Global Transformer Oil Market
owing to the growing demand for power across the world, along with improvements in efficient power distribution. The need to expand infrastructure in the power sector is especially high in emerging economies including China and India, which is expected to increase the distribution of oil-filled transformers in the near future, boosting the global transformer oils market significantly,” adds the analyst.
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Over the given forecast period, the continuous renovation and repairs in the existing power sector infrastructure is also expected to spur the demand for transformer oil. However, the emergence of smart transformers and dry transformers may limit the growth of this market in the years to come, notes the research study.
Power Transformer Usage to Rise
Power transformers are expected to show a significant upswing in usage, ramping up their demand for transformer oils in the years to come. Other application areas, such as switchgears, circuit boards, and high voltage capacitors are expected to hold a much smaller share in the global transformer oil market. As for the type of oils, the demand for mineral oil is higher and trend is expected to remain so over the next few years. However, the demand for bio-based oil is likely to increase at a significant rate in the near future.
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TABLE OF CONTENT
1. Preface 1.1. Report Scope and Market Segmentation 1.2. Research Highlights
2. Assumptions and Research Methodology 2.1. Assumptions and Acronyms Used 2.2. Research Methodology
3. Executive Summary 4. Market Overview
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