Transformer Oil Market

Transformer Oil Market by Type (Mineral Oil, Silicone, and Bio-based), Application (Transformer, Switchgear, and Reactor), End-user (Transmission and Distribution, Power Generation, Railways & Metros, and Others), and Region - Global Forecast to 2025

Report Code: EP 2454 Apr, 2020, by marketsandmarkets.com
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Transformer oil Market

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:

  • Nynas AB (Sweden)
  • Ergon International (Belgium)
  • PetroChina Company Limited (China)
  • Apar Industries (India)
  • Sinopec Lubricant (China)
  • Royal Dutch Shell (Netherlands)
  • ExxonMobil (US)
  • Calumet Specialty Products (US)
  • Cargill Incorporated (US)
  • Gulf Oil International (UK)

  • Nynas AB (Sweden) – Nynas AB is an oil company that transforms crude oil into high-quality bitumen and naphthenic specialty oil. The company conducts its business through Naphthenic and Bitumen segments. The company’s transformer oil is used in a wide range of applications such as power transformers, distribution transformers, switchgear, and reactors. 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 (Belgium)– Ergon International is a part of Ergon, Inc. and is one of the leading producers of naphthenic oil globally. Ergon International offers naphthenic transformer oil under its HyVolt Insulating Oil segment with an extremely low pour point and high oxidation stability for various applications such as power and distribution transformers, circuit breakers, and switchgear. 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.
  • PetroChina Company Limited (China) – PetroChina Company Limited is one of the largest oil & gas companies in the world and is among the leading producers and distributors in China. It offers transformer oil through its Refining and Chemicals segment under the brand name Kunlun. PetroChina Company Limited has its business operations in oil & gas in over 30 countries such as the UK, France, Brazil, Japan, and Singapore. It also has a nationwide network of sales terminals along with approximately 21,000 service stations in China and Hong Kong.
  • Apar Industries (India) – Apar Industries is a manufacturer of synthetic rubbers, latexes, and aluminum conductors that is also operational in the diverse fields of metallurgical and electrical engineering. The company has a global presence in more than 90 countries with a major focus on South East Asia, Africa, the Middle East, and South America. Apar Industries has a manufacturing and distribution model for specialty oils for global transformer OEMs across Australia, Africa, and Asia.
  • Sinopec Lubricant (China)– Sinopec Lubricant is a subsidiary of Sinopec Group and is among the leading manufacturers of lubricants across the globe. Sinopec Lubricant has one of the largest lubricant production capacity, with over 1.46 million tons of packaged lubricants per year. The company has 11 domestic lube oil & grease blending and manufacturing branches and 1 branch company in Singapore. It also has R&D centers in Beijing and Shanghai which integrate the function of lubricant storage, transportation, manufacturing, and sales.
  • Royal Dutch Shell (Netherlands) – Royal Dutch Shell is an energy company engaged in the production, exploration, and refining of oil & gas and chemical manufacturing. The company provides transformer oil under its brand name Shell Diala through the Downstream business segment. The company has its presence in more than 100 countries such as Brazil, Canada, the US, China, Australia, Japan, Germany, the UK, and Saudi Arabia. It has four base oil manufacturing plants, 9 grease plants, 31 lubricant blending plants, and 3 GTL base oil storage hubs.
  • ExxonMobil (US) – ExxonMobil manufactures, sells, and transports petroleum products and is also engaged in the production, exploration, and transportation of crude oil and natural gas. The company has 3 business segments— Upstream, Downstream, and Chemical. ExxonMobil has its presence in more than 40 countries such as China, Australia, Saudi Arabia, the UK, Germany, Brazil, the US, and Canada. It has more than 10,000 patents granted globally and has 4 chemical manufacturing plants in Texas and Louisiana in North America.
  • Calumet Specialty Products (US) – Calumet Specialty Products is a manufacturer of specialty hydrocarbon products and processes crude oil and other feedstocks into customized lubricating oils, waxes, and solvents. The company operates through 2 segments, namely Fuel Products and Specialty Products. It offers transformer oil and various products such as customized lubricating oils, solvents, white mineral oils and petrolatum under its Specialty Products segment.
  • Cargill Incorporated (US) ­­­– Cargill Incorporated is a food and beverage manufacturer and also one of the leading producers of bio-based dielectric fluid. Cargill Incorporated has its presence in more than 70 countries such as China, Singapore, Netherlands, the UK, Brazil, and the US. It has its dielectric fluid manufacturing facility in India. It also has more than 1,500 research, development, and technical services and intellectual property specialists working in more than 200 locations such as Beijing and the US.
  • Gulf Oil International (UK) ­­­– Gulf Oil International, a part of Hinduja Group, is one of the leading manufacturers of lubricants and car care products. The company’s products cater to various applications such as automotive, commercial & fleet transport, general industrial products, agriculture, and Gulf oil marine. The company operates in more than 100 countries such as Brazil, Mexico, Argentina, China, and the US.

Transformer oil Market and Top End User

Top end users in transformer oil Market are:

  • Transmission and Distribution
  • Railways & Metros

  • Transmission and distribution – Transmission and distribution utilities are the major end users of the transformer oil market as they own the electrical equipment used in transmission and distribution, such as transformers, switchgears, and reactors. Transmission and distribution utilities include non-renewable and renewable sources of energy to fulfil the demand for electricity. Thus, growing investment in transmission and distribution networks will propel the demand for transformer oil.
  • Railways & Metros – Railways & metros purchase electricity from electric utilities, but in some cases, they have their own dedicated generating stations, as well as transmission lines. Mostly railways provide their own transformer and switchgears. Growing investments in railways and metros due to growing urbanization will lead to an increase in investment towards railway electrification system which is likely to boost the growth of the transformer oil market.

Transformer oil Market and Top Application

Top application in transformer oil market are:

  • Transformer
  • Reactor

  • Transformer – As the transformer operates, it produces large amounts of heat, which can result in fire. To avoid such situations, transformer oils are used to maintain the temperature of transformers. These oils are used in majorly for cooling, insulation, and heat dispersion of oil-filled electrical equipment. They are also used to preserve the core winding of transformers. Transformer oils are extensively used in power and distribution transformers. Growing power demands and aging transformers are likely to lead to the installation of new transformers, which is anticipated to increase the demand for transformer oils.
  • Reactor – Reactors are used to improve the efficiency and stability of electrical systems. They give reluctance to changes in current or modify phase shifts between voltages and current. In essence, reactors are used for controlling the voltage and are used in parallel or series with the grid. Transformer oils are used in reactors for cooling and insulating purposes. Reactors are used along with the transformers in substations. Thus, growing demand for transformers and investments in the power sector is likely to enhance the demand for transformer oil.

Transformer oil Market and Top Use Cases

Top use cases in transformer oil Market are:

  • January 2020 – Ergon International expanded its naphthenic refinery in Vicksburg, Mississippi, which will help the company position itself, helping it to ensure its longevity of systems and operations.
  • October 2019 – Nynas AB launched NYTRO BIO 300X, a 100% renewable transformer oil, that reduces a transformer’s winding hot spot temperature and combines biodegradability with superior oxidation stability.
  • August 2018 – Ergon International acquired a thermoplastic resins and polymers manufacturing company named Resinall Mississippi, which had its manufacturing facilities in North Carolina. The acquisition is expected to help the company to move into the specialty chemical market and help the company become a key player in refining and specialty products, such as transformer oil.

[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.

Transformer Oil Market

The transmission and distribution segment is expected to be the largest market during the forecast period

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 mineral oil segment is expected to be the fastest-growing segment in the transformer oil market, by type, during the forecast period

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 transformer’s 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 segment is expected to hold the largest share of the transformer oil 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.

Transformer Oil Market

APAC is expected to be the fastest-growing transformer oil market during the forecast period

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.

Key Market Players

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.

Scope of the Report

Report Metric

Details

Market size available for years

2018–2025

Base year considered

2019

Forecast period

2020–2025

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.

By Type:

  • Mineral
  • Silicone
  • Bio-based

By Application:

  • Transformer
  • Switchgear
  • Reactor

By End-user:

  • Transmission and Distribution
  • Power Generation
  • Railways & Metros
  • Others

By Region:

  • Asia Pacific
  • North America
  • Europe
  • Rest of the World

Recent Developments

  • In February 2020, Nynas AB extended the product reach of NYTRO BIO 300X transformer oil in the Middle East, which is the world’s first high-performance bio-based transformer hydrocarbon fluid made from renewable sources. NYTRO BIO 300X is a solution to the challenge of keeping transformers cool in the hot climate of the Middle East.
  • In January 2020, Nynas AB increased the capacity at its depot in Perth Amboy, US, to enhance its services. Previously, only process and base oils were kept in stock at the New Jersey depot, but now, NYTRO 11GBX transformer oil has been added to bring value to the customers by ensuring smooth and cost-efficient deliveries.
  • In January 2020, Ergon International expanded its naphthenic refinery in Vicksburg, Mississippi, which will help the company position itself, ensuring its longevity of systems and operations.
  • In October 2019, Nynas AB launched NYTRO BIO 300X, a 100% renewable transformer oil. NYTRO BIO 300X reduces a transformer’s winding hot spot temperature and combines biodegradability with superior oxidation stability.

Critical questions the report answers:

  • Which revolutionary technology trends are expected over the next 5 years?
  • Which elements of the transformer oil market are expected to lead by 2025?
  • Which type of transformer oil is likely to get the maximum opportunity to grow during the forecast period?
  • Which region is expected to lead with the highest market share by 2025?
  • How are companies implementing organic and inorganic strategies to gain an increase in their market share?

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 China’s transformer oil market
                    9.2.4.2 India
                               9.2.4.2.1 Rise in power generation expected to drive India’s transformer oil market
                    9.2.4.3 Japan
                               9.2.4.3.1 Growing infrastructure alongside growth in power substations expected to drive Japan’s 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 Korea’s demand for transformer oil
                    9.2.4.5 Australia
                               9.2.4.5.1 Rapid industrialization with growing power requirements expected to boost Australia’s 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 Germany’s transformer oil market
                    9.3.4.2 Russia
                               9.3.4.2.1 Government’s focus on renewable energy with increasing investments in solar industry expected to fuel Russia’s transformer oil market growth
                    9.3.4.3 UK
                               9.3.4.3.1 Increasing investments in renewables with high industrialization expected to drive UK’s 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, 2018–2025 (USD MILLION)
TABLE 4 TRANSFORMER OIL MARKET, BY OIL TYPE, 2018–2025 (THOUSAND TONS)
TABLE 5 MINERAL OIL: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 6 SUB OIL TYPE (MINERAL OIL): TRANSFORMER OIL MARKET, BY SUB OIL TYPE, 2018–2025 (USD MILLION)
TABLE 7 SUB OIL TYPE (MINERAL OIL): TRANSFORMER OIL MARKET, BY SUB OIL TYPE, 2018–2025 (THOUSAND TONS)
TABLE 8 NAPHTHENIC TYPE (MINERAL OIL): TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 9 PARAFFINIC TYPE (MINERAL OIL): TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 10 SILICONE: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 11 BIO-BASED OIL: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 12 TRANSFORMER OIL MARKET, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 13 TRANSFORMER OIL MARKET, BY APPLICATION, 2018–2025 (THOUSAND TONS)
TABLE 14 TRANSFORMER: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 15 SUB-APPLICATION (TRANSFORMER): TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION, 2018–2025 (USD MILLION)
TABLE 16 SUB-APPLICATION (TRANSFORMER): TRANSFORMER OIL MARKET, BY SUB-APPLICATION, 2018–2025 (THOUSAND TONS)
TABLE 17 SUB-APPLICATION (POWER TRANSFORMER): TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 18 SUB-APPLICATION (DISTRIBUTION TRANSFORMER): TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 19 REACTOR: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 20 SWITCHGEAR: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 21 TRANSFORMER OIL MARKET, BY END USER, 2018–2025 (USD MILLION)
TABLE 22 TRANSFORMER OIL MARKET, BY END USER, 2018–2025 (THOUSAND TONS)
TABLE 23 TRANSMISSION AND DISTRIBUTION: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 24 POWER GENERATION: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 25 RAILWAYS & METROS: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 26 OTHERS: TRANSFORMER OIL MARKET, BY REGION, 2018–2025 (USD MILLION)
TABLE 27 TRANSFORMER OIL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 28 TRANSFORMER OIL MARKET SIZE, BY REGION, 2018–2025 (THOUSAND TONS)
TABLE 29 APAC: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 30 APAC: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 31 APAC: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 32 APAC: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 33 APAC: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 34 APAC: TRANSFORMER OIL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 35 CHINA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 36 CHINA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 37 CHINA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 38 CHINA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 39 CHINA: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 40 INDIA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 41 INDIA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 42 INDIA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 43 INDIA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 44 INDIA: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 45 JAPAN: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 46 JAPAN: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 47 JAPAN: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 48 JAPAN: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 49 JAPAN: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 50 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 51 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 52 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 53 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 54 SOUTH KOREA: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 55 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 56 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 57 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 58 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 59 AUSTRALIA: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 60 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 61 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 62 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 63 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 64 REST OF APAC: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 65 EUROPE: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 66 EUROPE: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 67 EUROPE: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 68 EUROPE: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 69 EUROPE: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 70 EUROPE: TRANSFORMER OIL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 71 GERMANY: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 72 GERMANY: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 73 GERMANY: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 74 GERMANY: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 75 GERMANY: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 76 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 77 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 78 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 79 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 80 RUSSIA: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 81 UK: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 82 UK: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 83 UK: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 84 UK: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 85 UK: TRANSFORMER OIL MARKET SIZE, BY END USER, 2018–2025 (USD MILLION)
TABLE 86 FRANCE: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 87 FRANCE: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 88 FRANCE: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 89 FRANCE: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 90 FRANCE: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 91 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 92 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 93 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 94 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 95 REST OF EUROPE: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 96 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 97 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 98 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 99 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 100 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 101 NORTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY COUNTRY, 2018–2025 (USD MILLION)
TABLE 102 US: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 103 US: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 104 US: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 105 US: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 106 US: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 107 CANADA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 108 CANADA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 109 CANADA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 110 CANADA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 111 CANADA: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 112 MEXICO: TRANSFORMER OIL MARKET SIZE, BY TYPE, 2018–2025 (USD MILLION)
TABLE 113 MEXICO: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 114 MEXICO: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 115 MEXICO: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 116 MEXICO: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 117 ROW: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 118 ROW: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 119 ROW: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 120 ROW: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 121 ROW: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 122 ROW: TRANSFORMER OIL MARKET SIZE, BY REGION, 2018–2025 (USD MILLION)
TABLE 123 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 124 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 125 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 126 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 127 MIDDLE EAST: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 128 AFRICA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 129 AFRICA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 130 AFRICA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 131 AFRICA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 132 AFRICA: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (USD MILLION)
TABLE 133 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY OIL TYPE, 2018–2025 (USD MILLION)
TABLE 134 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY SUB OIL TYPE (MINERAL OIL), 2018–2025 (USD MILLION)
TABLE 135 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY APPLICATION, 2018–2025 (USD MILLION)
TABLE 136 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY SUB-APPLICATION (TRANSFORMER), 2018–2025 (USD MILLION)
TABLE 137 SOUTH AMERICA: TRANSFORMER OIL MARKET SIZE, BY END-USER, 2018–2025 (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, 2020–2025
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, 2014–2020
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.

Secondary Research

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. 

Primary Research

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:

Transformer Oil Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

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:

  • The key players in the industry and demand side have been identified through extensive secondary research, and their market shares in the respective regions have been determined through both primary and secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares split and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

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.

Report Objectives

  • To define, describe, and forecast the global transformer oil market based on type, application, end-user, and region
  • To provide detailed information regarding the major factors influencing the growth of the transformer oil market (drivers, restraints, opportunities, and industry-specific challenges)
  • To strategically analyze the transformer oil market with respect to individual growth trends, prospects, and contributions of each segment to the market
  • To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders
  • To benchmark players within the market using the proprietary Vendor DIVE framework, which analyzes the market players on various parameters within the broad categories of business and product strategies
  • To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, and mergers & acquisitions in the transformer oil market

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the client’s specific needs. The following customization options are available for this report:

Product Analysis

  • Product Matrix, which provides a detailed comparison of the product portfolio of each company

Company Information

  • Detailed analysis and profiling of additional market players
Report Code
EP 2454
Published ON
Apr, 2020
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