Press release
Transformer Oil Market - Positive Long-Term Growth Outlook 2024
Global Transformer Oil Market: Overview
Excellent electrical insulator, coolant, and suppressant properties and impressive high temperature stability of the product are prognosticated to dilute the effect of deterrents such as the emergence of dry type and smart transformers in the global transformer oil market. Besides suppressing arcing and corona discharge in oil-filled transformers, transformer oil finds application in fluorescent lamp ballasts, high voltage capacitors, circuit breakers, and high voltage switches as an insulating fluid.
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The global transformer oil market has been segmented according to product and application. Each segment has been meticulously and elaborately analyzed in the report with a view to help industry players make informed decisions when operating in the global transformer oil market.
On both regional and international level, the report has shed light on almost all of the significant factors that are vital for analyzing the growth and future outlook of the global transformer oil market. Furthermore, a detained analysis of restraining factors backed by trends and opportunities provided in the report could help players to become astute decision makers for their businesses in the global transformer oil market.
Global Transformer Oil Market: Trends and Opportunities
The world transformer oil market is expected to rise steadily at a moderate CAGR between the forecast years 2016 and 2024. The positive growth witnessed in the world transformer oil market could be attributed to the leading-edge advancement of existing transformers. The substitution of aged transformers with latest ones and deployment of new transformers are predicted to increase the demand in the world transformer oil market. There could be a noticeable modernization of distribution and transmission infrastructure on a global platform on account of the incapability of current networks to satisfy the ballooning demand for power. This is anticipated to augur well for the world transformer oil market.
Countries such as Russia, India, and Malaysia have already forwarded the implementation of capacity expansion programs. Other countries could follow suit in the coming years while beneficially impacting the growth of the world transformer oil market. Products manufactured with the use of mineral oil are envisaged to secure a colossal share in the world transformer oil market on the back of performance efficiency. Although bio-based products could gain popularity at a rapid pace on account of their eco-friendly nature and transitioning global scenario, they are forecasted to fall short of achieving a larger share than mineral oil products.
Global Transformer Oil Market: Regional Outlook
Followed by Europe and North America, Asia Pacific is researched to have accounted for the strongest share in the international transformer oil market in 2015. The region is envisioned to continue with its dominance in the international transformer oil market until the concluding year of the forecast period. The growth in the Asia Pacific transformer oil market could be encouraged by developing nations such as Korea, India, and China. In an effort to distribute power to remote locations and expand power infrastructure, governments operating in these countries are projected to promote some effective initiatives. This could help Asia Pacific grow at an even more rapid pace.
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Global Transformer Oil Market: Companies Mentioned
Dow Corning Corporation, Sinopec Corporation, Shell, ExxonMobil Corporation, and Nynas AB are some of the top players in the worldwide transformer oil market that have been analyzed in the report. New entrants could find it challenging to enter the worldwide transformer oil market due to the requirement of mammoth capital expenditure and strong competition from established players. Product pricing and services could be a key basis of the competition in the worldwide transformer oil market.
This report segments the global transformer oil market as the following:
Global Transformer Oil Market - Product Analysis
Mineral Oil
Naphthenic Oil
Paraffinic Oil
Silicone Based
Bio Based
Global Transformer Oil Market - Application Analysis
Power Transformers
Distribution Transformers
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