APAC Takes Lead in World Transformer Oil Market, Informs MRFR in Its Insightful Study Available at MarketPublishers.com18 Apr 2017 • by Natalie Aster
LONDON – The value of the world’s transformer oil stood at nearly 2.1 billion as of 2015 and, furthermore, is anticipated to cross the USD 3.6 billion mark by the end of 2022, registering growth at an 8.29% CAGR in the coming years.
On the basis of types, mineral oil forms, naphthenic and paraffinic oils hold the dominant position in the overall market, capturing a chunk of around 90%. Due to easy availability of naphthenic oil, it is poised to retain the top position in the years ahead. However, such trends as constantly rising environmental concerns and strict regulation norms regarding fire safety are likely to propel the demand for bio-based and silicone oil through 2022.
At presents, APAC takes lead in the worldwide transformer oil with a share of approximately 40%, and this region is predicted to maintain its dominance through 2022. The APAC region presents huge lucrative growth opportunities for the transformer oil market players. The APAC transformer oil market is projected to experience a 9.28% CAGR through 2022.
Insightful research study “Global Transformer Oil Market - Trends & Forecast, 2016-2022” elaborated by Market Research Future (MRFR) gives access to trustworthy info on the market performance and dynamics. It covers the top trends and discusses the key influencing factors, examines the market segmentation, delves into the competitive environment, profiles top players, includes details on the current performance, historical background and emerging challenges and opportunities. The report also includes a comprehensive future outlook through 2022.
To find many other research studies by MRFR follow to the publisher’s catalogue at MarketPublishers.com.