Transformer Oil market size is projected to reach a CAGR of 6.6% from 2022 to 2028.
Transformer Oil also known as insulating oil is an oil which has special properties like stability at higher temperature, and electric insulation which make them perfect for usage in oil-filled transformers, some types of high-voltage capacitors, fluorescent lamp ballasts, and some types of high-voltage switches and circuit breakers where they primarily perform the function of insulation, colling and suppression of corona discharge.
Expansion of the markets in the APAC region along with the adoption and use of smart grids and developments in the electric grids are some of the factors that have supported long-term expansion for Transformer Oil Market.
COVID-19 had a mixed effect on the market, as the prices of crude oil saw a decline reducing the cost of raw material for the industry but there was a sidewise decline of demand from the end user leading to a surged cost for storage.
APAC is the most rapidly growing market and offers a huge opportunity for the industry, whose growth is driven by the surged demand of electricity in the developing nations.
Insights are provided for each region and major countries within the regions
|
Report Feature |
Descriptions |
|---|---|
|
Growth Rate |
CAGR of 6.6% during the forecasting period, 2022-2028 |
|
Historical Data |
2019-2020 |
|
Forecast Years |
2022-2028 |
|
Base Year |
2021 |
|
Units Considered |
Revenue in USD billion and CAGR from 2022 to 2028 |
|
Report Segmentation |
Oil type, application, end user and region. |
|
Report Attribute |
Market Revenue Sizing (Global, Regional and Country Level) Company Share Analysis, Market Dynamics, Company Profiling |
|
Regional Level Scope |
North America, Europe, Asia-Pacific, South America, and Middle East and Africa |
|
Country Level Scope |
U.S., Japan, Germany, U.K., China, India, Brazil, UAE, South Africa (50+ Countries Across the Globe) |
|
Companies Profiled |
BASF SE, Dairen Chemical Corporation, Nynas AB, Ergon Inc., Valvoline, PetroChina Company Ltd, Sinopec Corporation and Cargill Inc. |
|
Available Customization |
In addition to the market data for Transformer Oil Market, Delvens offers client-centric report and customized according to the company’s specific demand and requirement. |
Transformer Oil Market is segmented into oil type, application, end user and region.
.png)
.png)
.png)
.png)
.png)
.png)