Transformer Oil Market by Type (Mineral- Naphthenic and Paraffinic), by Application (Small transformers, Large Transformers, Utility & Others), & Region (Asia-Pacific, North America, Europe, ROW) - Global Trends & Forecasts to 2020
Transformer Oil market: USD 2.79 Billion market 2020 with a projected CAGR of 7.1% to 2020.
Increasing demand for the dry type transformers and the corrosive effect of sulfur present in transformer oil are major restraints for the transformer oil market. To counter the economic slump in European countries, transformer oil manufacturers are trying to expand their geographic presence and market penetration in other regions through the launch of new and advanced products and technologies.
The transformer oil market has exhibited steady growth over the last few years because of its increasing application in small transformers, large transformers, and utilities in emerging economies such as China and India. National utility companies across the world continue to invest in their power grids in order to meet the increasing demand of end-users giving scope for transformer oil market.
Small transformer is the largest application segment of the transformer oil market. With national governments ramping up power generation capabilities, the demand for transformer oil is expected to increase.
The increasing demand from OEMs, coupled with expansion of electric grids in BRICS nations is expected to drive the global transformer oil market.
The transformer oil market has been segmented into four regions—namely, North America, Europe, Asia-Pacific, and Rest of the World (Africa, Latin America, and the Middle East). The report also touches on various other important aspects of the market.
It includes an analysis of the supply chain, Porter’s Five Forces analysis, and a competitive landscape. In addition, 12 key players of this market have also been profiled.
Transformer oil or dielectric fluid is a highly refined mineral oil which is stable at high temperatures and has excellent dielectric and cooling properties. It is mainly used in oil-filled transformers as an insulating and cooling medium.
Apart from this application, transformer oil is also used in few types of high voltage capacitors, high-voltage switches, and circuit breakers. The major functions of transformer oil are to insulate, suppress corona and arcing, and to behave as a coolant.
But, the increasing use of dry type transformer oil and corrosive effect of sulfur present in transformer oil has limited the growth of this market.
Various secondary sources, such as encyclopedias, directories, and databases have been used to identify and collect information useful for this extensive commercial study of the global turbo compressors market. Primary sources, such as experts in the industry and suppliers, have been interviewed to obtain and verify critical information as well as to assess the future prospects of the transformer oil market.
Leading market players have also been profiled and their recent developments and other strategic industry activities have been provided. These include Nynas AB (Sweden), Ergon Inc.
(U.S.), Petro China Company Limited (China), Apar Industries Limited (India), and Calumet Specialty Products Partners, L.P. (U.S.).
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