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Market Research Report
Product code
1070713
Transformer Oil Market by Type, Function, End-Use, and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030 |
Transformer Oil Market by Type, Function, End-Use, and Application : Global Opportunity Analysis and Industry Forecast, 2021-2030 |
Published: February 22, 2022
Allied Market Research
Content info: 330 Pages
Delivery time: 2-3 business days
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The global transformer oil market size was valued at $2.3 billion in 2020, and is projected to reach $4.3 million by 2030, growing at a CAGR of 6.3% from 2021 to 2030.
Transformer oils are derived from the fractional distillation of crude oil. Transformer oil serves two important functions in a transformer, i.e., suppression of arcing and dissipation of heat generated inside the transformers. Transformer oil is stable at extremely high temperature and shows significant insulating properties. It is used in the functioning of insulation, corona discharge suppression, arcing, and for cooling purpose. It is further used in preserving transformer's core and windings. Level of transformer oil is calculated by using magnetic oil level gauge.
Rise in demand for transformer oil from power generation, transmission, and distribution consumers across the globe is a key factor driving the global transformer oil market trend during the forecast period. In addition, rapid investment toward expansion and upgradation of grid network in developed economies significantly contribute toward the global transformer oil market growth. However, rise in demand for dry type transformers across the globe is expected to hamper the growth of the market, globally during the analyzed timeframe. Conversely, increase in adoption and awareness toward utilization of bio-based transformer oil are expected to create potential growth opportunity for key players operating in this market in the coming years.
The global transformer oil market analysis is segmented into type, function, end-use, application, and region. Depending on type, the market is categorized into naphthenic oil, paraffinic oil, silicone-based oil, bio-based oil, and others. On the basis of function, it is segregated into insulator, cooling agent, lubricant, and chemical stabilizer. Depending on end use, it is classified into small transformer, large transformer, utility transformers, distribution transformers, power transformers, and others. The applications covered in the study include residential, commercial, and industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Type
By Function
By End Use
By Application
By Region