DUBLIN--(BUSINESS WIRE)--The "Global Transformer Oil Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2017 to 2025" report has been added to Research and Markets' offering.
The Global Transformer Oil Market is expected to reach US$ 5.3 Bn by 2025, expanding at a CAGR of 4.7% during the forecast period 2017 - 2025.
Increasing power demand due to growth in industrial, commercial and residential establishments fueling the demand for electricity across the globe which in turn is driving the demand for transformers subsequently increase the demand for transformer oil.
Besides this, favorable government initiatives in key consuming economies such as India to completely move to electric vehicles on the road by 2030 which is expected to fuel the electricity consumption in India which is subsequently fueling the demand for transformer oil.
Furthermore, rapid growth in rural electrification due to various government initiatives in emerging economies such as India and China is expected to impel the growth in demand of transformer which is subsequently projected to drive the demand for transformer oil over the forecast period.
However, growing inclination towards dry type transformer and corrosive nature of transformer oil due the presence of sulfur content is projected to hamper the growth of transformer oil over the forecast period (2017-2025).
Asia Pacific was estimated to be the largest market for transformer oil in 2016 and projected to maintain its dominance during the forecast period. Rapid urbanization and growing industrial manufacturing and high growth in rural electrification is expected to impel the electricity consumption in the region which in turn is anticipated to drive the growth of the segment during the forecast period.
Major players in global transformer oil market are investing in research and development, merger and acquisition with focus on improve their product portfolio and market penetration.
Key Topics Covered:
2. Executive Summary
3. Global Transformer Oil Market Dynamics
4. Global Transformer Oil Market Size & Forecast (US$ Mn), By Type, 2015 - 2025
5. Global Transformer Oil Market Size & Forecast (US$ Mn), By Application, 2015 - 2025
6. Global Transformer Oil Market Size & Forecast (US$ Mn), By Geography, 2015 - 2025
7. Company Profiles
- Calumet Specialty Products Partners, L.P.
- Cargill, Incorporated
- Engen Petroleum Limited
- Ergon Inc.
- Gandhar Oil Refinery India Limited
- Hydrodec Group PLC
- Nynas AB
- Petrochina Company Limited
- San Joaquin Refining Co., Inc.
- Sinopec Corporation
For more information about this report visit https://www.researchandmarkets.com/research/rh5tq3/global