Covid-19 Impact on Global Transformer Oil Market Size, Status and Forecast 2020-2026

Covid-19 Impact on Global Transformer Oil Market Size, Status and Forecast 2020-2026

“Transformer Oil Market”
WiseGuyReports.com adds “Global Transformer Oil Market Research Report 2020 Analysis and Forecast 2026” reports to its database.

Transformer Oil Market:

Executive Summary

Global Transformer Oil Market is valued approximately at USD 2.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.9% over the forecast period 2020-2026. Transformer Oil is an oil that is stable at high temperature and a superlative insulator for electricity and used in applications such as power and distribution transformers. It is a derivative of mineral oils, acts as a cooling agent to reduce the raising temperature and also acts as a medium for transferring the heat in an electric transformer. Rising electricity requirements due to increasing population has resulted in an increase in investments for the expansion of the existing power grids as well as for the construction of new power infrastructure in developed and developing countries. upgradation of electric grids in developing countries along with the expansion of electric grids due to growing industrialization and urbanization are key factor accelerating the market growth. Furthermore, expanding energy demand and growing installation of power grids is likely to create significant growth opportunity in the market over the forecast period. For instance, as per the International Energy Agency, the demand the electricity demand in the Unites States is estimated to grow from 4 thousand TWh in 2019 to 5 thousand TWh (TeraWatt Hour)) by 2040. Similarly, the electricity demand from China is expected to reach 11 thousand TWh by 2040 from 7 thousand TWh in 2019. However, Easy contamination of transformer oil impedes the growth of the market over the forecast period of 2020-2026.

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The regional analysis of global Transformer Oil market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the significant region across the world in terms of market share owing to modernization of the existing transformers and technical upgradation coupled with declining crude oil prices in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2026. Factors such as growing power requirements, along with the upgradation of the aging electrical infrastructure would create lucrative growth prospects for the Transformer Oil market across Asia-Pacific region.

Major market player included in this report are:
Nynas AB
Ergon International
Petrochina Company Limited
Apar Industries
Sinopec Lubricant
Calumet Speciality Products
Hydrodec Group
Cargill, Incorporated
ExxonMobil
Engen Petroleum Limited

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Type:
Mineral
Silicone
Bio-based

By Application:
Transformer
Switchgear
Reactor

By End-user:
Transmission and Distribution
Power Generation
Railways & Metros
Others

Furthermore, years considered for the study are as follows:

Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026

Target Audience of the Global Transformer Oil Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Continuous…

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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

 

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