Global Bio-based Transformer Oil Market Trends, Forecast Report 2025-2037
Bio-based Transformer Oil Market size is projected to increase from USD 77.58 million to USD 159.49 million, exhibiting a CAGR of over 5.7% during the forecast period, from 2025 to 2037. In the year 2025, the industry size of bio-based transformer oil is evaluated at USD 81.12 million.
The market growth can be ascribed to increasing modernization in the transformer for the production of electricity, followed by surging adoption of transformers across the globe. As per recent data, the demand for electricity across the globe is expected to rise by 56 % by the end of 2050. Bio-based transformer oil is biodegradable and has a greater environmental benefit as compared to traditional transformers. In addition, by reducing the carbon footprint from the transformers, manufacturers of consumer goods can improve their brand image.
