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1623049

2024 年至 2031 年變壓器油市場按類型、應用、最終用戶和地區劃分

Transformer Oil Market By Type, Application, End-User, & Region for 2024-2031

出版日期: 2024年07月27日 | 出版商:

Verified Market Research | 英文 202 Pages | 商品交期: 2-3個工作天內

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簡介目錄

2024 年至 2031 年變壓器油市場評估

快速的都市化、工業化和電力系統發展促使對電力的需求日益增長，尤其是在新興國家。隨著各國政府努力升級老化的電力基礎設施並整合再生能源，對變壓器以及變壓器油的需求預計將在2024 年增長到27.5 億美元以上，到2031 年將增長到41 億美元。億美元。

此外，輸電和高壓電網向智慧電網的擴展正在推動對改善冷卻和絕緣的變壓器油的需求。預計 2024 年至 2031 年期間，再生能源整合趨勢和政府對電氣化專案的投資將以約 5.20% 的複合年增長率成長。

變壓器油市場定義/概述

變壓器油是一種特殊的絕緣液，用於變壓器和其他電氣設備的冷卻、絕緣和消弧。它們透過散熱和在組件之間提供電氣絕緣，大大提高了變壓器的效率和壽命。變壓器油的主要應用包括電力變壓器、斷路器和電容器，尤其是在能源和公用事業領域。展望未來，由於全球電力需求不斷增長、電網發展、可再生能源基礎設施支出增加以及向環保和可生物降解油的轉變，市場預計將擴大。

日益增長的智慧電網轉變會推動變壓器油市場的發展嗎？

智慧電網日益增長的趨勢是變壓器油市場的重要驅動力。這種變化是由對更高效、可靠和可持續的電網的需求所驅動，從而增加了對高性能變壓器油的需求。智慧電網需要能夠處理波動負載並結合再生能源的現代變壓器，以及使用高品質的變壓器油。根據國際能源總署（IEA）的數據，2023年全球智慧電網投資將達350億美元，比2022年成長12%。 2024年3月，美國能源部宣佈將投資35億美元用於電網建設項目，包括智慧電網建設。

在印度，電力部製定了國家智慧電網任務，旨在透過智慧電網計畫徹底改變該國的電力產業。 2023年9月，政府宣佈計畫在2025年安裝超過2.5億台智慧電錶。在中國，中國國家電網公司宣佈已建成全球最大的智慧電網系統，覆蓋28個省區，服務超過11億人口。

日益增長的環境問題會阻礙變壓器油市場的成長嗎？

日益嚴重的環境問題預計將阻礙變壓器油市場的成長。尤其是當傳統礦物變壓器油對環境的影響受到嚴格審查時。這些從原油中提取的油如果洩漏或處理不當會嚴重污染土壤和水，因此政府加強了對其使用和處理的監管。作為回應，人們越來越傾向於採用更永續的選擇，例如從天然酯中提取的可生物降解油。這種轉變雖然創造了創新的潛力，但也為必須從事研發以生產環保產品的生產商帶來了更高的價格。

此外，立法較不嚴格的地區可能會看到環保潤滑油的採用速度較慢，從而影響整體市場的成長。儘管存在短期障礙，但能夠適應這些限制並提供永續解決方案的組織可能能夠在長期內獲得顯著的市場佔有率。

The increasing need for electricity as a result of fast urbanization, industrialization, and power system development, particularly in emerging countries. As governments work to upgrade old electrical infrastructure and integrate renewable energy sources, the need for transformers and, by extension, transformer oil, grows surpassing USD 2.75 Billion in 2024 and reaching USD 4.12 Billion by 2031.

Furthermore, the transition to smart grids and the expansion of high-voltage transmission networks are increasing the demand for specialist transformer oils that improve cooling and insulation. The trend towards renewable energy integration, as well as government investments in electrification projects, is expected to grow at aCAGR of about 5.20% from 2024 to 2031.

Transformer Oil Market: Definition/ Overview

Transformer oil is a specialized insulating fluid that is used to cool, insulate, and suppress arcs in transformers and other electrical equipment. It contributes significantly to transformer efficiency and longevity by dispersing heat and providing electrical insulation between components. Transformer oil's principal applications include power transformers, circuit breakers, and capacitors, particularly in the energy and utility sectors. In terms of future scope, the market is predicted to expand due to rising worldwide electricity demand, power grid development, and increased expenditures in renewable energy infrastructure, as well as a shift toward eco-friendly and biodegradable oils.

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Will the Rising Shift toward Smart Grids Drive the Transformer Oil Market?

The growing trend towards smart grids is a crucial driver for the transformer oil market. This change is driven by the need for more efficient, dependable, and sustainable power distribution networks, which raises the demand for high-performing transformer oils. Smart grids necessitate the use of modern transformers capable of handling fluctuating loads and incorporating renewable energy sources, as well as high-quality transformer oils. According to the International Energy Agency (IEA), global investment in smart grids will reach USD 35 Billion in 2023, up 12% from 2022. In March 2024, The US Department of Energy announced a USD 3.5 Billion investment in grid upgrading projects, including smart grid initiatives.

In India, the Ministry of Power developed the National Smart Grid Mission, which aims to revolutionize the country's power industry through smart grid initiatives. In September 2023 the government announced plans to install more than 250 million smart meters by 2025. China, with the State Grid Corporation of China announcing that it had built the world's largest smart grid system, which covered 28 provinces and served over 1.1 billion people.

Will Rising Environmental Concerns Hinder the Growth of the Transformer Oil Market?

Rising environmental concerns are projected to pose a hindrance to the transformer oil market's growth, particularly as the environmental impact of traditional mineral-based transformer oils is scrutinized. These oils, which are generated from crude oil, can cause considerable soil and water contamination if spilled or incorrectly disposed of, prompting stronger government rules on their use and disposal. In response, there is a rising preference for more sustainable options, such as biodegradable oils derived from natural esters. While this transition creates potential for innovation, it also raises prices for producers who must engage in R&D to generate environmentally friendly products.

Furthermore, adoption of environmentally friendly lubricants may be slower in areas with less rigorous laws, impacting total market growth. Despite the short-term obstacles, organizations that can adapt to these restrictions and provide sustainable solutions may grab a considerable market share in the long run.

Category-Wise Acumens

Will Rising Demand for Mineral Oil Drive the Transformer Oil Market?

The rising demand for mineral oil is driving the transformer oil market, as mineral oil is still the most extensively used insulating and cooling fluid for transformers, owing to its low cost and long-standing reliability. Its widespread application in power transformers, distribution transformers, and other electrical equipment is critical to ensuring electrical efficiency. Despite growing environmental concerns, mineral oil's ubiquitous infrastructure and lower cost continue to drive demand, particularly in regions with developing power grids. For instance, in March 2024, Shell announced an expansion in its production of mineral-based transformer oils to fulfill increased worldwide demand, notably from emerging regions in Asia and Africa with fast expanding power infrastructure.

However, environmental groups and governments are putting increasing pressure on businesses to adopt more sustainable practices. In February 2024, the European Union suggested stronger restrictions for the use of conventional mineral oils, with an emphasis on decreasing environmental concerns such as soil pollution from oil spills. This has pushed companies such as Nynas to expand their research into biodegradable and environmentally friendly oils as part of their product line.

However, bio-based oils are the fastest-growing segment, driven by increased environmental concerns and severe laws that need eco-friendly alternatives. Bio-based oils provide biodegradable, non-toxic solutions that reduce environmental concerns, making them increasingly attractive in both developed and developing countries, particularly in programs promoting sustainability and green energy integration.

Will Rising Sales of Distribution Transformers Drive the Transformer Oil Market?

Rising distribution transformer sales are considerably boosting the transformer oil market, owing to increased demand for power in both urban and rural areas. As countries invest in developing their electrical infrastructure to satisfy their populations' growing energy demands, the use of distribution transformers becomes increasingly important. These transformers serve an important role in scaling down high voltage electricity for local distribution, making them necessary for residential and commercial power supplies.

For instance, in January 2024, Siemens Energy announced plans to enhance distribution transformer production capacity in response to rising demand in emerging areas, particularly Asia and Africa, where electrification initiatives are growing. This growth in distribution transformer sales is directly proportional to the increased demand for transformer oil, as these devices require significant volumes for cooling and insulating.

However, distribution transformers are the fastest-growing market, driven by increased urbanization, rural electrification programs, and the expansion of electricity infrastructure in developing countries. As worldwide power demand rises, particularly in residential and commercial sectors, the demand for distribution transformers and, by extension, transformer oil, increases significantly.

Country/Region-wise Acumens

Will Rising Investments in Modernization in Grids in North America Drive the Transformer Oil Market?

For instance, in April 2023, ExxonMobil said that it would expand its transformer oil production facility in Port Allen, Louisiana, by 25% to satisfy rising demand. Furthermore, In July 2023, the American Society for Testing and Materials (ASTM) modified its transformer oil standards introducing new parameters to meet the changing needs of current grid systems. These developments highlight the direct relationship between grid modernization investments and the growth of the transformer oil business in North America.

Will Rapid Urbanization in Asia-Pacific Propel the Transformer Oil Market?

Rapid urbanization in Asia-Pacific drives the transformer oil market due to increased demand for dependable electrical infrastructure. As cities and populations develop, power generation, distribution, and transmission become increasingly important. Transformer oils, which are required for the proper operation of transformers, are critical in reducing dangers such as overheating and electrical arcing. The increase in urban construction projects, such as residential, commercial, and industrial developments, directly drives transformer installations.

In August 2023, the Indian government announced the "National Electricity Policy," which aims to enhance the country's transmission and distribution networks, which are critical for metropolitan regions. This project calls for further renewable energy integration, as well as the use of high-quality transformer oils to ensure efficiency and longevity.

Competitive Landscape

The competitive landscape of the transformer oil market is characterized by intense competition driven by increasing demand for energy infrastructure, industrialization, and the expansion of power grids worldwide. Companies are focusing on innovation, offering environmentally friendly alternatives like biodegradable and high-performance oils. There is also a trend toward strategic partnerships and mergers to expand product portfolios and geographical reach. Additionally, firms are investing in research and development to enhance oil performance for transformers, ensuring greater efficiency and longer service life, while navigating regulatory pressures around environmental sustainability and safety standards.

Some of the prominent players operating in the transformer oil market include:

Sinopec Lubricant Company

Valvoline

Cargill, Inc.

Ergon International, Inc.

PetroChina Lubricant Company

Apar Industries Ltd.

Engen Petroleum Ltd.

Hydrodec Group plc

Calumet Specialty Products

Nynas AB

Savita Oil Technologies

Chevron Corporation

Gandhar Oil

Sasol

Hydrax Oil

Exxon Mobil Corporation

Royal Dutch Shell

Latest Developments

In May 2023, Chevron introduced better transformer oil products with higher viscosity and reduced environmental effects. The company's dedication to sustainability is consistent with worldwide trends toward lowering carbon emissions, allowing it to compete in areas dominated by green technologies.

In April 2023, ExxonMobil increased its transformer oil product portfolio by providing biodegradable choices in response to rising demand for environmentally friendly solutions in the energy sector. This project complements the company's strategy of innovating in response to regulatory challenges and customer desires for environmentally friendly products.

1 INTRODUCTION OF GLOBAL TRANSFORMER OIL MARKET

1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions

2 EXECUTIVE SUMMARY

3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH

3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources

4 GLOBAL TRANSFORMER OIL MARKET OUTLOOK

4.1 Overview
4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis

5 GLOBAL TRANSFORMER OIL MARKET, BY TYPE

5.1 Overview
5.2 Bio Based
5.3 Silicone Oil
5.4 Mineral Oil

6 GLOBAL TRANSFORMER OIL MARKET, BY APPLICATION

6.1 Overview
6.2 Distribution Transformers
6.3 Power Transformers
6.4 Instrument Transformers
6.5 Other Transformers

7 GLOBAL TRANSFORMER OIL MARKET, BY END USE

7.1 Overview
7.2 Transmission & Distribution
7.3 Power Generation
7.4 Railways & Metros
7.5 Others

8 GLOBAL TRANSFORMER OIL MARKET, BY GEOGRAPHY

8.1 Overview
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
- 8.2.3 Mexico
8.3 Europe
- 8.3.1 Germany
- 8.3.2 U.K.
- 8.3.3 France
- 8.3.4 Rest of Europe
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 Japan
- 8.4.3 India
- 8.4.4 Rest of Asia Pacific
8.5 Rest of the World
- 8.5.1 Latin America
- 8.5.2 Middle East And Africa

9 GLOBAL TRANSFORMER OIL MARKET COMPETITIVE LANDSCAPE

9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies

10 COMPANY PROFILES

10.1 Nynas AB
- 10.1.1 Overview
- 10.1.2 Financial Performance
- 10.1.3 Product Outlook
- 10.1.4 Key Developments
10.2 Ergon Inc.
- 10.2.1 Overview
- 10.2.2 Financial Performance
- 10.2.3 Product Outlook
- 10.2.4 Key Developments
10.3 Petrochina Company Limited
- 10.3.1 Overview
- 10.3.2 Financial Performance
- 10.3.3 Product Outlook
- 10.3.4 Key Developments
10.4 APAR Industries Limited
- 10.4.1 Overview
- 10.4.2 Financial Performance
- 10.4.3 Product Outlook
- 10.4.4 Key Developments
10.5 Calumet Specialty Products Partners
- 10.5.1 Overview
- 10.5.2 Financial Performance
- 10.5.3 Product Outlook
- 10.5.4 Key Developments
10.6 L.P.
- 10.6.1 Overview
- 10.6.2 Financial Performance
- 10.6.3 Product Outlook
- 10.6.4 Key Developments
10.7 Sinopec Corporation
- 10.7.1 Overview
- 10.7.2 Financial Performance
- 10.7.3 Product Outlook
- 10.7.4 Key Developments
10.8 Hydrodec Group PLC
- 10.8.1 Overview
- 10.8.2 Financial Performance
- 10.8.3 Product Outlook
- 10.8.4 Key Developments
10.9 Cargill
- 10.9.1 Overview
- 10.9.2 Financial Performance
- 10.9.3 Product Outlook
- 10.9.4 Key Developments
10.10 Incorporated
- 10.10.1 Overview
- 10.10.2 Financial Performance
- 10.10.3 Product Outlook
- 10.10.4 Key Developments