London, 15 June 2015 – Technavio has published a new report on the global transformer oil market, which is expected to grow at a CAGR of 9% from 2015-2019.
About the Report
According to the new market research report by Technavio, rapid industrialization and urbanization in developing countries and the resultant demand for power generation, distribution and transmission has led to widespread use and installation of power and distribution transformers.
“China and India are predicted to account for a collective 42% of the market share in the next two years, which will increase further by 2019,” says Faisal Ghaus, Vice President of Technavio.
“Since the demand for transformer oils is directly proportional to the demand for power transformers, the market should see significant growth during the forecast period, especially in developing countries,” adds Ghaus.
The new Technavio report also indicates the increasing number of fire accidents in mineral oil based transformers, and the non-biodegradable nature of mineral oil has led to a tremendous rise in the consumption of bio-based transformer oil, which is expected to continue through the forecast period.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global transformer oil market from 2015-2019. To calculate the market size, we consider revenue generated from the sales of three types of transformer oils:
- Mineral-based (paraffinic and naphthenic transformer oil)
- Bio-based
- Silicone-based
Key Information Covered in the Report:
Key Vendors:
- Calumet Specialty Products Partners LP
- Ergon Inc.
- Nynas AB
- PetroChina Co. Ltd.
Market Growth Drivers:
- Increased demand for electric power from developing countries
- For a full detailed list, view our report.
Market Challenges:
- Use of dry-type transformers
- For a full detailed list, view our report.
Market Trends:
- Inclination toward bio-based transformer oil
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Ca%20href%3D%22http%3A//www.technavio….
