Transformer Oil Treatment Plants Market: Introduction
- Transformer oil is majorly used as liquid insulation and dissipates transformer heat. More specifically, transformer oil is used as a coolant in transformers and as a means of arc suppression in circuit breakers.
- There are two common types of insulating oils: mineral oil and paraffinic oil. Transformer oil is either changed or treated. Oil treatment includes purification, recycling or restoration, and other operations.
- Proper treatment and upgrading of insulating fluid would result in improvement in properties of insulating media of power transformers
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Key Drivers and Restrains of Global Transformer Oil Treatment Plants Market
- Increase in energy demand and number of smart grid distribution systems is expected to drive the demand for transformer oil. This is likely to fuel the growth of the transformer oil treatment plants market. In 2017, the global energy demand grew by 2.1%, twice the previous year’s rate.
- The transformer oil treatment plants market is also driven by factors such as rise in investments in renewable energy, such as wind energy, due to favorable government initiatives and policies. Policy interventions, such as Nationally Determined Contributions (NDCs) and Sustainable Development Goals (SDGs) by several countries are creating demand for renewable energy worldwide.
- Low awareness about benefits of transformer oil treatment plants in developing countries may hamper the growth of the market
Utilities End-use Segment to Offer Attractive Opportunities
- The global transformer oil treatment plants market can be segmented based on type, end-use, and region
- In terms of type, the global transformer oil treatment plants market can be divided into single stage and double stage. The double stage segment is expected to grow at the highest CAGR during the forecast period. Double stage includes two-stage degasification, two-stage filtration, along with high vacuum and low temperature of oil for achieving desired parameters required for purification of used transformer oil. However, single stage involves single step degasification to improve the desired parameters required for purification of used transformer oil.
- In terms of end-use, the global transformer oil treatment plants market can be segregated into utilities, power industry, and others. The utilities segment dominated the global transformer oil treatment plants market and is expected to grow at a high CAGR during the forecast period.
Asia Pacific to Hold Major Share of Global Market
- In terms of region, the global transformer oil treatment plants market can be classified into: North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Asia Pacific dominated the global transformer oil treatment plants market in 2018. This market in Asia Pacific is expected to grow at a prominent CAGR during the forecast period. Increase in energy demand following urbanization, economic modernization, and better living standards across the region has resulted in the growth of sustainable power systems, which, in turn, has increased the demand for transformer oil, thus driving the market in the region.
- China, Japan, Indonesia, and India are the leading countries that are witnessing rapid transformation with significant developments in infrastructure and grid expansion
- The transformer oil treatment plants market in North America and Europe is expected to grow significantly during the forecast period. These regions are upgrading and expanding their grids installations. Additionally, significant investments in renewable resources, such as wind farms and hydroelectric power, are also driving the transformer oil treatment plants market. The U.S. presently has more than 55,000 substations and over 450,000 miles of high-voltage transmission lines installed.
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Key Players Operating in Global Transformer Oil Treatment Plants Market
The global transformer oil treatment plants market is highly concentrated with top manufacturers accounting for approximately 40%–45% share of the market. Key players operating in the global transformer oil treatment plants market include:
- ABB Ltd
- AVT Services
- Alfa Laval
- Enervac International ULC
- CbS Technologies Pvt. Ltd
- KONDIC d.o.o.
- Chongqing HOPU Filtration Plant Manufacture Co.,ltd
- Hering-VPT GmbH
- In November 2018, the HCS Group, a leading international supplier of solutions for high-value hydrocarbon specialties, announced the acquisition of Trafolube GmbH. The company specializes in recycling of transformer and turbine oils using ecologically sound processes at its production site in Duisburg, Germany.
Global Transformer Oil Treatment Plants Market: Research Scope
Global Transformer Oil Treatment Plants Market, by Oil Type
- Single Stage
- Double Stage
Global Transformer Oil Treatment Plants Market, by End-use
- Power Industry
Global Transformer Oil treatment plants Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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