Global Transformer Oil Market Report 2022 to 2027: Expansions of the Electric Grid in Emerging Economies Presents Opportunities – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Transformer Oil Market – Global Outlook & Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global transformer oil market is expected to grow at a CAGR of 6.36% during 2022-2027.
Due to the booming construction and infrastructure industry, the electricity demand has increased with the increasing demand for residential housing and the commercial sector over the past few years. Such factors are majorly contributing to the growth of the global transformer oil market.
The global transformer oil market volume is expected to reach 2,584.99 kilotons by 2027. Transformers oil or insulating oil, or dielectric fluid, is an oil that is stable at high temperatures with the best electrical insulating properties. This type of oil is used in wet transformers or oil-filled transformers, some high-voltage switches, circuit breakers, and high-voltage capacitors.
The primary purpose of transformer oils is to insulate and maintain temperature. Therefore, transformer oil must have properties such as dielectric strength, chemical stability, thermal conductivity, and the ability to hold these properties for a longer duration.
Electricity distributors and industrial manufacturers regularly perform maintenance activities to avoid any transformers malfunctioning or interrupting electricity distribution. In addition, the increasing global population and use of various appliances have increased the per capita demand for electricity.
Therefore, the global transformer oil market is expected to increase significantly due to the abovementioned factors. Further, transformer oil market manufacturers have invested much capital in R&D to develop improved products to offer prolonged service life, oil purification, and low environmental impact.
Key Questions Answered
1. What is the revenue from the global transformer oil market?
2. What is the projected market size of the global transformer oil market by 2027?
3. What is the growth rate of the transformer oil market?
4. Which region dominates the global transformer oil market?
5. What are the key driving factors in the transformer oil market?
6. Who are the key players in the global transformer oil market?
Market Dynamics
Opportunities & Trends
- Expansions of the Electric Grid in Emerging Economies
- Increasing Electrification of Railways
Growth Enablers
- Growing Demand for Bio-Based Transformer Oil
- Growing Cross-Border Electricity Trade
Restraints
- Increasing Demand for Dry-Type Transformers
- Fluctuations in Crude Oil Prices
Market Segmentation
by End User
- Transmission & Distribution
- Power Generation
- Railways & Metros
- Others
by Oil Type
- Mineral Oil
- Silicone Oil
- Bio-based Oil
by Geography
- APAC
- China
- India
- Japan
- Indonesia
- South Korea
- Rest of APAC
- North America
- U.S.
- Canada
- Europe
- Germany
- Russia
- Italy
- UK
- France
- Spain
- Rest of Europe
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Middle East & Africa
- Iran
- Saudi Arabia
- South Africa
- Rest of MEA
Key Vendors
- Chevron Corporation
- Dow
- ExxonMobil
- Shell PLC
- TotalEnergies
Other Prominent Vendors
- APAR Industries
- Bharat Petroleum Corporation Limited
- Calumet Specialty Products Partners, L.P.
- Cargill Incorporated
- Castrol Limited
- Engen Petroleum Limited
- Ergon Inc.
- Gandhar Oil
- Gulf Oil India Lubricants Limited
- Hydrodec Group PLC
- Indian Oil Corporation Limited
- Nynas AB
- Petro Canada Lubricants
- PetroChina
- Philips 66
- Repsol
- Sinopec
- Valvoline Inc.
For more information about this report visit https://www.researchandmarkets.com/r/hfsf3g
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