TMRReportsMagazine2017 Transformer Oil Market to grow at CAGR of 5.70% | Page 2

Global Transformer Oil Market
REPORT DESCRIPTION
Global Transformer Oil Market – Global Industry Analysis, Size, Share,
Growth, Trends, and Forecast 2016 – 2024
The global market for transformer oil is currently strongly consolidated in nature, and is likely to
remain in a similar state over the coming years, according to a new research study by Transparency
Market Research (TMR). The five leading players in the market – ExxonMobil, Shell, Nynas AB, and
Sinopec – took up over 45% of its overall value in 2015. The key players are dedicating more of their
assets on the developing of novel, safe, and green bio-based transformer oils to be made commercial
at competitive prices, in an effort to reinforce their status in the global transformer oil market in the
coming years.
As stated in the TMR research report, a greater proportion of the leading entities in the global
transformer oil market have established strong channels in sales and distribution. As a result, the
competitive landscape in the market is expected to steadily become more intense in the years to
come. The global transformer oil market was valued at US$1.99 bn in 2015. Analysts have predicted
it to expand at a CAGR of 5.70% in value, during the forecast period from 2016 to 2024. The market
should reach US$3.26 bn by the end of 2024, after continuing at the given rate.
Browse Market Research Report @ http://www.transparencymarketresearch.com/transformer-
oil-market.html
Distribution Transformers to Retain Leading Demand Scales in Market
With power transformers and distribution transformers as the key application segments for
transformer oil, the demand for this oil from the former has so far been greater, owing simply to the
higher number of distribution transformers than power transformers. “This scenario is likely to
continue over the coming years, a factor attributed to the snowballing of multiple profitable initiatives
taken up by several governments,” states a TMR analyst.
A majority of these projects and initiatives are aimed at increasing the power infrastructure,
specifically in emerging economies from Latin America, Asia Pacific, and Africa. In 2015, Asia Pacific
led the global transformer oil market with a share of over 43%, and is expected to remain in the lead,
thanks to the rising emphasis on the advancement of the power infrastructure in key Asian countries.
Increasing Need to Expand Power Infrastructure in Emerging Economies to Boost Growth
“The global market for transformer oil is currently experiencing an optimistic rate of growth, primarily
Transparency Market Research
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