The North America transformer oil market size was valued at USD 562.94 Million in 2024. The market is further projected to grow at a CAGR of 6.40% between 2025 and 2034, reaching a value of USD 1.04 billion by 2034.
Bio-based transformer oils are gaining popularity due to their eco-friendly nature and superior performance characteristics. These oils are produced from renewable resources such as vegetable oils, and they offer better biodegradability, higher flash points, and lower dielectric losses compared to conventional mineral oils. Cargill Inc. has developed a range of bio-based transformer oils under the brand name Bio-Tan. These oils are produced from renewable resources such as soybean oil and offer superior performance characteristics compared to conventional mineral oils.
As per North Americatransformer oil marketanalysis, silicone-based transformer oils are gaining popularity due to their high dielectric strength, excellent thermal stability, and low volatility. These oils are ideal for high-temperature applications and offer better performance compared to conventional mineral oils. Shell Plc. has developed a range of silicone-based transformer oils under the brand name Shell Diala Sil. These oils offer high dielectric strength, excellent thermal stability, and low volatility.
The power transmission and distribution infrastructure in North America is aging, and there is a need for modernisation and upgradation of the existing infrastructure. This is expected to drive the North America transformer oil market growth. China Petroleum & Chemical Corporation has announced plans to build a new transformer oil production facility in North America to meet the growing demand for transformer oils.
The demand for high-voltage transformers is increasing due to the growing demand for electricity and the need for efficient power transmission and distribution. This is expected to drive the demand for high-performance transformer oils in the region. Engen Petroleum Ltd. has developed a range of high-performance transformer oils under the brand name Engen Transformer Oil. These oils are designed for high-voltage applications and offer superior performance characteristics compared to conventional mineral oils.
Bio-based transformer oils are gaining popularity due to their eco-friendly nature and superior performance characteristics. These oils are produced from renewable resources such as vegetable oils, and they offer better biodegradability, higher flash points, and lower dielectric losses compared to conventional mineral oils. Cargill Inc. has developed a range of bio-based transformer oils under the brand name Bio-Tan. These oils are produced from renewable resources such as soybean oil and offer superior performance characteristics compared to conventional mineral oils.
As per North Americatransformer oil marketanalysis, silicone-based transformer oils are gaining popularity due to their high dielectric strength, excellent thermal stability, and low volatility. These oils are ideal for high-temperature applications and offer better performance compared to conventional mineral oils. Shell Plc. has developed a range of silicone-based transformer oils under the brand name Shell Diala Sil. These oils offer high dielectric strength, excellent thermal stability, and low volatility.
The power transmission and distribution infrastructure in North America is aging, and there is a need for modernisation and upgradation of the existing infrastructure. This is expected to drive the North America transformer oil market growth. China Petroleum & Chemical Corporation has announced plans to build a new transformer oil production facility in North America to meet the growing demand for transformer oils.
The demand for high-voltage transformers is increasing due to the growing demand for electricity and the need for efficient power transmission and distribution. This is expected to drive the demand for high-performance transformer oils in the region. Engen Petroleum Ltd. has developed a range of high-performance transformer oils under the brand name Engen Transformer Oil. These oils are designed for high-voltage applications and offer superior performance characteristics compared to conventional mineral oils.
Market Segmentation
North America Transformer Oil Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segmentsMarket Breakup by Type
- Mineral Oil
- Paraffinic
- Naphthenic
- Silicone-Based Oil
- Bio-Based Oil
Market Breakup by Application
- Transformer
- Switchgear
- Circuit Breaker
- Others
Market Breakup by End Use
- Power Generation
- Transmission
- Railways and Metros
- Others
Market Breakup by Region
- United States of America
- Canada
Competitive Landscape
Market players are focusing on developing biodegradable transformer oils to align with environmental regulations and sustainability goals.- Exxon Mobil Corporation
- Petro-Canada Lubricants LLC
- Shell Plc
- Chevron Corp.
- Castrol Limited
- Philips 66 Company
- Calumet Specialty Products Partners, L.P.
- San Joaquin Refining Co. Inc.
- Ergon, Inc.
- Cross Oil Refining & Marketing, Inc.
- Sunoco Lubricants
- Others
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Transformer Oil Market Overview
6 North America Transformer Oil Market Overview
7 North America Transformer Oil Market by Type
8 North America Transformer Oil Market by Application
9 North America Transformer Oil Market by End Use
10 North America Transformer Oil Market by Country
11 Market Dynamics
13 Competitive Landscape
Companies Mentioned
- Exxon Mobil Corporation
- Petro?Canada Lubricants LLC
- Shell Plc
- Chevron Corp.
- Castrol Limited
- Philips 66 Company
- Calumet Specialty Products Partners, L.P.
- San Joaquin Refining Co. Inc.
- Ergon, Inc.
- Cross Oil Refining & Marketing, Inc.
- Sunoco Lubricants
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 125 |
| Published | May 2025 |
| Forecast Period | 2025 - 2034 |
| Estimated Market Value ( USD | $ 562.94 Million |
| Forecasted Market Value ( USD | $ 1046.84 Million |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | North America |
| No. of Companies Mentioned | 11 |
