Materials & Chemicals / Transformer Oil Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions And By Key Players: Petrochina, Apar Industry, CNOOC, Sinopec
Transformer Oil Market - Growth, Trends And Forecast (2022 - 2027) By Types, By Application, By Regions and By Key Players: Petrochina, Apar Industry, CNOOC, Sinopec
Registering a CAGR of 6.5% over the forecast period of 2021-2027, the global Transformer Oil market is anticipated to reach the market value of US$ 1.9 billion from US$ 3.3 billion in the year 2020.
Transformer Oil Market Overview
The factors driving the growth for transformer oil are the expansion of electric grids in developing countries along with the modernization of electric grids in the developed economies due to growing industrialization and urbanization. These oils are derived from crude oil through the fractional distillation process and they offer various properties such as excellent di-electricity, high resistivity, thermal conductivity, minimum power loss, and chemical stability, among others. It plays an important role to meet the residential, commercial, and industrial energy requirements and ensure a smooth operation of the power supply transformer. During operation, transformers dissipate heat which can damage the system if not controlled. Therefore, to achieve the seamless operation of the transformer by preventing heat damage the oil is used. Application of transformer oil can also be seen in high-voltage circuit breakers and switches. Transformer oil is also used in power generation and railways.Transmission and distribution are expected to show positive growth in the market due to the growing need for electricity and the expansion of electricity distribution networks across industrial, residential, and commercial sectors.
Recent Developments:
23-Sept-2020 :Shell launches new biodegradable transformer oil- Shell has launched Shell Diala S5 BD, a new biodegradable transformer oil made from gas-to-liquids (GTL) technology. The new oil, Shell Diala S5 BD, is formulated with Sulphur-free GTL technology, which eliminates the risk of corrosion caused by corrosive Sulphur. The mineral-based transformer oil will reportedly also be offered at a lower price point than traditional ester-based biodegradable oils.
Who are the Major Players in Transformer Oil Market?
Top Key Players in the Transformer Oil Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Transformer Oil Market is fragmented with a large number of small players operating worldwide. The companies referred to in the market research report include petrochina Company Limited (NYSE:PTR), Apar Industry Limited (NSE:APARINDS.NS), CNOOC Limited (HKSE :0883.HK), Sinopec, Savita Oil, Jiangsu Gaoke, Raj Petro Specialties, JXTG, Nynas, Jiangsu Shuangjiang, Shell, and others.
What are the major Applications, Types, and Regions for Transformer Oil Market?
By Type, Transformer Oil Market has been segmented into
Mineral Oil-based Transformer Oil
Synthetic Oil-based Transformer Oil
Silicone-based Transformer Oil
Others
By Application, Transformer Oil Market has been segmented into
Ordinary Transformer
EHV Transformer
Transformer Oil Market Regional Analysis:
The rapid increase in the demand for electricity and an increase in the power generation capacity in developing countries such as India and China, along with the growth in industrial and commercial sectors, will lead to an increase in the number of substations. Growth in the number of substations will propel the demand for transformers, which will enhance the demand for transformer oil in APAC.
North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
Latin America
What is our Transformer Oil Market report scope?
Report Attributes
Report Details
Forecast Period 2022 to 2027 CAGR
CAGR of 6.5% during the review period (2022 to 2027).
By Type
Mineral Oil-based Transformer Oil
Synthetic Oil-based Transformer Oil
Silicone-based Transformer Oil
Others
By Application
Ordinary Transformer
EHV Transformer
By Companies
petrochina Company Limited (NYSE:PTR), Apar Industry Limited (NSE:APARINDS.NS), CNOOC Limited (HKSE :0883.HK), Sinopec, Savita Oil, Jiangsu Gaoke, Raj Petro Specialties, JXTG, Nynas, Jiangsu Shuangjiang, Shell, and others.
Regions Covered
North America
Europe
Asia-Pacific
Rest of the World
Countries Covered
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East & Africa
Latin America
Base Year
2022
Historical Year
2017 to 2021
Forecast Year
2022 to 2027
Number of Pages
120
Customization Available
Yes, the report can be customized as per your needs
Key Takeaways from this Transformer Oil Report
Evaluate Transformer Oil market potential through analyzing growth rates (CAGR %), Volume (Units), and Value ($M) data given at country level - for product types, end-use applications and by different industry verticals.
Understand the different dynamics influencing the market - key driving factors, challenges, and hidden opportunities.
Get in-depth insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT, and more.
Analyze the sales and distribution channels across key geographies to improve top-line revenues.
Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
Get a quick outlook on the Transformer Oil market entropy - M&As, deals, partnerships, product launches of all key players for the past 4 years.
Evaluate the supply-demand gaps, import-export statistics, and regulatory landscape for more than top 20 countries globally for the market.
Frequently Asked Questions
What is the study period of this market?
The Transformer Oil Market is studied from 2017 - 2027.
What is the growth rate of Transformer Oil Market?
The Transformer Oil Market is growing at a CAGR of 6.5% over the next 5 years.
Who are the leading key players in Transformer Oil Market?
petrochina Company Limited (NYSE:PTR), Apar Industry Limited (NSE:APARINDS.NS), CNOOC Limited (HKSE :0883.HK), Sinopec, Savita Oil, Jiangsu Gaoke, Raj Petro Specialties, JXTG, Nynas, Jiangsu Shuangjiang, Shell, and others.
What regions regions does this Transformer Oil Market report covers?
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
What are the significant types of Transformer Oil Market?
The end user’s industry application on Transformer Oil Market is
Ordinary Transformer, EHV Transformer
All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with the purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
SECONDARY RESEARCH Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
PRIMARY RESEARCH Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
MARKET ENGINEERING The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
EXPERT VALIDATION The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.