The use of wind energy as one of the major alternative energy sources to address global warming and resource conservation concerns has led to the rapid adoption of wind turbines. Considerable support from the government has increased the adoption of these wind turbines in the last decade. This has further boosted the demand for lubricants for wind turbine market. The lubricants for wind turbine market is expected to expand significantly owing to its austere performance requirements and high penetration rate of synthetic lubricants.
Absence of legitimate grease can cause vibration, pollution and dampness, and high mechanical burdens, hampering the life of the motor. A few course and drives require grease independent of its structure. Oil ensures the machine and expands the life of its basic parts. It likewise expands administration interim, streamlines administration assignments, and shields the motor from barometrical conditions. Improvement in the wind vitality area, channel interim augmentations, and the high pace of direct drive machines are foreseen to drive the interest for lubricants for wind turbine market over the forecast time frame.
Rise in demand for wind energy as a source of electricity owing to its environmentally-friendly nature can augment the wind energy sector. Electricity generated from wind energy is void of fossil fuel; therefore, it does not contribute to carbon emissions. Moreover, governments of various countries are promoting the wind energy industry. This is estimated to propel the installation of wind turbines around the globe. This, in turn, is likely to drive the lubricants for wind turbine market.
Usage of biodegradable oils acts as a restraint for the lubricants for wind turbine market. Servicing of a wind turbine in offshore conditions is difficult. Biodegradable oils tend to breakdown and release acids that attack the bearings and other copper parts of wind turbines.
The lubricants for wind turbine market can be segmented based on lubricant type, major turbine component, oil replacement cycle, application, and region. Based on lubricant type, the market is further segmented into gear oils, greases, and hydraulic fluids. In terms of major turbine component, the market can be classified into gear box, generator, and others. In terms of oil replacement cycle, the lubricants for wind turbine market can be bifurcated into 6-12 months and 12 months & above. In terms of application, the market can be divided into onshore and offshore.
Geographically, the lubricants for wind turbine market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific is expected to dominate the global market during the forecast period. This growth can be attributed to initiatives taken by governments to encourage renewable power generation in the region. Favorable regulatory norms in North America and Europe are projected to create opportunities for the lubricants for wind turbine market in these regions. The wind turbine lubricant market in Middle East & Africa and Latin America is expected to expand significantly in the near future owing to the rise in investments to explore the potential of offshore wind energy sector.
Key players operating in the lubricants for wind turbine market include Amsoil, Castrol, Shell, Exxon Mobil, Evonik Industries, PETRONAS, Petro China, OKS Spezialschmierstoffe GmbH, Suzlon, Klüber Lubrication, and CNOOC.