Transformer oil market Analysis Focusing on Top Key Players – APAR Industries, Valvoline, DOW Chemical, Clearco, Engen and Electrical Oil Services amongst others
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.
Chapter 1 Methodology & 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
The research process begins with extensive data mining, using authentic sources such as trade magazines, technical publications, independent studies along with paid avenues such as ICIS, Hoovers, etc. Primary objectives of data mining include:
• Definition and scope of research
• Market dynamics, growth drivers and industry pitfalls
• Regulatory and political guidelines for the industry
• Demographics and statistical data
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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 transmission’s lines in the medium and ultra-high voltage areas.
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