Press release
Growth of Transformer Oil Market Forecast to 2024 Focusing on Top Key Players -Calumet, Valvoline, Cargill, Hydrodec, Nynas, Clearco, Electrical Oil Services, DOW Chemical, Engen & more
Transformer Oil
Transformer Oil Market is anticipated to reach over USD 3 billion by 2024. Growing demand for the upgradation of conventional grid infrastructure along with government funding for capacity addition will drive the product demand. For instance, the U.S. government under the Grid Modernization Initiative declared an investment worth USD 220 million in 2016 for the revival of the power grid thereby making the grid more affordable, resilient and sustainable.
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Transformer oil market in UK is anticipated to reach over 6% by 2024. Increasing demand for the replacement of existing grid networks along with the development of renewable energy infrastructure will strengthen the business outlook. Development of inter region transmission and distribution networks coupled with government supported electrification programs will further enhance the industry landscape.
Increasing demand for power has resulted in the widespread installation of new transformer units which in turn will drive the transformer oil market. Rising investments toward rural electrification along with considerable funding from nonprofit organizations will further propel the industry outlook. For instance, the electrical grid infrastructure in Southeast Asia attracted an investment worth USD 6.5 million from the Asian Development Bank in 2017.
Power transformers accounted for over 55% of the global transformer oil market share in 2017. Stringent regulatory measures for the development of energy efficient grids coupled with expansion of power networks in developing nations will strengthen the product demand. Extensive use of power transformers at the receiving and finishing end of high voltage transmission lines will further stimulate the industry landscape.
The China transformer oil market in 2017, accounted for over USD 250 million. Increasing investment for the restoration of aging grid infrastructure coupled with rapid urbanization will boost the industry growth. The National Energy Administration of China in 2015 announced its five-year investment plan toward power grid construction and restoration. Furthermore, an investment worth USD 302 billion was made to expand the transmission lines comprising of medium and high voltage networks.
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Eminent industry leaders in the transformer oil market include APAR industries, Calumet, Valvoline, Cargill, Hydrodec, Nynas, Clearco, Electrical Oil Services, DOW Chemical and Engen amongst others. Strengthened distributary network annexed with product accreditations and cost competitiveness will serve as a vital strategic asset offering competitive edge across the industry.
Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Transformer Oil Industry Insights
Chapter 4. Transformer Oil Market, By Product
Chapter 5. Transformer Oil Market, By Application
Chapter 6. Transformer Oil Market, By Region
Chapter 7. Company Profiles
For More Details on this Report: https://www.marketstudyreport.com/reports/transformer-oil-market
Related Report:
2017-2022 United States Transformer Oil Market Report (Status and Outlook)
The Transformer Oil market size will be XX million (USD) in 2022 in United States, from the XX million (USD) in 2016, with a CAGR (Compound Annual Growth Rate) XX% from 2016 to 2022.
https://www.marketstudyreport.com/reports/2017-2022-united-states-transformer-oil-market-report-status-and-outlook/?utm_source=RR-PSR
2017-2022 Japan Transformer Oil Market Report (Status and Outlook)
The Transformer Oil market size will be XX million (USD) in 2022 in Japan, from the XX million (USD) in 2016, with a CAGR (Compound Annual Growth Rate) XX% from 2016 to 2022.
https://www.marketstudyreport.com/reports/2017-2022-japan-transformer-oil-market-report-status-and-outlook
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