Global Transformer oil Market is expected to grow at a CAGR of 6.9%
Transformer oil Market and Top Companies
Key market players profiled in the Transformer oil market report includes:
Transformer oil Market and Top End User
Top end users in transformer oil Market are:
Transformer oil Market and Top Application
Top application in transformer oil market are:
Transformer oil Market and Top Use Cases
Top use cases in transformer oil Market are:
[157 Pages Report] The global transformer oil market is projected to reach USD 3.0 billion by 2025 from an estimated market size of USD 2.2 billion in 2020, at a CAGR of 6.9% during the forecast period. The factors driving the growth for transformer oil are the upgradation of electric grids in developing countries along with the expansion of electric grids due to growing industrialization and urbanization.
The market has been segmented, by end-user, into transmission and distribution, power generation, railways & metros, and others (industrial and commercial sectors). The transmission and distribution segment is expected to be the most significant transformer oil market, by end-user, during the forecast period. This dominance can be attributed to growing power requirements due to rising urbanization along with a growing population, resulting in an increase in the transmission and distribution network across the world. A growing transmission and distribution network will result in an increase in the number of substations, which is expected to boost the demand for transformer oil due to the installation of transformers, reactors, and switchgears in these substations.
The transformer oil market has been segmented, by oil type, into mineral oil, silicone oil, and bio-based oil. The mineral oil segment is estimated to be the fastest-growing during the forecast period.
Mineral oil is subdivided into naphthenic oil and paraffinic oil, and a majority of the existing and new transformers manufactured uses mineral oil as the cooling fluid. Mineral oil has low biodegradability and low fire safety potential, which has necessitated the need for other insulating liquids to be used in transformers, reactors, and switchgears installed at high-fire risk areas, such as chemical factories. Mineral oils consist of hydrocarbon components, which usually comes from residual oil fractions of the appropriate viscosity level. In other words, mineral oil is a by-product of petroleum distillation. Naphthenic oil, a subdivision of mineral oil, is more stable in oxidation at different temperatures. In addition, these oils form soluble sludge during the course of operation, which does not affect the transformers operational efficiency. Thus, easy availability and the low price of mineral oil compared to other transformer oils are expected to drive the market during the forecast period.
The transformer oil market has been segmented, by application, into transformers, switchgears, and reactors. The transformer segment is estimated to be the fastest-growing during the forecast period.
Transformer oils are used in applications such as power and distribution transformers. Rising electricity requirements due to an increasing population has resulted in an increase in investments for the expansion of the existing power grids as well as for the construction of new power infrastructure in developed and developing countries. The upgradation and expansion of electric grids due to the rising power demand is expected to increase the demand for transformers, which will eventually propel the transformer oil market for this segment.
In this report, the transformer oil market has been analyzed with respect to four regions, namely APAC, North America, Europe, and RoW.
APAC is expected to dominate the global transformer oil market during the forecast period. The growth of this market can be attributed to the growing demand for power in developing countries, such as China and India, and established economies, such as Japan and China. Growing power requirements, along with the upgradation of the aging electrical infrastructure, are expected to result in an increase in the number of substations. This will propel the demand for transformers, reactors, and switchgears, which will boost the demand for transformer oil.
The major players in the global transformer oil market include Nynas AB (Sweden), Ergon International (Belgium), Petrochina Company Limited (China), Apar Industries (India), Sinopec Lubricant (China).
Nynas AB is an oil company that transforms crude oil into high-quality bitumen and naphthenic specialty oil. The company conducts business through Naphthenic and Bitumen segments. Nynas AB offers transformer, base, and tire and rubber oils through the Naphthenic segment. Nynas AB has 20 naphthenic depots and 3 naphthenic hubs, 4 owned refineries, and 3 partner refineries in regions such as Europe, North America, and APAC. The company has a strong global presence with strongholds in Europe.
Ergon International is a part of Ergon, Inc. and is one of the leading global producers of naphthenic oil. The company conducts business through 4 segments: HyVolt Insulating Oil, HyPrene Process Oil, HyGold Base Oil, and HyPrint Ink Oil. Ergon International has a global presence with its strong supply network of specialty naphthenic transformer oils, process oils, and base oils to the Middle East, Europe, Africa, India, and APAC. With a storage terminal in Belgium, Ergon International has a network of licensed distributors located in Eastern Europe and the UAE.
Report Metric |
Details |
Market size available for years |
20182025 |
Base year considered |
2019 |
Forecast period |
20202025 |
Forecast units |
Value (USD) |
Segments covered |
Type, Application, End-user, and Region |
Geographies covered |
Asia Pacific, North America, Europe, and Rest of the World |
Companies covered |
Nynas AB (Sweden), Ergon International (Belgium), Petrochina Company Limited (China), Apar Industries (India), Sinopec Lubricant (China), Calumet Speciality Products (US), Hydrodec Group (US), Cargill, Incorporated (US), and ExxonMobil (US) |
This research report categorizes the transformer oil market by type, application, end-user, and region.
To speak to our analyst for a discussion on the above findings, click Speak to Analyst
TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 19)
1.1 STUDY OBJECTIVES
1.2 DEFINITION AND SCOPE
1.2.1 TRANSFORMER OIL MARKET, BY END USER: INCLUSIONS & EXCLUSIONS
1.2.2 TRANSFORMER OIL MARKET, BY APPLICATION: INCLUSIONS & EXCLUSIONS
1.3 MARKET SCOPE
1.3.1 MARKETS COVERED
1.3.2 REGIONAL SCOPE
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 LIMITATION
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY (Page No. - 24)
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primaries
2.2 SCOPE
2.3 MARKET SIZE ESTIMATION
2.3.1 DEMAND-SIDE ANALYSIS
2.3.1.1 Calculation
2.3.1.2 Assumptions
2.3.2 SUPPLY-SIDE ANALYSIS
2.3.2.1 Calculation
2.3.2.2 Assumptions
2.3.3 FORECAST
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
2.5 PRIMARY INSIGHTS
3 EXECUTIVE SUMMARY (Page No. - 33)
4 PREMIUM INSIGHTS (Page No. - 37)
4.1 ATTRACTIVE OPPORTUNITIES IN TRANSFORMER OIL MARKET
4.2 TRANSFORMER OIL MARKET (VALUE), BY REGION
4.3 TRANSFORMER OIL MARKET, BY TYPE
4.4 TRANSFORMER OIL MARKET, BY APPLICATION
4.5 TRANSFORMER OIL MARKET, BY END USER
5 MARKET OVERVIEW (Page No. - 40)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Upgradation of electric grids in developing countries
5.2.1.2 Expansion of electric grids due to growing industrialization and urbanization
5.2.2 RESTRAINTS
5.2.2.1 Increasing demand for dry-type transformers
5.2.2.2 Rising competition from unorganized or fragmented transformer oil market
5.2.3 OPPORTUNITIES
5.2.3.1 Growing demand for bio-based transformer oil due to environmental concerns
5.2.3.2 Rising power requirements in APAC and North America
5.2.4 CHALLENGES
5.2.4.1 Fluctuations in crude oil prices
6 TRANSFORMER OIL MARKET, BY OIL TYPE (Page No. - 45)
6.1 INTRODUCTION
6.2 MINERAL OIL
6.2.1 EASY AVAILABILITY AND LOW PRICE INDEX ARE LIKELY TO INCREASE DEMAND FOR MINERAL OIL-BASED TRANSFORMER OIL
6.2.2 NAPHTHENIC OIL
6.2.3 PARAFFINIC OIL
6.3 SILICONE
6.3.1 NON-TOXIC AND NON-REACTIVE NATURE IS EXPECTED TO DRIVE DEMAND FOR SILICONE-BASED TRANSFORMER OIL
6.4 BIO-BASED OIL
6.4.1 RISING ENVIRONMENTAL CONCERNS TO DRIVE MARKET FOR BIO-BASED OIL
7 TRANSFORMER OIL MARKET, BY APPLICATION (Page No. - 52)
7.1 INTRODUCTION
7.2 TRANSFORMER
7.2.1 GROWING POWER DEMAND IN DEVELOPING COUNTRIES OF ASIA PACIFIC IS LIKELY TO BOOST TRANSFORMER OIL MARKET DURING FORECAST PERIOD
7.2.2 POWER TRANSFORMER
7.2.3 DISTRIBUTION TRANSFORMER
7.3 REACTOR
7.3.1 UPGRADE OF ELECTRICAL GRIDS TO MEET POWER REQUIREMENTS IS LIKELY TO DRIVE MARKET FOR TRANSFORMER OIL
7.4 SWITCHGEAR
7.4.1 GROWING INVESTMENTS IN TRANSMISSION AND DISTRIBUTION NETWORK EXPANSION IS EXPECTED TO DRIVE MARKET FOR SWITCHGEAR SEGMENT
8 TRANSFORMER OIL MARKET, BY END USER (Page No. - 59)
8.1 INTRODUCTION
8.2 TRANSMISSION AND DISTRIBUTION
8.2.1 EXPANSION OF TRANSMISSION AND DISTRIBUTION NETWORK DUE TO GROWING POWER REQUIREMENTS IS LIKELY TO FUEL TRANSFORMER OIL MARKET GROWTH
8.3 POWER GENERATION
8.3.1 RISE IN POWER GENERATION CAPACITY IS EXPECTED TO DRIVE MARKET FOR TRANSFORMER OIL
8.4 RAILWAYS & METROS
8.4.1 GROWING INVESTMENTS IN RAILWAYS & METROS LIKELY TO PROPEL DEMAND FOR TRANSFORMER OIL
8.5 OTHERS
8.5.1 GROWTH IN INDUSTRIAL AND COMMERCIAL SECTORS IS EXPECTED TO DRIVE MARKET FOR TRANSFORMER OIL
9 TRANSFORMER OIL MARKET, BY REGION (Page No. - 65)
9.1 INTRODUCTION
9.2 APAC
9.2.1 BY OIL TYPE
9.2.1.1 By sub oil type (mineral oil)
9.2.2 BY APPLICATION
9.2.2.1 By sub-application (transformer)
9.2.3 BY END USER
9.2.4 BY COUNTRY
9.2.4.1 China
9.2.4.1.1 Increasing investments in T&D sector expected to drive Chinas transformer oil market
9.2.4.2 India
9.2.4.2.1 Rise in power generation expected to drive Indias transformer oil market
9.2.4.3 Japan
9.2.4.3.1 Growing infrastructure alongside growth in power substations expected to drive Japans market for transformer oil
9.2.4.4 South Korea
9.2.4.4.1 Government initiative toward renewable power generation expected to increase South Koreas demand for transformer oil
9.2.4.5 Australia
9.2.4.5.1 Rapid industrialization with growing power requirements expected to boost Australias demand for transformer oil
9.2.4.6 Rest of APAC
9.2.4.6.1 Increase in population with growing power industry expected to increase demand for transformer oil
9.3 EUROPE
9.3.1 BY OIL TYPE
9.3.1.1 By sub oil type (mineral oil)
9.3.2 BY APPLICATION
9.3.2.1 By sub-application (transformer)
9.3.3 BY END USER
9.3.4 BY COUNTRY
9.3.4.1 Germany
9.3.4.1.1 Growing economy along with sustainable growth in renewable sector expected to boost Germanys transformer oil market
9.3.4.2 Russia
9.3.4.2.1 Governments focus on renewable energy with increasing investments in solar industry expected to fuel Russias transformer oil market growth
9.3.4.3 UK
9.3.4.3.1 Increasing investments in renewables with high industrialization expected to drive UKs transformer oil market
9.3.4.4 France
9.3.4.4.1 Growth in renewable energy consumption expected to increase demand for transformer oil in France
9.3.4.5 Rest of Europe
9.3.4.5.1 Growth in infrastructure with increasing power generation from renewable sector expected to boost transformer oil market in Rest of Europe
9.4 NORTH AMERICA
9.4.1 BY OIL TYPE
9.4.1.1 By sub oil type (mineral oil)
9.4.2 BY APPLICATION
9.4.2.1 By sub-application (transformer)
9.4.3 BY END-USER
9.4.4 BY COUNTRY
9.4.4.1 US
9.4.4.1.1 Upgrades of existing power infrastructure expected to drive US transformer oil market
9.4.4.2 Canada
9.4.4.2.1 Growing demand for replacement of aging electricity infrastructure expected to drive Canadian market
9.4.4.3 Mexico
9.4.4.3.1 Investment in electric infrastructure expected to boost Mexican transformer oil market
9.5 ROW
9.5.1 BY OIL TYPE
9.5.1.1 By sub oil type (mineral oil)
9.5.2 BY APPLICATION
9.5.2.1 By sub-application (transformer)
9.5.3 BY END-USER
9.5.4 BY REGION
9.5.4.1 Middle East
9.5.4.1.1 Growing investments in renewable energy expected to increase demand for transformer oil in Middle East
9.5.4.2 Africa
9.5.4.2.1 Growing industrial and commercial sectors expected to drive African transformer oil market
9.5.4.3 South America
9.5.4.3.1 Growing power generation capacity expected to drive South American market for transformer oil
10 COMPETITIVE LANDSCAPE (Page No. - 111)
10.1 OVERVIEW
10.2 COMPETITIVE LEADERSHIP MAPPING (OVERALL MARKET)
10.2.1 VISIONARY LEADERS
10.2.2 INNOVATORS
10.2.3 DYNAMIC DIFFERENTIATORS
10.2.4 EMERGING
10.3 MARKET SHARE, 2018
10.4 COMPETITIVE SCENARIO
10.4.1 NEW PRODUCT LAUNCHES
10.4.2 MERGERS & ACQUISITIONS
10.4.3 CONTRACTS & AGREEMENTS
10.4.4 INVESTMENTS & EXPANSIONS
11 COMPANY PROFILES (Page No. - 118)
11.1 NYNAS AB
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MNM View)*
11.2 ERGON INTERNATIONAL
11.3 PETROCHINA COMPANY LIMITED
11.4 APAR INDUSTRIES
11.5 SINOPEC LUBRICANT
11.6 CALUMET SPECIALTY PRODUCTS PARTNERS
11.7 HYDRODEC GROUP
11.8 CARGILL INCORPORATED
11.9 ENGEN PETROLEUM LIMITED
11.10 EXXONMOBIL
11.11 ROYAL DUTCH SHELL
11.12 GULF OIL INTERNATIONAL
11.13 M&I MATERIALS LIMITED
11.14 PHILLIPS 66
11.15 DOW
11.16 VALVOLINE CUMMINS
11.17 SAN JOAQUIN REFINING
11.18 RADCO INDUSTRIES
11.19 HYRAX OIL SDN BHD
11.20 LUBRITA
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MNM View might not be captured in case of unlisted companies.
12 APPENDIX (Page No. - 151)
12.1 INSIGHTS OF INDUSTRY EXPERTS
12.2 DISCUSSION GUIDE
12.3 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
12.4 AVAILABLE CUSTOMIZATIONS
12.5 RELATED REPORTS
12.6 AUTHOR DETAILS
LIST OF TABLES (137 TABLES)
TABLE 1 TRANSFORMER OIL MARKET SNAPSHOT
TABLE 2 RENEWABLE ELECTRICITY GENERATION TARGETS OF MAJOR COUNTRIES (2030-2040)
TABLE 3 TRANSFORMER OIL MARKET, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 4 TRANSFORMER OIL MARKET, BY OIL TYPE, 20182025 (THOUSAND TONS)
TABLE 5 MINERAL OIL: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 6 SUB OIL TYPE (MINERAL OIL): TRANSFORMER OIL MARKET, BY SUB OIL TYPE, 20182025 (USD MILLION)
TABLE 7 SUB OIL TYPE (MINERAL OIL): TRANSFORMER OIL MARKET, BY SUB OIL TYPE, 20182025 (THOUSAND TONS)
TABLE 8 NAPHTHENIC TYPE (MINERAL OIL): TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 9 PARAFFINIC TYPE (MINERAL OIL): TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 10 SILICONE: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 11 BIO-BASED OIL: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 12 TRANSFORMER OIL MARKET, BY APPLICATION, 20182025 (USD MILLION)
TABLE 13 TRANSFORMER OIL MARKET, BY APPLICATION, 20182025 (THOUSAND TONS)
TABLE 14 TRANSFORMER: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 15 SUB-APPLICATION (TRANSFORMER): TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION, 20182025 (USD MILLION)
TABLE 16 SUB-APPLICATION (TRANSFORMER): TRANSFORMER OIL MARKET, BY SUB-APPLICATION, 20182025 (THOUSAND TONS)
TABLE 17 SUB-APPLICATION (POWER TRANSFORMER): TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 18 SUB-APPLICATION (DISTRIBUTION TRANSFORMER): TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 19 REACTOR: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 20 SWITCHGEAR: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 21 TRANSFORMER OIL MARKET, BY END USER, 20182025 (USD MILLION)
TABLE 22 TRANSFORMER OIL MARKET, BY END USER, 20182025 (THOUSAND TONS)
TABLE 23 TRANSMISSION AND DISTRIBUTION: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 24 POWER GENERATION: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 25 RAILWAYS & METROS: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 26 OTHERS: TRANSFORMER OIL MARKET, BY REGION, 20182025 (USD MILLION)
TABLE 27 TRANSFORMER OIL MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 28 TRANSFORMER OIL MARKET SIZE, BY REGION, 20182025 (THOUSAND TONS)
TABLE 29 APAC: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 30 APAC: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 31 APAC: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 32 APAC: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 33 APAC: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 34 APAC: TRANSFORMER OIL MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
TABLE 35 CHINA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 36 CHINA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 37 CHINA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 38 CHINA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 39 CHINA: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 40 INDIA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 41 INDIA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 42 INDIA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 43 INDIA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 44 INDIA: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 45 JAPAN: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 46 JAPAN: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 47 JAPAN: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 48 JAPAN: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 49 JAPAN: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 50 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 51 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 52 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 53 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 54 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 55 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 56 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 57 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 58 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 59 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 60 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 61 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 62 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 63 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 64 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 65 EUROPE: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 66 EUROPE: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 67 EUROPE: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 68 EUROPE: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 69 EUROPE: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 70 EUROPE: TRANSFORMER OIL MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
TABLE 71 GERMANY: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 72 GERMANY: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 73 GERMANY: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 74 GERMANY: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 75 GERMANY: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 76 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 77 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 78 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 79 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 80 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 81 UK: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 82 UK: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 83 UK: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 84 UK: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 85 UK: TRANSFORMER OIL MARKET SIZE, BY END USER, 20182025 (USD MILLION)
TABLE 86 FRANCE: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 87 FRANCE: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 88 FRANCE: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 89 FRANCE: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 90 FRANCE: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 91 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 92 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 93 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 94 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 95 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 96 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 97 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 98 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 99 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 100 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 101 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY COUNTRY, 20182025 (USD MILLION)
TABLE 102 US: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 103 US: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 104 US: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 105 US: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 106 US: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 107 CANADA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 108 CANADA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 109 CANADA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 110 CANADA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 111 CANADA: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 112 MEXICO: TRANSFORMER OIL MARKET SIZE, BY TYPE, 20182025 (USD MILLION)
TABLE 113 MEXICO: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 114 MEXICO: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 115 MEXICO: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 116 MEXICO: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 117 ROW: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 118 ROW: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 119 ROW: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 120 ROW: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 121 ROW: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 122 ROW: TRANSFORMER OIL MARKET SIZE, BY REGION, 20182025 (USD MILLION)
TABLE 123 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 124 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 125 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 126 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 127 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 128 AFRICA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 129 AFRICA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 130 AFRICA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 131 AFRICA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 132 AFRICA: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
TABLE 133 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 20182025 (USD MILLION)
TABLE 134 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 20182025 (USD MILLION)
TABLE 135 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 20182025 (USD MILLION)
TABLE 136 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 20182025 (USD MILLION)
TABLE 137 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY END-USER, 20182025 (USD MILLION)
LIST OF FIGURES (42 FIGURES)
FIGURE 1 TRANSFORMER OIL MARKET: RESEARCH DESIGN
FIGURE 2 MAIN METRICS CONSIDERED WHILE CONSTRUCTING AND ASSESSING DEMAND FOR TRANSFORMER OIL
FIGURE 3 TRANSFORMER OIL MARKET: INDUSTRY/COUNTRY ANALYSIS
FIGURE 4 DATA TRIANGULATION METHODOLOGY
FIGURE 5 KEY SERVICE PROVIDERS POINTS OF VIEW
FIGURE 6 MINERAL OIL SEGMENT IS EXPECTED TO DOMINATE TRANSFORMER OIL MARKET, BY TYPE, DURING FORECAST PERIOD
FIGURE 7 TRANSFORMER SEGMENT IS EXPECTED TO DOMINATE TRANSFORMER OIL MARKET, BY APPLICATION, DURING FORECAST PERIOD
FIGURE 8 T&D SEGMENT IS EXPECTED TO HOLD LARGEST SIZE OF TRANSFORMER OIL MARKET, BY END USER, IN 2025
FIGURE 9 APAC DOMINATED TRANSFORMER OIL MARKET IN 2019
FIGURE 10 GROWING POWER REQUIREMENTS AND UPGRADATION OF AGING ELECTRICAL INFRASTRUCTURE ARE EXPECTED TO DRIVE TRANSFORMER OIL MARKET, 20202025
FIGURE 11 APAC IS EXPECTED TO HOLD LARGEST SHARE OF TRANSFORMER OIL MARKET IN 2025
FIGURE 12 MINERAL OIL SEGMENT DOMINATED TRANSFORMER OIL MARKET, BY TYPE, IN 2019
FIGURE 13 TRANSFORMER SEGMENT DOMINATED TRANSFORMER OIL MARKET, BY APPLICATION, IN 2019
FIGURE 14 T&D SEGMENT DOMINATED TRANSFORMER OIL MARKET, BY END USER, IN 2019
FIGURE 15 TRANSFORMER OIL MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
FIGURE 16 GLOBAL T&D INVESTMENT, 2012-2018 (USD BILLION)
FIGURE 17 RENEWABLE ENERGY INVESTMENT SCENARIO (2025-2030) (USD BILLION)
FIGURE 18 TRANSFORMER OIL MARKET, BY OIL TYPE, 2019
FIGURE 19 TRANSFORMER OIL MARKET, BY APPLICATION, 2019
FIGURE 20 TRANSFORMER OIL MARKET, BY END USER, 2019 (VALUE)
FIGURE 21 REGIONAL SNAPSHOT: MARKET IN APAC IS EXPECTED TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
FIGURE 22 TRANSFORMER OIL MARKET SHARE (VALUE), BY REGION, 2019
FIGURE 23 APAC: REGIONAL SNAPSHOT (2019)
FIGURE 24 NORTH AMERICA: REGIONAL SNAPSHOT (2019)
FIGURE 25 KEY DEVELOPMENTS IN TRANSFORMER OIL MARKET, 20142020
FIGURE 26 COMPETITIVE LEADERSHIP MAPPING (OVERALL MARKET)
FIGURE 27 NYNAS AB TECHNOLOGIES LED TRANSFORMER OIL MARKET IN 2018
FIGURE 28 NYNAS AB: COMPANY SNAPSHOT
FIGURE 29 NYNAS AB: SWOT ANALYSIS
FIGURE 30 ERGON INTERNATIONAL: SWOT ANALYSIS
FIGURE 31 PETROCHINA COMPANY LIMITED: COMPANY SNAPSHOT
FIGURE 32 PETROCHINA COMPANY LIMITED: SWOT ANALYSIS
FIGURE 33 APAR INDUSTRIES: COMPANY SNAPSHOT
FIGURE 34 APAR INDUSTRIES: SWOT ANALYSIS
FIGURE 35 SINOPEC LUBRICANT: SWOT ANALYSIS
FIGURE 36 CALUMET SPECIALITY PRODUCTS PARTNERS: COMPANY SNAPSHOT
FIGURE 37 HYDRODEC GROUP: COMPANY SNAPSHOT
FIGURE 38 CARGILL INCORPORATED: COMPANY SNAPSHOT
FIGURE 39 EXXONMOBIL: COMPANY SNAPSHOT
FIGURE 40 ROYAL DUTCH SHELL: COMPANY SNAPSHOT
FIGURE 41 PHILLIPS 66: COMPANY SNAPSHOT
FIGURE 42 DOW: COMPANY SNAPSHOT
This study involved 4 major activities in estimating the current size of the transformer oil market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through rigorous primary research. Both top-down and bottom-up approaches were used to estimate the total market size. The market breakdown and data triangulation techniques were employed to estimate the market size of the segments and the corresponding subsegments.
This research study involved the use of extensive secondary sources, directories, and databases, such as UNCTAD data, industry publications, several newspaper articles, Statista Industry Journal, Factiva, and transformer oil journals to identify and collect information useful for a technical, market-oriented, and commercial study of the transformer oil market. The other secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.
The transformer oil market comprises several stakeholders, such as technicians and repair personnel, companies in the transformer industry, companies in the switchgear industry, reactor manufacturing companies, government and research organizations, investment banks, third-party testing companies, medical equipment manufacturing companies, and state and national regulatory authorities.
The supply side is characterized by the increasing adoption of new product launches, contracts & agreements, and mergers & acquisitions among leading players. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The breakdown of primary respondents is given below:
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Both top-down and bottom-up approaches have been used to estimate and validate the size of the global transformer oil market and its dependent submarkets. These methods were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
After arriving at the overall market size-using the market size estimation processes as explained above-the market was split into several segments and subsegments. To complete the entire market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the transformer oil market.
With the given market data, MarketsandMarkets offers customizations as per the clients specific needs. The following customization options are available for this report:
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