Market Overview According to the research report, the global transformer oil market was valued at USD 2.28 billion in 2023 and is expected to reach USD 6.56 billion by 2032, to grow at a CAGR of 12.4% during the forecast period. Transformer oil, also known as insulating oil or dielectric fluid, is vital in protecting electrical transformers from overheating and short-circuiting. It...