Transformer Oil Market 2016 Share, Trend, Segmentation and Forecast Transformer Oil Market - Global Industry Analysis | Page 2

boards, and high voltage capacitors are expected to are anticipated to hold an
insignificant share in the worldwide market for transformer oil.
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Asia Pacific to Retain Lead in Global Transformer Oil Market
Geographically, the worldwide market for transformer oil is segmented into the
Middle East and Africa, Latin America, Asia Pacific, Europe, and North America. Asia
Pacific dominated the global market in 2015 with a share of more than 43%. Thanks
to the increasing focus of the governments in Asian countries, such as China, India,
and Korea, on the advancement of the power infrastructure in these nations, the
Asia Pacific market for transformer oil is likely to retain its dominance over the next
few years.
In developed regions, such as North America and Europe, the market for
transformer oil is in its maturity, so the growth is expected to be sluggish. Over the
coming years, these regional markets are expected to be driven by the
refurbishment of the present power infrastructure. Especially, the market in Europe
is projected to be driven by the development of offshore wind farms for power
generation.
ExxonMobil Corp., China Petroleum & Chemical Corp., Nynas AB, Royal Dutch Shell
Plc, Dow Corning Corp., Apar Industries Ltd., Cargill Inc., Calumet Specialty Products
Partners L.P., Gulf Oil Middle East Ltd., Engen Petroleum Ltd., Electrical Oil Services
Ltd., Ergon Inc., and San Joaquin Refining Co. Inc. are the key vendors of
transformer oil across the world.
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