Transformer Oil Market Overview:
Transformer oil has long been serving two purposes, cooling and insulating in the electrical transformer. The large, steel encased electrical transformers are connected to the electrical grid that is filled with these oils are then circulated through radiator fins for dumping heat to the surrounding air. Transformer oil is also used for cooling and insulating high voltage components offering various properties such as high resistivity, excellent di-electricity, thermal conductivity, minimum power loss, and chemical stability, among others.
The global transformer oil market has been witnessing a remarkable growth over the past few years mainly due to the augmenting demand for energy driven by the ever-increasing population, worldwide. Moreover, factors such as the transition of renewable energy sources and power grid up gradation in the developing regions such as Europe & North America and electricity grid expansion in developing countries in Asia, escalating the market on the global platform.
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Market Research Future (MRFR) has launched a new release on the global transformer oil market. The report provides data and actionable insights into the probable growth trajectory of the global transformer oil market over the forecast period from 2018 to 2023, relying on information about the market’s past growth to provide a basis for forecasts and projections about the market’s probable future growth trajectory. The global transformer oil market is expected to exhibit a robust 8.63% CAGR over the forecast period, rising to a valuation of USD 4,002.8 million.
Transformer Oil Industry/Innovation/Related News:
July 04, 2018 — After launching – ‘bioTransol’ –a biodegradable transformer oil made from natural ester-based vegetable oil in 2017, Savita Oil Technology Ltd. (India), a leading global specialty petroleum products company took another eco-friendly leap by adding a bio-based lubricant to its range of offerings, along with promising a new product for BS-VI diesel engines.
At the launching event, the company also confirmed that bioTransol has been receiving a favorable customer response all over. This has further encouraged the company to launch a similar product for automobiles, too, which would be a good differentiator between Savita oil and other brands.
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 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 transformer oils market is segmented on the basis of type, application, and region. On the basis of the type, the market is segmented into naphthenic oil, paraffinic oil, bio-based oil, and silicone oil. Among these, naphthenic oil is accounted for around 48% market share in overall transformer oil sales revenue. The demand for naphthenic oil is increasing at a faster pace due to various properties such as good solvency, low pour point, good stability, low flash point, high volatility, and high viscosity.
Based on the application, the market is segmented into large transformers, small transformers, utility & others. The large transformers are the leading segment because they are more powerful and used for step-up and step-down operations. The larger transformer segment was valued at USD 1,106.7 million in 2016 and is anticipated to grow at a CAGR of 7.79% over the review period. On the basis of the region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Transformer Oil Market Table Of Contents:
1 Report Prologue
2 Introduction
3 Research Methodology
4 Market Dynamics
5 Transformer Oil Market, By Type
Transformer Oil Market Table Of Contents 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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