Transformer Oil Market to reach $3.4B by 2020
USA, Oregon: A new report by Allied Market Research titled “World Transformer Oil Market – Opportunities and Forecasts, 2014-2020” projects the global transformer oil sales to reach $3.4 billion by 2020, with the mineral oil-based transformer oil segment to maintain its dominance until 2020.
According to the study, mineral oil-based transformers segment accounted for more than 90% of the market in 2015 and is expected to maintain this trend until 2020.
LAMEA is anticipated to be the fastest growing regional market with a CAGR of 7.4% during the forecast period.
While bio-oil based transformers segment is expected to register the highest CAGR of 12.4% from 2015 to 2020, in the mineral-oil based transformers market, paraffinic based oil contributed three-fifths share of the market.
Source: PR Newswire