Transformer oil market demand to be pushed by rising adoption of grid infrastructure
Date: 2018-07-20   Author: Sunil Hebbalkar  Category: #market

Transformer oil market demand to be pushed by rising adoption of grid infrastructure

Surging investment in grid infrastructure development will reportedly boost transformer oil market share. Experts claim that the growing energy need and shifting focus of regional governments on the development of rural electrification program is likely to augment product demand in the years ahead.

Five trends influential in transformer oil market:

  • As per estimates, in 2017, power transformers held 57% of the overall transformer oil industry share. The heavy investments in grid infrastructure development across developing countries is poised to impel the product demand in the future.
  • Driven by high operational compatibility and ease of availability, mineral-based transformer oil industry will register an annual growth rate of more than 5% over 2018-2024. Other significant characteristics of the products such as good oxidation capability and high-temperature viscosity will also further expedite the industry growth.
  • In 2017, U.S. transformer oil generated revenue of approximately USD 200 million. Shifting trends toward renovation of existing grid infrastructure and heavy investment in the deployment of effective grid facilities is slated to boost product demand.
  • Aided by the extensive deployment of distribution transformers in rural areas, distribution transformer oil market will record a CAGR of more than 6.5% over 2018-2024. The growing acceptance of these transformers across consumer terminals is slated to boost product demand, cite reports.
  • In 2017, China transformer oil market generated a revenue of USD 250 million and will collect a significant revenue at an annual growth rate of more than 5% over the years ahead. The National Energy Administration of China has implemented a five-year investment plan for power grid restoration and construction, which will have considerable influence on industry growth.

The leading contributors of transformer oil market including Valvoline, Nynas, Apar Industries Ltd., Dow Chemical Company, Cargill, Hydrodec Group, and Clearco are eyeing to gain competitive benefits by implementing numerous business strategies.

About Author

Sunil Hebbalkar

Sunil Hebbalkar

Sunil currently works as an content writer at AlgosOnline. A Post graduate mechanical design engineer by qualification, he worked as an intern at the defense lab for one year in the engine design and development department before switching his professional genre. Foll...

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