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Transformer oil market to be worth $ 2.73 billion by 2018

USA, Texas: The report ‘Transformer Oil Market by Types (Mineral Oil – Naphthenic & Paraffinic, Silicone, and Bio-based), Applications (Small & Large Transformers, Utility) & Geography – Global Industry Trends & Forecast to 2018’ has been announced.

The report analyses transformer oil market and forecasts the global volume and revenue. Global transformer oil market is expected to grow from $ 1.76 billion in 2013 to $ 2.73 billion by 2018, with a CAGR of 9.21 %. Mineral oil-based transformer oil is expected to occupy majority of the share for the next five years, reports Digital Journal.

Asia-Pacific is estimated to remain the top consumer until 2018, followed by the North American market. Europe is expected to be the third largest.

Due to rise of distribution transformers usage, the demand of transformer oil is also increasing. Small transformers are estimated to have the largest transformer oil consumption share followed by large ones, and utility transformers.

The report covers global transformer oil market in terms of consumption and revenue across Asia-Pacific, Europe, North America, and the rest of the world. It explains qualitative and quantitative aspects of transformer oil types such as mineral oil – naphthenic & paraffinic, silicone, and bio-based transformer oils; oil market by geography and types; and its consumption.

Source: Digital Journal