Transformer Oil Market and what makes it a Booming industry according to following research report: 2018-2022

Market Scenario:

Transformer Oil is used as insulator and coolant in transformers by energy and power industry. The global transformaer oil markert has seen a potential growth over the past years and as per MRFR analysis, the global market is expected to reach USD 3,614.1 million by 2022 from USD 2,100 million with a CAGR of 8.29%. Globe is facing rise of demand for electricity which will lead to the installation of new transformer, replacement of old transformer, installation of grid infrastructure which will lead the market for transformer oil market.

Moreover, old and existing networks are not able to meet the new demand for power has resulted to modification of the transmission and distribution grid infrastructure. This will impact the growth of the transformer oil market in the forecasted year. However, increasing adoption of dry transformer and volatility in crude oil prices is expected to hamper the market, on account of growing transmission and distribution network across globe.

Market Highlights:

Transformer Oil is used as insulator and coolant in transformers by energy and Power industry.
Globe is facing rise of demand for electricity which will lead to the installation of new transformer, replacement of old transformer, installation of grid infrastructure which will lead the market for transformer oil market. Moreover, old and existing networks are not able to meet the new demand for power demand has resulted to modification of the transmission and distribution grid infrastructure. This will impact the growth of the transformer oil market in the forecasted year. Transformer Oil market is projected to grow at a moderate pace of 7.5% in the next six years.
North America held the largest share within the Transformer Oil market in 2018, and is expected to continue being a major market during the forecast period. European market is expected to grow at a comparatively slow pace, driven by steady demand from countries such as Russia, U.K., Norway, and the Netherlands. Middle East market is expected to grow a good pace during the forecast period.

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Study Objectives of Global Transformer Oil Market:

To provide detailed analysis of the market structure along with forecast for the next six years of various segments and sub-segments of the Global Transformer Oil market
To provide insights about factors affecting the market growth
To analyze the Global Transformer Oil market based on various factors such as supply chain analysis, and Porter’s five forces analysis
To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries - North America, Europe, Asia-Pacific, Rest of the World
To provide country level analysis of the market with respect to the current market size and future prospective
To provide country level analysis of the market for segment by type, by application and by region
To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the global Transformer Oil market

Key Findings:

Asia-Pacific accounts for the largest share of 40% in the global transformer oil market in 2017
Naphthenic accounted for the largest market share of 54.60% in 2018, with a market value of USD 1,146.6 million and is projected to grow at a CAGR of 8.44% during the forecast period
Large Transformers accounted for the largest market share of 49.00% in 2018, with a market value of USD 1,029.0 million and is projected to grow at a CAGR of 7.99% during the forecast period
China accounted for the largest market share of 44.00% in 2018, with a market value of USD 369.6 million and is projected to grow at the highest CAGR of 9.98% during the forecast period

Key Players:

Nynas AB, Ergon Inc.,
Petrochina Company Limited,
APAR Industries Limited,
Calumet Specialty Products Partners L.P.,
Sinopec Corporation,
Hydrodec Group PLC,
Cargill Incorporated,
Engen Petroleum Limited,
Valvoline,
San Joaquin Refining Co. Inc.,
Gandhar Oil Refinery India Limited.

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This release was published on openPR.