Transformer Oil Market to cross the 3 billion-dollar mark by 2024 Application Potential, Competitive Market Share & Forecast, 2018 - 2024

Transformer oil market has been following an upward growth trajectory owing to the rising demand for installation of new power grids equipped with large transmission capacities. As per reliable estimates, power transformers apportioned over 55% of the global transformer oil market share in 2017 demonstrating that the power sector will be a significant contributor for the growth of industry in the forthcoming years. This escalating demand puts emerging economies at the forefront as the leading consumers of transformer oil given that these nations have been focusing on building infrastructure to facilitate proper power supply to their rural and urban regions. This in turn has established Asian countries as among the largest consumers of transformer oils in the recent times.

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A succinct outline of the transformer oil industry trends with reference to the regional landscape:

China:
The China transformer oil market was valued at about $250 million in 2017 and is estimated to register a 5% y-o-y growth rate over 2018-2024. The nation’s enormous population and sustained economic growth has exerted a considerable amount of stress upon its existing electric infrastructure. The need for keeping their transformers up and running to ensure a steady and uninterrupted power supply would propel the regional transformer oil industry in the upcoming years.

Research Methodology

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:

1. Definition and scope of research
2. Market dynamics, growth drivers and industry pitfalls
3. Regulatory and political guidelines for the industry
4. Demographics and statistical data

What Information does this report contain?
1. Historical data coverage: 2013 to 2017
2. Growth Projections: 2018 to 2024.
3. Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
4. 6-7-year performance forecasts: major segments covering applications, top products and geographies.
5. Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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Testament to the aforementioned aspects is the 5-year plan announced by the National Energy Administration of China in 2015. The plan apparently intends to invest over $302 billion in electricity grid transformation and construction which would increase the reach of transmission lines in high and medium voltage sectors.

United States:

US contributed to more than $200 million toward the total remuneration portfolio of the industry in 2017. The nation’s Department of Energy announced a Grid Modernization initiative with $220 million investment in 2016 to upgrade their existing transformer grid infrastructure.

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The country also faces rising energy demands and is renowned to be the world’s largest consumer of energy. To fuel these demands various other clean energy initiatives have been rolled out by the government and private sector in the country ensuring a sustained demand for electricity which would impel the U.S. transformer oil 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

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

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