Transformer Oil Industry Share, Size, Trends, Growth Analysis by 2023
Posted by Moin Patni on February 12th, 2019
Transformer Oil Market Key Players:
Transformer Oils Market are: Nynas AB (Sweden), Ergon Inc. (U.S.), Calumet Specialty Products (U.S.), APAR Industries Limited (India), PetroChina Company (China), Sinopec Group (China), Hydrodec Group Plc. (U.K), Cargill Inc. (U.S.), Engen Petroleum Limited (South Africa), Valvoline Inc. (U.S.), San Joaquin Refining (U.S.), Gandhar Oil Refining (India), and others.
Transformer Oil Market Overview:
Transformer Oil Market is Estimated to Grow Globally at 8.63% CAGR Accounting to USD 4,002.8 Mn during the Forecasting Period by 2018 to 2023.
Transformer Oil Market is projected to grow at a moderate pace of 7.5% in the next five years.
Transformer Oil Market is majorly ruled by mineral oil forms such as naphthenic and paraffinic, which cumulative accounts for 90.0% of the overall market due to the easy availability of naphthenic oil.
Silicone Oil segment is estimated to exhibit highest CAGR over the forecast period. Large Transformer as an application was a dominant segment with market value USD 1,029.0 million in 2017, states the team Research Analyst while commenting upon this deep diving Market Study Report.
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Transformer Oil Market Key Findings:
Naphthenic oil accounted for the largest type segment accounting for value market share of 48.4% in 2017. Paraffinic oil type is the second largest market exhibiting highest CAGR over the forecast period. Asia-Pacific is the largest and fastest growing market accounting for 37.63% in the overall market in 2017. Nynas AB is the leading producer and expanding its production capacity for transformer oils.
Transformer Oil Market Segmentation:
Transformer Oils Market is categorized based on type, application, and region. Based on type, the market is segmented into naphthenic oil, paraffinic oil, bio-based oil, and silicone oil. Among these, naphthenic oil accounted for around 48% market share in overall transformer oil sales revenue. Based on the application, the market is segmented into large transformers, small transformers, utility & others. Based on the region, the market is segmented into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Transformer Oil Market Regional Analysis:
Asia-Pacific has emerged as the fastest growing market accounting to the 40% of market share followed by North America and Europe. APAC is expected to retain its dominance throughout the forecasting period. According to International Energy Agency, Asia’s share in world energy consumption is expected to rise 38% in 2010 to 51% in 2030. Among countries in Asia, China and India are estimated to account for more than 60% share in overall energy consumption. The estimated per capita energy consumption is relatively low in those countries.
North America and Europe region is expected to compete with each other in terms of both value and volume. The growth for transformer oil will be slower in Americas and Europe region, as they are more depended on renewable sources then conventional sources of energy.
Transformer Oil Market Table of Content:
1 Report Prologue
3 Research Methodology
4 Market Dynamics
5 Transformer Oil Market, By Type
Transformer Oil Market Table of Content to be Continue……,
Complete List of Tables and Figures @ https://www.marketresearchfuture.com/reports/transformer-oil-market-1769
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About the AuthorMoin Patni
Joined: February 20th, 2018
Articles Posted: 412
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