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Global Transformer Oil Market Projected to Reach US$ 3.8 Bn by 2025 End

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 Published Date : 20 Nov 19   |   Views: 39   |  Industry : Chemical & Material

Global Transformer Oil Market Projected to Reach US$ 3.8 Bn by 2025 End

QYR Consulting has come with a new report on the global Industrial Robot market titled, “Transformer Oil Market Report: Company Analysis, History and Future Overview, Global Sales Trends by 2025”. According to this report, the worldwide Transformer Oil market accounted for US$ 3.0 Bn, in 2018 and is predicted to reach US$ 3.8 Bn by the end of 2025. The global Transformer Oil market is estimated to register a sluggish CAGR of 3.4 % over the forecast period, i.e. between 2019 and 2025. Insulating oil or Transformer Oil is mainly utilized in transformers for insulation and cooling.

Segmental Analysis

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.

 

Global Transformer Oil Market Projected to Reach US$ 3.8 Bn by 2025 End

Asia-Pacific

Global Transformer Oil Market Projected to Reach US$ 3.8 Bn by 2025 End

Regional Analysis


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.

 

Key Players


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.

 


Global Transformer Oil Market Projected to Reach US$ 3.8 Bn by 2025 End

Global CAGR During 2019-2025


3.4%

Market Dynamics


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


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