The global Transformer Oil Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
Global Transformer Oil Market is anticipated to reach USD 4.05 billion by 2025. Transformer oil is also known as “Insulating oil”. Transformer oil is a superlative insulator for electricity, and it is stable at high temperature. This transformer oil is mainly a derivative of mineral oils, but substitute composition with better chemical and physical properties. Transformer oil has several properties such as high resistivity, thermal conductivity, minimum power loss, excellent di-electricity, chemical stability, and among others.
Key Players:
- Sinopec Lubricant Company
- Valvoline
- Cargill
- Nynas AB
- Ergon International Inc.
- PetroChina Lubricant Company
- Calumet Specialty Products
- Apar Industries Ltd.
- Engen Petroleum Ltd.
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Growth Drivers:
The factors that propel the growth of the Transformer Oil industry include increasing electric demand in emerging countries such as Brazil, South Africa, and India; which are anticipated to develop their grid infrastructure to increase the availability of electricity to the population.
On the other hand, there are factors that may hamper the growth of the market including strict environmental laws and shift towards organic oils, and the transition towards renewable sources of energy. Transformer Oil Market is anticipated to grow at a significant CAGR of 11.5% in the upcoming period as the scope, product types, and its applications are increasing across the globe.
Product Outlook:
- Mineral-based Oils
- Naphthenic Base Oils
- Paraffinic Base Oils
- Silicone-based oils
- Bio-based oils
The “Mineral-based Transformer Oil” segment surpassed the Transformer Oil industry in 2016 and is anticipated to maintain its dominance by 2025 owing to superior operational advantages, and environmental benefits.
Application Outlook:
- Small-scale Transformers
- Large-scale Transformers
- Utility Transformer Oils
The “Small- scale Transformer” segment surpassed the Transformer Oil industry in 2016 and is anticipated to maintain its dominance by 2025 owing to growing electrification and urbanization of rural areas, several government initiatives to expand the power infrastructure, particularly in emerging economies such as Latin America, Africa, and Asia-Pacific. Transformer Oil may be explored by end users as chemicals and automotive.
Regional Outlook:
Asia-Pacific accounted for the major share of the Transformer Oil Market Size in 2016 and will continue to lead in the forecast period. The factors that could be attributed to the growth include expansion of electric grids, increasing power requirements, and increasing requirement to transform & upgrade existing electricity supply organizations in emerging nations such as Vietnam, India, Indonesia and Thailand. Some of the key players that fuel the growth of the Transformer Oil industry comprise ABB Ltd., General Electric Company, Siemens AG, Mitsubishi Electric Corporation, Crompton Greaves Limited, Hyundai Heavy Industries Co. Ltd., Toshiba Corporation, Hyosung Group, Bharat Heavy Electricals Limited, Schneider Electric, and SPX Transformer Solutions, Inc. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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