Energia
Transformer Oil Market Worth $3.0 Billion by 2025 - Exclusive Report by MarketsandMarkets™
The transmission and distribution segment is projected to be the most significant Transformer Oil Market, by end-user, during the forecast period. It has the largest share of the Transformer Oil Market owing to the global growth in the production and consumption of electricity. Transmission and distribution utilities own and operate the transmission and distribution system. Thus, growing demand for power will necessitate the expansion of the transmission and distribution network, thereby enhancing the demand for electrical components, such as transformers, reactors, and switchgears, leading to an increase in the demand for transformer oil.
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The mineral oil segment is expected to grow at the highest rate during the forecast period. Mineral oil is mainly used for cooling and insulation purposes in transformers, reactors, and switchgears. It is also used for heat dispersion and to protect the transformer's internal windings. Mineral oil is further segmented into naphthenic and paraffinic oil, and a majority of the existing and new transformers manufactured use mineral oil as the cooling fluid. The demand for mineral oil is expected to grow during the forecast period because of its easy availability and low cost compared to other transformer oils.
In this report, the Transformer Oil Market has been analyzed for 4 regions, namely APAC, North America , Europe , and RoW. APAC is expected to lead the market during the forecast period.
The rapid increase in the demand for electricity and an increase in the power generation capacity in developing countries such as India and China , along with the growth in industrial and commercial sectors, will lead to an increase in the number of substations. Growth in the number of substations will propel the demand for transformers, which will enhance the demand for transformer oil in APAC.
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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the . These include Nynas AB ( Sweden ), Ergon International ( Belgium ), Petrochina Company Limited ( China ), Apar Industries ( India ), and Sinopec Lubricant ( China ). The leading players are trying to establish themselves in the markets of developed countries and are adopting various strategies to increase their respective market shares.
Distribution Transformer Market by Mounting (Pole, Pad, and Underground), Insulation (Dry and Oil Filled), Phase (Single and Three), Power (Up to 0.5 MVA, 0.5 MVA–2.5 MVA, 2.5 MVA–10 MVA, Above 10 MVA), and Region - Global Forecast to 2021
Power Transformer Market by Rating (Small Power Transformer (Up to 60MVA), Medium Power Transformer (61 – 600MVA), Large Power Transformer (Above 600MVA)), Type of Cooling Method (Oil-Cooled and Air-Cooled), & Region - Global Trends & Forecasts to 2020
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