Press release
Transformer Oil Market from 2018 to 2024: Key Players are Apar Industries, Calumet Specialty Product, Cargill, Castrol, Clearco Products, The DOW Chemical Company, Engen Petroleum, Ergon International, Exxon Mobil, Shell, Eden Oil Company
Transformer Oil Market
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Silicon based transformer oil market will expand over 6.5% by 2024. High fire & flash point, self-extinguishing nature, low heat release and nonhazardous properties has accelerated the acceptance of the product range across the business landscape. Non-petroleum base and non-toxicity are some other requirements contributing to the amplified product penetration growth. Though, rising prominence of bio-based products are anticipated to offer significant competition to the silicon-based transformer oils.
UK transformer oil market is predicted to reach over 6% by 2024. Rising demand for transformation and refurbishment of prevailing electricity infrastructure coupled with favorable government reforms supporting the development of renewable energy networks will strengthen the industry landscape. Expansion of inter region transmission networks along with government funding for electrification programs will further complement the business landscape.
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Rising demand for power across the globe has enhanced the deployment of new transformer units which in turn will propel the transformer oil market share. Increasing focus toward rural electrification coupled with massive investment from nonprofit organizations will further augment the industry landscape. The Asian Development Bank, in 2017, announced to invest USD 6.5 million for the development of electrical grid infrastructure in Southeast Asia.
Power transformers, in 2017, valued over 55% of the transformer oil market share. Rising investment in the electricity sector along with development of power grids in developing countries will augment the product demand. Increasing use of power transformer at the receiving & finishing end of HV transmission lines will further boost the industry outlook.
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The China transformer oil market was valued over USD 250 million in 2017. Rising demand for the restoration of aging grid systems along with substantial fund flow for the modification of grid infrastructure will complement the industry landscape. In 2015, the National Energy Administration of China introduced its 5-year investment plan for the power grid construction & reformation. An investment of USD 302 billion was done to increase the length of the transmissions lines in the medium and ultra-high voltage areas.
Eminent industry players in the transformer oil market comprise of Cargill, Nynas, Calumet, Hydrodec, APAR Industries, Valvoline, DOW Chemical, Clearco, Engen and Electrical Oil Services amongst others. Product accreditations, cost competitiveness coupled with strengthened distribution network are the key strategic assets that will offer a competitive edge across the industry.
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Partial Table of Content:
Chapter 3 Transformer Oil Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2013 – 2024 (USD Million)
3.3 Industry ecosystem analysis
3.3.1 Vendor matrix
3.4 Regulatory landscape
3.4.1 U.S.
3.4.2 Europe
3.4.3 India
3.4.4 Saudi Arabia
3.5 Innovation & technology landscape
3.5.1 Calumet
3.5.2 Nynas
3.5.3 Cargill
3.6 Price trend analysis, by region
3.7 Price trend analysis, by product
3.8 Industry impact forces
3.8.1 Growth drivers
3.8.1.1 North America
3.8.1.1.1 Refurbishment of existing grid networks
3.8.1.1.2 Rising electric infrastructure spending
3.8.1.2 Europe
3.8.1.2.1 Rapid smart grid adoption
3.8.1.2.2 Expansion of sustainable electricity networks
3.8.1.3 Asia Pacific and MEA
3.8.1.3.1 Increasing demand for electricity
3.8.1.3.2 Large scale renewable integration
3.8.1.4 Latin America
3.8.1.4.1 Increasing demand for sustainable electrical networks
3.8.2 Industry pitfalls and challenges
3.8.2.1 Increasing adoption of dry type transformers
3.9 Growth potential analysis
3.10 Key customer requirement
3.10.1 North America
3.10.2 Europe
3.10.3 Asia Pacific
3.10.4 Middle East & Africa
3.10.5 Latin America
3.11 Entry barrier
3.12 Competitive landscape, 2017
3.12.1 Strategy dashboard
3.12.1.1 APAR Industries
3.12.1.2 Calumet
3.12.1.3 Cargill
3.12.1.4 Nynas
3.12.1.5 Hydrodec
3.13 Significance of transformer oil monitoring
3.14 Essential parameters for evaluation of transformer oil performance
3.15 Transformer Oil analysis
3.16 Porter’s Analysis
3.17 PESTEL Analysis
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