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PUBLISHER: IMARC | PRODUCT CODE: 1347669
PUBLISHER: IMARC | PRODUCT CODE: 1347669
Transformer Oil Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
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PAGES: 149 Pages
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Market Overview:
The global transformer oil market size reached US$ 2.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6.9% during 2023-2028.
Transformer oil is used in electrical power transformers to serve as a coolant and suppress corona discharge. Also known as insulating oil, it is a specialty product that remains stable at high temperatures and offers excellent electrical insulation. As a result, it is also used in high-voltage capacitors, fluorescent lamp ballasts, and high-voltage switches as well as circuit breakers. It acts as a barrier between oxygen and cellulose to avoid direct contact with different components of transformers and prevent oxidation.
One of the major factors driving the transformer oil market is the rising transmission and distribution of electricity across the globe. Owing to rapid urbanization and industrialization, a rise in the consumption of electricity is being witnessed, particularly in emerging markets with a high population density, such as India and China. In line with this, governments in these countries are undertaking initiatives to provide an uninterrupted power supply and expanding the existing grid infrastructure, which in turn is influencing the market growth. Moreover, increasing investments in the improvement of power grids in developed regions like Europe and North America also act as a major growth-inducing factor. Although mineral-based transformer oil currently dominates the market, manufacturers are focusing on introducing safer and green products owing to the increasing environmental consciousness across the globe. For instance, bio-based transformer oils, which are produced using renewable raw materials such as vegetable oils, are gaining traction in the market due to their biodegradable and eco-friendly nature.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global transformer oil market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, function, end-use and application.
Breakup by Type:
Napthenic Oil
Paraffinic Oil
Silicone-Based
Bio-Based
Others
Breakup by Function:
Insulator
Cooling Agent
Lubricant
Chemical Stabilizer
Breakup by End-Use:
Small Transformers
Large Transformers
Utility
Others
Breakup by Application:
Residential
Commercial
Industrial
Breakup by Region:
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the key players being Calumet Specialty Products Partners L.P., Cargill, Incorporated, Engen Petroleum Limited, Ergon Inc., Edens Garden, Inc., Hydrodec Group plc, Nynas AB, PetroChina Company Limited, San Joaquin Refining Co. Inc., China Petroleum & Chemical Corporation (SINOPEC), and Valvoline Inc.
Key Questions Answered in This Report:
- How has the global transformer oil market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global transformer oil market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the function?
- What is the breakup of the market based on the end-use?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the market?
- What is the structure of the global transformer oil market and who are the key players?
- What is the degree of competition in the market?
Product Code: SR112023A1903
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Transformer Oil Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Napthenic Oil
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Paraffinic Oil
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Silicone-Based
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Bio-Based
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Others
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
7 Market Breakup by Function
- 7.1 Insulator
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Cooling Agent
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
- 7.3 Lubricant
- 7.3.1 Market Trends
- 7.3.2 Market Forecast
- 7.4 Chemical Stabilizer
- 7.4.1 Market Trends
- 7.4.2 Market Forecast
8 Market Breakup by End-Use
- 8.1 Small Transformers
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Large Transformers
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Utility
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Others
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
9 Market Breakup by Application
- 9.1 Residential
- 9.1.1 Market Trends
- 9.1.2 Market Forecast
- 9.2 Commercial
- 9.2.1 Market Trends
- 9.2.2 Market Forecast
- 9.3 Industrial
- 9.3.1 Market Trends
- 9.3.2 Market Forecast
10 Market Breakup by Region
- 10.1 North America
- 10.1.1 United States
- 10.1.1.1 Market Trends
- 10.1.1.2 Market Forecast
- 10.1.2 Canada
- 10.1.2.1 Market Trends
- 10.1.2.2 Market Forecast
- 10.1.1 United States
- 10.2 Asia Pacific
- 10.2.1 China
- 10.2.1.1 Market Trends
- 10.2.1.2 Market Forecast
- 10.2.2 Japan
- 10.2.2.1 Market Trends
- 10.2.2.2 Market Forecast
- 10.2.3 India
- 10.2.3.1 Market Trends
- 10.2.3.2 Market Forecast
- 10.2.4 South Korea
- 10.2.4.1 Market Trends
- 10.2.4.2 Market Forecast
- 10.2.5 Australia
- 10.2.5.1 Market Trends
- 10.2.5.2 Market Forecast
- 10.2.6 Indonesia
- 10.2.6.1 Market Trends
- 10.2.6.2 Market Forecast
- 10.2.7 Others
- 10.2.7.1 Market Trends
- 10.2.7.2 Market Forecast
- 10.2.1 China
- 10.3 Europe
- 10.3.1 Germany
- 10.3.1.1 Market Trends
- 10.3.1.2 Market Forecast
- 10.3.2 France
- 10.3.2.1 Market Trends
- 10.3.2.2 Market Forecast
- 10.3.3 United Kingdom
- 10.3.3.1 Market Trends
- 10.3.3.2 Market Forecast
- 10.3.4 Italy
- 10.3.4.1 Market Trends
- 10.3.4.2 Market Forecast
- 10.3.5 Spain
- 10.3.5.1 Market Trends
- 10.3.5.2 Market Forecast
- 10.3.6 Russia
- 10.3.6.1 Market Trends
- 10.3.6.2 Market Forecast
- 10.3.7 Others
- 10.3.7.1 Market Trends
- 10.3.7.2 Market Forecast
- 10.3.1 Germany
- 10.4 Latin America
- 10.4.1 Brazil
- 10.4.1.1 Market Trends
- 10.4.1.2 Market Forecast
- 10.4.2 Mexico
- 10.4.2.1 Market Trends
- 10.4.2.2 Market Forecast
- 10.4.3 Others
- 10.4.3.1 Market Trends
- 10.4.3.2 Market Forecast
- 10.4.1 Brazil
- 10.5 Middle East and Africa
- 10.5.1 Market Trends
- 10.5.2 Market Breakup by Country
- 10.5.3 Market Forecast
11 SWOT Analysis
- 11.1 Overview
- 11.2 Strengths
- 11.3 Weaknesses
- 11.4 Opportunities
- 11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
- 13.1 Overview
- 13.2 Bargaining Power of Buyers
- 13.3 Bargaining Power of Suppliers
- 13.4 Degree of Competition
- 13.5 Threat of New Entrants
- 13.6 Threat of Substitutes
14 Price Indicators
15 Competitive Landscape
- 15.1 Market Structure
- 15.2 Key Players
- 15.3 Profiles of Key Players
- 15.3.1 Calumet Specialty Products Partners L.P.
- 15.3.1.1 Company Overview
- 15.3.1.2 Product Portfolio
- 15.3.1.3 Financials
- 15.3.1.4 SWOT Analysis
- 15.3.2 Cargill, Incorporated
- 15.3.2.1 Company Overview
- 15.3.2.2 Product Portfolio
- 15.3.2.3 Financials
- 15.3.3 Engen Petroleum Limited
- 15.3.3.1 Company Overview
- 15.3.3.2 Product Portfolio
- 15.3.4 Ergon Inc.
- 15.3.4.1 Company Overview
- 15.3.4.2 Product Portfolio
- 15.3.4.3 SWOT Analysis
- 15.3.5 Edens Garden, Inc.
- 15.3.5.1 Company Overview
- 15.3.5.2 Product Portfolio
- 15.3.6 Hydrodec Group plc
- 15.3.6.1 Company Overview
- 15.3.6.2 Product Portfolio
- 15.3.6.3 Financials
- 15.3.7 Nynas AB
- 15.3.7.1 Company Overview
- 15.3.7.2 Product Portfolio
- 15.3.7.3 SWOT Analysis
- 15.3.8 PetroChina Company Limited
- 15.3.8.1 Company Overview
- 15.3.8.2 Product Portfolio
- 15.3.8.3 SWOT Analysis
- 15.3.8.4 Financials
- 15.3.9 San Joaquin Refining Co. Inc.
- 15.3.9.1 Company Overview
- 15.3.9.2 Product Portfolio
- 15.3.10 China Petroleum & Chemical Corporation (SINOPEC)
- 15.3.10.1 Company Overview
- 15.3.10.2 Product Portfolio
- 15.3.11 Valvoline Inc.
- 15.3.11.1 Company Overview
- 15.3.11.2 Product Portfolio
- 15.3.1 Calumet Specialty Products Partners L.P.
Product Code: SR112023A1903
List of Figures
- Figure 1: Global: Transformer Oil Market: Major Drivers and Challenges
- Figure 2: Global: Transformer Oil Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Transformer Oil Market: Breakup by Type (in %), 2022
- Figure 4: Global: Transformer Oil Market: Breakup by Function (in %), 2022
- Figure 5: Global: Transformer Oil Market: Breakup by End-Use (in %), 2022
- Figure 6: Global: Transformer Oil Market: Breakup by Application (in %), 2022
- Figure 7: Global: Transformer Oil Market: Breakup by Region (in %), 2022
- Figure 8: Global: Transformer Oil Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 9: Global: Transformer Oil (Napthenic Oil) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 10: Global: Transformer Oil (Napthenic Oil) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 11: Global: Transformer Oil (Paraffinic Oil) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 12: Global: Transformer Oil (Paraffinic Oil) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 13: Global: Transformer Oil (Silicone-Based) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 14: Global: Transformer Oil (Silicone-Based) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 15: Global: Transformer Oil (Bio-Based) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 16: Global: Transformer Oil (Bio-Based) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 17: Global: Transformer Oil (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 18: Global: Transformer Oil (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 19: Global: Transformer Oil (Insulator) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 20: Global: Transformer Oil (Insulator) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 21: Global: Transformer Oil (Cooling Agent) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 22: Global: Transformer Oil (Cooling Agent) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 23: Global: Transformer Oil (Lubricant) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 24: Global: Transformer Oil (Lubricant) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 25: Global: Transformer Oil (Chemical Stabilizer) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 26: Global: Transformer Oil (Chemical Stabilizer) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 27: Global: Transformer Oil (Small Transformers) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 28: Global: Transformer Oil (Small Transformers) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 29: Global: Transformer Oil (Large Transformers) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 30: Global: Transformer Oil (Large Transformers) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 31: Global: Transformer Oil (Utility) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 32: Global: Transformer Oil (Utility) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 33: Global: Transformer Oil (Other End-Uses) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 34: Global: Transformer Oil (Other End-Uses) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 35: Global: Transformer Oil (Residential) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 36: Global: Transformer Oil (Residential) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 37: Global: Transformer Oil (Commercial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 38: Global: Transformer Oil (Commercial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 39: Global: Transformer Oil (Industrial) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 40: Global: Transformer Oil (Industrial) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 41: North America: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 42: North America: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 43: United States: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 44: United States: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 45: Canada: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 46: Canada: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 47: Asia Pacific: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 48: Asia Pacific: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 49: China: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 50: China: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 51: Japan: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 52: Japan: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 53: India: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 54: India: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 55: South Korea: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 56: South Korea: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 57: Australia: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 58: Australia: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 59: Indonesia: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 60: Indonesia: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 61: Others: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 62: Others: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 63: Europe: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 64: Europe: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 65: Germany: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 66: Germany: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 67: France: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 68: France: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 69: United Kingdom: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 70: United Kingdom: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 71: Italy: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 72: Italy: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 73: Spain: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 74: Spain: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 75: Russia: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 76: Russia: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 77: Others: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 78: Others: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 79: Latin America: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 80: Latin America: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 81: Brazil: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 82: Brazil: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 83: Mexico: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 84: Mexico: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 85: Others: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 86: Others: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 87: Middle East and Africa: Transformer Oil Market: Sales Value (in Million US$), 2017 & 2022
- Figure 88: Middle East and Africa: Transformer Oil Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 89: Global: Transformer Oil Industry: SWOT Analysis
- Figure 90: Global: Transformer Oil Industry: Value Chain Analysis
- Figure 91: Global: Transformer Oil Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Transformer Oil Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Transformer Oil Market Forecast: Breakup by Type (in Million US$), 2023-2028
- Table 3: Global: Transformer Oil Market Forecast: Breakup by Function (in Million US$), 2023-2028
- Table 4: Global: Transformer Oil Market Forecast: Breakup by End-Use (in Million US$), 2023-2028
- Table 5: Global: Transformer Oil Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 6: Global: Transformer Oil Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 7: Global: Transformer Oil Market: Competitive Structure
- Table 8: Global: Transformer Oil Market: Key Players
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