LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global liquid-immersed transformers market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The research report by Technavio on global liquid-immersed transformers market provides segmentation based on application (power and distribution transformers) and geography (APAC, EMEA, and the Americas).
The global liquid-immersed transformers market size is expected to reach USD 35.1 billion by 2021, growing at a CAGR of close to 5% through the forecast period. APAC is the leading regional segment of the market, responsible for generating maximum revenue and highest incremental growth through 2021.
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The top three emerging trends driving the global liquid-immersed transformers market according to Technavio heavy industry research analysts are:
- Environmentally friendly and fire-resistant insulating liquids
- Evolution of eco-efficient power transformers
- Increasing popularity of bio-based and naphthenic transformer oil
Environmentally friendly and fire-resistant insulating liquids
“Liquid-transmission transformers are mainly adopted in locations where environmental concerns and fire hazard safety are matters of concern. This has encouraged various transformer manufacturers to focus on their R&D for the development of transformers that operate on non-mineral transformer insulating liquids,” says Gaurav Mohindru, one of the lead analysts at Technavio for engineering tools research.
Big players like Siemens have increased their focus on the development of alternative transformer insulating liquids to ensure a safe and eco-friendlier future. Mineral oil is the most commonly used type of transformer insulating medium as well as a heat transfer medium. The popularity of these alternative insulating fluids will increase, thereby leading to the growth of the liquid-immersed transformer market during the forecast period.
Evolution of eco-efficient power transformers
Transformer manufacturers are focusing on the design and manufacture of environmentally-friendly transformers that are negligibly hazardous while offering improved life cycle costs with minimal maintenance. These transformers offer reduced carbon footprint, reduced levels of pollution, enhanced lifecycle costs, enhanced product lifetime, and enhanced fire safety. They are also equipped with advanced online monitoring systems, which helps in improving operational management and prevent the occurrence of faults and damages. These factors are driving the increased adoption of liquid-immersed transformers on a global scale.
Increasing popularity of bio-based and naphthenic transformer oil
“Utilization of bio-based transformer oil is on the rise owing to the increased safety against fire hazards that they provide, and the non-biodegradable nature of mineral oil. Bio-based oil is incombustible and non-toxic attributes, which has boosted its use in transformers,” says Gaurav.
The market share for bio-based oil will be anticipated to increase in the future, due to the performance and economic advantages that it provides. The overall demand for naphthenic oils is predicted to increase over the forecast period, from metal shaping and forming processes, including structural steel, automotive body panels, and other components. This trend of adopting bio-oils will significantly impact the market growth through the forecast period.
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