Keywords :
global transformer oil market, transformer oil market trends
Transformer Oil Market Analysis
Transformer Oil is used as insulator and coolant in transformers by energy and Power industry. Globe is experiencing a rise of demand for electricity which has led to the installation of new transformer, replacement of old transformer, installation of grid infrastructure.
These factors have pushed the global market for Transformer Oil across all the regions, where Asia-Pacific has accounted the largest market share of around 40% followed by North America and Europe. 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.
The global market on the basis of type, naphthenic has acquired the largest market due to abundance availability of naphthenic and is expected to retain its dominance during the forecast period. On the basis of application, large transformer segment is estimated to be valued at USD 1,029.0 million in 2016 and is anticipated to expand at a CAGR of 7.99%.
The expansion of power grids in emerging countries in Asia is estimated to primarily drive the small transformers segment. However, the increasing transition from non-renewable to renewable energy sources is estimated to boost demand for large transformers over the forecast period.
Top Key Players
The key players of Global Transformer Oil Market report include- Nynas AB, Ergon Inc., Petrochina Company Limited, APAR Industries Limited, Calumet Specialty Products Partners L.P., Sinopec Corporation, Hydrodec Group PLC, Cargill Incorporated, Engen Petroleum Limited, Valvoline, San Joaquin Refining Co. Inc., and Gandhar Oil Refinery India Limited.

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Report : https://www.marketresearchfuture.com/reports/transformer-oil-market-1769

Regional Analysis
Geographically, the transformer oils market is segmented into five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific emerged as the leading transformer oils market in 2018, driven by the expansion of energy grids to reach the demand for energy in the developing countries such as China and India.
Asia Pacific region accounted for 37.63% of the overall value share in 2016 and is projected to grow at a CAGR of 10.57% during the forecast period. China has emerged as a global manufacturing hub which has established its industrial manufacturing and has accelerated the sales of transformers and the utility of transformer oils.
North America is the second largest region and accounted for around 30% of the overall market share in terms of value in 2019 and is expected to grow with the significant CAGR over the forecast period. This growth can be attributed to the modernization of the existing transformers and technical upgradation in the U.S. and Canada.

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