USA: Transformer oil market is expected to grow from $ 1.59 billion in 2012 to $ 2.46 billion by 2017 according to the report Transformer Oil Market: By Types (Mineral Oil - Naphthenic and Paraffinic, Silicone and Bio-based), Applications (Small and Large Transformers, Utility) and Geography - Global Industry Trends and Forecast to 2017.
It is expected that mineral oil-based transformer oil will occupy the biggest share in comparison with silicone and bio-based transformer oils, writes MENA Financial Network. The trend for growing electricity demand is likely to continue in the Asia-Pacific countries (China, Japan and India) which are major transformer oil consumers.
Small transformers witnessed the largest transformer oil consumption in 2012, followed by large ones, and utility. This is also likely to continue until 2017.
The report covers global transformer oil market in terms of consumption and revenue across Asia-Pacific, Europe, North America, and Rest of the World (ROW). It provides explaination of qualitative and quantitative aspects of transformer oil types and briefly explains the transformer oil market by geography and types as well as trends in the consumption between 2010 and 2017.
Source: MENA Financial Network