Transformer Oil Market Worth $3.0 Billion by 2025

Posted on 2020-04-21 by MarketsandMarkets in Energy // 0 Comments

According to the new market research “Transformer Oil Market by Type (Mineral Oil, Silicone, and Bio-based), Application (Transformer, Switchgear, and Reactor), End-user (Transmission and Distribution, Power Generation, Railways & Metros, and Others), and Region – Global Forecast to 2025″ The global Transformer Oil Market is projected to reach USD 3.0 billion by 2025 from an estimated market size of USD 2.2 billion in 2020, at a CAGR of 6.9% during the forecast period. The factors driving the growth for transformer oil are the upgradation of electric grids in developing countries along with the expansion of electric grids due to growing industrialization and urbanization.

The transmission and distribution segment is expected to be the most significant Transformer Oil Market, by end-user, during the forecast period

The transmission and distribution segment is projected to be the most significant Transformer Oil Market, by end-user, during the forecast period. It has the largest share of the Transformer Oil Market owing to the global growth in the production and consumption of electricity. Transmission and distribution utilities own and operate the transmission and distribution system. Thus, growing demand for power will necessitate the expansion of the transmission and distribution network, thereby enhancing the demand for electrical components, such as transformers, reactors, and switchgears, leading to an increase in the demand for transformer oil.

Browse in-depth TOC on “Transformer Oil Market”

137 – Tables

42 – Figures

157 – Pages

Download PDF Brochure:

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

The mineral oil segment is expected to be the largest Transformer Oil Market, by type, during the forecast period

The mineral oil segment is expected to grow at the highest rate during the forecast period. Mineral oil is mainly used for cooling and insulation purposes in transformers, reactors, and switchgears. It is also used for heat dispersion and to protect the transformer’s internal windings. Mineral oil is further segmented into naphthenic and paraffinic oil, and a majority of the existing and new transformers manufactured use mineral oil as the cooling fluid. The demand for mineral oil is expected to grow during the forecast period because of its easy availability and low cost compared to other transformer oils.

APAC is expected to dominate the global Transformer Oil Market during the forecast period.

In this report, the Transformer Oil Market has been analyzed for 4 regions, namely APAC, North America, Europe, and RoW. APAC is expected to lead the market during the forecast period.

The rapid increase in the demand for electricity and an increase in the power generation capacity in developing countries such as India and China, along with the growth in industrial and commercial sectors, will lead to an increase in the number of substations. Growth in the number of substations will propel the demand for transformers, which will enhance the demand for transformer oil in APAC.

Speak to Analyst:

https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=967

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Transformer Oil Market. These include Nynas AB (Sweden), Ergon International (Belgium), Petrochina Company Limited (China), Apar Industries (India), and Sinopec Lubricant (China). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Matched content

Editor’s pick