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North America Transformer Oil Market Trends

Report ID: GMI7289
Published Date: Nov 2023
Report Format: PDF

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North America Transformer Oil Market Trends

The North America transformer oil industry several notable trends. One significant trend is the growing adoption of eco-friendly and biodegradable transformer oils in response to environmental concerns and regulatory mandates. With an emphasis on sustainability, there's an increasing shift away from traditional mineral oil-based transformer fluids. Additionally, the region's aging power infrastructure is driving demand for transformer oil as maintenance and modernization efforts intensify. As renewable energy sources continue to gain prominence, the market is also influenced by the need for efficient transformers and transformer oils to support their integration into the grid.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of North America transformer oil was worth over USD 600 million in 2022 and is estimated to reach USD 1.2 billion by 2032, due to the aging power infrastructure necessitating the regular maintenance and upgrades of transformers in the region.

The mineral-based product segment in the North America transformer oil market is expected to register over 7% CAGR from 2023 to 2032, due to its excellent dielectric properties to ensure effective insulation and heat dissipation.

U.S. transformer oil industry is set to record over 6.5% CAGR from through 2032, owing to the ongoing expansion and upgrading of the electrical grid and power infrastructure along with the higher replacement of aging transformers.

Some of the influential North America transformer oil market players are APAR, Calumet Specialty Products Partners, L.P., Cargill, Incorporated, CASTROL LIMITED, Clearco Products Co., Inc. All, Dow, HCS Group, Ergon, Inc., Exxon Mobil Corporation, among others.