Transformer Oil Market: Global Energy and Power Industry Dominating & Driving More Traction in Coming Future.
Transformer oil market sales to reach $3.4 billion by 2020, with the mineral oil-based transformer oil segment to maintain its dominance until 2020. In 2014, the consumption of transformer oils was 1,437.8 million litres across the globe, which is expected to increase at 6.3% from 2015 to 2020.
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Distribution transformers segment dominates the global transformer oil market, accounting for nearly half of the overall market, in terms of volume. The key factors responsible for this dominance is increase in energy usage coupled with increasing number of sub transmission lines to residential homes. Other important factors stimulating its growth include electrification of rural areas, expansion of power grids and increasing investment in the power sector. However, factors such as volatility in crude oil prices and increasing adoption of dry transformers are expected to hamper the market growth.
Asia-Pacific is expected to maintain its dominance through 2020, due to increasing demand for electricity in densely populated countries such as India and China, expansion of grid infrastructure and increasing investments in the power sector. China dominates the Asia-Pacific transformer oil market followed by India owing to the high demand for transformer oil in power transmission infrastructure. Russia and Germany are the largest consumers of transformer oil in the European market.
KEY MARKET BENEFITS:
•The report includes extensive analysis of the factors driving as well as restraining the global transformer oil market.
•The market projections for the period 2014-2020 have been included along with factors affecting the same.
•The report also provides quantitative as well as qualitative market trends to help the stakeholders in understanding the situations prevailing in the market
•An in-depth analysis of key segments of the market demonstrates stakeholders with different types of transformer oil consumed across different industries on the globe.
•SWOT analysis enables to study the internal environment of the leading companies for strategy formulation
•Competitive intelligence highlights the business practices followed by the leading market players across various geographies
Increasing consumption of electricity and development of new power plants are expected to provide stellar growth opportunities for the Russian transformer oil market. The Middle Eastern transformer oil market is projected to exhibit the highest CAGR during the analysis period, both in terms of volume and revenue. This is attributed to factors such as increase in power grids, heavy investment, and expansion of electricity network.
GLOBAL TRANSFORMER OIL MARKET SEGMENTS:
Market, By Type
• Mineral Oil-Based
• Silicone Oil-Based
Market, By Application
• Distribution Transformer
• Power Transformer
• Others (Instrumental & others)
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The prominent players profiled in this 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.
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