Transformer Oil Market
Transformer Oil Market Overview:
Transformer Oil Market is Estimated to Grow Globally at 8.63% CAGR Accounting to USD $ 4,002.8 Million Dollar during the Forecasting Period by 2017 to 2023.
Transformer Oil Market is majorly ruled by mineral oil forms such as naphthenic and paraffinic, which cumulative accounts for 90.0% of the overall market due to the easy availability of naphthenic oil. This factor would retain its dominance till the end of forecasted period. However, prominent trends in the market such as increasing environmental concerns and increasing stringent regulations regarding fire safety are anticipated to boost market demand for bio based and silicone oil over the forecast period.
Transformer Oil Market will be driven by the increasing demand for the electricity. Electrification of rural areas, increasing investment in the power sector, and expansion of the power grid infrastructure will lead the market for transformer oil. However, increasing adoption of dry transformer and volatility in crude oil prices is expected to hamper the market. The market for Transformer Oil services is expected to grow at a moderate pace during the forecast period, on account of growing transmission and distribution network across globe.
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Transformer Oil Market Application:
Transformer Oil Market is projected to grow at a moderate pace of 7.5% in the next six years.
Transformer Oils Market is the expansion of power grids in the developing countries in the Asia Pacific region. The other major driving factors include rising power consumption and increasing investment in power sector. The increased demand for high-tech electronic devices coupled with the growing population and high disposable income has augmented the energy demand in developed regions. Moreover, the shifting trends towards the renewable energy sources are likely to drive the market growth over the assessment period. However, the fluctuating raw material cost and the demand for dry transformers may restrain the market growth during the review period.
The Over Growth of the market is attributed towards transition of renewable energy sources, power grid up gradation in Europe & North America and electricity grid expansion owing to increasing energy demand in developing countries in Asia.
Globe is facing rise of demand for electricity which will lead to the installation of new transformer, replacement of old transformer, installation of grid infrastructure which will lead the market for transformer oil market. Moreover, old and existing networks are not able to meet the new demand for power demand has resulted to modification of the transmission and distribution grid infrastructure. This will impact the growth of the transformer oil market in the forecasted year.
Silicone Oil segment is estimated to exhibit highest CAGR over the forecast period. Large Transformer as an application was a dominant segment with market value USD 1,029.0 million in 2017, states the team Research Analyst while commenting upon this deep diving Market Study Report.
Transformer Oil Market Key Players:
Transformer Oils Market are Nynas AB (Sweden), Ergon Inc. (U.S.), Calumet Specialty Products (U.S.), APAR Industries Limited (India), PetroChina Company (China), Sinopec Group (China), Hydrodec Group Plc. (U.K), Cargill Inc. (U.S.), Engen Petroleum Limited (South Africa), Valvoline Inc. (U.S.), San Joaquin Refining (U.S.), Gandhar Oil Refining (India), and others.
Transformer Oil Market Intended Audience:
Transformer oils manufacturers
Traders and distributors of transformer oils
Production process industries
Raw material suppliers
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Transformer Oil Market Scope:
Transformer Oil industry, tracking market segments across the categorized four geographic regions. The report provides a six-year forecast for the market size in terms of value for North America, Europe, Asia-Pacific, and Rest of the World.
Transformer Oil Market Key Findings:
Transformer Oils Market is projected to reach USD 4,002.8 million by 2023 expanding with a healthy CAGR over the forecast period. Naphthenic oil accounted for the largest type segment accounting for value market share of 48.4% in 2016. Paraffinic oil type is the second largest market exhibiting highest CAGR over the forecast period. Asia-Pacific is the largest and fastest growing market accounting for 37.63% in the overall market in 2016. Nynas AB is the leading producer and expanding its production capacity for transformer oils.
Transformer Oil Market Regional Analysis:
Asia-Pacific has emerged as the fastest growing market accounting to the 40% of market share followed by North America and Europe. APAC is expected to retain its dominance throughout the forecasting period. According to International Energy Agency, Asia’s share in world energy consumption is expected to rise 38% in 2010 to 51% in 2030. Among countries in Asia, China and India are estimated to account for more than 60% share in overall energy consumption. The estimated per capita energy consumption is relatively low in those countries.
North America and Europe region is expected to compete with each other in terms of both value and volume. The growth for transformer oil will be slower in Americas and Europe region, as they are more depended on renewable sources then conventional sources of energy.
Transformer Oil Market Segments:
For an Easy understanding; the Global transformer oil market has been segmented into 3 Key Dynamics -
• Segmentation by Type : Naphthenic, Paraffinic, Silicone Based and Bio Based
• Segmentation by Application : Small Transformer, Large Transformer, Utility and others
• Segmentation by Region : North America, Europe, Asia-Pacific and Row
Transformer Oils Market: By Type (Naphthenic Oil, Paraffinic Oil, Bio-Based Oil, Silicone Oil), By the Application (Large Transformers, Small Transformers, Utility & Others), and Region – Forecast Till 2023
Transformer Oil Market Table of Content:
1. REPORT PROLOGUE
2.2. SCOPE OF THE STUDY
2.2.1. RESEARCH OBJECTIVE
2.3. MARKET STRUCTURE
2.4. MARKET SEGMENTATION
3. RESEARCH METHODOLOGY
3.1. RESEARCH PROCESS
3.2. PRIMARY RESEARCH
3.3. SECONDARY RESEARCH
3.4. MARKET SIZE ESTIMATION
3.5. FORECAST MODEL
4. MARKET DYNAMICS
4.1. DRIVERS & OPPORTUNITIES
4.2. CHALLENGES & RESTRAINTS
4.3. VALUE CHAIN ANALYSIS
4.4. PORTER’S FIVE FORCES ANALYSIS
5. TRANSFORMER OIL MARKET, BY TYPE
5.2. MINERAL- NAPHTHENIC
5.4. SILICONE BASED TRANSFORMER OIL
5.5. BIO BASED TRANSFOMER OIL
Transformer Oil Market Table of Content to be Continue……,
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