Report Description
A recent market
intelligence report that is published by Data Insights Partner on the
global Transformer Oil Market makes an
offering of in-depth analysis of segments and sub-segments in the regional and
international Transformer Oil Market. The research also emphasizes on the impact of restraints,
drivers, and macro indicators on the regional and global Transformer
Oil Market over the short as
well as long period of time. A detailed presentation of forecast, trends, and
dollar values of global Transformer Oil Market is offered. In accordance with the report, the global
Transformer Oil Market is projected to
expand by healthy CAGR over the period
of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Transformer
oil is also known as an insulating oil and does the function of a coolant.
These oils are sturdy at high temperatures and consists of exceptional
insulating properties for electrical equipment. It performs as an insulator and
a coolant. It also overpowers arching and corona discharge. Since transformer
oil is an insulator and a coolant, it is chemically stable, thermally
conductive and dielectrically strong. It is basically used in oil-based
transformers. It is also used in high-voltage switches and capacitators,
circuit breakers and in fluorescent lamp ballasts.
Market Drivers
The
evolution of electric grids especially in the developed countries and the
introduction and expansion of market for electric power grids is providing the
initial impetus to the growth of the transformer oil market.
Rapid
urbanization and industrialization and the consequent infrastructural
development are generating newer sources of demand for electricity. The growing
demand for electricity coupled the expansion of various avenues of the power
sector and soaring investment in the power sector is empowering the growth of
this market structure.
The
upgradation of traditional transformers and the substitution of older
transformers with new ones are positively fueling the growth of the transformer
oil market.
The
booming service sector and the constantly flourishing distributional channels
to satiate the consumer demands is charging this market.
With
the robust expansion in the disposable income of the consumers and population
growth, the use of technically advanced electronic devices has upsurged and has
indirectly propelled the growth of the transformer oil market.
The
transition of consumer preference from the use of non-renewable sources of
energy to the use of renewable sources of power is indirectly pushing this
market ahead.
Market Restraints
The
soaring demand for dry-transformers from the residential, industrial and
commercial sector is negatively impacting the demand for oil-based transformers
and in turn the transformer oil market.
The
fluctuating prices of raw materials especially crude oil that are used in the
production of transformer oil is hindering the prospects of this market.
Opportunities
Changing
preference and the soaring inclination in the adoption of bio-oil based
transformers is likely to create lucrative opportunities for this market.
Hard
and fast legislative verdicts on behalf of the government in expanding the
development of well-grounded grid networking system are good scopes for this
market. Moreover, the favorable directives of the governments across the globe
for adherence to renewable sources of power and the feed-in-tariff policies of
the government is likely to provide bankable opportunities to this market in
the near future.
The
undertaking of development strategies like rural electrification by the
governments and the sponsorship undertaken by non-profit seeking organizations
is a good set of circumstances for this market. For instance, the Sustainable
Energy for All incentive of the World Bank to ensure the accessibility of
electricity by everyone by 2030 is supposed to widen the electric power grid
and have positive impact on this market.
Trends
Asia
Pacific is expected to project significant development in the forecast period
owing to rapid industrialization, urbanization, growing demand for electricity
to satisfy the diversified needs of the consumers, the adoption of renewable
sources of energy and birth and expansion of power grids. North America is also
expected to project positive growth because of the soaring budget allotment in
the development of infrastructural facilities and upgradation of the already
existing power grids. The market of Europe is also likely to show progress
because of the rising adoption of smart power grids and adoption of sustainable
sources of energy. Latin America will also show some development in this market
owing to the adoption of sustaining energy sources.
Segment Covered:
This market
intelligence report on the global Transformer Oil Market encompasses market segments based on product type, application,
end use and country.
By
Product Type the global Transformer Oil Market has been divided into:
q Bio-based
q Silcone
q Mineral
By Application the global Transformer
Oil Market has been divided into:
q Reactor
q Switchgear
q Transformer
By End
Use the global Transformer Oil Market has been divided into:
q Power
Generation
q Railways
and Motors
q Transmission
and Distribution
q Others
By country/region,
the global Transformer Oil Market has been divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Ergon
International
q Nynas
AB
q Apar
Industries
q Petrochina
Company Limited
q Calumet
Specialty Products
q Sinopec
Lubricant
q ExxonMobil
q Cargill, Incorporated
q Hydrodec Group
q Valvoline
others have been
profiled into detail so as to offer a glimpse of the market leaders. Moreover,
parameters such as Transformer Oil Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth
analysis of the micro and macro indicators, market trends, and forecasts of
demand is offered by this business intelligence report. Furthermore, the report
offers a vivid picture of the factors that are steering and restraining the
growth of this market across all geographical segments. In addition to that, IGR-Growth
Matrix analysis is also provided in the report so as to share insight of the
investment areas that new or existing market players can take into consideration.
Various analytical tools such as DRO analysis, Porter's five forces analysis
has been used in this report to present a clear picture of the market. The
study focuses on the present market trends and provides market forecast from
the year 2020-2028. Emerging trends that would shape the market demand in the
years to come have been highlighted in this report. A competitive analysis in
each of the geographical segments gives an insight into market share of the
global players.
Few Recent Developments
Nynas AB
In February
2020, the product NYTRO BIO 300X of Nynas AB was expanded in the Middle East.
The Product is the globe’s former high-performing bio-based hydrocarbon fluid
of a transformer.
Ergon International
In January 2020,
the expansion of naphthenic refinery of Ergon International located at
Vicksburg, Mississippi took place. This expansion was supposed enhance the
market position of the company and have long term positive impact.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Transformer
Oil Market, size of the market (US$ Mn), and Compound
Annual Growth Rate (CAGR (%)) for the period of forecast: 2020-2028, taking
into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Transformer Oil Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of Type of models, government
initiatives, marketing tactics and expansion, and technical up gradation
Ø
The world
market for Transformer Oil caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Transformer
Oil Market. The research also caters to the rising needs
of consulting and research firms, financial analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Transformer Oil Market
v
Identification
of key factors driving investment opportunities in the Transformer
Oil Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
v
Identify key
strengths and weaknesses of important market participants