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Transformer Oil Market by Type, Function, End-Use, and Application: Global Opportunity Analysis and Industry Forecast, 2021-2030

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    Report

  • 330 Pages
  • February 2022
  • Region: Global
  • Allied Market Research
  • ID: 5578193
The global transformer oil market size was valued at $2.3 billion in 2020, and is projected to reach $4.3 million by 2030, growing at a CAGR of 6.3% from 2021 to 2030.



Transformer oils are derived from the fractional distillation of crude oil. Transformer oil serves two important functions in a transformer, i.e., suppression of arcing and dissipation of heat generated inside the transformers. Transformer oil is stable at extremely high temperature and shows significant insulating properties. It is used in the functioning of insulation, corona discharge suppression, arcing, and for cooling purpose. It is further used in preserving transformer’s core and windings. Level of transformer oil is calculated by using magnetic oil level gauge.

Rise in demand for transformer oil from power generation, transmission, and distribution consumers across the globe is a key factor driving the global transformer oil market trend during the forecast period. In addition, rapid investment toward expansion and upgradation of grid network in developed economies significantly contribute toward the global transformer oil market growth. However, rise in demand for dry type transformers across the globe is expected to hamper the growth of the market, globally during the analyzed timeframe. Conversely, increase in adoption and awareness toward utilization of bio-based transformer oil are expected to create potential growth opportunity for key players operating in this market in the coming years.

The global transformer oil market analysis is segmented into type, function, end-use, application, and region. Depending on type, the market is categorized into naphthenic oil, paraffinic oil, silicone-based oil, bio-based oil, and others. On the basis of function, it is segregated into insulator, cooling agent, lubricant, and chemical stabilizer. Depending on end use, it is classified into small transformer, large transformer, utility transformers, distribution transformers, power transformers, and others. The applications covered in the study include residential, commercial, and industrial. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS FOR STAKEHOLDERS

  • The report includes in-depth analysis of different segments and provides market estimations between 2021 and 2030
  • A comprehensive analysis of the factors that drive and restrict the growth of the transformer oil market share is provided
  • The Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies
  • Estimations and forecast are based on factors impacting the global transformer oil market forecast , in terms of value
  • Key market players are profiled to gain an understanding of the strategies adopted by them
  • This report provides a detailed analysis of the current trends and future estimations from 2021 to 2030, which helps identify the prevailing market opportunities

KEY MARKET SEGMENTS


By Type

  • Naphthenic Oil
  • Paraffinic Oil
  • Silicone-based Oil
  • Bio-based Oil
  • Others

By Function

  • Insulator
  • Cooling Agent
  • Lubricant
  • Chemical Stabilizer

By End Use

  • Small Transformers
  • Large Transformers
  • Utility Transformers
  • Distribution Transformers
  • Power Transformers
  • Others

By Application

  • Residential
  • Commercial
  • Industrial

By Region

  • North America
  • US
  • Canada
  • Mexico
  • Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe
  • Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
  • LAMEA
  • Brazil
  • Saudi Arabia
  • South Africa
  • Rest of LAMEA

KEY MARKET PLAYERS

  • Neste
  • Petronas
  • Sinopec Lubricant Company
  • Royal Dutch Shell
  • Exxon Mobil Corporation
  • Total SE
  • Chevron Corporation
  • Exxon Mobil
  • Repsol
  • Gulf Oil International
Other companies operating in the transformer oil market industry are Lubrita, Phillips 66 Company, Dow, Cargill Incorporated, Hydrodec Group Plc., Calumet Specialty Products Partners, L.P., Sasol, Hyrax Oil Sdn Bhd., and San Joaquin Refining Co.

Table of Contents

Chapter 1: Introduction
1.1. Report Description
1.2. Key Market Segments
1.3. Key Benefits for Stakeholders
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools and Models
Chapter 2: Executive Summary
2.1. Key Findings
2.2. Cxo Perspective
Chapter 3: Market Overview
3.1. Market Definition and Scope
3.2. Key Findings
3.2.1. Top Investment Pockets
3.3. Key Forces Shaping the Market
3.4. Market Dynamics
3.4.1. Drivers
3.4.1.1. Rising Power Consumption
3.4.1.2. Increasing Investment in Power Sector
3.4.1.3. Expansion of Power Grids in Developing Countries
3.4.1.4. Rising Production of Transformers
3.4.2. Restraint
3.4.2.1. Increasing Demand for Oil Free Transformer
3.4.2.2. Volatile Raw Material Prices
3.4.3. Opportunities
3.4.3.1. Increasing Adoption of Bio-Based Transformer Oil
3.4.3.2. Corrosion Free Transformer Oil
3.5. Value Chain Analysis
3.6. Impact of Key Regulations on the Global Transformer Oil Market
3.7. Impact of Corona (Covid-19) Outbreak on the Market
Chapter 4: Global Transformer Oil, by Type
4.1. Overview
4.1.1. Market Size and Forecast, by Type
4.2. Naphthenic Oil
4.2.1. Key Market Trends, Growth Factors, and Opportunities
4.2.2. Market Size and Forecast, 2020-2030
4.3. Paraffinic Oil
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast, 2020-2030
4.4. Silicone-Based Oil
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast, 2020-2030
4.5. Bio-Based Oil
4.5.1. Key Market Trends, Growth Factors, and Opportunities
4.5.2. Market Size and Forecast, 2020-2030
4.6. Others
4.6.1. Key Market Trends, Growth Factors, and Opportunities
4.6.2. Market Size and Forecast, 2020-2030
Chapter 5: Global Transformer Oil, by Function
5.1. Overview
5.1.1. Market Size and Forecast, by Function
5.2. Insulator
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast, 2020-2030
5.3. Cooling Agent
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast, 2020-2030
5.4. Lubricant
5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size and Forecast, 2020-2030
5.5. Chemical Stabilizer
5.5.1. Key Market Trends, Growth Factors, and Opportunities
5.5.2. Market Size and Forecast, 2020-2030
Chapter 6: Global Transformer Oil, by Application
6.1. Overview
6.1.1. Market Size and Forecast, by Application
6.2. Residential
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast, 2020-2030
6.3. Commercial
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast, 2020-2030
6.4. Industrial
6.4.1. Key Market Trends, Growth Factors, and Opportunities
6.4.2. Market Size and Forecast, 2020-2030
Chapter 7: Global Transformer Oil Market, by End-Use
7.1. Overview
7.1.1. Market Size and Forecast, by End-Use
7.2. Small Transformer
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast, 2020-2030
7.3. Large Transformer
7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Market Size and Forecast, 2020-2030
7.4. Utility Transformers
7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Market Size and Forecast, 2020-2030
7.5. Distribution Transformers
7.5.1. Key Market Trends, Growth Factors, and Opportunities
7.5.2. Market Size and Forecast, 2020-2030
7.6. Power Transformers
7.6.1. Key Market Trends, Growth Factors, and Opportunities
7.6.2. Market Size and Forecast, 2020-2030
7.7. Others
7.7.1. Key Market Trends, Growth Factors, and Opportunities
7.7.2. Market Size and Forecast, 2020-2030
Chapter 8: Global Transformer Oil Market, by Region
8.1. Overview
8.1.1. Market Size and Forecast, by Region
8.2. North America
8.2.1. Key Market Trends, Growth Factors, and Opportunities
8.2.2. Market Size and Forecast, by Type
8.2.3. Market Size and Forecast, by Function
8.2.4. Market Size and Forecast, by Application
8.2.5. Market Size and Forecast, by End-Use
8.2.6. Market Size and Forecast, by Country
8.2.6.1. U. S.
8.2.6.1.1. Market Size and Forecast, by Type
8.2.6.1.2. Market Size and Forecast, by Function
8.2.6.1.3. Market Size and Forecast, by Application
8.2.6.1.4. Market Size and Forecast, by End-Use
8.2.6.2. Canada
8.2.6.2.1. Market Size and Forecast, by Type
8.2.6.2.2. Market Size and Forecast, by Function
8.2.6.2.3. Market Size and Forecast, by Application
8.2.6.2.4. Market Size and Forecast, by End-Use
8.2.6.3. Mexico
8.2.6.3.1. Market Size and Forecast, by Type
8.2.6.3.2. Market Size and Forecast, by Function
8.2.6.3.3. Market Size and Forecast, by Application
8.2.6.3.4. Market Size and Forecast, by End-Use
8.3. Europe
8.3.1. Key Market Trends, Growth Factors, and Opportunities
8.3.2. Market Size and Forecast, by Type
8.3.3. Market Size and Forecast, by Function
8.3.4. Market Size and Forecast, by Application
8.3.5. Market Size and Forecast, by End-Use
8.3.6. Market Size and Forecast, by Country
8.3.6.1. France
8.3.6.1.1. Market Size and Forecast, by Type
8.3.6.1.2. Market Size and Forecast, by Function
8.3.6.1.3. Market Size and Forecast, by Application
8.3.6.1.4. Market Size and Forecast, by End-Use
8.3.6.2. Germany
8.3.6.2.1. Market Size and Forecast, by Type
8.3.6.2.2. Market Size and Forecast, by Function
8.3.6.2.3. Market Size and Forecast, by Application
8.3.6.2.4. Market Size and Forecast, by End-Use
8.3.6.3. Italy
8.3.6.3.1. Market Size and Forecast, by Type
8.3.6.3.2. Market Size and Forecast, by Function
8.3.6.3.3. Market Size and Forecast, by Application
8.3.6.3.4. Market Size and Forecast, by End-Use
8.3.6.4. Spain
8.3.6.4.1. Market Size and Forecast, by Type
8.3.6.4.2. Market Size and Forecast, by Function
8.3.6.4.3. Market Size and Forecast, by Application
8.3.6.4.4. Market Size and Forecast, by End-Use
8.3.6.5. Uk
8.3.6.5.1. Market Size and Forecast, by Type
8.3.6.5.2. Market Size and Forecast, by Function
8.3.6.5.3. Market Size and Forecast, by Application
8.3.6.5.4. Market Size and Forecast, by End-Use
8.3.6.6. Rest of Europe
8.3.6.6.1. Market Size and Forecast, by Type
8.3.6.6.2. Market Size and Forecast, by Function
8.3.6.6.3. Market Size and Forecast, by Application
8.3.6.6.4. Market Size and Forecast, by End-Use
8.4. Asia-Pacific
8.4.1. Key Market Trends, Growth Factors, and Opportunities
8.4.2. Market Size and Forecast, by Type
8.4.3. Market Size and Forecast, by Function
8.4.4. Market Size and Forecast, by Application
8.4.5. Market Size and Forecast, by End-Use
8.4.6. Market Size and Forecast, by Country
8.4.6.1. China
8.4.6.1.1. Market Size and Forecast, by Type
8.4.6.1.2. Market Size and Forecast, by Function
8.4.6.1.3. Market Size and Forecast, by Application
8.4.6.1.4. Market Size and Forecast, by End-Use
8.4.6.2. Japan
8.4.6.2.1. Market Size and Forecast, by Type
8.4.6.2.2. Market Size and Forecast, by Function
8.4.6.2.3. Market Size and Forecast, by Application
8.4.6.2.4. Market Size and Forecast, by End-Use
8.4.6.3. India
8.4.6.3.1. Market Size and Forecast, by Type
8.4.6.3.2. Market Size and Forecast, by Function
8.4.6.3.3. Market Size and Forecast, by Application
8.4.6.3.4. Market Size and Forecast, by End-Use
8.4.6.4. South Korea
8.4.6.4.1. Market Size and Forecast, by Type
8.4.6.4.2. Market Size and Forecast, by Function
8.4.6.4.3. Market Size and Forecast, by Application
8.4.6.4.4. Market Size and Forecast, by End-Use
8.4.6.5. Australia
8.4.6.5.1. Market Size and Forecast, by Type
8.4.6.5.2. Market Size and Forecast, by Function
8.4.6.5.3. Market Size and Forecast, by Application
8.4.6.5.4. Market Size and Forecast, by End-Use
8.4.6.6. Rest of Asia-Pacific
8.4.6.6.1. Market Size and Forecast, by Type
8.4.6.6.2. Market Size and Forecast, by Function
8.4.6.6.3. Market Size and Forecast, by Application
8.4.6.6.4. Market Size and Forecast, by End-Use
8.5. Lamea
8.5.1. Key Market Trends, Growth Factors, and Opportunities
8.5.2. Market Size and Forecast, by Type
8.5.3. Market Size and Forecast, by Function
8.5.4. Market Size and Forecast, by Application
8.5.5. Market Size and Forecast, by End-Use
8.5.6. Market Size and Forecast, by Country
8.5.6.1. Brazil
8.5.6.1.1. Market Size and Forecast, by Type
8.5.6.1.2. Market Size and Forecast, by Function
8.5.6.1.3. Market Size and Forecast, by Application
8.5.6.1.4. Market Size and Forecast, by End-Use
8.5.6.2. South Africa
8.5.6.2.1. Market Size and Forecast, by Type
8.5.6.2.2. Market Size and Forecast, by Function
8.5.6.2.3. Market Size and Forecast, by Application
8.5.6.2.4. Market Size and Forecast, by End-Use
8.5.6.3. Saudi Arabia
8.5.6.3.1. Market Size and Forecast, by Type
8.5.6.3.2. Market Size and Forecast, by Function
8.5.6.3.3. Market Size and Forecast, by Application
8.5.6.3.4. Market Size and Forecast, by End-Use
8.5.6.4. Rest of LAMEA
8.5.6.4.1. Market Size and Forecast, by Type
8.5.6.4.2. Market Size and Forecast, by Function
8.5.6.4.3. Market Size and Forecast, by Application
8.5.6.4.4. Market Size and Forecast, by End-Use
Chapter 9: Competitive Landscape
9.1. Introduction
9.1.1. Market Player Positioning, 2019
9.2. Top Winning Strategies
9.2.1. Top Winning Strategies, by Year
9.2.2. Top Winning Strategies, by Development
9.2.3. Top Winning Strategies, by Company
9.3. Product Mapping of Top 10 Player
9.4. Competitive Heatmap
9.5. Key Developments
9.5.1. New Product Launches
9.5.2. Agreement
9.5.3. Partnerships
9.5.4. Acquisition
9.5.5. Business Expansions
Chapter 10: Company Profiles
10.1. Chevron Corporation
10.1.1. Company Overview
10.1.2. Company Snapshot
10.1.1. Key Executives
10.1.2. Operating Business Segments
10.1.3. Product Portfolio
10.1.4. Business Performance
10.2. Exxon Mobil Corporation
10.2.1. Company Overview
10.2.2. Company Snapshot
10.2.3. Key Executives
10.2.4. Operating Business Segments
10.2.5. Product Portfolio
10.2.6. Business Performance
10.3. Gulf Oil Lubricants India Limited
10.3.1. Company Overview
10.3.2. Company Snapshot
10.3.3. Key Executives
10.3.4. Product Portfolio
10.3.5. Business Performance
10.4. Neste
10.4.1. Company Overview
10.4.2. Company Snapshot
10.4.3. Key Executives
10.4.4. Operating Business Segments
10.4.5. Product Portfolio
10.4.6. Business Performance
10.4.7. Key Strategic Moves and Developments
10.5. Petroliam Nasional Berhad (Petronas)
10.5.1. Company Overview
10.5.2. Company Snapshot
10.5.3. Key Executives
10.5.4. Operating Business Segments
10.5.5. Product Portfolio
10.5.6. Business Performance
10.6. Repsol
10.6.1. Company Overview
10.6.2. Company Snapshot
10.6.3. Key Executives
10.6.4. Operating Business Segments
10.6.5. Product Portfolio
10.6.6. Business Performance
10.6.7. Key Strategic Moves and Developments
10.7. Royal Dutch Shell plc
10.7.1. Company Overview
10.7.2. Company Snapshot
10.7.3. Key Executives
10.7.4. Operating Business Segments
10.7.5. Product Portfolio
10.7.6. Business Performance
10.7.7. Key Strategic Moves and Developments
10.8. Sinopec Group
10.8.1. Company Overview
10.8.2. Company Snapshot
10.8.3. Key Executives
10.8.4. Operating Business Segments
10.8.5. Product Portfolio
10.8.6. Business Performance
10.9. Total Se
10.9.1. Company Overview
10.9.2. Company Snapshot
10.9.3. Key Executives
10.9.4. Operating Business Segments
10.9.5. Product Portfolio
10.9.6. Business Performance
10.10. Valvoline Inc.
10.10.1. Company Overview
10.10.2. Company Snapshot
10.10.3. Key Executives
10.10.4. Operating Business Segments
10.10.5. Product Portfolio
10.10.6. Business Performance
List of Tables
Table 01. Global Transformer Oil, by Type, 2020–2030 ($Million)
Table 02. Global Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 03. Global Transformer Oil, by Function 2020–2030 ($Million)
Table 04. Global Transformer Oil, by Function 2020–2030 (Million Liter)
Table 05. Global Transformer Oil, by Application 2020–2030 ($Million)
Table 06. Global Transformer Oil, by Application 2020–2030 (Million Liter)
Table 07. Global Transformer Oil, by End-Use 2020–2030 ($Million)
Table 08. Global Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 09. North America Transformer Oil Market, by Region 2020–2030 ($Million)
Table 10. North America Transformer Oil Market, by Region 2020–2030 (Million Liter)
Table 11. North America Transformer Oil, by Type, 2020–2030 ($Million)
Table 12. North America Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 13. North America Transformer Oil, by Function 2020–2030 ($Million)
Table 14. North America Transformer Oil, by Function 2020–2030 (Million Liter)
Table 15. North America Transformer Oil, by Application 2020–2030 ($Million)
Table 16. North America Transformer Oil, by Application 2020–2030 (Million Liter)
Table 17. North America Transformer Oil, by End-Use 2020–2030 ($Million)
Table 18. North America Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 19. North America Transformer Oil Market, by Country 2020–2030 ($Million)
Table 20. North America Transformer Oil Market, by Country 2020–2030 (Million Liter)
Table 21. U.S Transformer Oil, by Type, 2020–2030 ($Million)
Table 22. U.S Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 23. U.S Transformer Oil, by Function 2020–2030 ($Million)
Table 24. U.S Transformer Oil, by Function 2020–2030 (Million Liter)
Table 25. U.S Transformer Oil, by Application 2020–2030 ($Million)
Table 26. U.S Transformer Oil, by Application 2020–2030 (Million Liter)
Table 27. U.S Transformer Oil, by End-Use 2020–2030 ($Million)
Table 28. U.S Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 29. Canada Transformer Oil, by Type, 2020–2030 ($Million)
Table 30. Canada Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 31. Canada Transformer Oil, by Function 2020–2030 ($Million)
Table 32. Canada Transformer Oil, by Function 2020–2030 (Million Liter)
Table 33. Canada Transformer Oil, by Application 2020–2030 ($Million)
Table 34. Canada Transformer Oil, by Application 2020–2030 (Million Liter)
Table 35. Canada Transformer Oil, by End-Use 2020–2030 ($Million)
Table 36. Canada Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 37. Mexico Transformer Oil, by Type, 2020–2030 ($Million)
Table 38. Mexico Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 39. Mexico Transformer Oil, by Function 2020–2030 ($Million)
Table 40. Mexico Transformer Oil, by Function 2020–2030 (Million Liter)
Table 41. Mexico Transformer Oil, by Application 2020–2030 ($Million)
Table 42. Mexico Transformer Oil, by Application 2020–2030 (Million Liter)
Table 43. Mexico Transformer Oil, by End-Use 2020–2030 ($Million)
Table 44. Mexico Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 45. Europe Transformer Oil, by Type, 2020–2030 ($Million)
Table 46. Europe Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 47. Europe Transformer Oil, by Function 2020–2030 ($Million)
Table 48. Europe Transformer Oil, by Function 2020–2030 (Million Liter)
Table 49. Europe Transformer Oil, by Application 2020–2030 ($Million)
Table 50. Europe Transformer Oil, by Application 2020–2030 (Million Liter)
Table 51. Europe Transformer Oil, by End-Use 2020–2030 ($Million)
Table 52. Europe Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 53. Europe Transformer Oil Market, by Country 2020–2030 ($Million)
Table 54. Europe Transformer Oil Market, by Country 2020–2030 (Million Liter)
Table 55. France Transformer Oil, by Type, 2020–2030 ($Million)
Table 56. France Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 57. France Transformer Oil, by Function 2020–2030 ($Million)
Table 58. France Transformer Oil, by Function 2020–2030 (Million Liter)
Table 59. France Transformer Oil, by Application 2020–2030 ($Million)
Table 60. France Transformer Oil, by Application 2020–2030 (Million Liter)
Table 61. France Transformer Oil, by End-Use 2020–2030 ($Million)
Table 62. France Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 63. Germany Transformer Oil, by Type, 2020–2030 ($Million)
Table 64. Germany Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 65. Germany Transformer Oil, by Function 2020–2030 ($Million)
Table 66. Germany Transformer Oil, by Function 2020–2030 (Million Liter)
Table 67. Germany Transformer Oil, by Application 2020–2030 ($Million)
Table 68. Germany Transformer Oil, by Application 2020–2030 (Million Liter)
Table 69. Germany Transformer Oil, by End-Use 2020–2030 ($Million)
Table 70. Germany Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 71. Italy Transformer Oil, by Type, 2020–2030 ($Million)
Table 72. Italy Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 73. Italy Transformer Oil, by Function 2020–2030 ($Million)
Table 74. Italy Transformer Oil, by Function 2020–2030 (Million Liter)
Table 75. Italy Transformer Oil, by Application 2020–2030 ($Million)
Table 76. Italy Transformer Oil, by Application 2020–2030 (Million Liter)
Table 77. Italy Transformer Oil, by End-Use 2020–2030 ($Million)
Table 78. Italy Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 79. Spain Transformer Oil, by Type, 2020–2030 ($Million)
Table 80. Spain Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 81. Spain Transformer Oil, by Function 2020–2030 ($Million)
Table 82. Spain Transformer Oil, by Function 2020–2030 (Million Liter)
Table 83. Spain Transformer Oil, by Application 2020–2030 ($Million)
Table 84. Spain Transformer Oil, by Application 2020–2030 (Million Liter)
Table 85. Spain Transformer Oil, by End-Use 2020–2030 ($Million)
Table 86. Spain Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 87. Uk Transformer Oil, by Type, 2020–2030 ($Million)
Table 88. Uk Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 89. Uk Transformer Oil, by Function 2020–2030 ($Million)
Table 90. Uk Transformer Oil, by Function 2020–2030 (Million Liter)
Table 91. Uk Transformer Oil, by Application 2020–2030 ($Million)
Table 92. Uk Transformer Oil, by Application 2020–2030 (Million Liter)
Table 93. Uk Transformer Oil, by End-Use 2020–2030 ($Million)
Table 94. Uk Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 95. Rest of Europe Transformer Oil, by Type, 2020–2030 ($Million)
Table 96. Rest of Europe Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 97. Rest of Europe Transformer Oil, by Function 2020–2030 ($Million)
Table 98. Rest of Europe Transformer Oil, by Function 2020–2030 (Million Liter)
Table 99. Rest of Europe Transformer Oil, by Application 2020–2030 ($Million)
Table 100. Rest of Europe Transformer Oil, by Application 2020–2030 (Million Liter)
Table 101. Rest of Europe Transformer Oil, by End-Use 2020–2030 ($Million)
Table 102. Rest of Europe Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 103. Asia-Pacific Transformer Oil, by Type, 2020–2030 ($Million)
Table 104. Asia-Pacific Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 105. Asia-Pacific Transformer Oil, by Function 2020–2030 ($Million)
Table 106. Asia-Pacific Transformer Oil, by Function 2020–2030 (Million Liter)
Table 107. Asia-Pacific Transformer Oil, by Application 2020–2030 ($Million)
Table 108. Asia-Pacific Transformer Oil, by Application 2020–2030 (Million Liter)
Table 109. Asia-Pacific Transformer Oil, by End-Use 2020–2030 ($Million)
Table 110. Asia-Pacific Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 111. Asia-Pacific Transformer Oil Market, by Country 2020–2030 ($Million)
Table 112. Asia-Pacific Transformer Oil Market, by Country 2020–2030 (Million Liter)
Table 113. China Transformer Oil, by Type, 2020–2030 ($Million)
Table 114. China Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 115. China Transformer Oil, by Function 2020–2030 ($Million)
Table 116. China Transformer Oil, by Function 2020–2030 (Million Liter)
Table 117. China Transformer Oil, by Application 2020–2030 ($Million)
Table 118. China Transformer Oil, by Application 2020–2030 (Million Liter)
Table 119. China Transformer Oil, by End-Use 2020–2030 ($Million)
Table 120. China Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 121. Japan Transformer Oil, by Type, 2020–2030 ($Million)
Table 122. Japan Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 123. Japan Transformer Oil, by Function 2020–2030 ($Million)
Table 124. Japan Transformer Oil, by Function 2020–2030 (Million Liter)
Table 125. Japan Transformer Oil, by Application 2020–2030 ($Million)
Table 126. Japan Transformer Oil, by Application 2020–2030 (Million Liter)
Table 127. Japan Transformer Oil, by End-Use 2020–2030 ($Million)
Table 128. Japan Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 129. Indian Transformer Oil, by Type, 2020–2030 ($Million)
Table 130. Indian Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 131. Indian Transformer Oil, by Function 2020–2030 ($Million)
Table 132. Indian Transformer Oil, by Function 2020–2030 (Million Liter)
Table 133. Indian Transformer Oil, by Application 2020–2030 ($Million)
Table 134. Indian Transformer Oil, by Application 2020–2030 (Million Liter)
Table 135. Indian Transformer Oil, by End-Use 2020–2030 ($Million)
Table 136. Indian Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 137. South Korea Transformer Oil, by Type, 2020–2030 ($Million)
Table 138. South Korea Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 139. South Korea Transformer Oil, by Function 2020–2030 ($Million)
Table 140. South Korea Transformer Oil, by Function 2020–2030 (Million Liter)
Table 141. South Korea Transformer Oil, by Application 2020–2030 ($Million)
Table 142. South Korea Transformer Oil, by Application 2020–2030 (Million Liter)
Table 143. South Korea Transformer Oil, by End-Use 2020–2030 ($Million)
Table 144. South Korea Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 145. Australia Transformer Oil, by Type, 2020–2030 ($Million)
Table 146. Australia Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 147. Australia Transformer Oil, by Function 2020–2030 ($Million)
Table 148. Australia Transformer Oil, by Function 2020–2030 (Million Liter)
Table 149. Australia Transformer Oil, by Application 2020–2030 ($Million)
Table 150. Australia Transformer Oil, by Application 2020–2030 (Million Liter)
Table 151. Australia Transformer Oil, by End-Use 2020–2030 ($Million)
Table 152. Australia Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 153. Rest of Asia-Pacific Transformer Oil, by Type, 2020–2030 ($Million)
Table 154. Rest of Asia-Pacific Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 155. Rest of Asia-Pacific Transformer Oil, by Function 2020–2030 ($Million)
Table 156. Rest of Asia-Pacific Transformer Oil, by Function 2020–2030 (Million Liter)
Table 157. Rest of Asia-Pacific Transformer Oil, by Application 2020–2030 ($Million)
Table 158. Rest of Asia-Pacific Transformer Oil, by Application 2020–2030 (Million Liter)
Table 159. Rest of Asia-Pacific Transformer Oil, by End-Use 2020–2030 ($Million)
Table 160. Rest of Asia-Pacific Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 161. Lamea Transformer Oil, by Type, 2020–2030 ($Million)
Table 162. Lamea Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 163. Lamea Transformer Oil, by Function 2020–2030 ($Million)
Table 164. Lamea Transformer Oil, by Function 2020–2030 (Million Liter)
Table 165. Lamea Transformer Oil, by Application 2020–2030 ($Million)
Table 166. Lamea Transformer Oil, by Application 2020–2030 (Million Liter)
Table 167. Lamea Transformer Oil, by End-Use 2020–2030 ($Million)
Table 168. Lamea Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 169. Lamea Transformer Oil Market, by Country 2020–2030 ($Million)
Table 170. Lamea Transformer Oil Market, by Country 2020–2030 (Million Liter)
Table 171. Brazil Transformer Oil, by Type, 2020–2030 ($Million)
Table 172. Brazil Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 173. Brazil Transformer Oil, by Function 2020–2030 ($Million)
Table 174. Brazil Transformer Oil, by Function 2020–2030 (Million Liter)
Table 175. Brazil Transformer Oil, by Application 2020–2030 ($Million)
Table 176. Brazil Transformer Oil, by Application 2020–2030 (Million Liter)
Table 177. Brazil Transformer Oil, by End-Use 2020–2030 ($Million)
Table 178. Brazil Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 179. South Africa Transformer Oil, by Type, 2020–2030 ($Million)
Table 180. South Africa Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 181. South Africa Transformer Oil, by Function 2020–2030 ($Million)
Table 182. South Africa Transformer Oil, by Function 2020–2030 (Million Liter)
Table 183. South Africa Transformer Oil, by Application 2020–2030 ($Million)
Table 184. South Africa Transformer Oil, by Application 2020–2030 (Million Liter)
Table 185. South Africa Transformer Oil, by End-Use 2020–2030 ($Million)
Table 186. South Africa Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 187. Saudi Arabia Transformer Oil, by Type, 2020–2030 ($Million)
Table 188. Saudi Arabia Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 189. Saudi Arabia Transformer Oil, by Function 2020–2030 ($Million)
Table 190. Saudi Arabia Transformer Oil, by Function 2020–2030 (Million Liter)
Table 191. Saudi Arabia Transformer Oil, by Application 2020–2030 ($Million)
Table 192. Saudi Arabia Transformer Oil, by Application 2020–2030 (Million Liter)
Table 193. Saudi Arabia Transformer Oil, by End-Use 2020–2030 ($Million)
Table 194. Saudi Arabia Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 195. Rest of LAMEA Transformer Oil, by Type, 2020–2030 ($Million)
Table 196. Rest of LAMEA Transformer Oil, by Type, 2020–2030 (Million Liter)
Table 197. Rest of LAMEA Transformer Oil, by Function 2020–2030 ($Million)
Table 198. Rest of LAMEA Transformer Oil, by Function 2020–2030 (Million Liter)
Table 199. Rest of LAMEA Transformer Oil, by Application 2020–2030 ($Million)
Table 200. Rest of LAMEA Transformer Oil, by Application 2020–2030 (Million Liter)
Table 201. Rest of LAMEA Transformer Oil, by End-Use 2020–2030 ($Million)
Table 202. Rest of LAMEA Transformer Oil, by End-Use 2020–2030 (Million Liter)
Table 203. Key New Product Launches (2016-2020)
Table 204. Key Agreement (2016-2020)
Table 205. Key Partnerships (2016-2020)
Table 206. Key Acquisition (2016-2020)
Table 207. Key Business Expansions (2016-2020)
Table 208. Chevron: Company Snapshot
Table 209. Chevron: Key Executives
Table 210. Chevron: Operating Segments
Table 211. Chevron: Product Portfolio
Table 212. Overall Financial Status ($Million)
Table 213. Exxon Mobil: Company Snapshot
Table 214. Exxon Mobil: Key Executives
Table 215. Exxon Mobil: Operating Segments
Table 216. Exxon Mobil: Product Portfolio
Table 217. Overall Financial Status ($Million)
Table 218. Gulf Oil Lubricants India Limited: Company Snapshot
Table 219. Gulf Oil Lubricants India Limited: Key Executives
Table 220. Gulf Oil Lubricants India Limited: Product Portfolio
Table 221. Overall Financial Status ($Million)
Table 222. Neste: Company Snapshot
Table 223. Neste: Key Executives
Table 224. Neste: Operating Segments
Table 225. Neste: Product Portfolio
Table 226. Overall Financial Status ($Million)
Table 227. Neste: Key Strategic Moves and Developments
Table 228. Petronas: Company Snapshot
Table 229. Petronas: Key Executives
Table 230. Petronas: Operating Segments
Table 231. Petronas: Product Portfolio
Table 232. Repsol: Company Snapshot
Table 233. Repsol: Key Executives
Table 234. Repsol: Operating Segments
Table 235. Repsol: Product Portfolio
Table 236. Overall Financial Status ($Million)
Table 237. Repsol: Key Strategic Moves and Developments
Table 238. Royal Dutch Shell plc: Company Snapshot
Table 239. Royal Dutch Shell plc: Key Executives
Table 240. Royal Dutch Shell plc: Operating Segments
Table 241. Royal Dutch Shell plc: Product Portfolio
Table 242. Overall Financial Status ($Million)
Table 243. Royal Dutch Shell plc: Key Strategic Moves and Developments
Table 244. Sinopec Group: Company Snapshot
Table 245. Sinopec Group: Key Executives
Table 246. Sinopec Group: Operating Segments
Table 247. Sinopec Group: Product Portfolio
Table 248. Overall Financial Status ($Million)
Table 249. Total Se: Company Snapshot
Table 250. Total Se: Key Executives
Table 251. Total Se: Operating Segments
Table 252. Total Se: Product Portfolio
Table 253. Overall Financial Status ($Million)
Table 254. Valvoline Inc. : Company Snapshot
Table 255. Valvoline Inc. : Key Executives
Table 256. Valvoline Inc. : Operating Segments
Table 257. Valvoline Inc. : Product Portfolio
Table 258. Overall Financial Status ($Million)
List of Figures
Figure 01. Global Transformer Oil Market Snapshot, by Segmentation, 2021–2030
Figure 02. Global Transformer Oil Market Snapshot, by Region, 2021–2030
Figure 03. Global Transformer Oil Market Segmentation
Figure 04. Top Investment Pockets
Figure 05. Moderate Barsgaining Power of Suppliers
Figure 06. Moderate Threat of New Entrants
Figure 07. Moderate Threat of Substitutes
Figure 08. Moderate Intensity of Competitive Rivalry
Figure 09. Moderate Barsgaining Power of Buyers
Figure 10. Global Transformer Oil Market Dynamics
Figure 11. Value Chain Analysis
Figure 12. Global Transformer Oil Revenue, by Type ($ Million)
Figure 13. Global Transformer Oil Volume, by Type (Million Liter)
Figure 14. Market Size and Forecast, 2020-2030 ($ Million)
Figure 15. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 16. Market Size and Forecast, 2020-2030 ($ Million)
Figure 17. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 18. Market Size and Forecast, 2020-2030 ($ Million)
Figure 19. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 20. Market Size and Forecast, 2020-2030 ($ Million)
Figure 21. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 22. Market Size and Forecast, 2020-2030 ($ Million)
Figure 23. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 24. Global Transformer Oil Revenue, by Function ($ Million)
Figure 25. Global Transformer Oil Volume, by Function (Million Liter)
Figure 26. Market Size and Forecast, 2020-2030 ($ Million)
Figure 27. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 28. Market Size and Forecast, 2020-2030 ($ Million)
Figure 29. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 30. Market Size and Forecast, 2020-2030 ($ Million)
Figure 31. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 32. Market Size and Forecast, 2020-2030 ($ Million)
Figure 33. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 34. Global Transformer Oil Revenue, by Application ($ Million)
Figure 35. Global Transformer Oil Volume, by Application (Million Liter)
Figure 36. Market Size and Forecast, 2020-2030 ($ Million)
Figure 37. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 38. Market Size and Forecast, 2020-2030 ($ Million)
Figure 39. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 40. Market Size and Forecast, 2020-2030 ($ Million)
Figure 41. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 42. Global Transformer Oil Market Revenue, by End-Use ($ Million)
Figure 43. Global Transformer Oil Market Volume, by End-Use (Million Liter)
Figure 44. Market Size and Forecast, 2020-2030 ($ Million)
Figure 45. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 46. Market Size and Forecast, 2020-2030 ($ Million)
Figure 47. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 48. Market Size and Forecast, 2020-2030 ($ Million)
Figure 49. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 50. Market Size and Forecast, 2020-2030 ($ Million)
Figure 51. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 52. Market Size and Forecast, 2020-2030 ($ Million)
Figure 53. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 54. Market Size and Forecast, 2020-2030 ($ Million)
Figure 55. Market Size and Forecast, 2020-2030 (Million Liter)
Figure 56. Global Transformer Oil Market Revenue, by Region ($ Million)
Figure 57. Global Transformer Oil Market Volume, by Region (Million Liter)
Figure 58. U. S. Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 59. U. S. Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 60. Canada Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 61. Canada Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 62. Mexico Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 63. Mexico Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 64. France Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 65. France Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 66. Germany Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 67. Germany Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 68. Italy Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 69. Italy Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 70. Spain Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 71. Spain Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 72. Uk Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 73. Uk Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 74. Rest of Europe Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 75. Rest of Europe Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 76. China Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 77. China Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 78. Japan Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 79. Japan Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 80. India Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 81. India Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 82. South Korea Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 83. South Korea Transformer Oil Market Revenue, 2020–2030, (Million Liter)
Figure 84. Australia Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 85. Australia Transformer Oil Market Revenue, 2020–2030, (Million Liter)
Figure 86. Rest of Asia-Pacific Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 87. Rest of Asia-Pacific Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 88. Brazil Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 89. Brazil Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 90. South Africa Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 91. South Africa Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 92. Saudi Arabia Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 93. Saudi Arabia Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 94. Rest of LAMEA Transformer Oil Market Revenue, 2020–2030, ($ Million)
Figure 95. Rest of LAMEA Transformer Oil Market Volume, 2020–2030, (Million Liter)
Figure 96. Market Player Positioning, 2019
Figure 97. Top Winning Strategies, by Year, 2016–2020
Figure 98. Top Winning Strategies, by Development, 2018–2021 (%)
Figure 99. Top Winning Strategies, by Company, 2018–2021
Figure 100. Product Mapping of Top 10 Players
Figure 101. Competitive Heatmap of Key Players
Figure 102. Chevron: Revenue, 2018–2020 ($ Million)
Figure 103. Chevron: Revenue Share by Segment, 2020 (%)
Figure 104. Chevron: Revenue Share by Region, 2020 (%)
Figure 105. Exxon Mobil: Revenue, 2018–2020 ($ Million)
Figure 106. Exxon Mobil: Revenue Share by Segment, 2020 (%)
Figure 107. Exxon Mobil: Revenue Share by Region, 2020 (%)
Figure 108. Gulf Oil Lubricants India Limited: Revenue, 2018–2020 ($ Million)
Figure 109. Gulf Oil Lubricants India Limited: Revenue Share by Operation, 2020 (%)
Figure 110. Gulf Oil Lubricants India Limited: Revenue Share by Region, 2020 (%)
Figure 111. Neste: Revenue, 2018–2020 ($ Million)
Figure 112. Neste: Revenue Share by Segment, 2020 (%)
Figure 113. Neste: Revenue Share by Region, 2020 (%)
Figure 114. Petronas: Revenue, 2018–2020 ($ Million)
Figure 115. Overall Financial Status ($ Million)
Figure 116. Petronas: Revenue Share by Segment, 2020 (%)
Figure 117. Petronas: Revenue Share by Region, 2020 (%)
Figure 118. Repsol: Revenue, 2018–2020 ($ Million)
Figure 119. Repsol: Revenue Share by Segment, 2020 (%)
Figure 120. Repsol: Revenue Share by Region, 2020 (%)
Figure 121. Royal Dutch Shell plc: Revenue, 2018–2020 ($ Million)
Figure 122. Royal Dutch Shell plc: Revenue Share by Segment, 2020 (%)
Figure 123. Royal Dutch Shell plc: Revenue Share by Region, 2020 (%)
Figure 124. Sinopec Group: Revenue, 2018–2020 ($ Million)
Figure 125. Sinopec Group: Revenue Share by Segment, 2020 (%)
Figure 126. Sinopec Group: Revenue Share by Region, 2020 (%)
Figure 127. Total Se: Net Sales, 2018–2020 ($ Million)
Figure 128. Total Se: Revenue Share by Segment, 2020 (%)
Figure 129. Total Se: Revenue Share by Region, 2020 (%)
Figure 130. Valvoline Inc: Net Sales, 2018–2020 ($ Million)
Figure 131. Valvoline Inc: Revenue Share by Segment, 2020 (%)
Figure 132. Valvoline Inc: Revenue Share by Region, 2020 (%)

Executive Summary

According to a new report titled, “Transformer Oil Market Forecast by Type, Function, End-Use, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the transformer oil market size was valued at $2.3 billion in 2020, and is projected to reach $4.3 Billion by 2030, growing at a CAGR of 6.3% from 2021 to 2030. Transformer oil, also known as insulating oil, is an oil used in oil-filled transformers, which exhibits electrical insulating property. It has other properties such as superior oxidation stability, superior thermal conductivity, and enhanced stability at high temperatures. It effectively prevents the formation of acidic materials and sludge as well as facilitates effective cooling of the transformer core. The electrical properties include dielectric strength, specific resistance, and dielectric dissipation.

Rise in power consumption, increase in investment in the power sector, and expansion of electrical grids in developing countries are the major factors driving the growth of the global transformer oil market. In addition, rapid industrialization and modernization in the electrical grids supplement the demand for power transformers, which, in turn, is expected to increase the consumption of transformer oil. However, increase in adoption of dry transformers and volatility in raw material prices impede the market growth. On the contrary, R&D toward development of sustainable and recyclable transformer oil products such as bio-based oil is projected to create opportunity for key players operating in the market.

Depending on the type, the Paraffinic Oil segment garnered the highest market share of in 2020, and is expected to maintain its dominance during the forecast period. This is attributed to rise in demand for transformer oil from electric utilities such as transmission system, power plants, and other industrial applications. In addition, benefits associated with mineral oil include high thermal, oxidation durability, cost-effectiveness, and easy availability, which are anticipated to fuel the growth of the transformer oil market in the coming years.

On the basis of function, the insulation segment acquired the largest share in 2020, in terms of revenue, and is expected to maintain its dominance during the forecast period. This is attributed to rise in demand for transformer oil to insulate high-voltage electrical infrastructures such as transformers, capacitors, switches, and circuit breakers applications in electric utilities. It is majorly used as insulation between windings and other parts of transformer, owing to its high dielectric strength, enough viscosity level, and temperature flexibility. This is further expected to fuel the growth of this segment in the upcoming years.

On the basis of end use, the power transformer segment held the largest share in 2020, in terms of revenue, and is expected to maintain its dominance during the forecast period. This growth is attributed to rapid expansion of heavy industries & projects such as dams, power plants, power grids, refineries, and mills, which further increases the installation of power transformers in these applications. In addition, rise in the upgradation and expansion of existing utility power grids across the globe act as the key driving force in the growth of the transformer oil market in the coming years.

On the basis of application, the industrial segment garnered the largest share in 2020, in terms of revenue, and is expected to grow at a CAGR of 6.1%, owing to rise in installation of standalone power generation systems in industrial applications attributable to varying loads and power demand in industrial applications. In addition, rapid growth of industries such as building & construction, chemicals, oil & gas, and railways resulted in rise in demand for transformers, which, in turn, is expected to drive the growth of the market during the forecast period.

Region wise, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant share in 2020, and anticipated to maintain this trend during the forecast period. This is attributed to numerous factors such as presence of huge consumer base, rapid expansion of the energy sector, high-voltage direct current (HVDC) systems, and the existence of key players in the region. Moreover, presence of the high-power consuming countries such as China, Japan, and India are anticipated to contribute toward the growth of the transformer oil market share in the region.

The global transformer oil market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the report include Neste, Petronas, Sinopec Lubricant Company, Royal Dutch Shell, Exxon Mobil Corporation, Total SE, Chevron Corporation, Exxon Mobil, Repsol, and Gulf Oil International.

Other players operating in the market are Lubrita, Phillips 66 Company, Dow, Cargill Incorporated, Hydrodec Group Plc., Calumet Specialty Products Partners, L.P., Sasol, Hyrax Oil Sdn Bhd., and San Joaquin Refining Co.

COVID-19 Impact on the Market


Lockdown imposed due to the outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries and electrical utilities, which decreased the demand for transformer oil from these consumers. In addition, halt in building & construction of new electric utility infrastructures, renewable power plants, grid network, and other power plants, owing to unavailability of workers and increase in demand–supply gap are projected to hamper the market growth during the pandemic period. This resulted in decline in market growth in the second, third, and fourth quarters of 2020. However, the transformer oil market trend is expected to recover by the second quarter of 2021, as COVID-19 vaccination has begun in various economies across the globe, which is expected to improve the global economy

Key Findings Of The Study


  • By region, Asia-Pacific accounted for the largest market share in 2020
  • By type, Naphthenic Oil segment holds the largest market share in 2020
  • By function, the insulation segment accounted for the largest market share in 2020
  • By end-use, the small transformer segment accounted for the largest market share in 2020
  • By Application, the horizontal segment accounted for the largest market share in 2020

Companies Mentioned

  • Lubrita
  • Phillips 66 Company
  • Dow
  • Cargill Incorporated
  • Hydrodec Group Plc.
  • Calumet Specialty Products Partners
  • L.P., Sasol
  • Hyrax Oil Sdn Bhd.
  • San Joaquin Refining Co.

Methodology

The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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