Lucintel Forecasts the Global Transformer Oil Market to Reach $2.6 billion by 2030
Lucintel Forecasts the Global Transformer Oil Market to Reach $2.6 billion by 2030
Blog Article
According to a market report by Lucintel, the future of the global transformer oil market looks promising with opportunities in the transformer, reactor, and switchgear end uses. The global transformer oil market is expected to reach an estimated $2.6 billion by 2030 from $1.9 billion in 2023, at a CAGR of 5.7% from 2024 to 2030. The major drivers for this market are need amplifying the development of the electric grid network across the globe and upgrading electric grid systems and embracing smart grid technology in advanced economies.
A more than 150-page report to understand trends, opportunity and forecast in transformer oil market to 2030 by oil type (mineral oil, silicone oil, and bio-based oil), application (transformer, reactor, and switchgear), end use (transmission and distribution, railways & metros, power generation, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
Lucintel forecasts that mineral oil will remain the largest segment over the forecast period due to balance of performance, cost, and availability.
Within this market, transformer is expected to witness the higher growth due to escalating energy requirements and aging transformer infrastructure.
Download sample by clicking on transformer oil market
APAC is expected to witness highest growth over the forecast period due to elevating the need for transformer oil.
Nynas, Ergon, Shell, Calumet Specialty Products Partners, APAR Industries, PetroChina Company, Exxon Mobil, Repsol, Sinopec Lubricant, Savita Oil Technologies are the major suppliers in the transformer oil market.
This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com To get access of more than 1000 reports at fraction of cost visit Lucintel's Analytics Dashboard.
About Lucintel
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. +1-972-636-5056
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