HOME Top Market Reports 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

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

By: marketsandmarkets.com
Publishing Date: April 2014
Report Code: EP 2454

 

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The 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 fluid is anticipated to take a major share when compared to silicone and bio-based transformer oils for the next five years.

Transformer oil being a dielectric fluid is mainly used in oil filled electrical transformers as an insulating and cooling medium. The primary function of this oil is to insulate and cool the transformer windings and core. They also preserve the core and windings, as these are fully immersed in oil which prevents contact of oxygen with the cellulose paper insulation of windings, which has high affinity towards oxidation.

The transformer oil is usually obtained by fractional distillation and subsequent processing of crude oil. Three basic types of transformer fluid are mineral oil (mostly naphthenic), silicone, and bio-based. Mineral oil based transformer fluid dominate the global consumption as it possesses better electrical and cooling properties, and provides decent value for money.

The report segments the market based on geography (Asia-Pacific, North America, Europe, ROW); types (mineral oil – naphthenic and paraffinic, silicone, and bio-based), and applications (small transformers, large transformers, and utility), and provides market forecast in terms of consumption (thousand liters) and revenue ($million) for aforesaid segments.

The global transformer oil market revenue is projected to reach $2.73 billion by 2018. The major factors responsible for the growth of the market are increasing power requirements in developing regions, rising investment, and enlargement of electricity grids in developed regions, and rising transition towards renewable energy resources. However, the major concerns in the market mainly pertain to the corrosive nature of sulfur present in this oil and flammable nature of mineral oil based transformer oils. The industry manufacturers have started using bio-based transformer oil which has higher dielectric strength and flash point, and lower pour point.

The report classifies and defines the consumption of transformer oil in the electrical equipment industry. It also covers qualitative data about the properties and functions of this oil. The report also provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, and key burning issues in the market. The top players of the industry are profiled in detail with their recent developments and other strategic industry activities. The major players in the transformer oil market are Nynas (Sweden), Ergon (U.S.), PetroChina (China), Calumet (U.S.), and San Joaquin Refining (U.S.).

Rising Consumption of Bio-Based Transformer Oils

Increasing fire accidents in mineral oil based transformers and its non-biodegradable nature has led to an increasing consumption of bio-based transformer oils, which are incombustible and non-toxic in nature. The market observed a good rate of adoption of bio-based transformer fluid due to these aspects in the recent five years; this trend is likely to continue globally and is further expected to increase.

Bio-based transformer oil is being used in large number of transformers, mainly in the North American region due to its excellent insulating and biodegradable nature (they get degraded up to 99% in 21 days). The acceptability has been high as the oil shows both performance and economic advantage over mineral oil-based oils. Bio-based oils have high fire point, provide increased service life to transformer, and offer low cost advantage for spill remediation due to high biodegradability. The consumption of bio-based oils is expected to increase at promising rate in the future. Subsequently, many oil filled transformers with bio-based oils as insulating and cooling medium are expected in the next five years.

Scope of the report

The global transformer oil market is analyzed in terms of consumption (thousand liters) and revenue ($million) for the aforesaid  types by regions and respective major countries; and applications.

  • By Geography
    • Asia-Pacific
    • North America
    • Europe
    • ROW
  • By Types
    • Mineral oil
      • Naphthenic
      • Paraffinic
    • Silicone
    • Bio-based
  • By Applications
    • Small transformers
    • Large transformers
    • Utility

Additional Offer/Customization Option:

Customize to get comprehensive industry standard and deep dive analysis of the following parameters:

Competitive Landscape

Customized competitive landscape of additional industry players such as

  • Electrical Oil Services Ltd. (U.K.)
  • Gulf Oil Middle East Limited (UAE)
  • M&I Materials Ltd. (U.K.)
  • Martin Midstream Partners L.P. (U.S.)
  • Petro-Canada Lubricants Inc. (Canada)

Base Oil Outlook

Global and regional base oil outlook
Base oil capacity outlook

Transformer Oil Market in-depth Value Chain Analysis

  • Inter-relation between segments
  • Impact of segments on the market

Table Of Contents
 
1 Introduction (Page No. - 20)
    1.1 Key Take-Aways
    1.2 Report Description
          1.2.1 Rising Consumption of Bio-Based Transformer Oils
    1.3 Markets Covered
    1.4 Research Methodology
          1.4.1 Market Size
          1.4.2 Key Data Taken From Secondary Sources
          1.4.3 Key Data Taken From Primary Sources
    1.5 Stakeholders
    1.6 Assumptions

2 Executive Summary (Page No. - 26)
    2.1 Asia-Pacific: Largest Market for Transformer Oil
    2.2 Mineral Oil Based Transformer Oil: Extensively Consumed Across the Globe
    2.3 Small Transformers: Major Application Segment for Transformer Oils

3 Premium Insights (Page No. - 29)
    3.1 Market Segments
    3.2 Global Market Overview
          3.2.1 Global Transformer Oil Market Consumption
          3.2.2 Global Transformer Oil Market Size
                  3.2.2.1 Regional Analysis
          3.2.3 Global Transformer Oil Market Life Cycle
    3.3 Asia-Pacific: Transformer Oil Market
          3.3.1 Asia-Pacific: Transformer Oil Market Volume, By Country
          3.3.2 Asia-Pacific: Transformer Oil Market Size (Value), By Countries
    3.4 Major Transformer Oil Manufacturers
          3.4.1 Transformer Oil Manufacturers Global Presence

4 Market Overview (Page No. - 37)
    4.1 Introduction
          4.1.1 Trends
          4.1.2 Outlook
          4.1.3 Market Participants
    4.2 Market Definition
          4.2.1 By Geography
          4.2.2 By Product Types
          4.2.3 By Applications
    4.3 Value Chain Analysis
    4.4 Market Dynamics
          4.4.1 Drivers
                  4.4.1.1 New Investments and Upgradation of Electricity Grids in Europe and North America
                  4.4.1.2 Rising Transition to New Energy Sources
                  4.4.1.3 Expansion of Electricity Grids in Developing Countries
          4.4.2 Restraints
                  4.4.2.1 Corrosive Effects of Sulfur Present in Transformer Oil
                  4.4.2.2 Combustible Nature of Transformer Oil
          4.4.3 Opportunity
                  4.4.3.1 Rising Power Requirements in Asia-Pacific and South America
    4.5 Burning Issues
          4.5.1 High Re-Refining Rate of Used Transformer Oils
          4.5.2 Growing Base Oil Prices
    4.6 Winning Imperatives
          4.6.1 Collaborative Product Development
          4.6.2 Venturing Into Transformer Oil Testing Services
    4.7 Porter’s Five forces Analysis
          4.7.1 Threat of New Entrants
          4.7.2 Suppliers’ Power
          4.7.3 Threat of Substitutes
          4.7.4 Buyers’ Power
          4.7.5 Degree of Competition

5 Technical Overview (Page No. - 61)
    5.1 Introduction
    5.2 Transformers
          5.2.1 Principle of Operation
          5.2.2 Classification of Transformers
                  5.2.2.1 on the Basis of Type of Transformer
                            5.2.2.1.1 Power Transformers
                            5.2.2.1.2 Distribution Transformers
                            5.2.2.1.3 Transmission Transformers
                  5.2.2.2 on the Basis of Insulation
                            5.2.2.2.1 Liquid-Immersed Transformers
                            5.2.2.2.2 Dry Type Transformers
                            5.2.2.2.3 Comparison of Liquid-Immersed and Dry Type Transformers
    5.3 Transformer Oil
          5.3.1 Types of Transformer Oils
                  5.3.1.1 Mineral Oil-Based Transformer Oil
                            5.3.1.1.1 Paraffinic-Based Transformer Oil
                            5.3.1.1.2 Naphthenic-Based Transformer Oil
                  5.3.1.2 Silicone-Based Transformer Oil
                  5.3.1.3 Bio-Based Transformer Oil
          5.3.2 Technical Properties of Transformer Oils
                  5.3.2.1 Electrical Properties
                            5.3.2.1.1 Dielectric Strength
                            5.3.2.1.2 Specific Resistance
                            5.3.2.1.3 Dielectric Dissipation
                  5.3.2.2 Chemical Properties
                            5.3.2.2.1 Neutralization Value
                            5.3.2.2.2 Sludge Content
                            5.3.2.2.3 Oxidation Stability
                            5.3.2.2.4 Corrosive Sulfur
                  5.3.2.3 Physical Properties
                            5.3.2.3.1 Interfacial Tension
                            5.3.2.3.2 Moisture Content
                            5.3.2.3.3 Flash Point
                            5.3.2.3.4 Pour Point
                            5.3.2.3.5 Viscosity
                  5.3.2.4 Comparison of Technical Properties, By Types of Transformer Oil

6 Transformer Oil Market, By Geography (Page No. - 79)
    6.1 Introduction
    6.2 Market Analysis By Geography
          6.2.1 Market Size Estimates
          6.2.2 Market Size Estimates
          6.2.3 Transformer Oils: Prominent Regional Markets
          6.2.4 Asia-Pacific
                  6.2.4.1 Asia-Pacific: Biggest Market for Transformer Oils
                  6.2.4.2 Market Size(Volume) Estimates, By Countries
                  6.2.4.3 Marketsize(Value) Estimates, By Country
                  6.2.4.4 Country-Wise Analysis
                            6.2.4.4.1 China
                            6.2.4.4.2 India
                            6.2.4.4.3 Japan
                            6.2.4.4.4 South Korea
                            6.2.4.4.5 Thailand
                            6.2.4.4.6 Vietnam
                  6.2.4.5 By Type
                            6.2.4.5.1 Market Size( Volume) Estimates
                            6.2.4.5.2 Market Size(Value) Estimates
          6.2.5 North America
                  6.2.5.1 North America: Potential Market for Bio-Based Dielectric Fluids
                  6.2.5.2 Market Volume Estimates, By Countries
                  6.2.5.3 Market Size(Value) Estimates, By Country
                  6.2.5.4 By Country-Wise Analysis
                            6.2.5.4.1 U.S.
                            6.2.5.4.2 Mexico
                            6.2.5.4.3 Canada
                  6.2.5.5 By Type
                            6.2.5.5.1 Market Size ( Volume) Estimates
                            6.2.5.5.2 Market Size (Value) Estimates
          6.2.6 Europe
                  6.2.6.1 Market Size(Volume) Estimates, By Country
                  6.2.6.2 Market Size(Value), By Countries
                  6.2.6.3 By Country-Wise Analysis
                            6.2.6.3.1 Russia
                            6.2.6.3.2 Germany
                            6.2.6.3.3 France
                            6.2.6.3.4 Turkey
                            6.2.6.3.5 Spain
                            6.2.6.3.6 U.K.
                            6.2.6.3.7 Ukraine
                            6.2.6.3.8 Belgium
                  6.2.6.4 By Type
                            6.2.6.4.1 Market Size(Volume) Estimates
                            6.2.6.4.2 Market Size (Value) Estimates
          6.2.7 ROW
                  6.2.7.1 Market Size( Volume)Estimates, By Country
                  6.2.7.2 Market Size(Value) Estimates, By Country
                  6.2.7.3 By Country-Wise Analysis
                            6.2.7.3.1 Brazil
                            6.2.7.3.2 Saudi Arabia
                            6.2.7.3.3 South Africa
                            6.2.7.3.4 Argentina
                  6.2.7.4 By Type
                            6.2.7.4.1 Market Size( Volume) Estimates
                            6.2.7.4.2 Market Size (Value) Estimates

7 Transformer Oil Market, By Type (Page No. - 155)
    7.1 Introduction
    7.2 Market Analysis By Type
          7.2.1 Market Size( Volume) Estimates
          7.2.2 Market Size(Value) Estimates
          7.2.3 Mineraloil-Based
                  7.2.3.1 Largest Consumed Transformer Oil Type
                  7.2.3.2 Market Size(Volume) Estimates
                  7.2.3.3 Market Size(Value) Estimates
                  7.2.3.4 By Type
                            7.2.3.4.1 Naphthenic Mineral-Oil-Based
                  7.2.3.5 Market Size(Volume) Estimates
                  7.2.3.6 Market Size(Value) Estimates
                            7.2.3.6.1 Paraffinic Mineral-Oil-Based
                  7.2.3.7 Market Size(Volume) Estimates
                  7.2.3.8 Market Size(Value) Estimates
          7.2.4 Silicone-Based
                  7.2.4.1 Market Size (Volume)Estimates
                  7.2.4.2 Market Size(Value) Estimates
          7.2.5 Bio-Based
                  7.2.5.1 Future of Transformer Oils
                  7.2.5.2 Market Size (Volume) Estimates
                  7.2.5.3 Market Size(Value) Estimates

8 Transformer Oil Market,By Applications (Page No. - 178)
    8.1 Introduction
    8.2 Market Analysis By Application
          8.2.1 Small Transformers: Highest Consuming Application Segment
          8.2.2 Market Size (Volume)Estimates, By Application
          8.2.3 Market Size(Value) Estimates, By Application
          8.2.4 Applications
                  8.2.4.1 Small Transformers
                  8.2.4.2 Large Transformers
                  8.2.4.3 Utility
                  8.2.4.4 Others

9 Competitive Landscape (Page No. - 186)
    9.1 Introduction
    9.2 Key Players in the Transformer Oil Market
          9.2.1 Regional Analysis
          9.2.2 Key Focus of the Companies
                  9.2.2.1 Growth Strategies in the Transformer Oil Market
    9.3 Acquisitions Lead the Way
    9.4 Market Share Analysis & Market Position
          9.4.1 Market Share Analysis
          9.4.2 Company’s Relative Market Positions, By Geopraphy
    9.5 Competitive Situations & Trends
          9.5.1 Acquisitions
          9.5.2 Expansions
          9.5.3 Contract Agreements
          9.5.4 Joint Ventures
          9.5.5 Others

10 Company Profiles (Company At A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments)* (Page No. - 200) 
    10.1 Apar Industries Ltd.
    10.2 Calumet Specialty Products Partners L.P.
    10.3 Cargill, Incorporated
    10.4 Engen Petroleum Ltd.
    10.5 Ergon Inc.
    10.6 Hydrodec Group PLC
    10.7 Nynas Ab
    10.8 Petrochina
    10.9 San Joaquin Refining Co.
    10.10 Sinopec Corp

*Details on Company At A Glance, Recent Financials, Products & Services, Strategies & Insights, & Recent Developments Might Not Be Captured in Case of Unlisted Companies.


List of Tables (89 Tables)

Table 1 Industry Participants in Transformer Oil Market
Table 2 Classification of Liquid-Immersed Transformers, Based on Capacity
Table 3 Comparison of Liquid-Immersed & Dry-Type Transformers
Table 4 Ideal Values of Electrical Properties
Table 5 Ideal Values of Chemical Properties
Table 6 Ideal Value of Physical Properties
Table 7 Transformer Oil Market Consumption, By Geography, 2011–2018 (’000 Liters)
Table 8 Transformer Oil Market Size (Value), By Geography, 2011–2018 ($Million)
Table 9 APAC: Transformer Oil Market Size(Value), By Country, 2011–2018 (’000 Liters)
Table 10 APAC: Transformer Oil Market Size (Value), By Country, 2011–2018 ($Million)
Table 11 China: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 12 China: Transformer Oil Market Size (Value)By Type, 2011–2018 ($Million)
Table 13 India: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 14 India: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 15 Japan: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 16 Japan: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 17 South Korea: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 18 South Korea: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 19 Thailand: Transformer Oil Market Consumption, By Types, 2011–2018 (’000 Liters)
Table 20 Thailand: Transformer Oil Market Size (Value), By Type,2011–2018 ($Million)
Table 21 Vietnam: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 22 Vietnam: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 23 APAC: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 24 APAC: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 25 North America: Transformer Oil Market Share (Volume), By Country, 2011–2018 (’000 Liters)
Table 26 North America: Transformer Oil Market Size (Value), By Country, 2011–2018 ($Million)
Table 27 U.S: Transformer Oil Market Size (Volume), By Type, 2011–2018 (’000 Liters)
Table 28 U.S: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 29 Mexico: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 30 Mexico: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 31 Canada: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 32 Canada: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 33 North America: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 34 North America: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 35 Europe: Transformer Oil Market Consumption, By Country, 2011–2018 (’000 Liters)
Table 36 Europe: Transformer Oil Market Size (Value), By Country, 2011–2018 ($Million)
Table 37 Russia: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 38 Russia: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 39 Germany: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 40 Germany: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 41 France: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 42 France: Transformer Oil Market Size (By Value), By Type, 2011–2018 ($Million)
Table 43 Turkey: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 44 Turkey: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 45 Spain: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 46 Spain: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 47 U.K: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 48 U.K: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 49 Ukraine: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 50 Ukraine: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 51 Belgium: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 52 Belgium: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 53 Europe: Transformer Oil Market Consumption, By Type, 2011–2018 (’000 Liters)
Table 54 Europe: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 55 ROW Transformer Oil Market Share(Volume), By Country, 2011–2018 ('000 Liters)
Table 56 ROW: Transformer Oil Market Size (Value), By Country, 2011–2018 ($Million)
Table 57 Brazil: Transformer Oil Market Consumption, By Type, 2011–2018 ('000 Liters)
Table 58 Brazil: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 59 Saudi Arabia: Transformer Oil Market Consumption, By Type, 2011–2018 ('000 Liters)
Table 60 Saudi Arabia: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 61 South Africa: Transformer Oil Market Consumption, By Type, 2011–2018 ('000 Liters)
Table 62 South Africa: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 63 Argentina: Transformer Oil Market Consumption, By Type, 2011–2018 ('000 Liters)
Table 64 Argentina: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 65 ROW: Transformer Oil Market Consumption, By Type, 2011–2018 ('000 Liters)
Table 66 ROW: Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 67 Transformer Oil Market Consumption, By Type, 2011–2018 ('000 Liters)
Table 68 Global Transformer Oil Market Size (Value), By Type, 2011–2018 ($Million)
Table 69 Mineral-Oil-Based Transformer Oil Consumption, By Geography, 2011–2018 ('000 Liters)
Table 70 Mineral-Oil-Based Transformer Oil Market Size (Value), By Geography, 2011–2018 ($Million)
Table 71 Naphthenic Mineral-Oil-Based Transformer Oil Market Consumption, By Geography, 2011–2018 ('000 Liters)
Table 72 Naphthenic Mineral-Oil-Based Transformer Oil Marketsize (Value), By Geography, 2011–2018 ($Million)
Table 73 Paraffinic Mineral-Oil-Based Transformer Oil Market Consumption, By Geography, 2011–2018 ('000 Liters)
Table 74 Paraffinic Mineral-Oil-Based Transformer Oil Market Size (Value), By Geography, 2011–2018 ($Million)
Table 75 Silicone-Based Transformer Oil Consumption, By Geography, 2011–2018 ('000 Liters)
Table 76 Silicone-Based Transformer Oil Market Size (Value), By Geography, 2011–2018 ($Million)
Table 77 Bio-Based Transformer Oil Consumption, By Geography, 2011–2018 ('000 Liters)
Table 78 Bio-Based Transformer Oil Marketsize (Value), By Geography, 2011–2018 ($Million)
Table 79 Transformer Oil Market Consumption, By Applications, 2011–2018 (‘000 Liters)
Table 80 Transformer Oil Market Size (Value), By Application, 2011–2018 ($Million)
Table 81 Acquisitions, 2009-2014
Table 82 Expansions,2011–2014
Table 83 Contract Agreements, 2011-2014
Table 84 Joint Ventures, 2010-2013
Table 85 Other Developments, 2012-2014
Table 86 Apar Industries: Service/Product & Its Equipment/Service
Table 87 Calumet: Products & Its Description
Table 88 Enegn: Products & Its Description
Table 89 Petrochina: Products & Its Description


List of Figures (41 Figures)

Figure 1 Global Transformer Oil Market Share, By Segment, 2013 (Million Liters)
Figure 2 Global Transformer Oil Market Segmentation
Figure 3 Transformer Oil Market Consumption Trend, 2011–2018 (Million Liters)
Figure 4 Global Transformer Oil Market Size, 2013 ($Million)
Figure 5 Global Transformer Oil Market Size, By Geography & Countries, 2013 ($Million)
Figure 6 Transformer Oil Market Life Cycle, By Geography
Figure 7 Asia-Pacific: Transformer Oil Market Size, By Country, 2013 (Million Liters)
Figure 8 Asia-Pacific: Transformer Oil Market Size, By Country, 2013 Vs 2018 ($Million)
Figure 9 Transformer Oil Manufacturers Global Presence, 2013
Figure 10 Global Transformer Oil Market Volume (Million Liters) & Revenue ($Million), 2011–2018
Figure 11 Transformer Oil Value Chain Analysis
Figure 12 Business Impact Analysis of Drivers & Restraints on the Transformer Oil Market
Figure 13 Impact of Major Drivers on the Global Transformer Oil Market
Figure 14 Impact of Major Restraints on the Global Transformer Oil Market
Figure 15 Porter’s Five forces Analysis
Figure 16 Working of A Transformer
Figure 17 Power Generation & Distribution System
Figure 18 Structure of Power Transformer
Figure 19 Comparison of Technical Properties of Transformer Oils, By Type
Figure 20 Transformer Oil Market Consumption Trends, By Geography, 2011–2018 (Million Liters)
Figure 21 Transformer Oil Market Share (Value), By Geography, 2013 Vs 2018
Figure 22 Prominent Regional Markets, 2013
Figure 23 Transformer Oil Market Share (Volume), By Country, 2013
Figure 24 APAC: Transformer Oil Market Share(Volume), By Country, 2013 Vs 2018
Figure 25 North America: Transformer Oil Consumption Share, By Country, 2013 Vs 2018
Figure 26 Europe: Transformer Oil Market Share(Value), By Country, 2013 Vs 2018
Figure 27 ROW: Transformer Oil Market Consumption Share, By Country, 2013 Vs 2018
Figure 28 Transformer Oil Market Size, By Geography & Type, 2011–2018 (Million Liters)
Figure 29 Global Transformer Oil Market Share(Volume), By Type, 2013 Vs 2018
Figure 30 Mineral-Oil-Based Transformer Oil Market Share (Volume), By Geography, 2013 Vs 2018
Figure 31 Silicone-Based Transformer Oil Market Share (Volume), By Geography, 2013 Vs 2018
Figure 32 Bio-Based Transformer Oil Market Share(Volume), By Geography, 2013 Vs 2018
Figure 33 Transformer Oil Applications Market Size,Volume (Million Liters) Vs Value ($Million), 2013
Figure 34 Transformer Oil Market Share(Volume), By Application, 2013 Vs 2018
Figure 35 Transformer Oil Market, By Growth Strategy, 2011–2014
Figure 36 Transformer Oil Market Share, 2013
Figure 37 Transformer Oil Market, By Companies
Figure 38 Acquisitions, 2009-2014
Figure 39 Expansions, 2011-2014
Figure 40 Contract Agreements, 2011–2014
Figure 41 Joint Ventures, 2010-2013

The transformer oil market will become $2.73 billion by 2018 signifying firm annualized growth rate of 9.21% from 2013 to 2018; This consistent growth rate indicates a substantial increase in consumption of these products in addition to rise in price.

In the past few years, a major economies have struggled with different events reflecting on the economic conditions of these regions For instance Japan faced natural calamities such as tsunami and earthquake to nuclear disaster in 2011, North America struggled with numerous natural disasters, and Europe with economic turmoil. All these incidents gave rise to many environmental and governmental issues affecting the power sector across various regions. Many nuclear power plants across Japan and Europe were shut down after the nuclear disaster in Japan. Still, the power industry was able to withstand and grow at a promising rate in the past five years. Increasing electricity demand mainly in the developing regions and increasing affinity towards renewable energy sources for generating electricity will increase the future growth in the transformer industry giving rise to consumption in the transformer oil market.

Transformer oil or dielectric fluid is usually a highly refined mineral oil (mostly naphthenic), which is stable at high temperatures and has outstanding dielectric and cooling properties. It is mainly used in oil-filled transformers as an insulating and cooling medium. Apart from this application, transformer oil is also used in few types of high voltage capacitors, switchgears, and circuit breakers. The major functions of transformer fluid are to insulate, suppress arcing, and serve as a coolant. In oil-filled transformers, the efficiency level is high and power losses are low compared to dry-type. The power losses are almost 47% lesser than that of dry-type transformers as these lack the additional cooling and insulating properties which oil-filled transformers are equipped with.

The key manufacturers in the industry are Nynas AB (Sweden), Ergon Inc. (U.S.), PetroChina (China), Calumet Specialty Products Partners (U.S.), and San Joaquin Refining Co. Inc. (U.S.). Nynas AB and Ergon Inc. are the leading producers of transformer oil. However, the transformer oil market is dependant over the demand of oil filled transformers. The fluctuation in demand in the oil filled transformer industry directly affects the consumption of this oil. In recent years, the oil filled transformer industry has grown, and is estimated to continue to grow at a promising rate in the next five to six years; this market is estimated to show a significant market growth in terms of consumption and revenue.

The global transformer oil market revenue is estimated to reach $2.73 billion by 2018. The key factors such as operating life of transformers, and environmental friendliness will trigger the developments in the industry.

Transformer Oil Market Consumption Share, By Types & Geography, 2012

Transformer Oil Market

Source: MarketsandMarkets Analysis

This report covers the consumption of transformer oil and its types across various regions. It also touches transformer oil market by its application in the next five years (2013-2018). China, India, and the U.S. are anticipated to be the largest consumers of transformer oil in 2013, whereas, its consumption is projected to grow at the highest CAGR (from 2013 to 2018) in China and Brazil.

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