Transformer Oil Market Growth, Size, Demand, Trends, Insights and Forecast 2024
Category: #energy-and-environment  By Rahul Sankrityayan  Date: 2020-02-11
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Transformer Oil Market Growth, Size, Demand, Trends, Insights and Forecast 2024

Decresearch added a new report on global Transformer Oil Market to its research database. The report focuses on global major leading players with information such as company profiles, growth, product segment, technology segment, end user segment and region.

The size of Transformer Oil Market was registered at USD 2 billion in the year 2017 and is anticipated to cross USD 3 billion by 2024.One of the major trends to have impacted the growth trajectory of transformer oil market is the rising global preference toward renewable energy sources. European nations are seemingly making swift progress in upgrading their power grid networks to accommodate the switch to an energy system largely based on renewables. After phasing out nuclear and fossil fuel-based energy generation systems, Germany has intensified its efforts to construct new cross-country high-voltage direct current (HVDC) power lines to ensure smooth energy transition.


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Taking concrete steps in that direction, the nation has recently proposed a new Power Grid Action Plan to accelerate the power grid expansion by fixing technical glitches, incorporating cutting-edge technology, and enhance the flexibility of grid network. Apparently, the action plan would update transmission grids to run more power through them to bridge the gap until new HVDC lines are up and running by 2025.

The successful implementation of this plan calls for effective usage of power transformers at the receiving and finishing end of HVDC lines. Needless to mention, an increased investment in deploying power transformers would benefit the Germany transformer oil industry. Apparently, this goes on to demonstrate the prominence of power transformers in the overall revenue contribution of this industry. As per reliable estimates, power transformers held more than 57% of the total transformer oil market share in the year 2017 and the segment is expected to grow in the immediate future as well.

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Power transformers accounted for over 55% of the global transformer oil market share in 2017. Stringent regulatory measures for the development of energy efficient grids coupled with expansion of power networks in developing nations will strengthen the product demand. Extensive use of power transformers at the receiving and finishing end of high voltage transmission lines will further stimulate the industry landscape.

The China transformer oil market in 2017, accounted for over USD 250 million. Increasing investment for the restoration of aging grid infrastructure coupled with rapid urbanization will boost the industry growth. The National Energy Administration of China in 2015 announced its five-year investment plan toward power grid construction and restoration. Furthermore, an investment worth USD 302 billion was made to expand the transmission lines comprising of medium and high voltage networks.

Eminent industry leaders in the transformer oil market include APAR industries, Calumet, Valvoline, Cargill, Hydrodec, Nynas, Clearco, Electrical Oil Services, DOW Chemical and Engen amongst others. Strengthened distributary network annexed with product accreditations and cost competitiveness will serve as a vital strategic asset offering competitive edge across the industry.

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About Author

Rahul Sankrityayan

Rahul Sankrityayan    

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Technology Magazine, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experie...

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