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Wind Turbine Gear Oil Market: Global Opportunity Analysis and Industry Forecast, 2020–2027
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Wind turbine gear oil is a special category of superior quality lubricant used to ensure the performance of the movable parts of a wind turbine such as the gear box and other bearings by reducing friction and protecting the metal surfaces from corrosion. These lubricants exhibit a high viscosity index, which implies that the viscosity does not change with temperature. Several additives such as anti-scuffing and anti-foaming are used in the production of wind turbine gear oils for better performance in extreme conditions. Synthetic gear oils are found to be superior as compared mineral-based oils for qualities such as low pour point. The pour point is the lowest temperature at which the oil flows normally, and thus a lower pour point of the lubricant enables the turbine to work in extreme cold conditions.
Market scope and structure analysis
Report Metric | Details |
Market size available for years | 2019–2027 |
Base year considered | 2019 |
Forecast period | 2020–2027 |
Forecast unit | Value (USD) |
Segments covered | Components, Type, Application, and Region |
Regions covered | North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and Latin America (Brazil, Mexico, and the Rest of LATAM), and the Middle East &Africa |
Companies covered | AMSOIL Inc., Royal Dutch Shell Plc., Exxon Mobil Corporation, Freudenberg Group, Castrol Ltd., TOTAL S.A., and HollyFrontier Corporation |
COVID-19 scenario analysis
The outbreak of the novel coronavirus pandemic across the globe has severely affected the global wind turbine gear oil market.
- Nationwide lockdown and the stringent government regulations imposed on maintaining social distancing have halted production and manufacturing in several industries. This has significantly reduced the demand for energy, which, in turn, has negatively impacted the growth of the wind energy market. This has consequently led to an adverse effect on the global wind turbine gear oil market.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
Increase in usage of wind turbines for power generation and surge in need for optimizing their performance and durability have driven the growth of the global wind turbine gear oil market. The gear oil used in wind turbines helps in reducing the friction between the movable parts, enhances the efficiency, dissipates the heat, and protects the metal surfaces from corrosion. With the wind farms increasing their capacity and surge in number of wind energy projects across the world, the wind turbine gear oil in the global market is anticipated to witness significant growth opportunities during the forecast period.
Furthermore, the manufacturers of wind turbine gear oil are investing more on the research and development for producing gear oils with better specifications to ensure superior performance and extended life. Presently, the manufacturers are shifting their preference form mineral oil to synthetic gear oils such as poly-alpha olefin-based and poly-alkylene glycol-based gear oils.
Presently, North America is leading the wind turbine gear oil market, in terms of manufacturing and consumption, followed by Europe. Asia-Pacific is anticipated to witness a steady growth rate, owing to rise in focus on renewable energy sources in emerging economies.
Key segments covered
Segment | Subsegment |
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Key benefits of the report
- This study presents the analytical depiction of the global wind turbine gear oil industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global wind turbine gear oil market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global wind turbine gear oil market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global wind turbine gear oil market research report:
- Which are the leading market players active in the wind turbine gear oil market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
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