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Europe Wind Turbine Lubricant Market Forecast to 2028 - Regional Analysis - by Base Oil (Mineral Oil, Synthetic, and Bio-Based) and Product Type (Grease, Gear Oil, Hydraulic Oil, and Others)

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    Report

  • 152 Pages
  • October 2023
  • Region: Europe
  • The Insight Partners
  • ID: 5912402
The Europe wind turbine lubricant market is expected to grow from US$ 46.85 million in 2022 to US$ 84.58 million by 2028. It is estimated to grow at a CAGR of 10.3% from 2022 to 2028.

Government Initiatives for Development of Wind Energy Sector Fuels Europe Wind Turbine Lubricant Market.

A growing focus on reducing carbon dioxide emissions is increasing the utilization of renewable energy sources. Renewable energy offers various advantages, such as less global warming, inexhaustible energy, increased reliability and resilience, etc. Hence, with the increased utilization of renewable energy, wind energy is becoming a vital energy system in many countries. Governments of various countries are taking initiatives for the development of the wind energy sector. For instance, the German Offshore Wind Initiative. Under this, the Federal Ministry of Economics and Climate Protection in Germany will provide funding for this project over three years to assist German enterprises in the offshore wind energy industry in expanding their exports to the three target countries with the fastest rates of growth:

Japan, Taiwan, and the United States. Also, In February 2022, France's President announced that by the year 2050, the country would construct 50 offshore wind energy farms with a total installed capacity of at least 40 GW. Hence, such government initiatives for the development of the wind energy sector results in more installations of wind turbines, which drives the demand for wind turbine lubricants.

Europe Wind Turbine Lubricant Market Overview

The Europe wind turbine lubricants market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe (Sweden, Finland, etc.). Various countries in the region are harnessing technological capabilities to achieve their sustainability goals. As seen in the figure below, in 2022, new wind installations in Europe totaled 19.1 GW (16.7 GW onshore and 2.5 GW offshore), recording an increase of 4% compared with 2021.

According to WindEurope, Europe invested EUR 41 billion (US$ 45.07 billion) in new wind farms in 2021, which included the financing of 25 GW of new capacity. Moreover, the region invested EUR 17 billion (US$ 18.69 billion) in new wind farms in 2022, down from EUR 41 billion in 2021 and the lowest investment figure since 2009. The European wind industry suffers from higher input costs and supply chain disruptions. Moreover, the Russia-Ukraine war amplified challenges associated with raw material cost volatility and international shipping. As a result, the cost of producing a wind turbine in Europe has increased by up to 40% in the last two years. Thus, investments in the wind energy sector dropped in 2022 across Europe, which also hampered the wind turbine lubricants market in the region.

Europe Wind Turbine Lubricant Market Revenue and Forecast to 2028 (US$ Million)

Europe Wind Turbine Lubricant Market Segmentation

The Europe wind turbine lubricant market is segmented into base oil, product type, and country.

Based on base oil, the Europe wind turbine lubricant market is segmented into mineral oil, synthetic, and bio-based. The synthetic oil segment held the largest share of the Europe wind turbine lubricant market in 2022.

Based on product type, the Europe wind turbine lubricant market is segmented into grease, gear oil, hydraulic oil, and others. The gear oil segment held the largest share of the Europe wind turbine lubricant market in 2022.

Based on country, the Europe wind turbine lubricant market is segmented into the Germany, France, Italy, UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe wind turbine lubricant market in 2022.

TotalEnergies SE, BP Plc, Chevron Corp, Exxon Mobil Corp, Fuchs Petrolub SE, Kluber Lubrication GmbH & Co KG, Phillips 66, Shell plc, The Lubrizol Corp, Afton Chemical Corp, and AMSOIL Inc are some of the leading companies operating in the Europe wind turbine lubricant market.

Table of Contents

1. Introduction
1.1 Study Scope
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Europe Wind Turbine Lubricants Market, by Base Oil
1.3.2 Europe Wind Turbine Lubricants Market, by Product Type
1.3.3 Europe Wind Turbine Lubricants Market, by Country
2. Key Takeaways
3. Research Methodology
3.1 Scope of the Study
3.2 Research Methodology
3.2.1 Data Collection:
3.2.2 Primary Interviews:
3.2.3 Hypothesis formulation:
3.2.4 Macro-economic factor analysis:
3.2.5 Developing base number:
3.2.6 Data Triangulation:
3.2.7 Country level data:
4. Europe Wind Turbine Lubricants Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Wind Turbine Lubricants Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Installed Wind Capacity
5.1.2 Government Initiatives for Development of Wind Energy Sector
5.2 Market Restraint
5.2.1 Fluctuations in Prices of Raw Materials
5.3 Market Opportunity
5.3.1 Offshore Wind Energy Expansion in Europe
5.4 Future Trend
5.4.1 Rising Focus of Manufacturers on Developing Bio-based Lubricants
5.5 Impact Analysis
6. Wind Turbine Lubricants - Europe Market Analysis
6.1 Europe Wind Turbine Lubricants Market Overview
6.2 Europe Wind Turbine Lubricants Market -Volume and Forecast to 2028 (Tons)
6.3 Europe Wind Turbine Lubricants Market -Revenue and Forecast to 2028 (US$ Million)
7. Europe Wind Turbine Lubricants Market Analysis - By Base Oil
7.1 Overview
7.2 Europe Wind Turbine Lubricants Market, By Base Oil (2021 and 2028)
7.3 Mineral Oil
7.3.1 Overview
7.3.2 Mineral Oil: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
7.4 Synthetic
7.4.1 Overview
7.4.2 Synthetic: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
7.5 Bio-Based
7.5.1 Overview
7.5.2 Bio-Based: Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
8. Europe Wind Turbine Lubricants Market Analysis - By Product Type
8.1 Overview
8.2 Europe Wind Turbine Lubricants Market, By Product Type (2021 and 2028)
8.3 Grease
8.3.1 Overview
8.3.2 Grease: Europe Wind Turbine Lubricants Market - Volume and Forecast to 2028 (Tons)
8.3.3 Grease: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Gear Oil
8.4.1 Overview
8.4.2 Gear Oil: Europe Wind Turbine Lubricants Market - Volume and Forecast to 2028 (Tons)
8.4.3 Gear Oil: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Hydraulic Oil
8.5.1 Overview
8.5.2 Hydraulic Oil: Europe Wind Turbine Lubricants Market - Volume and Forecast to 2028 (Tons)
8.5.3 Hydraulic Oil: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Europe Wind Turbine Lubricants Market - Volume and Forecast to 2028 (Tons)
8.6.3 Others: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
9. Europe Wind Turbine Lubricants Market - Country Analysis
9.1 Europe: Wind Turbine Lubricants Market
9.1.1 Europe: Wind Turbine Lubricants Market, by Key Country
9.1.1.1 Germany: Wind Turbine Lubricants Market-Volume and Forecast to 2028 (Tons)
9.1.1.2 Germany: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Germany: Wind Turbine Lubricants Market, by Base Oil
9.1.1.2.2 Germany: Wind Turbine Lubricants Market, by Product Type
9.1.1.2.3 Germany: Wind Turbine Lubricants Market, by Product Type
9.1.1.3 France: Wind Turbine Lubricants Market-Volume and Forecast to 2028 (Tons)
9.1.1.4 France: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 France: Wind Turbine Lubricants Market, by Base Oil
9.1.1.4.2 France: Wind Turbine Lubricants Market, by Product Type
9.1.1.4.3 France: Wind Turbine Lubricants Market, by Product Type
9.1.1.5 Italy: Wind Turbine Lubricants Market-Volume and Forecast to 2028 (Tons)
9.1.1.6 Italy: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Italy: Wind Turbine Lubricants Market, by Base Oil
9.1.1.6.2 Italy: Wind Turbine Lubricants Market, by Product Type
9.1.1.6.3 Italy: Wind Turbine Lubricants Market, by Product Type
9.1.1.7 United Kingdom: Wind Turbine Lubricants Market-Volume and Forecast to 2028 (Tons)
9.1.1.8 United Kingdom: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
9.1.1.8.1 United Kingdom: Wind Turbine Lubricants Market, by Base Oil
9.1.1.8.2 United Kingdom: Wind Turbine Lubricants Market, by Product Type
9.1.1.8.3 United Kingdom: Wind Turbine Lubricants Market, by Product Type
9.1.1.9 Russia: Wind Turbine Lubricants Market-Volume and Forecast to 2028 (Tons)
9.1.1.10 Russia: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
9.1.1.10.1 Russia: Wind Turbine Lubricants Market, by Base Oil
9.1.1.10.2 Russia: Wind Turbine Lubricants Market, by Product Type
9.1.1.10.3 Russia: Wind Turbine Lubricants Market, by Product Type
9.1.1.11 Rest of Europe: Wind Turbine Lubricants Market - Volume and Forecast to 2028 (Tons)
9.1.1.12 Rest of Europe: Wind Turbine Lubricants Market -Revenue and Forecast to 2028 (US$ Million)
9.1.1.12.1 Rest of Europe: Wind Turbine Lubricants Market, by Base Oil
9.1.1.12.2 Rest of Europe: Wind Turbine Lubricants Market, by Product Type
9.1.1.12.3 Rest of Europe: Wind Turbine Lubricants Market, by Product Type
10. Industry Landscape
10.1 Overview
10.2 Expansion
10.3 Partnerships
11. Company Profiles
11.1 TotalEnergies SE
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 BP Plc
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Chevron Corp
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Exxon Mobil Corp
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Fuchs Petrolub SE
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Kluber Lubrication GmbH & Co KG
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Phillips
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Shell Plc
11.8.1 Key Facts
11.8.2 Business Description
Products and Services
11.8.3 Financial Overview
11.8.4 SWOT Analysis
11.8.5 Key Developments
11.9 The Lubrizol Corp
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Afton Chemical Corp
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
11.11 AMSOIL Inc
11.11.1 Key Facts
11.11.2 Business Description
11.11.3 Products and Services
11.11.4 Financial Overview
11.11.5 SWOT Analysis
11.11.6 Key Developments
12. Appendix
12.1 About the Publisher
12.2 Glossary of Terms
List of Tables
Table 1. Europe Wind Turbine Lubricants Market -Volume and Forecast to 2028 (Tons)
Table 2. Europe Wind Turbine Lubricants Market -Revenue and Forecast to 2028 (US$ Million)
Table 3. Germany Wind Turbine Lubricants Market, by Base Oil - Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany Wind Turbine Lubricants Market, by Product Type -Volume and Forecast to 2028 (Tons)
Table 5. Germany Wind Turbine Lubricants Market, by Product Type - Revenue and Forecast to 2028 (US$ Million)
Table 6. France Wind Turbine Lubricants Market, by Base Oil - Revenue and Forecast to 2028 (US$ Million)
Table 7. France Wind Turbine Lubricants Market, by Product Type -Volume and Forecast to 2028 (Tons)
Table 8. France Wind Turbine Lubricants Market, by Product Type - Revenue and Forecast to 2028 (US$ Million)
Table 9. Italy Wind Turbine Lubricants Market, by Base Oil - Revenue and Forecast to 2028 (US$ Million)
Table 10. Italy Wind Turbine Lubricants Market, by Product Type -Volume and Forecast to 2028 (Tons)
Table 11. Italy Wind Turbine Lubricants Market, by Product Type - Revenue and Forecast to 2028 (US$ Million)
Table 12. United Kingdom Wind Turbine Lubricants Market, by Base Oil - Revenue and Forecast to 2028 (US$ Million)
Table 13. United Kingdom Wind Turbine Lubricants Market, by Product Type -Volume and Forecast to 2028 (Tons)
Table 14. United Kingdom Wind Turbine Lubricants Market, by Product Type - Revenue and Forecast to 2028 (US$ Million)
Table 15. Russia: Wind Turbine Lubricants Market, by Base Oil- Revenue and Forecast to 2028 (US$ Million)
Table 16. Russia: Wind Turbine Lubricants Market, by Product Type -Volume and Forecast to 2028 (Tons)
Table 17. Russia: Wind Turbine Lubricants Market, by Product Type - Revenue and Forecast to 2028 (US$ Million)
Table 18. Rest of Europe Wind Turbine Lubricants Market, by Base Oil - Revenue and Forecast to 2028 (US$ Million)
Table 19. Rest of Europe Wind Turbine Lubricants Market, by Product Type - Volume and Forecast to 2028 (Tons)
Table 20. Rest of Europe Wind Turbine Lubricants Market, by Product Type - Revenue and Forecast to 2028 (US$ Million)
Table 21. Glossary of Terms, Europe Wind Turbine Lubricants Market
List of Figures
Figure 1. Europe Wind Turbine Lubricants Market Segmentation
Figure 2. Europe Wind Turbine Lubricants Market Segmentation - By Country
Figure 3. Europe Wind Turbine Lubricants Market Overview
Figure 4. Europe Wind Turbine Lubricants Market, By Base Oil
Figure 5. Europe Wind Turbine Lubricants Market, by Country
Figure 6. Porter's Five Forces Analysis
Figure 7. Ecosystem: Europe Wind Turbine Lubricants Market
Figure 8. Expert Opinion
Figure 9. Historic Development of New Installations (GW)
Figure 10. Europe Wind Turbine Lubricants Impact Analysis of Drivers and Restraints
Figure 11. Europe Wind Turbine Lubricants Market - Volume and Forecast to 2028 (Tons)
Figure 12. Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
Figure 13. Europe Wind Turbine Lubricants Market Revenue Share, By Base Oil (2021 and 2028)
Figure 14. Mineral Oil: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
Figure 15. Synthetic: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. Bio-Based: Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. Europe Wind Turbine Lubricants Market Revenue Share, By Product Type (2021 and 2028)
Figure 18. Grease: Europe Wind Turbine Lubricants Market - Volume and Forecast To 2028 (Tons)
Figure 19. Grease: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. Gear Oil: Europe Wind Turbine Lubricants Market - Volume and Forecast To 2028 (Tons)
Figure 21. Gear Oil: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
Figure 22. Hydraulic Oil: Europe Wind Turbine Lubricants Market - Volume and Forecast To 2028 (Tons)
Figure 23. Hydraulic Oil: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Others: Europe Wind Turbine Lubricants Market - Volume and Forecast To 2028 (Tons)
Figure 25. Others: Europe Wind Turbine Lubricants Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. New Onshore and Offshore Wind Installations in Europe
Figure 27. New Wind Installations in Europe, by Country (2022)
Figure 28. Europe Wind Turbine Lubricants Market, by Key Country - Revenue (2021) (US$ Million)
Figure 29. Europe: Wind Turbine Lubricants Market Revenue Share, by Key Country (2021 and 2028)
Figure 30. Germany: Wind Turbine Lubricants Market-Volume and Forecast to 2028 (Tons)
Figure 31. Germany: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
Figure 32. France: Wind Turbine Lubricants Market-Volume and Forecast to 2028 (Tons)
Figure 33. France: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
Figure 34. Italy: Wind Turbine Lubricants Market-Volume and Forecast to 2028 (Tons)
Figure 35. Italy: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
Figure 36. United Kingdom: Wind Turbine Lubricants Market-Volume and Forecast to 2028 (Tons)
Figure 37. United Kingdom: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
Figure 38. Russia: Wind Turbine Lubricants Market- Volume and Forecast to 2028 (Tons)
Figure 39. Russia: Wind Turbine Lubricants Market-Revenue and Forecast to 2028 (US$ Million)
Figure 40. Rest of Europe: Wind Turbine Lubricants Market - Volume and Forecast to 2028 (Tons)
Figure 41. Rest of Europe: Wind Turbine Lubricants Market -Revenue and Forecast to 2028 (US$ Million)

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • TotalEnergies SE
  • BP Plc
  • Chevron Corp
  • Exxon Mobil Corp
  • Fuchs Petroblub SE
  • Kluber Lubrication GmbH& Co KG
  • Phillips 66
  • Shell Plc
  • The Lubrizol Corp
  • Afton Chemical Corp
  • AMSOIL Inc

Table Information