Transformer Oil Market Overview:
Remarking on this report, an analyst from Market Research Future (MRFR)’s team said, the global transformer oils market is predicted to grow at a healthy CAGR to reach USD 4,002.8 million by the end of 2023. The changing lifestyle and the demand for high-tech devices has increased the power consumption rate, which is likely to propel the global market further. Some of the key market factors that positively influence the market growth of transformer oils are rising power consumption, focus on rural electrification, and expansion of the electrical grids. Rapid industrialization and urbanization coupled with rising per capita disposable income in developed and developing countries across the globe are predicted to fuel the growth of the market over the estimated period. However, the threat of substitution by dry transformers and the fluctuating raw material prices may challenge the market growth.
Transformer Oil Market is projected to grow at a moderate pace of 7.5% in the next six years.
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.
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Transformer Oil Market Key Players:
Market Research Future (MRFR) recognizes the following companies as the key players in the global transformer oils market: 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.), and Gandhar Oil Refining (India).
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 2017. 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 2017. Nynas AB is the leading producer and expanding its production capacity for transformer oils.
Transformer Oil Market Regional Analysis:
The global transformer oil market is segmented into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific on the basis of geography.
Asia Pacific held a share of 37.63% in the global transformer oil market in 2016 and is expected to exhibit a strong CAGR of 10.57% over the forecast period.
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 Segmentation:
The global transformer oils market is categorized on the basis of type, application, and region.
On the basis of type, the global transformer oils market is segmented into naphthenic oil, paraffinic oil, bio-based oil, and silicone oil. Among these, naphthenic oil accounted for around 48% of the market in 2016 and is likely to remain the leading revenue generator over the forecast period.
On the basis of application, the market is segmented into large transformers, small transformers, and utility & others.
Transformer Oil Market Table of Content:
1 Report Prologue
2 Introduction
3 Research Methodology
4 Market Dynamics
5 Transformer Oil Market, By Type
Transformer Oil Market Table of Content to be Continue……,
Transformer Oil Market List of Tables:
Table 1 Global Transformer Oil Market By Type (2015-2023) (USD Million)
Table 2 Global Transformer Oil Market By Type (2015-2023) (Million Liter)
Table 3 Global Transformer Oil Market For Napthenic (2015-2023) (USD Million)
Table 4 Global Transformer Oil Market For Napthenic (2015-2023) (Million Liter)
Table 5 Global Transformer Oil Market For Paraffinic (2015-2023) (USD Million)
Transformer Oil Market List of Tables to be Continue……,
Transformer Oil Market List of Figures:
Figure 1 North America Market Size By Country & Share (2017 Vs 2023)
Figure 2 Europe Market Size By Country & Share (2017 Vs 2023)
Figure 3 Asia Pacific Market Size By Country & Share (2017 Vs 2023)
Figure 4 Latin America Market Size By Country & Share (2017 Vs 2023)
Figure 5 Middle East & Africa Market Size By Country & Share (2017 Vs 2023)
Transformer Oil Market List of Figures to be Continue……,
Complete List of Tables and Figures @ https://www.marketresearchfuture.com/reports/transformer-oil-market-1769
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