Transformer Oil Market 2016 Trends, Research, Analysis and Review Forecast 2024
Thanks to the increasing need for power across the world, the global transformer oil market has been witnessing a high growth rate. The rising distribution of oil filled transformers in developing nations, such as China and India, where the focus of the governments is to expand the power infrastructure is also boosting this market substantially.
Thanks to the increasing need for power across the world, the global transformer oil market has been witnessing a high growth rate. The rising distribution of oil filled transformers in developing nations, such as China and India, where the focus of the governments is to expand the power infrastructure is also boosting this market substantially.
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oards, <strong>and</strong> high voltage capacitors are expected to are anticipated to hold an<br />
insignificant share in the worldwide market for transformer oil.<br />
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Asia Pacific to Retain Lead in Global <strong>Transformer</strong> <strong>Oil</strong> <strong>Market</strong><br />
Geographically, the worldwide market for transformer oil is segmented into the<br />
Middle East <strong>and</strong> Africa, Latin America, Asia Pacific, Europe, <strong>and</strong> North America. Asia<br />
Pacific dominated the global market in 2015 with a share of more than 43%. Thanks<br />
to the increasing focus of the governments in Asian countries, such as China, India,<br />
<strong>and</strong> Korea, on the advancement of the power infrastructure in these nations, the<br />
Asia Pacific market for transformer oil is likely to retain its dominance over the next<br />
few years.<br />
In developed regions, such as North America <strong>and</strong> Europe, the market for<br />
transformer oil is in its maturity, so the growth is expected to be sluggish. Over the<br />
coming years, these regional markets are expected to be driven by the<br />
refurbishment of the present power infrastructure. Especially, the market in Europe<br />
is projected to be driven by the development of offshore wind farms for power<br />
generation.<br />
ExxonMobil Corp., China Petroleum & Chemical Corp., Nynas AB, Royal Dutch Shell<br />
Plc, Dow Corning Corp., Apar Industries Ltd., Cargill Inc., Calumet Specialty Products<br />
Partners L.P., Gulf <strong>Oil</strong> Middle East Ltd., Engen Petroleum Ltd., Electrical <strong>Oil</strong> Services<br />
Ltd., Ergon Inc., <strong>and</strong> San Joaquin Refining Co. Inc. are the key vendors of<br />
transformer oil across the world.<br />
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