The latest report on Transformer Oil Market by Infinium Global Research gives complete coverage of the Transformer Oil Market by in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Transformer Oil such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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Transformer Oil is also Used to Preserve the Transformer’s Core and Windings as These are Fully Occupied into the Oil
Transformer oil is used to dissipate the heat generated in electric transformers, switches, circuit breakers, and motor starters, etc. Transformer oil is an insulating oil that is stable at extreme temperatures and has superior electrical insulating characteristics. It is used in oil-filled transformers, fluorescent lamp ballasts, high-voltage capacitors, and high-voltage switches as well as circuit breakers.
Transformer oil is also used to preserve the transformer’s core and windings as these are fully occupied into the oil. The transformer oil has high resistivity leading to superior insulation between windings, high thermal stability facilitating a decrease in evaporation losses, excellent dielectric properties and aging characteristics, steadiness at high temperatures and availability in a broad range of grades to meet every requirement.
Expansion in the power sector to meet growing electricity requirements is the major driving factor of the transformer oil market. Furthermore, the factors such as modernization of existing power grids, growth in the renewable energy sector, rising transmission and distribution projects are driving the market growth. Rising demand for transformation of aging grid infrastructure coupled with large-scale capacity addition is boosting the market growth.
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Increasing Demand for Electricity Across the Globe is fuelling Market Growth
Increasing demand for electricity across the globe is fueling market growth. However, strict environmental sustainability laws and shift towards organic oils hamper the growth of the market. Moreover, increasing demand for bio-based transformer oil and rising power requirement in Asia-Pacific & Africa region are anticipated to provide growth opportunities to the market players.
Geographically, Asia-Pacific dominates the global transformer oil market due to the growing demand for electricity, particularly in densely populated countries such as India and China and enhancement of grid infrastructure. Large investments by governments in electrical infrastructure projects will increase the demand for transformer oil in this region. North America is the second largest market due to the presence of well-established market players, and rapid technological advancements in this region.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Transformer Oil.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.