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by Oil Type (Mineral (Naphthenic, Paraffinic), Silicone, Bio-based), Application (Transformer, Switchgear, Reactor), End User (Transmission & Distribution, Power Generation, Railways & Metros), and Region - Global Forecast to 2030 , published by MarketsandMarkets™, the global Transformer Oil Market size is expected to grow from an estimated USD 1.9 billion in 2021 to USD 3.3 billion by 2030, at a CAGR of 6.5%. The expansion of electric grids in developing countries and the modernization of the electric grids in the developed economies are driving the Transformer Oil Market. Mineral oil: The largest segment of the Transformer Oil Market, by oil type The market has been segmented by oil type into mineral oil, silicone and bio-based. The mineral oil segment is expected to have the largest market share and is projected to grow at the highest rate during the forecast period. Mineral oil is mainly used for cooling and insulation purposes in transformers, reactors, and switchgears. It

United statesSouth koreaAashish mehraType of cooling method oilOil type mineral naphthenicPetrochina company limited chinaPower market research reports consultingSinopec lubricant company chinaErgon incIndustries indiaResearch insightTransformer oil marketOil marketCoil typeEnd userPower generation