Transformer Oil Market Expected to Reach USD 3,614.1 Million by 2022 at a CAGR of 8.29%
PUNE, India, April 18, 2017 /PRNewswire/ -- /MRFR Press Release/ - Market Research Future published a cooked research report on "Global Transformer Oil Market" – Market Analysis, Scope, Stake, Progress, Trends and Forecast up to 2022.
Global Transformer Oil Market - Overview
As per Market Research Future analysis, the global Transformer Oil Market has witnessed a remarkable growth in the past which will continue in the future as well. Transformer Oil Market is estimated to grow globally at 8.29% CAGR accounting to USD 3,614.1 during the forecasting period – 2016 – 2022
The over growth of the market is attributed towards transition of renewable energy sources, power grid up gradation in Europe & North America and electricity grid expansion owing to increasing energy demand in developing countries in Asia.
The global 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. This factor would retain its dominance till the end of forecasted period. However, prominent trends in the market such as increasing environmental concerns and increasing stringent regulations regarding fire safety are anticipated to boost market demand for bio based and silicone oil over the forecast period.
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 2016, states the team Research Analyst while commenting upon this deep diving Market study report presented through more than 150 market data tables and figures spread in more than 160 pages of the project report.
Browse Report Details @ https://www.marketresearchfuture.com/reports/transformer-oil-market-1769
Global Transformer Oil Market - Key Players
The key players of Global Transformer Oil Market include- Nynas AB, Ergon Inc., Petrochina Company Limited, APAR Industries Limited, Calumet Specialty Products Partners L.P., Sinopec Corporation, Hydrodec Group PLC, and Cargill Incorporated.
Some other prominent players include - Engen Petroleum Limited, Valvoline, San Joaquin Refining Co. Inc., and Gandhar Oil Refinery India Limited.
Key Findings
- Naphthenic accounted for the largest market share of 54.60% in 2014, 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 2014, 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 2014, 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
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Global 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.
Global Transformer Oil Market - Segments
For an Easy understanding; the Global transformer oil market has been segmented into 3 Key Dynamics-
Segmentation by Type: Naphthenic, Paraffinic, Silicone Based and Bio Based
Segmentation by Application: Small Transformer, Large Transformer, Utility and others
Segmentation by Region: North America, Europe, Asia-Pacific and RoW
Browse Related Report:
Transformer Monitoring System Market Information Report by Type (Hardware Solutions, Software Solutions), By Service (Oil/Gas Monitoring, Bushing Monitoring), By Application (Distribution Transformers, Power Transformers) and By Region - Global Forecast To 2022
https://www.marketresearchfuture.com/reports/transformer-monitoring-system-market-2311
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SOURCE Market Research Future
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