Transformer Oil Market to grow at CAGR of 7.14% by 2020

Research and Markets has announced the addition of the “Transformer Oil Market by Type (Mineral- Naphthenic and Paraffinic), by Application (Small transformers, Large Transformers, Utility & Others), & Region (Asia-Pacific, North America, Europe, ROW) – Global Trends & Forecasts to 2020” report to their offering.

According to the report, the transformer oil market size will grow from $1.98 billion in 2015 to $2.79 billion by 2020 with a CAGR of 7.14% from 2015 to 2020.

Global transformer oil market growth is driven by the increasing electric demand in developing economies such as India, Brazil, and South Africa, which are expected to enhance their grid infrastructure to increase the electricity accessibility to the region’s population.

In addition, rapidly increasing demands from various application industries and regions are generating several exciting markets opportunities for transformer oil.

The report caters to transformer oil manufacturers, dealers and suppliers, material providers, consulting companies in the energy and power sector, government and research organizations, utility providers, network operators and smart grid players, among others.

The leading players of the market profiled in the report include Nynas AB, Ergon Inc., PetroChina, Calumet Specialty Products Partners and San Joaquin Refining Co. Inc.

Source: Research and Markets