Press release
Global Transformer Oil Market : Technology Development, Forecast & Growth Rate Report 2020-2027
Global Transformer Oil Market was valued at USD 2,545 million in 2019 which is expected to reach USD 3,530.6 million by 2027 at CAGR 4.8%.Transformer oil is referred as insulation oil which is steady at high temperatures and a superlative insulator for electricity. This is majorly derivatives of mineral oils, but substitute composition with better chemical and physical properties are growing in demand.
Increase in focus on rural electrification in emerging countries such as china and India is expected to drive the global transformer oil market. Furthermore, increase in urbanization, drastic industrialization, as well as progressive access to modern electricity grids in rural areas in APAC region which is expected to positively influence the market growth over the forecast period. Also, increase in consumer requirements and exponential development in distribution networks have also support the market growth during this forecast period. Moreover, rise in demand for electricity across the world has fuel the deployment of new transformers which in turn will propel the market growth.
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The Transformer Oil market has been explored in segments. type, Components, and distribution channel are some of the areas where the market has been studied. The regional outlook section specifically mentions the progress of the Transformer Oil market. Clients can identify several windows which allow the regional markets to vent out, registering impressive revenues. America, Europe, Asia Pacific, the Middle East Asia and Africa, and Rest of the World (RoW) are regional segments of the Transformer Oil market. Market vendors are profiled from credible sources like industry whitepapers, annual reports, financial reports, and Key Opinion Leaders (KOLs) that comprise Chief Executive Officer (CEO), sales directors, general managers, product managers, R&D directors, and others. The latest news concerning the Transformer Oil market is highlighted in the news update section.
A fluctuation in crude oil prices is the major challenging factor which is expected to hinder the global transformer oil market growth. Also, rise in adoption of alternate transformer technologies will limit the global transformer oil market growth.
Market Key Players
Various key players are discussed in this report such as BASF SE, Emirates Lube Oil Company, Royal Dutch Shell, Hydrodec Group Plc, Engen Petroleum Ltd, Hyrax Oil Sdn Bhd, Calumet Specialty Products, Cargill Inc, Sinopec Corporation, PetroChina Company Ltd, Valvoline, Ergon Inc, Nynas AB, and Dairen Chemical Corporation.
Market Taxonomy
By Product Type
• Mineral Based Oil
o Naphthenic Base Oil
o Paraffinic Oil
• Silicone Based Oil
• Bio-Based Oil
By Application
• Small-Scale Transformers
• Large-Scale Transformers
• Utility Transformer Oil
By Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa
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Vishal Thakur
Research Support Specialist
QualiKet Research
6060 N Central Expy #500, TX 75204, U.S.A
Email: sales@qualiketresearch.com
Website: https://qualiketresearch.com
QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which helps our clients outperform their competition.
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