Scope of the Report
The report titled “Global Transformer Oil Market: Size, Trends and Forecasts (2019-2023)”, provides an in depth analysis of the global transformer oil market by value, by volume, by type, by application, by region, etc. The report also provides a regional analysis of the transformer oil market, including the following regions: Asia Pacific (China & Rest of Asia Pacific), North America (the US & Rest of North America), Europe (Germany & Rest of Europe) and ROW. The report also provides a detailed analysis of the US market by value and by type, and Germany market by value and by application.
The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall global transformer oil market has also been forecasted for the period 2019-2023, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.
The global transformer oil market is highly dominated with few market players operating worldwide. Some transformer oil market players operating on a local level while other players operating on a regional and global level. The producers of transformer oil produce different types of transformer oil for different applications. Further, key players of the transformer oil market are Nynas AB, Ergon, Inc., PetroChina Company Limited, Apar industries Ltd. are also profiled with their financial information and respective business strategies.
- Asia Pacific
- North America
- Nynas AB
- Ergon, Inc.
- PetroChina Company Limited
- Apar Industries Ltd.
Transformer oil, also known as insulating oil, is commonly used in transformers for its excellent electrical insulating properties and dielectric properties. The primary function of the transformer oil is to insulate and cool down the transformers. The transformer oil acts as a coolant agent to dissipate the heat of the transformers. Transformer oil is also used in high voltage switches, high voltage capacitors, and circuit breakers.
Transformer oil has an excellent properties that assist the transformers to reach their designed technical life. The transformer oil has high resistivity leading to better insulation between windings, high thermal stability facilitating a reduction in evaporation losses, excellent dielectric properties and ageing characteristics, stability at high temperatures and availability in a broad range of grades to meet every requirement.
For the proper maintenance of the transformer, it is also very important to check the quality and quantity of transformer oil. There are various tests available to evaluate the condition of the oil, which include routine tests, complimentary tests, and special investigative tests. The transformer oil market can be segmented on the basis of type (Mineral-based, Silicone-based and Bio-based) and application (Small Transformers, Large Transformers, Utility and Others).
The global transformer oil market has increased at a significant CAGR during the years 2015-2018 and projections are made that the market would rise in the next four years i.e. 2019-2023 tremendously. The transformer oil market is expected to increase due to the expansion of the transformer market, rising investment in the electrical transmission infrastructure, increasing demand for electricity, a growing number of smart grid distribution systems, surging energy demand, rising industrial activities, etc. Yet the market faces some challenges such as increasing adoption of dry-type transformers, high cost of transformer oil, wearing effects of sulfur in transformer oil, etc.