The global market Transformer Oil service is expected to grow at a CAGR of about 7.5% during the forecast period, 2016 to 2022.
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 1,103.9 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
- 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
- San Joaquin Refining Co. Inc.
- Gandhar Oil Refinery India Limited
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– Asia-Pacific accounts for the largest share of 40% in the global transformer oil market in 2015
– Naphthenic accounted for the largest market share of 54.60% in 2014, with a market value of USD 1,146.6 million and is projected to grow at a CAGR of 8.44% during the forecast period
– Large Transformers accounted for the largest market share of 49.00% in 2014, with a market value of USD 1,029.0 million and is projected to grow at a CAGR of 7.99% during the forecast period
– China accounted for the largest market share of 44.00% in 2014, with a market value of USD 369.6 million and is projected to grow at the highest CAGR of 9.98% during the forecast period
The global 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. The major reason behind this factor is easy availability of naphthenic oil, and as per the analysis, 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. Silicone oil is estimated to exhibit highest CAGR over the forecast period.
Scope of the report
This study provides an overview of the global 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 manufacturers
- Transformer Oil dealers and supplier
- Grid Infrastructure player
- Energy and power sector
- Industry Associations and Publications
- Investment bankers and M&A Consultants
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