[Transformer Oil Market][1] is estimated to surpass $ 3.21 Billion mark in 2019 and reach USD 5.63 Billion by 2024, at a Compound Annual Growth Rate (CAGR) of 15.7% during the forecast period 2016-2024 globally. Rapid urbanization, drastic industrialization and the progressive access to modern electricity grids in major parts of rural areas in Asia Pacific have led to an increase in electricity consumption. The electricity demand in this region alone has nearly doubled in the last few years. Growing consumer requirements and the exponential development in distribution networks has also contributed to industry growth.Transformer Oil MarketTransformer Oil Market1These oils are used for insulating power equipment, dissipating heat and contributing to cooling systems. Modernization of the existing transformers and replacement of old ones has largely influenced growth in developed economies such as North America and Europe. Stringent regulations regarding energy wastage, implemented by the U.S. Environmental Protection Agency, the Electricity & Cogeneration Regulatory Authority and other federal bodies have also been responsible for driving oils demand to curb emissions & electricity wastage.
The scope of the Transformer Oil Market Report:

Global Transformer Oil Market, by Electrical Product

Mineral Transformer Oil
o Naphthenic Oil
o Paraffinic Oil
Silicone Transformer Oil
Bio-Based Transformer Oil
Global Transformer Oil Market, by Application

Small-scale Transformers
Large-scale Transformers
Utility Transformers
Distribution Transformer
Power Transformer
Instrument Transformer
Others

https://www.maximizemarketresearch.com/market-report/transformer-oil-market/11266/

Transformer Oil Market, By Geography:

North America, Europe, Asia Pacific, Middle East & Africa and Latin America

Key Players:

Nynas AB
Ergon Inc.
PetroChina Company Limited
Apar Industries Limited
Calumet Specialty Products Partners
L.P.
Sinopec Corporation
Hydrodec Group Plc
Cargill Incorporated
Engen Petroleum Limited
Valvoline
San Joaquin Refining Co., Inc.
Gandhar Oil Refinery India Limited.
APAR Industries

About Company Info
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors
Report Published by: Maximize Market Research.