The report forecasts the global transformer oil market to grow at a CAGR of 8.96% during the period 2016-2020.
One trend that could lead to market growth will be the evolution of eco-efficient power transformers. Several transformer manufacturers have started to design and manufacture environment-friendly products based on customer demand. Customers need transformers that are negligibly hazardous to the environment and offer improved life cycle costs, with minimal maintenance requirements and enhanced service lifetime.
According to the report, one of the key drivers for market growth will be expanding the capacity of renewable power generation. In 2014, renewable energy sources approximately accounted for about 59% of the net additions to the global power generation capacity. All geographic regions exhibited significant growth in this sector. Dominating renewable energy segments included wind, solar PV, and hydropower. By the end of 2014, renewable energy sources accounted for about 28% of the total power generation capacity, an increase of 6% from 2013, which was enough to produce approximately 23% of electricity generated globally.
Further, the report states that emergence of dry-type transformers will be a challenge for the market.
- Apar Industries
- Ergon Energy
Key Topics Covered:
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market drivers
PART 07: Impact of drivers
PART 08: Market challenges
PART 09: Impact of drivers and challenges
PART 10: Market trends
PART 11: Market segmentation by product
PART 12: Geographical segmentation
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: Appendix
For more information about this report visit http://www.researchandmarkets.com/research/ghxw76/global
Related Topics: Electricity