Transformer Oil Global Market Report 2023

“Transformer Oil Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on transformer oil market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
• Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
• Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
• Measure the impact of high global inflation on market growth.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on the latest market shares.
• Benchmark performance against key competitors.
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• Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for transformer oil ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The transformer oil market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

• 1) By Type: Naphthenic Oil; Paraffinic Oil; Silicone-based Oil; Bio-based Oil; Other Types

• 2) By Function: Insulator; Cooling Agent; Lubricant; Chemical Stabilizer

• 3) By Application: Residential; Commercial; Industrial

• 4) By End User: Transmission And Distribution; Railways And Metros; Power generation; Other End Users

• Companies Mentioned: Shell plc.; ExxonMobil Corporation; Repsol S.A.; Ergon Inc.; Nynas AB

• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

• Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

• Time series: Five years historic and ten years forecast.

• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

• Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

• Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Major players in the market are Shell plc., ExxonMobil Corporation, Repsol S.A., Ergon Inc., Nynas AB, Sinopec Lubricant Company, Cargill Incorporated, Savita Oil Technologies Limited, Chevron Corporation, M&I Materials Limited, Gandhar Oil Refinery India Ltd., Lubrita Europe B.V., Phillips 66 Company, Gulf Oil International, Petro-Canada Lubricants Inc., Hyrax Oil Sdn Bhd, Valvoline Cummins Private Limited, and Engen Petroleum Limited.

The global transformer oil market is expected to grow from $2.07 billion in 2022 to $2.22 billion in 2023 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The transformer oil market is expected to grow to $2.89 billion in 2027 at a CAGR of 6.8%.

The transformer oil market consists of sales of alkanes, cycloalkanes and aromatic hydrocarbons. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Transformer oil is a type of oil that is stable at high temperatures and has outstanding electrical insulating properties. It is produced by distilling refined crude oil at temperatures between +300 °C and +400 °C (752 °F). The quality of crude base stock oil varies depending on where it is sourced, which impacts the characteristics of the oil.

Asia-Pacific was the largest region in the transformer oil market in 2022. North America was the second-largest region in the transformer oil market. The regions covered in the transformer oil market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The major types of transformer oil are naphthenic oil, paraffinic oil, silicone-based oil, bio-based oil, and other types of oil. Naphthenic oil is a group V base oil generated by hydro-treating sweet crude distillates at pressures greater than 2500 psi. It has a low pour point, high solubility, little wax, and little aromatic content. It can function in a multiple ways, such as, insulator, cooling agent, lubricant, and chemical stabilizer. It is used in several applications, such as, residential, commercial, and industrial, used by transmission and distribution, railways and metros, power generation, and other end users.

The increasing number of power generation and distribution projects are expected to boost the growth of the transformer oil market. Power generation and distribution projects refer to facilities responsible for safe, secure, reliable, and sustainable electricity generation, transmission, and distribution. The increasing number of power generation and distribution projects leads to rising demand for transformers, switches, capacitors, and circuit breakers, increasing the demand for transformer oils. For instance, in November 2022, according to the Energy Information Administration (EIA), a US-based government agency responsible for collecting, analyzing, and disseminating energy information, 8 new natural gas-fired combined-cycle gas turbine (CCGT) power plants were launched in the US electricity market. The ability of these new plants to produce electricity will increase the US electric system by 7,775 megawatts (MW). Therefore, the increasing number of power generation and distribution projects are driving the growth of the transformer oil market.

Technological advancement is a key trend in the transformer oil market. Major companies operating in the transformer oil market are focused on developing innovative solutions to strengthen their position in the market. For instance, in September 2020, Vaisala Oyj, a Finland-based manufacturer of products and services for environmental and industrial measurement, introduced a ground-breaking technique for finding power transformer air leaks. Vaisala's Optimus DGA Monitor OPT100 is the first maintenance-free dissolved gas analyzer for power transformers in the world. The new method, based on determining the total pressure of all dissolved gases in the power transformer insulating oil, will enable customers to locate any air leaks early on. This can extend a transformer's lifespan and save a lot of money.

In November 2021, Slicker Recycling Ltd., a UK-based company and a specialist in the recycling and treating waste lubricating oils, acquired Hydrodec for an undisclosed amount. This acquisition helps Slicker expand its reach internationally and strengthens its credentials in the circular economy. Hydrodec is a US-based firm that collects and hydrotreats used transformer and naphthenic oils.

The countries covered in the transformer oil market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

The transformer oil market research report is one of a series of new reports from The Business Research Company that provides transformer oil market statistics, including transformer oil industry global market size, regional shares, competitors with a transformer oil market share, detailed transformer oil market segments, market trends and opportunities, and any further data you may need to thrive in the transformer oil industry. This transformer oil market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.