Transformer Oil Market 2018 - Company Details, Development Drivers and Competitors Analysis of International Market with Growth Share, Size to 2023
— Transformer Oil Market is Estimated to Grow Globally at 8.63% CAGR Accounting to USD 4,002.8 Million 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.), and Gandhar Oil Refining (India).
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.
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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 Key Findings:
Transformer Oils Market is projected to reach USD 4,002.8 Million by 2023 expanding with a healthy CAGR over the forecast period. 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.
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 Competitive Analysis:
The industry has players in the segment who are effectively utilizing their prime resources to start up a long-lasting growth period in the market. Volume-driven growth trends have been witnessed in the sector recently with the growth of diverse product types. The sector’s significant transformation has enhanced the progression pace of the sector. Companies are trying to capture a considerable share of the market segment through experimentation, with several advantage points implemented. The opportunities for this sector’s long-term development can be capitalized upon by ensuring ongoing process improvements and maintaining financial liquidity to invest in the optimal strategies.
The global transformer oil market has key players such as APAR Industries Limited, Petrochina Company Limited, Cargill Incorporated, Calumet Specialty Products Partners L.P., Nynas AB, Ergon Inc., Sinopec Corporation, Hydrodec Group PLC to list a few of the players.
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……,
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Name: Abhishek Sawant
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