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Transformer Oil Market Trends 2018 | Key Industry Players - Nynas, Cargill, Calumet, APAR Industries, Hydrodec, Valvoline, Clearco, DOW Chemical, Electrical Oil Services and Engen

10-29-2018 10:44 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Transformer Oil Market

Transformer Oil Market

Transformer oil market is predicted to reach USD 3 Billion by 2024, as reported in the new study by Global Market Insights, Inc.

Growing demand for the modernization of existing grid infrastructure along with large scale transmission capacity addition will stimulate the transformer oil market growth. The U.S. Department of Energy in 2016, through the Grid Modernization Initiative announced to allocate USD 220 million. The investment was done to revive the electricity grid thereby making it affordable, sustainable and resilient. Rising electricity demand from developing economies to increase the accessibility for the population will further enhance the business outlook.

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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.

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.

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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.

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.

Browse Complete Report Summary @ https://www.gminsights.com/industry-analysis/transformer-oil-market

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.

Transformer Oil Market research report includes in-depth coverage of the industry with estimates & forecast in terms of Liters and USD from 2013 to 2024, for the following segments:

Transformer Oil Market, By Product

Mineral Based
Naphthenic
Paraffinic
Mineral Based, By Application
Distribution Transformer
Power Transformer
Instrument Transformer
Others

Silicon Based
Silicon Based, By Application
Distribution Transformer
Power Transformer
Instrument Transformer
Others

Bio Based
Bio Based, By Application
Distribution Transformer
Power Transformer
Instrument Transformer
Others

Transformer Oil Market, By Application

Distribution Transformer
Power Transformer
Instrument Transformer
Others

Read Our Blog: http://cmferesearch.com/

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:

Arun Hegde
Corporte Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

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