Transformer Oil Market is expected to rise at a remarkable CAGR By 2022.

Transformer oil also known as dielectric insulating oil. It is obtained by subsequent treatment of crude oil or by fractional distillation. Basically, transformer oil is used as a coolant and as electric insulation in electric transformers. Additionally, it aids to preserve the core and winding, fully immersed inside oil and also prevents direct contact of atmospheric oxygen with cellulose made paper insulation of windings, which is susceptible to oxidation.

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Transformer oil is a dielectric oil used as coolant in various types of transformers. The global transformer oil market is segmented on the basis of application as large transformers, small transformers, and utility & others (high voltage switches). Large transformer are mostly used as power transformer for step-up and step-down operations and are genially rated above 200 MVA. Small transformer are used for lower voltage distribution networks and are rated below 200 MVA.

The large transformer segment was estimated to be valued in millions in 2016 and is anticipated to anticipate to grow at faster pace. In terms of volume the segment is estimated to be pegged in million liters. The expansion of power grids in emerging countries in Asia is estimated to primarily drive the small transformers segment. However, the increasing transition from non-renewable to renewable energy sources is estimated to boost demand for large transformers over the forecast period.

Large transformers accounted for the largest market share in 2014, with a market value benched to million and is projected to grow at a faster pace during the forecast period. Small Transformer was the second-largest market in 2014; it is projected to grow at the highest CAGR for the forecasted period.

Small transformers are the transformer with rating lower than 200 MVA and are generally used for distribution networks. Such type of transformers are also known as distribution transformers. The segment is estimated to be valued in millions 2016. In terms of volume, the segment is estimated to be pegged at million liters in 2016. The power grid expansion in developing countries in Asia is estimated to primarily drive the segment over the forecast period.

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Browse similar research report of “Global Transformer Oil Market, By Region, Trends and Forecast 2014-2022”

The global transformer oil market by region statistical report published by Market Research future contains a brief overview of global transformer oil market by region. The market has been segmented on the basis of regions in globe as North America, Europe, Asia-Pacific, Latin America and Middle East & Africa to provide a clear picture of transformer oil industry in world. The global market for transformer oil has witnessed continued demand during the last few years and is projected to grow at a healthy CAGR from 2016 to 2022. Increasing Transition to Renewable Energy Source and increasing use of bio based transformer oil are likely to drive the global transformer oil market.

Asia-Pacific accounts for the largest market share in the global transformer oil market in 2015. The Asia-Pacific region is segmented into China, Japan, India and Rest of APAC, where the impact of China is very strong in the global APAC as well as global market. Furthermore, Japan is the second largest market in APAC by acquiring a healthy market share. The emerging economies, presence of established players, increasing demand from automotive as well as increasing transition to renewable energy sources are the major growing factors which are driving APAC transformer oil market.

Market Research Future predicts as North America is the second leading region in the global transformer oil market. Followed by Europe and Middle East. Apart from this, China is one of the major exported for North America with respect to transformer oil. As per the study, the North America market has been segmented into the US and Canada, where, the US has accounted huge market share as compared to Canadian market.

Market Research future through this report aims to provide understanding of the global transformer oil market on the basis of region, and also assists identification of ongoing trends along with anticipated growth during the forecasted period. For this report, extensive primary research was conducted to gain a deeper insight of the market performance. Various industry experts and Key Opinion Leaders (KOLs) were contacted and interviewed to get an idea of global color master batch market.

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