Surging adoption of wind energy as a renewable energy source is a key market driver

Wind turbines require routine maintenance to ensure the smooth functioning of the machinery for power generationThus, regular lubrication is highly essential for wind turbine maintenance. One of the most significant components of the wind turbine that is exposed to strong winds is the gearbox, which is usually located 300 feet high. The gearbox needs to be lubricated frequently to enhance its ability to withstand harsh environmental conditions like extreme temperatures and corrosion caused by saltwater exposure. Besides the gearbox, lubricants are essential for various other parts of a wind turbine, including the generator, main shaft, blades, pitch drives, and the yaw drive, to ensure their optimum performance and extend their life. The most widely used lubricants for wind turbines are gear oils, greases, and hydraulic fluids. The American oil industry major, Mobil, is known for its wide array of engine oils and lubricants. Its extensive line of wind turbine lubricants, known as Mobil™ SHC synthetic oils and greases, help accelerate wind turbine rotational speed and deliver optimal oil performance in various conditions, including offshore, onshore, and wet or dry conditions. 

lubricants-for-wind-turbine-market

The global lubricants for wind turbine market has gained massive traction over the past decade. Rising concerns regarding natural resource conservation and harmful greenhouse gas emissions have resulted in the extensive adoption of wind energy as a highly renewable source of energy for electricity generation. This, in turn, has boosted the wind power industry, thereby elevating the demand for wind turbine lubricantsThe increasing installation of wind turbines, the booming wind energy sector, rapidly growing population, surging demand for electricity and power, fast-paced industrialization, rapid urbanization, and the growing government initiatives towards green power generation are the other key propellers for the global market expansion. However, the COVID-19 pandemic, which hit in at the start of this year, has brought about major disruptions in the wind energy sector by causing a long-term halt in global industrial activities due to the pandemic-induced lockdown. Thus, it has resulted in a considerable dip in demand for wind turbine lubricants, causing the global lubricants for the wind turbine market to lose pace.  


The global lubricants for wind turbine market is majorly concentrated in the Asia Pacific region. Market growth in this region is mainly attributed to the burgeoning demand for electricity, increasing populace, speedy industrialization, increasing government initiatives to promote renewable power generation, and hefty investments in the region’s offshore wind energy sectorFor instance, the Renewable Energy Target (RET) is the Australian Government’s latest scheme designed to curb greenhouse gas emissions in the energy sector. With this program, the country aims to produce at least 20% of its electricity from renewable sources. Castrol, Exxon Mobil, Shell, Amsoil, Total, Petro China, Evonik Industries, Kl├╝ber Lubrication, Suzlon, CNOOCPETRONAS, and OKS Spezialschmierstoffe GmbH are some of the key market contendersThese companies have adopted key business strategies, such as new product launches, partnerships, and acquisitions, to expand their market presence. In October 2020, the leading Danish wind turbine company, Vestas Wind Systems, launched a new wind turbine variant, V155-3.3MW, which is optimized for India’s low and ultra-low wind conditions.  


Read full press release at: https://www.reportsanddata.com/press-release/global-lubricants-for-wind-turbine-market

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