to be the largest Transformer Oil Market during the forecast period. The Asia Pacific region, comprising major economies such as China, India, Japan, South Korea, and Australia, are witnessing significant investments for expanding the number of substations owing to increased demand for electricity driven by the robust growth in industrial and commercial sectors. Electricity shortage is expected to support market grow in Asia Pacific as it can attribute to the increasing demand for power leading to installations of transmission & distribution infrastructure, which in turn increases the demand for the transformer oil.

Some of the major players in the Transformer Oil Companies are Nynas AB (Sweden), Ergon, Inc. (US), PetroChina Company Limited (China), Shell (UK), APAR Industries Limited (India), and Calumet Specialty Products Partners, L.P. (US).

Content Source: https://www.marketsandmarkets.com/PressReleases/transformer-oil.asp

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: newsletter@marketsandmarkets.com

About MarketsandMarkets™:

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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 Size to Grow $3.0 Billion by 2030 | Nynas AB, Ergon, Shell, PetroChina, APAR Industries. here

News-ID: 3389140 • Views:

More Releases from MarketsandMarkets

Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your Revenue
Laser Interferometer Market Set to Grow at the Fastest Rate- Time to Grow your R …
The global laser interferometer market is expected to be valued at 315 million in 2024 and is projected to reach USD 447 million by 2029, at a CAGR of 7.2% from 2024 to 2029. Emerging applications in industries push the market's growth due to the growing demand for precision in the manufacturing sector. However, challenges such as higher initial investments and maintenance costs cause problems. Despite these, opportunities arise for
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to Surpass USD 36.7 billion
With 19.6% CAGR, Battery Testing, Inspection, and Certification Market Growth to …
The battery testing, inspection, and certification market is projected to reach USD 36.7 billion by 2029 from USD 14.9 billion in 2024 at a CAGR of 19.6% during the forecast period. Increasing adoption of EVs and energy storage systems, rising enforcement of stringent standards to ensure battery safety, thriving portable electronics industry, and rapid advances in battery technology are the major factors contributing to the market growth. Download PDF Brochure @
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMarkets
Real-Time Location Systems Revolutionize Healthcare: Insights from MarketsandMar …
The global RTLS market for healthcare is projected to grow from USD 2.3 billion in 2024 to USD 5.7 billion by 2029, at a compound annual growth rate of 19.6% from 2024 to 2029. As it attracts more and more players who enter this market with innovative RTLS features for customers, the market for RTLS technology is rapidly increasing. Top companies in this market focus on healthcare, retail, and manufacturing
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2030 | Leading key players are ABB, Schneider Electric, Eaton, Vertiv
Offsite Data Center Power Infrastructure Market Size to Reach $35.4 billion by 2 …
According to a research report "Offsite Data Center Power Infrastructure Market by Component (Solutions and Services), Vertical (BFSI, Media & Entertainment, Government & Defence, Healthcare, Manufacturing, IT & Telecom, Retail) and Region - Global Forecast to 2030" published by MarketsandMarkets, the market size for global offsite data center power infrastructure market is projected to reach approximately USD 35.4 billion by the year 2030, as compared to the estimated value of

All 5 Releases


More Releases for Transformer

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
Signal Transformer Market Estimated to a Hike in Growth By Signal Type: Audio Tr …
Acumen Research and Consulting has announced the addition of the "Signal Transformer Market” report to their offering. The Signal Transformer Market Report 2018 is an in depth study analyzing the current state of the Signal Transformer Market. It provides brief overview of the market focusing on definitions, market segmentation, end-use applications and industry chain analysis. The study on Signal Transformer Market provides analysis of China market covering the industry trends, recent
Southeast Asia Transformer market :Global Demand Analysis & Opportunity Outlook …
Abstract: The Southeast Asia Transformer market size is $XX million USD in 2018 with XX CAGR from 2014 to 2018, and it is expected to reach $XX million USD by the end of 2024 with a CAGR of XX% from 2019 to 2024. Request For Free Sample@ https://www.kennethresearch.com/sample-request-10071643 This report is an essential reference for who looks for detailed information on Southeast Asia Transformer market. The report covers data on Southeast Asia
Global Transformer Cores Market Forecast 2018-2025 Sanbian Sci-Tech, Wujiang Tra …
Market study on Global Transformer Cores 2018 Research Report presents a professional and complete analysis of Global Transformer Cores Market on the current market situation. Report provides a general overview of the Transformer Cores industry 2018 including definitions, classifications, Transformer Cores market analysis, a wide range of applications and Transformer Cores industry chain structure. The 2018's report on Transformer Cores industry offers the global Transformer Cores development history, development trends
Global Transformer Cores Market Forecast 2018-2025 Sanbian Sci-Tech, Wujiang Tra …
Market study on Global Transformer Cores 2018 Research Report presents a professional and complete analysis of Global Transformer Cores Market on the current market situation. Report provides a general overview of the Transformer Cores industry 2018 including definitions, classifications, Transformer Cores market analysis, a wide range of applications and Transformer Cores industry chain structure. The 2018's report on Transformer Cores industry offers the global Transformer Cores development history, development trends
Transformer Oil Market by Type (Mineral Oil-Based, Silicone Oil-Based, Bio-based …
Transformer oil market sales to reach $3.4 billion by 2020, with the mineral oil-based transformer oil segment to maintain its dominance until 2020. In 2014, the consumption of transformer oils was 1,437.8 million litres across the globe, which is expected to increase at 6.3% from 2015 to 2020. Transformer oils are electrical insulating oils stable at high temperature, which serves two important functions in a transformer, viz., suppression of arcing and