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The global Transformer Oil Market is predicted to reach USD 4.93 billion with a CAGR of 6.1% till 2030. Transformer oil, also known as insulating oil is stable at high temperatures and possesses excellent properties of electrical insulation.
Overview
The market is witnessing a surge in demand due to the rising demand for transmission and distribution of electricity across industrial, commercial, and residential sectors as transformer oil is used to insulate transformers, capacitors, switches, and circuit breakers.
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The rising demand for dry transformers and environmental concerns associated with the usage of high-density polyethylene during their production and degradation process are expected to restrain the growth of the transformer oil market.
Asia-Pacific held the predominant share of the transformer oil market is expected to continue its dominance during the forecast period.
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North America is expected to show steady growth in the market during the forecast period, due to the presence of a large number of nuclear power plants in countries
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About Next Move Strategy Consulting:
Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider committed to delivering high-quality market research reports. We assist multinational companies in gaining a competitive edge and expanding their industry presence by capturing a larger market share. Our research methodology combines primary research, secondary research, data mining, and data analytics to deliver reliable insights.
Over a decade, we have served over 1,000 global customers, including 90% of Fortune 500 companies. Our analysts constantly monitor high-growth markets and uncover hidden opportunities in various sectors. We offer top-quality syndicate and custom research reports across ten different industry verticals, catering to your unique business needs. Our industry-standard delivery solutions, from pre-consultation to after-sales services, ensure an exceptional client experience and support informed strategic decision-making.
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