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PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1324264

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PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1324264

Transformer Oil Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

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The global transformer oil market is witnessing significant growth, primarily driven by the ever-increasing demand for electricity worldwide. The rising consumption and distribution of energy, along with the need for uninterrupted power supply, are fueling the adoption of transformer oil in power infrastructure. According to the latest research, the global transformer oil market was valued at approximately US$2 billion in 2020, with the biodegradable transformer oil segment expected to exhibit the highest growth rate through the forecast period.

Key Report Findings

The largest companies in the global transformer oil market include ABB Ltd., Cargill Inc., Nynas AB, Ergon Inc., PetroChina Company Limited, and Sinopec Corp. The mineral oil segment currently holds the largest revenue share, while the biodegradable transformer oil segment is projected to witness the highest Compound Annual Growth Rate (CAGR). Moreover, the Asia Pacific region is anticipated to dominate the global transformer oil industry in terms of profitable revenue share.

Growth Drivers

Rapidly Increasing Consumption and Distribution of Electricity: Growing urbanization, industrialization, and economic development in emerging countries like India and China have led to a surge in electricity consumption. Governments worldwide are investing in power grid development to meet this rising demand, which is positively influencing the transformer oil market.

Ease of Availability and High Compatibility of Mineral Oil: Mineral oil, widely used in transformers for cooling and insulation, is expected to dominate the market due to its cost-effectiveness and availability compared to other transformer oils.

Growth Challenges

Environmental Concerns and Volatility of Crude Oil Prices: Transformer oil being a petroleum-based product raises environmental and health concerns. Stringent environmental regulations and volatile crude oil prices could impede the growth of the transformer oil market.

Growth Opportunities Across Regions

Asia Pacific Spearheads with Shooting Investments in Electricity: Highly populated countries like India and China, along with Southeast Asia, are leading the market due to increased power demand and investments in grid infrastructure. The Asia Pacific region witnessed substantial energy investments, surpassing renewable energy investments by four times in 2019.

North America and Europe to Contribute Significantly: Expanding industrialization efforts and infrastructure development are expected to boost the transformer oil market in North America and Europe. Countries like Russia and Germany remain major consumers of transformer oil in Europe.

Key Market Players

Prominent companies in the global transformer oil market include Royal Dutch Shell, Repsol, Exxon Mobil Corporation, Engen Petroleum Limited, Sinopec Lubricant Company, APAR Industries, Cargill Incorporated, PetroChina Company Limited, Chevron Corporation, Gandhar Oil, and many others. These players are actively engaged in product launches, partnerships, acquisitions, and collaborations to gain a competitive edge in the market.

Table of Contents

1. Executive Summary

  • 1.1. Global Transformer Oil Market Snapshot
  • 1.2. Key Market Trends
  • 1.3. Future Projections
  • 1.4. Analyst Recommendations

2. Market Overview

  • 2.1. Market Definitions and Segmentations
  • 2.2. Market Dynamics
    • 2.2.1. Drivers
      • 2.2.1.1. Driver A
      • 2.2.1.2. Driver B
      • 2.2.1.3. Driver C
    • 2.2.2. Restraints
      • 2.2.2.1. Restraint 1
      • 2.2.2.2. Restraint 2
    • 2.2.3. Market Opportunities Matrix
  • 2.3. Value Chain Analysis
  • 2.4. Porter's Five Forces Analysis
  • 2.5. Covid-19 Impact Analysis
    • 2.5.1. Supply
    • 2.5.2. Demand
  • 2.6. Government Regulations
  • 2.7. Technology Roadmap
  • 2.8. Global Lubricants Market - Overview
  • 2.9. Economic Analysis
  • 2.10. PESTLE Analysis

3. Production Output Analysis, 2018 - 2022

  • 3.1. Transformer Oil Supply-Demand Analysis
  • 3.2. Regional Production Statistics
    • 3.2.1. North America
    • 3.2.2. Europe
    • 3.2.3. Asia Pacific
    • 3.2.4. Rest of the World

4. Price Trends Analysis and Future Projects, 2018 - 2030

  • 4.1. Key Highlights
  • 4.2. Prominent Factors Affecting Prices
  • 4.3. By Region

5. Global Transformer Oil Market Outlook, 2018 - 2030

  • 5.1. Global Transformer Oil Market Outlook, by Oil Type, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 5.1.1. Key Highlights
      • 5.1.1.1. Mineral Oil
        • 5.1.1.1.1. Naphthenic
        • 5.1.1.1.2. Paraffin
      • 5.1.1.2. Silicone
      • 5.1.1.3. Bio-based
  • 5.2. Global Transformer Oil Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 5.2.1. Key Highlights
      • 5.2.1.1. Transformers
      • 5.2.1.2. Switch Gears
      • 5.2.1.3. Regulators
      • 5.2.1.4. Reactors
      • 5.2.1.5. Misc.
  • 5.3. Global Transformer Oil Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 5.3.1. Key Highlights
      • 5.3.1.1. Transmission & Distribution
      • 5.3.1.2. Power Generation
      • 5.3.1.3. Railways & Metros
      • 5.3.1.4. Misc.
  • 5.4. Global Transformer Oil Market Outlook, by Region, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 5.4.1. Key Highlights
      • 5.4.1.1. North America
      • 5.4.1.2. Europe
      • 5.4.1.3. Asia Pacific
      • 5.4.1.4. Latin America
      • 5.4.1.5. Middle East & Africa

6. North America Transformer Oil Market Outlook, 2018 - 2030

  • 6.1. North America Transformer Oil Market Outlook, by Oil Type, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 6.1.1. Key Highlights
      • 6.1.1.1. Mineral Oil
        • 6.1.1.1.1. Naphthenic
        • 6.1.1.1.2. Paraffin
      • 6.1.1.2. Silicone
      • 6.1.1.3. Bio-based
  • 6.2. North America Transformer Oil Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 6.2.1. Key Highlights
      • 6.2.1.1. Transformers
      • 6.2.1.2. Switch Gears
      • 6.2.1.3. Regulators
      • 6.2.1.4. Reactors
      • 6.2.1.5. Misc.
  • 6.3. North America Transformer Oil Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 6.3.1. Key Highlights
      • 6.3.1.1. Transmission & Distribution
      • 6.3.1.2. Power Generation
      • 6.3.1.3. Railways & Metros
      • 6.3.1.4. Misc.
  • 6.4. North America Transformer Oil Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 6.4.1. Key Highlights
      • 6.4.1.1. U.S.
      • 6.4.1.2. Canada
    • 6.4.2. BPS Analysis/Market Attractiveness Analysis

7. Europe Transformer Oil Market Outlook, 2018 - 2030

  • 7.1. Europe Transformer Oil Market Outlook, by Oil Type, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 7.1.1. Key Highlights
      • 7.1.1.1. Mineral Oil
        • 7.1.1.1.1. Naphthenic
        • 7.1.1.1.2. Paraffin
      • 7.1.1.2. Silicone
      • 7.1.1.3. Bio-based
  • 7.2. Europe Transformer Oil Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 7.2.1. Key Highlights
      • 7.2.1.1. Transformers
      • 7.2.1.2. Switch Gears
      • 7.2.1.3. Regulators
      • 7.2.1.4. Reactors
      • 7.2.1.5. Misc.
  • 7.3. Europe Transformer Oil Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 7.3.1. Key Highlights
      • 7.3.1.1. Transmission & Distribution
      • 7.3.1.2. Power Generation
      • 7.3.1.3. Railways & Metros
      • 7.3.1.4. Misc.
  • 7.4. Europe Transformer Oil Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 7.4.1. Key Highlights
      • 7.4.1.1. Germany
      • 7.4.1.2. France
      • 7.4.1.3. Italy
      • 7.4.1.4. Turkey
      • 7.4.1.5. Russia
      • 7.4.1.6. Rest of Europe
    • 7.4.2. BPS Analysis/Market Attractiveness Analysis

8. Asia Pacific Transformer Oil Market Outlook, 2018 - 2030

  • 8.1. Asia Pacific Transformer Oil Market Outlook, by Oil Type, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 8.1.1. Key Highlights
      • 8.1.1.1. Mineral Oil
        • 8.1.1.1.1. Naphthenic
        • 8.1.1.1.2. Paraffin
      • 8.1.1.2. Silicone
      • 8.1.1.3. Bio-based
  • 8.2. Asia Pacific Transformer Oil Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 8.2.1. Key Highlights
      • 8.2.1.1. Transformers
      • 8.2.1.2. Switch Gears
      • 8.2.1.3. Regulators
      • 8.2.1.4. Reactors
      • 8.2.1.5. Misc.
  • 8.3. Asia Pacific Transformer Oil Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 8.3.1. Key Highlights
      • 8.3.1.1. Transmission & Distribution
      • 8.3.1.2. Power Generation
      • 8.3.1.3. Railways & Metros
      • 8.3.1.4. Misc.
  • 8.4. Asia Pacific Transformer Oil Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 8.4.1. Key Highlights
      • 8.4.1.1. China
      • 8.4.1.2. Japan
      • 8.4.1.3. South Korea
      • 8.4.1.4. India
      • 8.4.1.5. Southeast Asia
      • 8.4.1.6. Rest of Asia Pacific
    • 8.4.2. BPS Analysis/Market Attractiveness Analysis

9. Latin America Transformer Oil Market Outlook, 2018 - 2030

  • 9.1. Latin America Transformer Oil Market Outlook, by Oil Type, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 9.1.1. Key Highlights
      • 9.1.1.1. Mineral Oil
        • 9.1.1.1.1. Naphthenic
        • 9.1.1.1.2. Paraffin
      • 9.1.1.2. Silicone
      • 9.1.1.3. Bio-based
  • 9.2. Latin America Transformer Oil Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 9.2.1. Key Highlights
      • 9.2.1.1. Transformers
      • 9.2.1.2. Switch Gears
      • 9.2.1.3. Regulators
      • 9.2.1.4. Reactors
      • 9.2.1.5. Misc.
  • 9.3. Latin America Transformer Oil Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 9.3.1. Key Highlights
      • 9.3.1.1. Transmission & Distribution
      • 9.3.1.2. Power Generation
      • 9.3.1.3. Railways & Metros
      • 9.3.1.4. Misc.
  • 9.4. Latin America Transformer Oil Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 9.4.1. Key Highlights
      • 9.4.1.1. Brazil
      • 9.4.1.2. Mexico
      • 9.4.1.3. Rest of Latin America
    • 9.4.2. BPS Analysis/Market Attractiveness Analysis

10. Middle East & Africa Transformer Oil Market Outlook, 2018 - 2030

  • 10.1. Middle East & Africa Transformer Oil Market Outlook, by Oil Type, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 10.1.1. Key Highlights
      • 10.1.1.1. Mineral Oil
        • 10.1.1.1.1. Naphthenic
        • 10.1.1.1.2. Paraffin
      • 10.1.1.2. Silicone
      • 10.1.1.3. Bio-based
  • 10.2. Middle East & Africa Transformer Oil Market Outlook, by Application, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 10.2.1. Key Highlights
      • 10.2.1.1. Transformers
      • 10.2.1.2. Switch Gears
      • 10.2.1.3. Regulators
      • 10.2.1.4. Reactors
      • 10.2.1.5. Misc.
  • 10.3. Middle East & Africa Transformer Oil Market Outlook, by End-user, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 10.3.1. Key Highlights
      • 10.3.1.1. Transmission & Distribution
      • 10.3.1.2. Power Generation
      • 10.3.1.3. Railways & Metros
      • 10.3.1.4. Misc.
  • 10.4. Middle East & Africa Transformer Oil Market Outlook, by Country, Volume (Kilo Tons) and Value (US$ Mn), 2018 - 2030
    • 10.4.1. Key Highlights
      • 10.4.1.1. GCC
      • 10.4.1.2. South Africa
      • 10.4.1.3. East Africa
      • 10.4.1.4. Rest of Middle East & Africa
    • 10.4.2. BPS Analysis/Market Attractiveness Analysis

11. Competitive Landscape

  • 11.1. Company Market Share Analysis, 2022
  • 11.2. Manufacturer Portfolio Matrix
  • 11.3. Competitive Dashboard
  • 11.4. Tier Structure Analysis
  • 11.5. Company Profiles
    • 11.5.1. Royal Dutch Shell
      • 11.5.1.1. Company Overview
      • 11.5.1.2. Product Portfolio
      • 11.5.1.3. Financial Overview
      • 11.5.1.4. Business Strategies and Development
    • 11.5.2. ExxonMobil
    • 11.5.3. Chevron
    • 11.5.4. Total SA
    • 11.5.5. Lukoil
    • 11.5.6. Sinopec
    • 11.5.7. Fuchs
    • 11.5.8. Valvoline
    • 11.5.9. Nynas AB
    • 11.5.10. HP Lubricants
    • 11.5.11. BP
    • 11.5.12. Repsol SA
    • 11.5.13. Savita Oil Technologies Ltd.

12. Appendix

  • 12.1. Research Methodology
  • 12.2. Report Assumptions
  • 12.3. Acronyms and Abbreviations
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