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The United States transformer oil market size was valued at USD 482.77 million in 2023. The market is further projected to grow at a CAGR of 6.1% between 2024 and 2032, reaching a value of USD 827.98 million by 2032.
One prominent trend in the transformer oil market in United States is the increasing adoption of ester-based transformer oils as they have higher fire resistance, better oxidation stability, and environmental friendliness compared to traditional mineral-based oils. This shift towards ester-based oils is driven by the growing emphasis on safety, environmental regulations, and the need for more efficient transformer operation. One prominent example is the increasing adoption of ester-based transformer oils by leading transformer manufacturers, such as ABB, Siemens, and General Electric.
Another notable trend is the rising demand for sustainable and bio-based transformer oils in the U.S. market. With increasing environmental awareness and regulations promoting eco-friendly solutions, there is a growing preference for transformer oils derived from renewable sources. A notable example is the development of bio-based transformer oils by companies such as Cargill, which launched its Bio-Therm line of vegetable-based transformer oils, offering advantages such as biodegradability, lower toxicity, and reduced environmental impact.
The United States transformer oil market growth can further be ascribed to technological innovations and smart grid integration. Advanced monitoring systems, IoT-enabled sensors, and predictive maintenance technologies are being integrated into transformer operations to enhance efficiency, reliability, and performance. Smart grid integration allows for real-time monitoring, remote diagnostics, and proactive maintenance, optimising transformer lifespan and reducing downtime. Companies like GridBridge and Survalent Technology have developed advanced monitoring systems.
Moreover, with the increasing demand for electricity, ageing grid infrastructure, and the transition towards renewable energy sources, there is a growing need for modernising the grid and upgrading transformer systems. A significant example is the USD 3.5 billion investment by the U.S. Department of Energy in the ‘Grid Modernisation Initiative.’
United States Transformer Oil Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by End Use
Market Breakup by Region
Market players are focusing on developing biodegradable transformer oils to align with environmental regulations and sustainability goals.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Application |
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Breakup by End Use |
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Breakup by Region |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the market reached an approximate value of USD 482.77 million.
The market is expected to grow at a CAGR of 6.1% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 827.98 million by 2032.
The market is primarily driven by factors such as increasing energy infrastructure development, grid modernisation initiatives, and a growing focus on renewable energy sources.
Key trends aiding the market expansion include the integration of renewable energy sources like wind and solar into the power grid, which necessitates transformers filled with insulating oils for efficient power distribution.
Regions considered in the market are New England, Mideast, Great Lakes, Plains, Southeast, Southwest, Rocky Mountain, and Far West.
Based on end use, the market segmentations include power generation, transmission, and railways and metros, among others.
Mineral oil (paraffinic, naphthenic), silicone-based oil, and bio-based oil are considered in the report.
Key players in the market are Shell Plc, Exxon Mobil Corporation, Chevron Corp., Philips 66 Company, Castrol Limited, Petro-Canada Lubricants LLC, Calumet Specialty Products Partners, L.P., San Joaquin Refining Co. Inc., Ergon, Inc., Cross Oil Refining & Marketing, Inc., and Sunoco Lubricants, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124
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