North America Transformer Oil Market Report and Forecast 2025-2034
Market Report I 2025-06-06 I 125 Pages I EMR Inc.
The North America transformer oil market size was valued at USD 562.94 Million in 2024. The market is further projected to grow at a CAGR of 6.40% between 2025 and 2034, reaching a value of USD 1046.84 Million by 2034.
Bio-based transformer oils are gaining popularity due to their eco-friendly nature and superior performance characteristics. These oils are produced from renewable resources such as vegetable oils, and they offer better biodegradability, higher flash points, and lower dielectric losses compared to conventional mineral oils. Cargill Inc. has developed a range of bio-based transformer oils under the brand name Bio-Tan. These oils are produced from renewable resources such as soybean oil and offer superior performance characteristics compared to conventional mineral oils.
As per North Americatransformer oil marketanalysis, silicone-based transformer oils are gaining popularity due to their high dielectric strength, excellent thermal stability, and low volatility. These oils are ideal for high-temperature applications and offer better performance compared to conventional mineral oils. Shell Plc. has developed a range of silicone-based transformer oils under the brand name Shell Diala Sil. These oils offer high dielectric strength, excellent thermal stability, and low volatility.
The power transmission and distribution infrastructure in North America is aging, and there is a need for modernisation and upgradation of the existing infrastructure. This is expected to drive the North America transformer oil market growth. China Petroleum & Chemical Corporation has announced plans to build a new transformer oil production facility in North America to meet the growing demand for transformer oils.
The demand for high-voltage transformers is increasing due to the growing demand for electricity and the need for efficient power transmission and distribution. This is expected to drive the demand for high-performance transformer oils in the region. Engen Petroleum Ltd. has developed a range of high-performance transformer oils under the brand name Engen Transformer Oil. These oils are designed for high-voltage applications and offer superior performance characteristics compared to conventional mineral oils.
Market Segmentation
North America Transformer Oil Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments
Market Breakup by Type
- Mineral Oil _x000D_ _x000D_ Paraffinic _x000D_ Naphthenic _x000D_ _x000D_
- Mineral Oil _x000D_ _x000D_ Paraffinic _x000D_ Naphthenic _x000D_ _x000D_
- Silicone-Based Oil
- Bio-Based Oil
- Silicone-Based Oil
- Bio-Based Oil
Market Breakup by Application
- Transformer
- Switchgear
- Circuit Breaker
- Others
Market Breakup by End Use
- Power Generation
- Transmission
- Railways and Metros
- Others
Market Breakup by Region
- United States of America
- Canada
Competitive Landscape
Market players are focusing on developing biodegradable transformer oils to align with environmental regulations and sustainability goals.
- Exxon Mobil Corporation
- Petro-Canada Lubricants LLC
- Shell Plc
- Chevron Corp.
- Castrol Limited
- Philips 66 Company
- Calumet Specialty Products Partners, L.P.
- San Joaquin Refining Co. Inc.
- Ergon, Inc.
- Cross Oil Refining & Marketing, Inc.
- Sunoco Lubricants
- Others
1 Executive Summary
1.1 Market Size 2024-2025
1.2 Market Growth 2025(F)-2034(F)
1.3 Key Demand Drivers
1.4 Key Players and Competitive Structure
1.5 Industry Best Practices
1.6 Recent Trends and Developments
1.7 Industry Outlook
2 Market Overview and Stakeholder Insights
2.1 Market Trends
2.2 Key Verticals
2.3 Key Countries
2.4 Supplier Power
2.5 Buyer Power
2.6 Key Market Opportunities and Risks
2.7 Key Initiatives by Stakeholders
3 Economic Summary
3.1 GDP Outlook
3.2 GDP Per Capita Growth
3.3 Inflation Trends
3.4 Democracy Index
3.5 Gross Public Debt Ratios
3.6 Balance of Payment (BoP) Position
3.7 Population Outlook
3.8 Urbanisation Trends
4 Country Risk Profiles
4.1 Country Risk
4.2 Business Climate
5 Global Transformer Oil Market Overview
5.1 Key Industry Highlights
5.2 Global Transformer Oil Historical Market (2018-2024)
5.3 Global Transformer Oil Market Forecast (2025-2034)
5.4 Global Transformer Oil Market Share by Region
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6 North America Transformer Oil Market Overview
6.1 Key Industry Highlights
6.2 North America Transformer Oil Historical Market (2018-2024)
6.3 North America Transformer Oil Market Forecast (2025-2034)
7 North America Transformer Oil Market by Type
7.1 Mineral Oil
7.1.1 Historical Trend (2018-2024)
7.1.2 Forecast Trend (2025-2034)
7.1.3 Breakup by Type
7.1.3.1 Paraffinic
7.1.3.2 Naphthenic
7.2 Silicone-Based Oil
7.2.1 Historical Trend (2018-2024)
7.2.2 Forecast Trend (2025-2034)
7.3 Bio-Based Oil
7.3.1 Historical Trend (2018-2024)
7.3.2 Forecast Trend (2025-2034)
8 North America Transformer Oil Market by Application
8.1 Transformer
8.1.1 Historical Trend (2018-2024)
8.1.2 Forecast Trend (2025-2034)
8.2 Switchgear
8.2.1 Historical Trend (2018-2024)
8.2.2 Forecast Trend (2025-2034)
8.3 Circuit Breaker
8.3.1 Historical Trend (2018-2024)
8.3.2 Forecast Trend (2025-2034)
8.4 Others
9 North America Transformer Oil Market by End Use
9.1 Power Generation
9.1.1 Historical Trend (2018-2024)
9.1.2 Forecast Trend (2025-2034)
9.2 Transmission
9.2.1 Historical Trend (2018-2024)
9.2.2 Forecast Trend (2025-2034)
9.3 Railways and Metros
9.3.1 Historical Trend (2018-2024)
9.3.2 Forecast Trend (2025-2034)
9.4 Others
10 North America Transformer Oil Market by Country
10.1 United States of America
10.1.1 Historical Trend (2018-2024)
10.1.2 Forecast Trend (2025-2034)
10.2 Canada
10.2.1 Historical Trend (2018-2024)
10.2.2 Forecast Trend (2025-2034)
11 Market Dynamics
11.1 SWOT Analysis
11.1.1 Strengths
11.1.2 Weaknesses
11.1.3 Opportunities
11.1.4 Threats
11.2 Porter's Five Forces Analysis
11.2.1 Supplier's Power
11.2.2 Buyer's Power
11.2.3 Threat of New Entrants
11.2.4 Degree of Rivalry
11.2.5 Threat of Substitutes
11.3 Key Indicators of Demand
11.4 Key Indicators of Price
12 Value Chain Analysis
13 Competitive Landscape
13.1 Supplier Selection
13.2 Key Global Players
13.3 Key Regional Players
13.4 Key Player Strategies
13.5 Company Profiles
13.5.1 Exxon Mobil Corporation
13.5.1.1 Company Overview
13.5.1.2 Product Portfolio
13.5.1.3 Demographic Reach and Achievements
13.5.1.4 Certifications
13.5.2 Petro?Canada Lubricants LLC
13.5.2.1 Company Overview
13.5.2.2 Product Portfolio
13.5.2.3 Demographic Reach and Achievements
13.5.2.4 Certifications
13.5.3 Shell Plc
13.5.3.1 Company Overview
13.5.3.2 Product Portfolio
13.5.3.3 Demographic Reach and Achievements
13.5.3.4 Certifications
13.5.4 Chevron Corp.
13.5.4.1 Company Overview
13.5.4.2 Product Portfolio
13.5.4.3 Demographic Reach and Achievements
13.5.4.4 Certifications
13.5.5 Castrol Limited
13.5.5.1 Company Overview
13.5.5.2 Product Portfolio
13.5.5.3 Demographic Reach and Achievements
13.5.5.4 Certifications
13.5.6 Philips 66 Company
13.5.6.1 Company Overview
13.5.6.2 Product Portfolio
13.5.6.3 Demographic Reach and Achievements
13.5.6.4 Certifications
13.5.7 Calumet Specialty Products Partners, L.P.
13.5.7.1 Company Overview
13.5.7.2 Product Portfolio
13.5.7.3 Demographic Reach and Achievements
13.5.7.4 Certifications
13.5.8 San Joaquin Refining Co. Inc.
13.5.8.1 Company Overview
13.5.8.2 Product Portfolio
13.5.8.3 Demographic Reach and Achievements
13.5.8.4 Certifications
13.5.9 Ergon, Inc.
13.5.9.1 Company Overview
13.5.9.2 Product Portfolio
13.5.9.3 Demographic Reach and Achievements
13.5.9.4 Certifications
13.5.10 Cross Oil Refining & Marketing, Inc.
13.5.10.1 Company Overview
13.5.10.2 Product Portfolio
13.5.10.3 Demographic Reach and Achievements
13.5.10.4 Certifications
13.5.11 Sunoco Lubricants
13.5.11.1 Company Overview
13.5.11.2 Product Portfolio
13.5.11.3 Demographic Reach and Achievements
13.5.11.4 Certifications
13.5.12 Others
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.