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 six years.
Transformer Oil Market Key Players:
Market Research Future (MRFR) recognizes the following companies as the key players in the global transformer oils market;
· 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)
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Transformer Oil Market Regional Analysis:
Regionally, transformer oils market is classified into five regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific dominated the global transformer oils market in 2016 and accounted for more than 35% of the value share of the global transformer oils market. The regional market trends substantiating the growth of transformer oils market include the rising consumption of power and energy in the developing economies of Asia Pacific region. The up-gradation in the existing transformers in North America and Europe. Furthermore, the increasing transition from non-renewable to renewable energy sources is likely to boost the demand for large transformers over the review period, 2018-2023. The other emerging markets such as Latin America and the Middle East & Africa seems to observe a healthy market trend as Asia Pacific.
Transformer Oil Market Segmentation:
The sector for Global transformer oil includes segments on the basis of types, applications and region.
Based on Types: Naphthenic, silicone based, paraffanic, and bio based. The naphthenic type is estimated to develop at a CAGR of 8.44% during the forecast period.
Based on Application: Large transformer, small transformer, utility and others. The large transformers category is projected to grow at a CAGR of 7.99% by the year 2022.
Based on Region: Europe, Asia-Pacific, North America, and RoW. The Asia-Pacific region for transformer oils is expected to account for the chief portion in the global market.
Transformer Oil Market Table of Content to be Continue……,
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