Transformer Oil Market: Global Market Size, Industry Share, Approaches and Forecast 2017-2025, Credence Research

the Global Transformer Oil Market is expected to reach US$ 5.3 Bn by 2025, expanding at a CAGR of 4.7% during the forecast period 2017 - 2025.

According to a new market report published by Credence Research Global Transformer Oil Market- Growth, Future Prospects & Competitive Analysis, 2017 - 2025, the Global Transformer Oil Market is expected to reach US$ 5.3 Bn by 2025, expanding at a CAGR of 4.7% during the forecast period 2017 - 2025.
Browse the full Global Transformer Oil Market by Type, Application and Geography - Growth, Future Prospects & Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/transformer-oil-market
Market Insights
Increasing power demand due to growth in industrial, commercial and residential establishments fueling the demand for electricity across the globe which in turn is driving the demand for transformers subsequently increase the demand for transformer oil. Besides this, favorable government initiatives in key consuming economies such as India to completely move to electric vehicles on the road by 2030 which is expected to fuel the electricity consumption in India which is subsequently fueling the demand for transformer oil. Furthermore, rapid growth in rural electrification due to various government initiatives in emerging economies such as India and China is expected to impel the growth in demand of transformer which is subsequently projected to drive the demand for transformer oil over the forecast period. However, growing inclination towards dry type transformer and corrosive nature of transformer oil due the presence of sulfur content is projected to hamper the growth of transformer oil over the forecast period (2017-2025).
Competitive Insights:
Global transformer oil market is segmented on the basis of type, application and geography. By type, mineral oil based segment was the most dominant segment in global transformer oil market in 2017 and anticipated to continue its dominance over the forecast period. Easy availability and affordable prices are projected to be the growth drivers of the segment. Based on application, distribution transformer segment accounted for the largest share in global transformer oil market. Growing demand for electricity due to growing urbanization and rural electrification projected to drive the growth of the segment. On the basis of geography, Asia Pacific was estimated to be the largest market for transformer oil in 2017 and projected to maintain its dominance during the forecast period. Rapid urbanization and growing industrial manufacturing and high growth in rural electrification is expected to impel the electricity consumption in the region which in turn is anticipated to drive the growth of the segment during the forecast period. Major players in global transformer oil market are investing in research and development, merger and acquisition with focus on improve their product portfolio and market penetration.
Overall, global transformer oil market is anticipated to register significant growth over the forecast period (2017-2025).
Key Trends:
- Merger & Acquisition
- Investment in R&D
Browse the full Global Transformer Oil Market by Type, Application and Geography - Growth, Future Prospects & Competitive Analysis, 2017 – 2025 report at http://www.credenceresearch.com/report/transformer-oil-market
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Transformer oil's primary functions are to insulate and cool a transformer. It must therefore have high dielectric strength, thermal conductivity, and chemical stability, and must keep these properties when held at high temperatures for extended periods.[1] Typical specifications are: flash point 140 °C or greater, pour point -30 °C or lower, dielectric breakdown voltage 28 kV (RMS) or greater.[2]
To improve cooling of large power transformers, the oil-filled tank may have external radiators through which the oil circulates by natural convection. Power transformers with capacities of thousands of kVA may also have cooling fans, oil pumps, and even oil-to-water heat exchangers.[3]
Power transformers undergo prolonged drying processes, using electrical self-heating, the application of a vacuum, or both to ensure that the transformer is completely free of water vapor before the insulating oil is introduced. This helps prevent corona formation and subsequent electrical breakdown under load.
Oil filled transformers with a conservator (oil reservoir) may have a gas detector relay (Buchholz relay). These safety devices detect the buildup of gas inside the transformer due to corona discharge, overheating, or an internal electric arc. On a slow accumulation of gas, or rapid pressure rise, these devices can trip a protective circuit breaker to remove power from the transformer. Transformers without conservators are usually equipped with sudden pressure relays, which perform a similar function as the Buchholz relay.
Source : Wikipedia
What's chemical name of transformer oil?
The transformer oil performs two very important functions.
1. It creates an acceptable level of insulation in combination with the insulating materials used in the conductors and coils.
2. It also acts as a coolant to extract heat from the core and the wingdings.
A good transformer oil must have the following Physical, chemical and electrical properties.
Physical constants of Transformer oil
Property Recommended value
Permitivity 2.2
Thermal conductivity 0.12 W/m deg C
Specific Heat 2.06 kJ/kg deg C
coefficient of Expansion 0.00078/ deg C
Mean density factor 0.00065/ deg C
The above parameters are based on IS 335(Indian standard)
Transformer makes use of hydrocarbon mineral oil. It mainly consists of four generic classes of organic compounds. They are aromatics, paraffins, napthenes and olefines. Transformer oil will provide better insulation when aromatics, paraffins, napthenes and olefines are present in it at a right proportion. Transformer oil is desired to have more of saturated paraffins and less of aromatics, napthenes and olefines for better insulation. For more stability, more aromatics and napthenes are necessary. To get transformer oil at insulating property and stability, there must be an optimum mix of four organic components. This can be obtained by careful refining of crude oil. Vegetable and animal oils cannot be used in transformers because they form fatty acids and attack the fibrous insulating materials.
[Ref: quora.com]
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