About Transformer Oil
Transformer oil is generally used as an insulation and arc-quenching medium in power and distribution transformers. Windings use cellulose insulation, which has a strong affinity for oxygen and is immersed in transformer oil to prevent oxidation. Transformer oil is produced by the fractional distillation and subsequent processing of crude oil. It also finds application in circuit breakers and switchgear that are traditional and use oil as the arc-quenching fluid.
Technavio’s analysts forecast the global transformer oil market to grow at a CAGR of 8.96% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global transformer oil market for 2016-2020. To calculate the market size, Technavio has considered the demand for transformer oil from power and distribution transformers across the globe.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Transformer Oil Market 2016-2020
Technavio recognizes the following companies as the key players in the global transformer oil market: Apar Industries, Ergon Energy, Nynas, PetroChina, and Sinopec.
Other Prominent Vendors in the market are: Cargill, Engen Petroleum, Hydrodec Group, San Joaquin Refining, and Valvoline.
Commenting on the report, an analyst from Technavio’s team said: “One trend that could lead to market growth will be the evolution of eco-efficient power transformers. Several transformer manufacturers have started to design and manufacture environment-friendly products based on customer demand. Customers need transformers that are negligibly hazardous to the environment and offer improved life cycle costs, with minimal maintenance requirements and enhanced service lifetime.”
According to the report, one of the key drivers for market growth will be expanding the capacity of renewable power generation. In 2014, renewable energy sources approximately accounted for about 59% of the net additions to the global power generation capacity. All geographic regions exhibited significant growth in this sector. Dominating renewable energy segments included wind, solar PV, and hydropower. By the end of 2014, renewable energy sources accounted for about 28% of the total power generation capacity, an increase of 6% from 2013, which was enough to produce approximately 23% of electricity generated globally.
Further, the report states that emergence of dry-type transformers will be a challenge for the market. Dry-type transformers find application in places that are prone to fire. Such places include residential complexes and commercial spaces, like shopping malls, hospitals, and airports. With urban society expanding across the globe, there has been an increasing need to expand the necessary infrastructure, which has led to a rise in the number of high-density residential areas, industrial complexes, and commercial spaces. This has compelled utility companies to focus on the design and laying of a complex T&D network to supply the requisite quantity of electric power to the end-users.
Apar Industries, Ergon Energy, Nynas, PetroChina, Sinopec, Cargill, Engen Petroleum, Hydrodec Group, San Joaquin Refining, Valvoline.
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