Increasing Number of
Wind Turbine Installations Is Anticipated to Increase Demand for Wind
Turbine Gear Oil
The IEA reports that in 2021,
wind electricity generation climbed by a record 273 TWh (up 17%). This was
55% higher than in 2020, and it was the highest among all renewable energy
technologies. Wind turbine gear oil usage is affected by factors such as new
turbine installations and oil replacement frequency. Wind turbine gear oil is
expected to be driven by the growing number of wind farms in Europe, China, and
North America. According to the World Wind Energy Association,
global offshore wind installations set a new high in 2021, with 17,398 MW
of new capacity added, bringing total global installed capacity to 50,623 MW
from 257 projects. Government-led investments in new wind farm projects have
intensified due to the necessity of achieving the goals of the Paris Climate
Change Agreement and the Goals for Sustainable Development. Wind farm capacity
expansion and an increase in the number of wind farm projects globally are
likely to boost the market for wind turbines, driving significant demand for
wind turbine gear oil.
Emergence of Digital Wind Farms Is Expected
to Have A Favourable Influence in The Coming Years
A huge wind farm can consist
of hundreds of wind turbines spread out across hundreds of miles. The digital
wind farm is a newly presented invention. The digital wind farm is an
all-in-one hardware and software solution that includes wind turbine components
as well as supporting systems. The digital wind farm's software allows users to
gather, visualise, and analyse unit and site-level data. A predictive model is
formed by the continuous collecting of this data, and data is translated into
actual insights. Data from digital wind farms may be utilised to provide
predictable electricity outputs and optimise wind farm performance. Wind
turbine condition monitoring systems provide wind turbine drivetrains with
integrated condition monitoring processing. They may be installed on any type
of wind turbine. Wind turbine condition monitoring devices detect gearbox
problems early. The establishment of digital wind farms is anticipated over the
forecast period as they assist in optimising the development of effective
turbines.
Mineral-Based Gear
Oils Are Crucial to Improve Gearbox Performance
In 2022, mineral-based gear oil
held the biggest proportion of the wind turbine gear oil market. Compared to
other gear oils, the mineral-based gear oil allows the gearbox to function
effectively for a longer period of time with fewer maintenance required. Though
mineral-based gear oils are not environmentally friendly, when combined with a
substantial quantity of additives, they can help to make up for the lack of
inherent base fluid properties such as wear protection, load carrying
capacity, oxidation stability, low temperature solidification, and
viscosity drop at higher temperatures. Wind energy accounted for around 9.2% of
total U.S. electricity production and approximately 46% of renewable energy
generation in 2021, according to the Energy Information Administration.
According to the IEA, on-shore wind additions will expand from 74 GW in
2021 to 109 GW in 2027. These figures indicate that the sector will expand as a
reliable source of energy in the long run. Thus, mineral-based gear oils are
mostly used in wind turbines to solve different challenges.
Introduction of Gearless
Wind Turbines Will Provide A Significant Threat to The Wind Turbine Gear Oil
Industry Over the Forecast Period
Extensive R&D has resulted in
the invention of novel technology in wind turbines known as direct drive
generators. These types of generators eliminate the complications caused by
gearboxes. Direct drive generators operate without the use of gears. The
rotating component and generator rotate as one unit. Direct drive
generators are more efficient, reliable, and durable than traditional generators,
and therefore require less maintenance. Although this new technology increases
turbine dependability, it has downsides such as high cost, weight and
size. These generators are intended to replace traditional generators,
primarily in offshore wind turbines, due to their require less maintenance. The
emergence of gearless wind turbines has posed a major threat to the
global wind turbine gear oil industry, as gearless wind turbines can
operate without gear oil.
In March 2022, General Electric
company shows a prototype of a recyclable wind turbine blade made from a
high-performance glass material made from a unique resin developed by a French
company. Wind turbine blades, on the other hand, are formed of carbon, a
non-renewable resource.
Zhejiang Windey Co. released the
world's largest wind turbine model in March 2021, with an area of 24000 m2 and
an average wind speed of 7 m/s. The yearly equivalent hours exceed 3,500 hours,
allowing for exceptional power generating performance.
Exxon Mobil Corporation, Croda
International Plc, Castrol Limited, The Lubrizol Corporation, Klüber
Lubrication NA LP, Neste Oyj, LUBRITA Europe B.V., Petro-Canada Lubricants Inc.,
Evonik Industries AG and Total S.A. are some of the prominent market players
operating in the global wind turbine gear oil market.
China Is Expected to
Continue with Its Market Dominance in Wind Turbine Gear Oil
The market for gear oil for wind
turbines dominated by the Asia Pacific region in 2022. The Asia-Pacific
region includes all of the main countries, like China, India, and Japan.
According to the Global Wind Energy Council, China is anticipated to maintain
its dominance in Asian offshore wind turbine energy with a market share of more
than 70%. However, due to recent advancements in emerging markets such as
Taiwan, Japan, Vietnam, South Korea, and India, China's market share would
decline by 2025. In 2021, China produced 466.5 terawatt hours (TWh) of wind
energy, or more than 29% of the total 1,596.4 TWh produced worldwide, according
to World Population Review. This makes China the world's largest producer of
wind energy. The wind turbine's speed is also affected by local weather
conditions. As a result, Asia-Pacific is one of the most suitable regions for
establishing a wind turbine, and it is the most significant market for wind
turbine gear oil.
The report provides a detailed overview of the wind turbine gear oil market insights in regions including North America, Latin America, Europe, Asia-Pacific, Oceania, and the Middle East and Africa. The country-specific assessment for wind turbine gear oil market has been offered for all regional market share, along with forecasts, market scope estimates, price point assessment, and impact analysis of prominent countries and regions. Throughout this market research report, Y-o-Y growth and CAGR estimates are also incorporated for every country and region, to provide a detailed view of the wind turbine gear oil market. These Y-o-Y projections on regional and country-level markets brighten the political, economic and business environment outlook, which are anticipated to have a substantial impact on the growth of the wind turbine gear oil market. Some key country and region included in the wind turbine gear oil market report as follows:
North America (U.S., Canada)
Latin America (Mexico, Argentina,
Brazil, Peru, Chile)
Europe (Germany, France, Italy, U.K.,
BENELUX, Nordics, Spain, Poland, Russia, CIS)
Asia Pacific (China, ASEAN, India,
Japan, South Korea)
Oceania (Australia, New Zealand)
Middle East and Africa (South
Africa, GCC Countries, Turkey, Israel, Iran)
The Wind Turbine Gear Oil Market Research
Report Covers In-depth Analysis on:
·
Wind turbine gear oil market segments
·
Wind turbine gear oil market dynamics
·
Wind turbine gear oil market value and share
analysis
·
Recent trends, restraints, opportunities in wind
turbine gear oil market
·
Companies & competition involved wind
turbine gear oil market
·
Latest technologies in wind turbine gear oil
market
·
Supply chain and value chain wind turbine gear
oil market
·
Wind turbine gear oil market sales and
distribution strategies
Wind Turbine Gear Oil Market Growth
Highlights:
·
A comprehensive overview of parent market
·
Market dynamics, demand and trends in the
industry
·
Current, historical and anticipated market size in
terms of volume
·
In-depth market segmentation
·
Competition landscape
·
Key strategies of leading companies and product
portfolio
·
Wind turbine gear oil industry trends and developments
·
Potential and country, regions and segments
exhibiting future growth
·
A detailed viewpoint on wind turbine gear oil market
forecast by countries
·
Essential information to enhance market position
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