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Bio-based Transformer Oil Market Segmentation by Type (Jatropha Oil, Karanja Oil, and Others); and by Application (Power Transformer, Distribution Transformer, and Others) – Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Biobased Transformer Oil Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Bio-based Transformer Oil Market Highlights 2019-2028

The global bio-based transformer oil market attained revenue of USD 132.2 Million in 2019 and is estimated to garner USD 220.7 Million in 2028 by growing at a CAGR of 5.9% over the forecast period i.e., 2020-2028. The market is anticipated to grow on account of the rising demand for transformers backed by the increasing demand for electricity worldwide. Bio-based transformer oil is the oil filled with the dielectric insulating fluid in transformers. The oil is resistant to heat and electricity and is made from vegetable oil feedstock. It is a replacement for mineral-oil-based products, is environmentally friendly and provides excellent performance.

Bio-based Transformer Oil Market Graph

Globally, the demand for electricity is significantly increasing on the back of the increasing need amongst the end users for water supply, air conditioning, and others. According to the statistics by the International Energy Agency (IEA), the total electricity consumption around the world in the year 2018 reached 22315 TWh, which was an increase by 4% than the previous year. The key players manufacturing transformer oil are focusing on the development of new bio-based products. As a result, the investment has also increased over the years to boost the production process of the bio-based oil. CLICK TO DOWNLOAD SAMPLE REPORT

Global Bio-based Transformer Oil Market Regional Synopsis

Regionally, the global bio-based transformer oil market is segmented into five major regions including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa. Among the markets in these regions, the Europe bio-based transformer oil market is projected to grow with the highest CAGR of 7.4% throughout the forecast period and further attain a revenue of USD 51366.7 Million in 2028, up from USD 27702.2 Million in 2019. Rising investment in the modernization of the aging infrastructure is one of the major factors expected to drive the market growth in the region. Further, amongst the countries in the region, the market in Germany is anticipated to hold a significant market share of 22.7% by the end of 2028. Alternatively, the market in North America is expected to hold the largest market share of 53.73% by the end of 2028. The market in the region can be attributed to the growing need amongst the government to shift to greener alternatives, backed by the rising concern for the environment. In the United States, many utility companies are using bio-based transformer oils in their transformers to support sustainability goals.

Bio-based Transformer Oil Market Share Image

Growth Drivers and Challenges Impacting the Growth of the Global Bio-based Transformer Oil Market

Growth Drivers

  • Increasing Modernization in the Manufacturing of Transformers
  • Increasing Demand for Clean Energy

Challenges

  • Availability of Inexpensive Substitutes
  • High Cost of the Oil

Global Bio-based Transformer Oil Market Segmentation Synopsis

The global bio-based transformer oil market is segmented by type into jatropha oil, karanja oil, and others. Amongst these segments, the jatropha oil segment is anticipated to hold a significant market share in the coming years. Jatropha oil is derived from the species Jatropha curcas and is also used widely for manufacturing biodiesel. The seeds of the plant contain around 27-40% oil and the plants are resistant to drought and pests. The karanja oil segment, on the other hand, is anticipated to hold the second leading stance and further attain a market revenue of USD 55,948.1 Million by the end of 2028. The market is further segmented by application into power transformer, distribution transformer, others. Amongst these, the distribution transformer segment is anticipated to hold the largest share throughout the forecast period, backed by the need to replace the aging power line distribution systems.

Key Players Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global bio-based transformer oil market that are included in our report are Cargill, Incorporated, M&I Materials Ltd, Savita Oil Technologies Limited, Nynas AB, ABB Ltd. and others.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.
  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.
  • The report includes detailed company profiles of the major players dominating the market.
  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.
  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

FREQUENTLY ASKED QUESTIONS

  1. Market Definition
    1. Market Definition
    2. Market Segmentation
    3. Product Overview
  2. Assumptions & Acronyms
  3. Research Methodology
    1. Research Process
    2. Primary Research
      1. Manufacturers
      2. Suppliers
      3. Others
    3. Secondary Research
    4. Market Size Estimation
  4. Analyst Review
  5. Executive Summary- Global Bio-based Transformer Oil Market
  6. Market Lineage: Global Transformer Oil Market
    1. Production Outlook
    2. Consumption Outlook
    3. Trade Outlook
  7. Industry Value Chain Analysis
    1. Raw material procurement
    2. Manufacturing
    3. Distribution & Supply
    4. End-User Outlook
    5. List of Key Players Across the Value Chain
  8. Analysis of Market Dynamics
    1. Market Drivers
    2. Market Restraints
    3. Key Opportunities
    4. Market Trends
  9. Trade Outlook
    1. Import Analysis
    2. Export Analysis
    3. Key Import/Export Destinations
  10. Technology Outlook
  11. Regulatory & Standard Landscape
  12. Impact of COVID-19 on the Global Bio-based Transformer Oil Market
    1. Impact on Demand
    2. Impact on the Manufacturers
    3. Impact on the Supply & Distribution
    4. Impact on the Key Market Players
    5. Impact on the End-Users
    6. Impact on the Pricing
    7. Market Impact Analysis in 2020 (Quarter Wise) w.r.t Covid-19 Pandemic (USD Million)
  13. Global Bio-based Transformer Oil Market Outlook
    1. By Value (USD Million)
    2. By Volume (Tons)
  14. Market Segmentation by:
    1. Type, 2019-2028F (USD Million, Tons)
      1. Jatropha Oil, 2019-2028F (USD Million, Tons)
      2. Karanja Oil, 2019-2028F (USD Million, Tons)
      3. Others, 2019-2028F (USD Million, Tons)
    2. Application, 2019-2028F (USD Million, Tons)
      1. Power Transformer, 2019-2028F (USD Million, Tons)
      2. Distribution Transformer, 2019-2028F (USD Million, Tons)
      3. Others, 2019-2028F (USD Million, Tons)
  15. North America Bio-based Transformer Oil Market
    1.  North America Bio-based Transformer Oil Market, in USD Million (2020-2028)
    2. North America Bio-based Transformer Oil Market, in Tons (2020-2028)
    3. Leading Companies in bio-based transformer oil
    4. Pricing Outlook (USD/Ton)
    5. Market Share (%), 2020
    6. Market Segmentation by:
      1. Type, 2019-2028F (USD Million, Tons)
        1. Jatropha Oil, 2019-2028F (USD Million, Tons)
        2. Karanja Oil, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
      2. Application, 2019-2028F (USD Million, Tons)
        1. Power Transformer, 2019-2028F (USD Million, Tons)
        2. Distribution Transformer, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
    7. Country-wise Bio-based Transformer Oil Market
  16. Europe Bio-based Transformer Oil Market
    1.  Europe Bio-based Transformer Oil Market, in USD Million (2020-2028)
    2. Europe Bio-based Transformer Oil Market, in Tons (2020-2028)
    3. Leading Companies in bio-based transformer oil
    4. Pricing Outlook (USD/Ton)
    5. Market Share (%), 2020
    6. Market Segmentation by:
      1. Type, 2019-2028F (USD Million, Tons)
        1. Jatropha Oil, 2019-2028F (USD Million, Tons)
        2. Karanja Oil, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
      2. Application, 2019-2028F (USD Million, Tons)
        1. Power Transformer, 2019-2028F (USD Million, Tons)
        2. Distribution Transformer, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
    7. Country-wise Bio-based Transformer Oil Market
  17. Asia-Pacific Bio-based Transformer Oil Market
    1.  Asia-Pacific Bio-based Transformer Oil Market, in USD Million (2020-2028)
    2. Asia-Pacific Bio-based Transformer Oil Market, in Tons (2020-2028)
    3. Leading Companies in bio-based transformer oil
    4. Pricing Outlook (USD/Ton)
    5. Market Share (%), 2020
    6. Market Segmentation by:
      1. Type, 2019-2028F (USD Million, Tons)
        1. Jatropha Oil, 2019-2028F (USD Million, Tons)
        2. Karanja Oil, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
      2. Application, 2019-2028F (USD Million, Tons)
        1. Power Transformer, 2019-2028F (USD Million, Tons)
        2. Distribution Transformer, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
    7. Country-wise Bio-based Transformer Oil Market
  18. Latin America Bio-based Transformer Oil Market
    1.  Latin America Bio-based Transformer Oil Market, in USD Million (2020-2028)
    2. Latin America Bio-based Transformer Oil Market, in Tons (2020-2028)
    3. Leading Companies in bio-based transformer oil
    4. Pricing Outlook (USD/Ton)
    5. Market Share (%), 2020
    6. Market Segmentation by:
      1. Type, 2019-2028F (USD Million, Tons)
        1. Jatropha Oil, 2019-2028F (USD Million, Tons)
        2. Karanja Oil, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
      2. Application, 2019-2028F (USD Million, Tons)
        1. Power Transformer, 2019-2028F (USD Million, Tons)
        2. Distribution Transformer, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
    7. Country-wise Bio-based Transformer Oil Market
  19. Middle East and Africa Bio-based Transformer Oil Market
    1.  Middle East and Africa Bio-based Transformer Oil Market, in USD Million (2020-2028)
    2. Middle East and Africa Bio-based Transformer Oil Market, in Tons (2020-2028)
    3. Leading Companies in bio-based transformer oil
    4. Pricing Outlook (USD/Ton)
    5. Market Share (%), 2020
    6. Market Segmentation by:
      1. Type, 2019-2028F (USD Million, Tons)
        1. Jatropha Oil, 2019-2028F (USD Million, Tons)
        2. Karanja Oil, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
      2. Application, 2019-2028F (USD Million, Tons)
        1. Power Transformer, 2019-2028F (USD Million, Tons)
        2. Distribution Transformer, 2019-2028F (USD Million, Tons)
        3. Others, 2019-2028F (USD Million, Tons)
    7. Country-wise Bio-based Transformer Oil Market

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