Transformer oil is an oil used in oil filled transformers for insulation purposes. It is also used as a coolant and to prevent arcing and corona discharges in a transformer.
Albany, NY -- (SBWIRE) -- 06/19/2017 -- Due to the increasing need for power across the globe, the global transformer oil market is witnessing a high growth rate. The increasing distribution of oil filled transformers in emerging nations, such as China and India, where the emphasis of the governments is to develop the power infrastructure is also boosting this market considerably. A new market report labeled as "Transformer Oil Market - Global Industry Analysis Size Share Growth Trends and Forecast 2016 – 2024" has been added to the vast online portfolio of Market Research Reports Search Engine (MRRSE). This report is an in-depth and professional analysis of the current market state as well as the future prospects of the global transformer oil market.
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The global transformer oil market is expected to surge at a CAGR of 5.70% between 2016 and 2024. At this pace, the market is likely to reach a valuation of US$3.26 billion by 2024 from US$1.99 billion in 2015. The report provides forecast for the period from 2016 to 2024 in terms of volume (kilo tons) and revenue (Billion US$). Quantitative data is determined through extensive primary and secondary research of the global transformer oil market. Secondary research sources cover company websites, reliable magazines, government data, and press releases. An in-depth analysis of different factors driving the global transformer oil market is included for accurate decision making. Impact of these factors during the assessment period is included with information to substantiate research conclusion. Moreover, factors restraining market growth are covered for better understanding of the industry. Impact of these restraints is studied over the forecast period. The report also includes several opportunities available for market growth over the coming eight years.
The global transformer oil market is segregated on the basis of product type into silicone based, mineral oil and bio based transformer oil. The mineral oil segment is further divided into naphthenic oil and paraffinic oil. On the basis of application type, the transformer oil market is segregated into distribution transformers, power transformers and others application segment. In terms of geographic region, the market is segmented into Asia Pacific, North America, Europe, Latin America, and Middle East and Africa. Demand for transformer oil in each segment type is studied and forecast for a period of eight years is provided in the report.
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The report also includes profiles of top companies operating in the global transformer oil market. Some of the players profiled in the report include Sinopec Corp., ExxonMobil Corp., Royal Dutch Shell Plc, Cargill Incorporated, Nynas AB, Apar Industries Ltd., Gulf Oil Middle East Ltd. and Ergon Inc. among others. Different attributes of these companies such as business strategies, company overview and major recent developments form the core of the company profiles section.
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