Transformer Oil Market Foreseen to Draw a Promising Growth by 2027

Transformer oils are electrical insulating oils stable at high temperature, which serves two important functions in a transformer, viz., suppression of arcing and dissipation of heat generated in the transformer. The ability of transformer oil to fulfil these functions are chiefly responsible for its adoption, and thus drives the market growth. Resistance to oxidation is also one of the factors behind growth of the transformer oil market size. Other important factors stimulating transformer oil market share include electrification of rural areas, expansion of power grids and increasing investment in the power sector. However, factors such as volatility in crude oil prices and increasing adoption of dry transformers are expected to hamper the market growth. Transformer oil market sales to reach $3.4 billion by 2020, with the mineral oil-based transformer oil segment to maintain its dominance until 2020.

Distribution transformers segment dominates the global market, accounting for nearly half of the overall market, in terms of volume. The key factors responsible for this dominance is increase in energy usage coupled with increasing number of sub transmission lines to residential homes.

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Increasing consumption of electricity and development of new power plants are expected to provide stellar growth opportunities for the Russian market. The Middle Eastern market for transformer oil is projected to exhibit the highest CAGR during the analysis period, both in terms of volume and revenue. This is attributed to factors such as increase in power grids, heavy investment, and expansion of electricity network. This dominance can be attributed to growing power requirements due to rising urbanization along with a growing population, resulting in an increase in the transmission and distribution network across the world. A growing transmission and distribution network will result in an increase in the number of substations, which is expected to boost the demand for transformer oil due to the installation of transformers, reactors, and switchgears in these substations.

Bio-based oils are expected to emerge as the fastest-growing products with an approximate CAGR of 14% from 2017 to 2025. Stringent environmental regulations regarding energy consumption & emissions, coupled with high investments in the renewable energy sector are expected to positively influence the growth.

This transformer oil market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market.

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Asia-Pacific is expected to maintain its dominance through 2020, due to increasing demand for electricity in densely populated countries such as India and China, expansion of grid infrastructure and increasing investments in the power sector. China dominates the Asia-Pacific followed by India owing to the high demand for transformer oil in power transmission infrastructure. Russia and Germany are the largest consumers of transformer oil in the European market.

The transformer oil market analysis covers in depth information of major industry participants. The major companies profiled in the report include Nynas AB, Ergon, Inc., PetroChina Company Limited, Apar Industries Limited, Calumet Specialty Products Partners, L.P., Sinopec Corporation, Hydrodec Group Plc, Cargill Incorporated, Engen Petroleum Limited, Valvoline, San Joaquin Refining Co., Inc., and Gandhar Oil Refinery India Limited.

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