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The global transformer oil market was valued at USD 2.23 billion in 2022, increasing at a CAGR of 6.40% from 2022 to 2030 and is anticipated to reach USD 3.67 billion by 2030. North America is expected to grow the fastest during the forecast period.
The specific resistance is the crucial property of transformer oil. Its unit is ohm-cm at a particular temperature. It measures DC resistance between two contrasting sides of one cm3 block of oil. The water or moisture content in transformer oil is highly unpleasant as it adversely impacts the oil's dielectric properties. The water content in oil also influences the paper insulation of the winding & core of a transformer. The paper is highly hygroscopic. The flashpoint of transformer oil is the temperature at which oil provides enough vapors to produce an explosive mixture with air.
Transformer oil, also called insulating oil, is an oil that remains stable at high temperatures and has superior electrical insulation properties. The primary objective of using oil in a transformer is to provide electrical insulation between the various live parts. Transformer oil also serves as a protective coating layer to stop oxidation of the metal surfaces. Regarding economic costs and environmental considerations, palm kernel oil, Soya bean oil, and Coconut oil appear viable alternatives to transformer oils. They are readily available in Malaysia, India, Sri Lanka, etc. Transformer oil serves two crucial functions in a transformer that is suppression of arcing & dissipation of the heat generated inside the transformers. Transformer oil is also utilized to keep the transformer's core and windings by fully immersing them inside the oil. Another crucial property of the insulating oil is the prevention of oxidation of the cellulose-made paper insulation. The dielectric strength of transformer oil is also called the transformer oil's breakdown voltage (BDV). A low breakdown voltage value indicates the presence of moisture content & conducting substances in the oil. The mineral-based oil, like transformer oil, is frequently utilized in various transformers for its dielectric strength and electrical properties.
For example, in June 2022, Nynas' bio-based insulating liquid NYTRO BIO 300X promises to improve transformers' performance, assisting utilities in achieving sustainability targets. Due to its low kinematic viscosity, the fully recyclable NYTRO BIO 300X delivers enhanced convective heat transfer in power transformers.
For example, Petrol Ofisi and Chevron Lubricants, the marketer of lubricants in Turkey, signed an agreement in December 2020. As an outcome of this development, Petrol Ofisi will distribute and manufacture the products of Chevron Lubricants in Turkey under the Texaco brand. The portfolio contains Chevron Lubricants’ industrial & automotive lubricants.
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Drivers:
The high usage of transformer oil in the power generation sector: The increasing investment in sustainable energy sources across the globe is the driving factor of the market growth. Further, the cross-border electricity trade is increasing in Asia as the countries like Bangladesh, India, Bhutan, Nepal, Shri Lanka, Thailand, Singapore, and Malaysia have established an electrical grid that helps in electricity trade. In addition, the increase in wind power projects is predicted to increase the demand for transformer oil for the production of turbine & transformer’s coolant and lubricant, needed for the efficient functioning of wind turbines utilized in such power generation plants. Further, the expansion in demand for Transmission and Demand (T&D) infrastructure owing to the incorporation of the plants generating renewable energy in the developed countries is assisting in propelling the market growth.
Restraints:
A fluctuation in crude oil prices: The rise in adoption of alternate transformer technologies and a fluctuation in crude oil prices are also hampering the market growth. Moreover, the strict guidelines to lessen the adverse impacts of minerals and crude oil price volatility also inhibit the market growth. In addition, a dry-type transformer is a stationary solid-state device that requires minimal maintenance to function correctly. Also, these transformers provide a safe and stable power supply that does not need fire-resistant vaults, toxic gas emissions or catch basins. These safety features will allow these transformers to be utilized in various applications where fire safety is required, like buildings, factories, schools, hospitals, and chemical plants. This transformer does not employ a liquid-like silicone or oil to cool the coils and core. Hence, the demand for dry transformers is anticipated to grow significantly due to the low price of production and maintenance. Thus, the requirement for oiled transformers is predicted to decrease, likely negatively affecting the transformer oil market.
Opportunities:
The expansion of electric grid in emerging economies: The expanding distribution & transmission of energy around the globe is propelling the market growth. The electric grid is more than just transmission and generation infrastructure. It is an ecosystem of asset owners, service providers, manufacturers, and government officials at local, Federal, and state levels, all operating together to run one of the most trustworthy electrical grids globally. A vital component of grid modernization is strategic research, coordinated development, and demonstration effort that includes private & public sectors. Further, electricity consumption is increasing due to the growing urbanization and industrialization, particularly in emerging countries with high population density, such as China and India. In addition, the raised investments in power grid development in industrialized regions such as Europe and North America are also helping to boost the market growth. Also, agriculture, pharmaceutical, automotive, and oil & gas industries are major demand generators in emerging economies. Hence, the electrical grid is expanding in emerging economies to cater to the growing electricity demand due to industrial development.
The regions analyzed for the market include Europe, South America, Asia Pacific, North America, the Middle East, and Africa. The Asia Pacific emerged as the largest market for the global transformer oil market, with a 46.35% share of the market revenue in 2022. The Asia Pacific dominates the transformer oil market due to the increasing need to transform and upgrade existing electricity distribution infrastructure in developing countries like Indonesia, India, Vietnam, and Thailand. Further, the rising government initiatives within the nations focused on growing the power infrastructure to meet the increasing energy demand by the population are boosting to help the market growth in this region. In addition, the rising inorganic & organic strategies for transformer oil in developing nations such as China and India are also stimulating market growth. Furthermore, the increasing demand for various industries such as food & beverage, aerospace, automotive, power generation, and manufacturing is also encouraging market growth in this region. North America is expected to grow the fastest during the forecast period due to the increasing crude oil production and favorable government policies. Further, the maturation of the manufacturing & industrial sectors, especially in Canada and the U.S., is also helping to drive market growth. In addition, the increasing investments in the power sector because of the introduction of advanced technological electronic instruments propel the market growth in this region during the forecast period.
Asia-Pacific Region Transformer Oil Market Share in 2022 - 43.36%
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Function segment analysis
The function segment is divided into chemical stabilizer, insulator, lubricant, and cooling agent. The insulator segment dominated, with a market share of around 29.15% in 2022. This growth is attributed to the increasing demand for transformer oil to insulate high voltage electrical infrastructures like circuit breakers, transformers, and capacitors applications in electric utilities.
Type segment analysis
The type segment is divided into paraffinic oil, naphthenic oil, bio-based oil, silicone-based oil, and others. In 2022, the naphthenic oil segment dominated the market with the largest market share of 27.14% and market revenue of 0.60 billion. This growth is attributed to the rising demand for transformer oil from electric utilities like power plants, transmission systems, and other industrial applications.
End-Use segment analysis
The end-use segment is divided into distribution transformers, small transformer, utility transformers, power transformers, large transformer, and others. In 2022, the small transformer segment dominated the market with the largest market share of 21.16% and market revenue of 0.47 billion. This growth is attributed to the increasing demand for electricity in rural areas.
Application segment analysis
The application segment is divided into industrial, residential, and commercial. In 2022, the industrial segment dominated the market, accounting for around 41.12% of global revenue. This growth is attributed to the increasing installation of standalone power generation systems in industrial applications.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion), Volume (Kg) |
| Market size value in 2021 | USD 2.23 Billion, Volume (Liters) |
| Market size value in 2030 | USD 3.67 Billion, Volume (Liters) |
| CAGR (2022 to 2030) | 6.40% |
| Historical data | 2019-2020 |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Segments | Key Segments are function, type, end-use, application, and regions |
| Regional Segments | The key regions are North America, South America, Europe, Asia Pacific, and Middle East & Africa. |
Asia Pacific region emerged as the largest market for the transformer oil.
The market's growth will be influenced by the high usage of transformer oil in the power generation sector
A fluctuation in crude oil prices could hamper the market growth.
The expansion of electric grid in emerging economies will provide huge opportunities to the market.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis By Function
4.3.2. Market Attractiveness Analysis By Type
4.3.3. Market Attractiveness Analysis By End-Use
4.3.4. Market Attractiveness Analysis By Application
4.3.5. Market Attractiveness Analysis By Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. The increasing investment in sustainable energy sources across the globe
5.2.2. The expanding distribution & transmission of energy around the globe
5.2.3. The rising power consumption
5.3. Restraints
5.3.1. The rise in adoption of alternate transformer technologies
5.3.2. A fluctuation in crude oil prices
5.4. Opportunities
5.4.1. The expansion of electric grid in emerging economies
6. Global Transformer Oil Market Analysis and Forecast, By Function
6.1. Segment Overview
6.2. Chemical Stabilizer
6.3. Insulator
6.4. Lubricant
6.5. Cooling Agent
7. Global Transformer Oil Market Analysis and Forecast, By Type
7.1. Segment Overview
7.2. Paraffinic Oil
7.3. Naphthenic Oil
7.4. Bio-based Oil
7.5. Silicone based Oil
7.6. Others
8. Global Transformer Oil Market Analysis and Forecast, By End-Use
8.1. Segment Overview
8.2. Distribution Transformers
8.3. Small Transformer
8.4. Utility Transformers
8.5. Power Transformers
8.6. Large Transformer
8.7. Others
9. Global Transformer Oil Market Analysis and Forecast, By Application
9.1. Segment Overview
9.2. Industrial
9.3. Residential
9.4. Commercial
10. Global Transformer Oil Market Analysis and Forecast, By Regional Analysis
10.1. Segment Overview
10.2. North America
10.2.1. U.S.
10.2.2. Canada
10.2.3. Mexico
10.3. Europe
10.3.1. Germany
10.3.2. France
10.3.3. U.K.
10.3.4. Italy
10.3.5. Spain
10.4. Asia-Pacific
10.4.1. Japan
10.4.2. China
10.4.3. India
10.5. South America
10.5.1. Brazil
10.6. Middle East and Africa
10.6.1. UAE
10.6.2. South Africa
11. Global Transformer Oil Market-Competitive Landscape
11.1. Overview
11.2. Market Share of Key Players in Global Transformer Oil Market
11.2.1. Global Company Market Share
11.2.2. North America Company Market Share
11.2.3. Europe Company Market Share
11.2.4. APAC Company Market Share
11.3. Competitive Situations and Trends
11.3.1. Product Launches and Developments
11.3.2. Partnerships, Collaborations, and Agreements
11.3.3. Mergers & Acquisitions
11.3.4. Expansions
12. Company Profiles
12.1. Exxon Mobil Corporation
12.1.1. Business Overview
12.1.2. Company Snapshot
12.1.3. Company Market Share Analysis
12.1.4. Company Product Portfolio
12.1.5. Recent Developments
12.1.6. SWOT Analysis
12.2. Royal Dutch Shell
12.2.1. Business Overview
12.2.2. Company Snapshot
12.2.3. Company Market Share Analysis
12.2.4. Company Product Portfolio
12.2.5. Recent Developments
12.2.6. SWOT Analysis
12.3. PetroChina Company Limited
12.3.1. Business Overview
12.3.2. Company Snapshot
12.3.3. Company Market Share Analysis
12.3.4. Company Product Portfolio
12.3.5. Recent Developments
12.3.6. SWOT Analysis
12.4. Repsol
12.4.1. Business Overview
12.4.2. Company Snapshot
12.4.3. Company Market Share Analysis
12.4.4. Company Product Portfolio
12.4.5. Recent Developments
12.4.6. SWOT Analysis
12.5. Savita Oil Technologies Limited
12.5.1. Business Overview
12.5.2. Company Snapshot
12.5.3. Company Market Share Analysis
12.5.4. Company Product Portfolio
12.5.5. Recent Developments
12.5.6. SWOT Analysis
12.6. Sinopec Lubricant Company
12.6.1. Business Overview
12.6.2. Company Snapshot
12.6.3. Company Market Share Analysis
12.6.4. Company Product Portfolio
12.6.5. Recent Developments
12.6.6. SWOT Analysis
12.7. Ergon, Inc.
12.7.1. Business Overview
12.7.2. Company Snapshot
12.7.3. Company Market Share Analysis
12.7.4. Company Product Portfolio
12.7.5. Recent Developments
12.7.6. SWOT Analysis
12.8. APAR Industries
12.8.1. Business Overview
12.8.2. Company Snapshot
12.8.3. Company Market Share Analysis
12.8.4. Company Product Portfolio
12.8.5. Recent Developments
12.8.6. SWOT Analysis
12.9. Nynas AB
12.9.1. Business Overview
12.9.2. Company Snapshot
12.9.3. Company Market Share Analysis
12.9.4. Company Product Portfolio
12.9.5. Recent Developments
12.9.6. SWOT Analysis
12.10. Petro-Canada
12.10.1. Business Overview
12.10.2. Company Snapshot
12.10.3. Company Market Share Analysis
12.10.4. Company Product Portfolio
12.10.5. Recent Developments
12.10.6. SWOT Analysis
12.11. Chevron Corporation
12.11.1. Business Overview
12.11.2. Company Snapshot
12.11.3. Company Market Share Analysis
12.11.4. Company Product Portfolio
12.11.5. Recent Developments
12.11.6. SWOT Analysis
12.12. Phillips 66 Company
12.12.1. Business Overview
12.12.2. Company Snapshot
12.12.3. Company Market Share Analysis
12.12.4. Company Product Portfolio
12.12.5. Recent Developments
12.12.6. SWOT Analysis
12.13. Gandhar Oil
12.13.1. Business Overview
12.13.2. Company Snapshot
12.13.3. Company Market Share Analysis
12.13.4. Company Product Portfolio
12.13.5. Recent Developments
12.13.6. SWOT Analysis
12.14. M&I Materials Limited
12.14.1. Business Overview
12.14.2. Company Snapshot
12.14.3. Company Market Share Analysis
12.14.4. Company Product Portfolio
12.14.5. Recent Developments
12.14.6. SWOT Analysis
12.15. Lubrita
12.15.1. Business Overview
12.15.2. Company Snapshot
12.15.3. Company Market Share Analysis
12.15.4. Company Product Portfolio
12.15.5. Recent Developments
12.15.6. SWOT Analysis
12.16. Gulf Oil International
12.16.1. Business Overview
12.16.2. Company Snapshot
12.16.3. Company Market Share Analysis
12.16.4. Company Product Portfolio
12.16.5. Recent Developments
12.16.6. SWOT Analysis
12.17. Cargill, Incorporated.
12.17.1. Business Overview
12.17.2. Company Snapshot
12.17.3. Company Market Share Analysis
12.17.4. Company Product Portfolio
12.17.5. Recent Developments
12.17.6. SWOT Analysis
12.18. Calumet Specialty Products Partners, L.P.
12.18.1. Business Overview
12.18.2. Company Snapshot
12.18.3. Company Market Share Analysis
12.18.4. Company Product Portfolio
12.18.5. Recent Developments
12.18.6. SWOT Analysis
12.19. Hydrodec Group plc.
12.19.1. Business Overview
12.19.2. Company Snapshot
12.19.3. Company Market Share Analysis
12.19.4. Company Product Portfolio
12.19.5. Recent Developments
12.19.6. SWOT Analysis
12.20. Hyrax Oil Sdn Bhd.
12.20.1. Business Overview
12.20.2. Company Snapshot
12.20.3. Company Market Share Analysis
12.20.4. Company Product Portfolio
12.20.5. Recent Developments
12.20.6. SWOT Analysis
12.21. Valvoline Cummins
12.21.1. Business Overview
12.21.2. Company Snapshot
12.21.3. Company Market Share Analysis
12.21.4. Company Product Portfolio
12.21.5. Recent Developments
12.21.6. SWOT Analysis
12.22. Engen Petroleum Limited
12.22.1. Business Overview
12.22.2. Company Snapshot
12.22.3. Company Market Share Analysis
12.22.4. Company Product Portfolio
12.22.5. Recent Developments
12.22.6. SWOT Analysis
12.23. San Joaquin Refining Co
12.23.1. Business Overview
12.23.2. Company Snapshot
12.23.3. Company Market Share Analysis
12.23.4. Company Product Portfolio
12.23.5. Recent Developments
12.23.6. SWOT Analysis
12.24. Sasol
12.24.1. Business Overview
12.24.2. Company Snapshot
12.24.3. Company Market Share Analysis
12.24.4. Company Product Portfolio
12.24.5. Recent Developments
12.24.6. SWOT Analysis
List of Table
1. Global Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
2. Global Chemical Stabilizer, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
3. Global Insulator, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
4. Global Lubricant, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
5. Global Cooling Agent, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
6. Global Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
7. Global Paraffinic Oil, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
8. Global Naphthenic Oil, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
9. Global Bio-based Oil, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
10. Global Silicone based Oil, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
11. Global Others, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
12. Global Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
13. Global Distribution Transformers, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
14. Global Small Transformer, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
15. Global Utility Transformers, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
16. Global Power Transformers, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
17. Global Large Transformer, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
18. Global Others, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
19. Global Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
20. Global Industrial, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
21. Global Residential, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
22. Global Commercial, Transformer Oil Market, By Region, 2019-2030 (USD Billion) (Liters)
23. North America Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
24. North America Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
25. North America Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
26. North America Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
27. U.S. Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
28. U.S. Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
29. U.S. Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
30. U.S. Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
31. Canada Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
32. Canada Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
33. Canada Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
34. Canada Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
35. Mexico Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
36. Mexico Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
37. Mexico Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
38. Mexico Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
39. Europe Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
40. Europe Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
41. Europe Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
42. Europe Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
43. Germany Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
44. Germany Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
45. Germany Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
46. Germany Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
47. France Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
48. France Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
49. France Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
50. France Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
51. U.K. Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
52. U.K. Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
53. U.K. Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
54. U.K. Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
55. Italy Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
56. Italy Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
57. Italy Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
58. Italy Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
59. Spain Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
60. Spain Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
61. Spain Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
62. Spain Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
63. Asia Pacific Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Lters)
64. Asia Pacific Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
65. Asia Pacific Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
66. Asia Pacific Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
67. Japan Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
68. Japan Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
69. Japan Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
70. Japan Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
71. China Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
72. China Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
73. China Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
74. China Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
75. India Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
76. India Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
77. India Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
78. India Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
79. South America Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
80. South America Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
81. South America Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
82. South America Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
83. Brazil Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
84. Brazil Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
85. Brazil Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
86. Brazil Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
87. Middle East and Africa Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
88. Middle East and Africa Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
89. Middle East and Africa Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
90. Middle East and Africa Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
91. UAE Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
92. UAE Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
93. UAE Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
94. UAE Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
95. South Africa Transformer Oil Market, By Function, 2019-2030 (USD Billion) (Liters)
96. South Africa Transformer Oil Market, By Type, 2019-2030 (USD Billion) (Liters)
97. South Africa Transformer Oil Market, By End-Use, 2019-2030 (USD Billion) (Liters)
98. South Africa Transformer Oil Market, By Application, 2019-2030 (USD Billion) (Liters)
List of Figures
1. Global Transformer Oil Market Segmentation
2. Global Transformer Oil Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Transformer Oil Market Attractiveness Analysis By Function
9. Global Transformer Oil Market Attractiveness Analysis By Type
10. Global Transformer Oil Market Attractiveness Analysis By End-Use
11. Global Transformer Oil Market Attractiveness Analysis By Application
12. Global Transformer Oil Market Attractiveness Analysis By Region
13. Global Transformer Oil Market: Dynamics
14. Global Transformer Oil Market Share By Function (2022 & 2030)
15. Global Transformer Oil Market Share By Type (2022 & 2030)
16. Global Transformer Oil Market Share By End-Use (2022 & 2030)
17. Global Transformer Oil Market Share By Application (2022 & 2030)
18. Global Transformer Oil Market Share By Regions (2022 & 2030)
19. Global Transformer Oil Market Share By Company (2021)
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global transformer oil based on below mentioned segments:
Global Transformer Oil Market by Function:
Global Transformer Oil Market by Type:
Global Transformer Oil Market by End-Use:
Global Transformer Oil Market by Application:
Global Transformer Oil by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.
The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.
Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:
The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.
The data procurement stage involves in data gathering and collecting through various data sources.
This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
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