Press release
What's Driving the Transformer Oil Market Trends? Exxon Mobil, Valvoline, Apar Industries, Cargill, Castrol
Transformer Oil Market Report added by DEC Research scrutinizes the overall market synopsis globally, their restraining factors, drivers, major challenges, opportunities, latest trends to stabilize the global Transformer Oil industry situation, future developmental plans, and values pertaining to various marketing states. This Transformer Oil Market report also enables users to make a decision and considering the overall market feasibility. It also offers thorough information on market size, product, key players, various application and major geographical regions.Request a sample of this research report @ https://www.decresearch.com/request-sample/detail/2550
Silicon based transformer oil market will witness growth of over 6.5% by 2024. Self-extinguishing nature, high flash & fire point, non-hazardous nature and low heat releasing properties are some of the key features that will escalate the product demand across the industry. However, growing adoption of bio-based oil is expected to offer competitive edge to silicon-based oils.
Leading Key Players in Transformer Oil Market are:
Apar Industries, Calumet Specialty Product Partners, Cargill, Castrol, Clearco Products, DOW Chemical Company, Electrical Oil Services Limited, Engen Petroleum Limited, Ergon International, Exxon Mobil, Gandhar Oil Refinery India, Hydrodec Group, Novvi LLC, Nynas AB, Royal Dutch Shell plc, San Joaquin Refining Co. Inc., Sinopec Corporation, Valvoline, Hyrax Oil Sdn. Bhd., Eden Oil Company, Inc.
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.
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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.
Table of content
Chapter 5 Transformer Oil Market, By Application
5.1 Transformer oil market share by application, 2017 & 2024
5.2 Distribution Transformers
5.2.1 Global market from distribution transformers, 2013 - 2024
5.2.2 Global market from distribution transformers, by region, 2013 - 2024
5.3 Power Transformers
5.3.1 Global market from power transformers, 2013 - 2024
5.3.2 Global market from power transformers, by region, 2013 - 2024
5.4 Instrument Transformers
5.4.1 Global market from instrument transformers, 2013 - 2024
5.4.2 Global market from instrument transformers, by region, 2013 - 2024
5.5 Other Transformers
5.5.1 Global market from other transformers, 2013 - 2024
5.5.2 Global market from other transformers, by region, 2013 - 2024
You may also like our other trending report:
Industrial Emission Control Systems Market
Read More: https://www.prnewswire.com/news-releases/industrial-emission-control-systems-market-size-worth-24bn-by-2024-global-market-insights-inc-604730666.html
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