The modern-day document posted via Report Ocean, titled “Transformer Oil Market : Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023 to 2031,” affords a complete evaluation of the industry, which includes insights on the market trends. The file additionally consists of competitor and regional analysis, and present-day developments in the market. This document can serve as a fantastic information for investors, researchers, consultants, advertising strategists and all these who are planning to foray into the market in any form.
Transformer oil serves two important functions in a transformer i.e. suppression of arcing and dissipation of heat generated inside the transformers. Transformer oils are derived from the fractional distillation of crude oil. They are stable at very high temperature and show significant insulating properties. There are three types of transformer oil based on origin: mineral oil-based, silicone oil-based, and bio-based. The market for the transformer oils has witnessed a stable growth during past five years and this trend is expected to continue in the near future. Rising power consumption, increasing investment in the power sector and expansion of electrical grids in the developing regions are the major factors driving the growth of the transformer oils market worldwide. In 2014, the consumption of transformer oils was 1,437.8 million litres across the globe, which is expected to increase at 6.3% from 2015 to 2020. Rising production of transformers is a major factor driving the growth of the transformer oils market; however, increasing adoption of dry transformers and volatility in raw material prices further restrict the market growth.
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Transformers oils are consumed across distribution, power, and other (instrumental & others) transformers. In 2014, power transformers consumed 668.9 million litres of transformer oil. These transformers are used in various industrial applications including nuclear power plants, hydel power stations, thermal power stations, and others. Rising industrialization and modernizations supplement the demand for power transformers, which in turn lead the consumption of transformer oil.
The transformer oil market has been segmented by type as mineral oil-based, silicone oil-based, and bio-based. Furthermore, the mineral oil-based segment is sub-segmented into naphthenic and paraffinic. In 2014, the consumption of paraffinic transformer oil was the highest owing to its easy availability. Paraffinic transformer oil is extensively used in transformer cooling applications due to its good oxidative stability and high-temperature viscosity characteristics.
In terms of geography, the market has been segmented into North America, Europe, and Asia-Pacific & LAMEA. In 2014, the consumption of transformer oil in Asia-Pacific was highest due to the increasing demand for electricity, especially in densely populated countries such as India and China and enhancement of grid infrastructure and increasing investments. In addition, Asia is one of the largest consumers of transformer oil due to the increased focus of both urban and rural infrastructure.
Competitive intelligence on few prominent manufacturers of transformer oils provide key insights in terms of strategies implemented to gain significant share in the transformer oil market. For smoothening the operation and retaining competitiveness in the global market, the top players are adopting some key developmental strategies including partnerships, expansions, collaborations, joint ventures, mergers, and product launches.
COVID-19 Impact
In 2019, the COVID-19 epidemic swept the globe. It brought everything to a halt. It had an impact on the entire world economy. Moreover, a great number of people have also perished. In total, 5,091,465 fatalities and 252,297,094 cases of COVID-19 have been reported worldwide. A majority of the nations on earth were affected by the pandemic. The pandemic brought some kind of loss in the majority of industries. The epidemic caused a slowdown in the chemical industry as well. According to Statista, the business generated over US$ 3.94 trillion in worldwide sales in 2019. An all-time high of US$5.4 trillion in revenue was produced by the sector in 2014.
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The level of rivalry among well-known international corporations has been determined by studying a number of key industries, as well as market competition, market share, current developments in the sector, novel product launches, alliances, mergers, and acquisitions by key corporations.
KEY MARKET BENEFITS:
The report includes extensive analysis of the factors driving as well as restraining the global transformer oil market.
The market projections for the period 2014-2020 have been included along with factors affecting the same.
The report also provides quantitative as well as qualitative market trends to help the stakeholders in understanding the situations prevailing in the market
An in-depth analysis of key segments of the market demonstrates stakeholders with different types of transformer oil consumed across different industries on the globe.
SWOT analysis enables to study the internal environment of the leading companies for strategy formulation
Competitive intelligence highlights the business practices followed by the leading market players across various geographies
Some of the leading manufacturers profiled in this report include Nynas AB, Ergon Inc., PetroChina Company Limited, Apar Industries Limited, Calumet Specialty Products Partners, L.P., Sinopec Corporation, Hydrodec Group Plc, Cargill Incorporated, Engen Petroleum Limited, Valvoline, San Joaquin Refining Co., Inc., and Gandhar Oil Refinery India Limited.
GLOBAL TRANSFORMER OIL MARKET SEGMENTS:
The market for global transformer oil is segmented as:
Market, By Type
Mineral Oil-Based
Naphthenic
Paraffinic
Silicone Oil-Based
Bio-based
Market, By Application
Distribution Transformer
Power Transformer
Others (Instrumental & others)
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Market, By Geography
North America
US
Canada
Mexico
Europe
Russia
Germany
France
UK
Rest of Europe
?Asia-Pacific
China
Japan
India
Rest of Asia-Pacific
?LAMEA
Brazil
Argentina
Saudi Arabia
South Africa
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
In this report, the key questions answered:
- How has the adoption of Market impacted COVID-19?
- What are the key market tips in key areas?
- Which utilized sciences are most impacting the anticipated global enterprise?
- Who are the major global game enthusiasts in modern times dominating the Market?
- How do AI clients turn out to be conscious of technological knowledge in strolling theatres?
- What are the vital corporation fashions determined via way of the foremost market players?
- What are the key factors that will have an effect on the expand of Market globally?
- How foremost game enthusiasts in the Global corporation environment are incorporating key
- What is the present day income contribution of distinct product kinds in the market and what are the predicted changes?
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