Published Date : 20 Nov 19 | Views: 131 | Industry : Chemical & Material
Enhanced
Properties and High Thermal Stability Fuel Demand for Silicone-Based in Product
Segment
Based on the
product, the global Transformer Oil market is segregated into synthetic based,
mineral oil-based, silicone-based, and other. Mineral-based oils account for a
substantial share in the market, in terms of volume. This is due to high
compatibility with various equipment and ease of availability making it a
preferred choice for extensive usage in circuit breakers, high voltage
switches, and capacitors. Silicone-based Oil has high thermal stability
although, its limited availability and fluctuations in prices is affecting its
growth potential. However, it offers an advantage over conventional mineral
oils due to its enhanced properties and high compatibility with equipment.
Infrastructure
Development in Asia-Pacific Region Offers Wide Scope for the Market in Future
The region of Asia
Pacific is projected to witness growth in developing countries such as India
and China, which are undergoing a massive rural and urban infrastructure
development. Rapid modernization in these countries has led to large scale
replacement of high capacity transformer to mid-sized and small transformers
for agriculture and domestic usage.
The region of North
America is likely to witness growth due to technical up-gradation and declining
crude oil prices.
Focus
on Improvement of Distribution Channel a Major Strategy of the Market Players
Some of the key
players operating in the global Transformer Oil market are Shel, Nynas, Jiangsu
Shuangjiang, Raj Petro Specialties, Jiangsu Gaoke, Petrochina, and Apar
Industry. Major strategies of the leading companies of the market include
improving distribution channels, gaining product accreditations, and cost
competitiveness.
Electrification
and Equipment Maintenance Drive Growth of the Market
Key factors
projected to drive the market growth are an increase in power consumption and
an emphasis on rural electrification in emerging economies such as India and
China. Growing awareness regarding equipment maintenance is an important factor
boosting the demand for the product. Increasing usage in end-use industries
such as automotive and chemicals propel market growth. Developing distribution
channels and increasing consumer requirements have positively influenced the
industry.
For further information, check: https://www.qyrconsulting.com/reports/transformer-oil-market