Synopsis of Transformer Oil Market:
Market Prospects and Highlights:
Transformer Oil is used as insulator and coolant in transformers by energy and power industry. The Global Transformer Oil Market has seen a potential growth over the past years and as per MRFR analysis, the Global Market is expected to reach USD 3,614.1 million by 2022 from USD 2,100 million with a CAGR of 8.29%. 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 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. However, increasing adoption of dry transformer and volatility in crude oil prices is expected to hamper the market, on account of growing transmission and distribution network across globe.
Key Findings in Report:
- 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.
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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.
Regional Analysis of Global Transformer Oil Market:
Asia Pacific held the largest share of 40% within the Transformer Oil market in 2015, and is expected to retain its majority by 2022. Followed by APAC, North America and Europe region is expected to compete each other in terms of both value and volume. Countries like China and India has a high demand for the Transformer oil for expansion of electric networks and installation of transformer. Transformer oil market will be driven by the growth of transmission and distribution network all across the globe. 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.
Global Transformer Oil Market has been segmented into:
- Types: Naphthenic, Paraffanic, Silicone Based and Bio Based
- Application: Small Transformer, Large Transormer, Utility and others
- Region: North America, Europe, Asia-Pacific and RoW
The report covers brief analysis of country level market information –
- Rest of Asia-Pacific
- North America
- Rest of Europe
- Rest of the World
- Saudi Arabia
- South Africa
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