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Wind Turbine Gear Oil Market to 2027 - Global Analysis and Forecasts by Product, Application

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    Report

  • 127 Pages
  • November 2019
  • Region: Global
  • The Insight Partners
  • ID: 4876883
The global wind turbine gear oil market accounted for US$. 150.1 Mn in 2018 and is expected to grow at a CAGR of 6.6% during the forecast period 2019 - 2027, to account to US$ 264.6 Mn by 2027. Wind turbine gear oil is capable of withstanding extreme contact pressures and temperatures while protecting metal parts from wear and tear due to friction. The turbine components such as turbine gear boxes are subject to heavy loads and working temperatures. They are also exposed to process debris, water, dust, and dirt. Gear oil used in wind turbine applications, therefore, needs to be specifically formulated to address high pressures and temperatures as well as eliminate contamination while remaining chemically stable. The main constituents in wind turbine gear oils are base oil, oxidant inhibitors, corrosion inhibitors, demulsifiers, and defoamants. Base oil constitutes ~97% of the total volume of the wind turbine gear oil formula. Wind turbine gear oil is used in wind turbines to lubricate turbine gear boxes, blade bearings, generator bearings, yaw and pitch drives, main shaft bearings, and hydraulic systems which is estimated to create a significant opportunity for the wind turbine gear oil market all over the globe.

Based on the product, the wind turbine gear oil market has been segmented into synthetic gear oil, mineral gear oil, and others. In 2018, synthetic gear oil accounted for the largest share of the global wind turbine oil market. Synthetic gear oil products are preferred over mineral gear oil products as they confer better chemical stability and excellent lubrication properties in extreme temperatures, and facilitate longer oil change cycles. They also prevent the formation of sludge in the gearbox and hydraulic equipment and hence are increasingly used as lubricants in the wind turbine industry. The growing use of synthetic gear oil in turbine gear boxes to increase the gear efficiency is expected to drive the sales of synthetic gear oil and has been estimated to create an upsurge in the wind turbine gear oil market in coming years.

Growing number of wind turbine installations is driving the growth of the wind turbine gear oil market. The demand for wind turbine gear oil is dependent on factors such as new wind turbine installations and frequency of oil change. Gear oil used in wind turbines reduces friction between the meshing gears; it also helps in improving gear efficiency, dissipating heat, and protecting metal surfaces from corrosion. The growing demand for wind turbine gear oil can be attributed to installations of new wind turbines in offshore and onshore projects, and periodic change of oil in the gear boxes and other turbine components. The growing capacity of wind farms and surge in the number of wind farm projects globally are expected to drive the market for wind turbines, and consequently generate significant demand for wind turbine gear oil. It would subsequently lead to the growth of the wind turbine gear oil market growth all over the globe.

Some of the players present in global wind turbine gear oil market are AMSOIL INC., BP p.l.c. (Castrol Limited), Chevron Corporation, Exxon Mobil Corporation, Freudenberg Group, FUCHS Group, HollyFrontier Corporation (Petro-Canada Lubricants LLC), Royal Dutch Shell Plc., Schaeffer Manufacturing Co., TOTAL S.A. among others. These players are involved in the growth of wind turbine gear oil market across the globe.

The overall global wind turbine gear oil market size has been derived using both primary and secondary source. The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the wind turbine gear oil market. Also, multiple primary interviews were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the wind turbine gear oil market.

Reasons to Buy
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the global wind turbine gear oil market, thereby allowing players to develop effective long term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth the market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.

Table of Contents

1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
1.3.1 Wind Turbine Gear Oil Market, by Product
1.3.2 Wind Turbine Gear Oil Market, by Application
1.3.3 Wind Turbine Gear Oil Market, by Geography
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Wind Turbine Gear Oil Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Wind Turbine Gear Oil Market in North America: PEST Analysis
4.2.2 Wind Turbine Gear Oil Market in Europe: PEST Analysis
4.2.3 Wind Turbine Gear Oil Market in APAC: PEST Analysis
4.2.4 Wind Turbine Gear Oil Market in MEA: PEST Analysis
4.2.5 Wind Turbine Gear Oil Market in SAM: PEST Analysis
4.3 Expert Opinions
5. Wind Turbine Gear Oil Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Growing Number of Wind Turbine Installations
5.1.2 Government Support to Wind Energy Sector
5.2 Key Market Restraints
5.2.1 Rising Adoption of Direct Drive Turbines in Wind Turbine Market
5.3 Key Market Opportunities:
5.3.1 Potential of Wind Energy To Mitigate Energy Crisis in Undeveloped and Remote Areas
5.4 Key Future Trends:
5.4.1 Development of Turbine Gear Oils For Compact Gear Boxes
6. Wind Turbine Gear Oil- Global Market Analysis
6.1 Global Wind Turbine Gear Oil market overview
6.2 Global Wind Turbine Gear Oil Market Forecast And Analysis
6.3 Market Positioning
7. Global Wind Turbine Gear Oil Market Analysis - By Product
7.1 Overview
7.2 Global Wind Turbine Gear Oil Market Breakdown, By Product, 2018 & 2027
7.3 Synthetic Gear Oil
7.3.1 Overview
7.3.2 Synthetic Gear Oil Market, Revenue Forecasts to 2027 (US$ Mn)
7.4 Mineral Gear Oil
7.4.1 Overview
7.4.2 Mineral Gear Oil Market, Revenue Forecasts to 2027 (US$ Mn)
7.5 Others
7.5.1 Overview
7.5.2 Wind Turbine Gear Oil Others Segments Market, Revenue Forecast to 2027 (US$ Mn)
8. Global Wind Turbine Gear Oil Market Analysis - By Application
8.1 Overview
8.2 Global Wind Turbine Gear Oil Market Breakdown, By Application, 2018 & 2027
8.3 Onshore
8.3.1 Wind Turbine Gear Oil Market for Onshore Application, Revenue Forecast to 2027 (US$ Mn)
8.3.2 Onshore Wind Turbine Gear Oil Market Breakdown, by Geography
8.3.3 Onshore Wind Turbine Gear Oil Market Breakdown, by Country
8.4 Offshore
8.4.1 Wind Turbine Gear Oil Market for Offshore Application, Revenue Forecast to 2027 (US$ Mn)
8.4.1.1.1 Offshore Wind Turbine Gear Oil Market Breakdown, by Geography
8.4.2 Offshore Wind Turbine Gear Oil Market Breakdown, by Country
9. Geographic Analysis of Wind Turbine Gear Oil Market
9.1 Overview
9.2 North America Wind Turbine Gear Oil Market, Revenue and Forecast to 2027
9.2.1 North America Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ Mn)
9.2.2 North America Wind Turbine Gear Oil Market Breakdown, by Product
9.2.3 North America Wind Turbine Gear Oil Market Breakdown, by Country
9.2.3.1 US Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.2.3.1.1 US Wind Turbine Gear Oil Market Breakdown, by Product
9.2.3.2 Canada Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.2.3.2.1 Canada Wind Turbine Gear Oil Market Breakdown, by Product
9.2.3.3 Mexico Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.2.3.3.1 Mexico Wind Turbine Gear Oil Market Breakdown, by Product
9.3 Europe Wind Turbine Gear Oil Market, Revenue and Forecast To 2027
9.3.1 Europe Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ Mn)
9.3.2 Europe Wind Turbine Gear Oil Market Breakdown, by Product
9.3.3 Europe Wind Turbine Gear Oil Market Breakdown, by Country
9.3.3.1 Germany Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.3.3.1.1 Germany Wind Turbine Gear Oil Market Breakdown, by Product
9.3.3.2 France Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.3.3.2.1 France Wind Turbine Gear Oil Market Breakdown, by Product
9.3.3.3 Italy Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.3.3.3.1 Italy Wind Turbine Gear Oil Market Breakdown, by Product
9.3.3.4 United Kingdom Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.3.3.4.1 United Kingdom Wind Turbine Gear Oil Market Breakdown, by Product
9.3.3.5 Spain Wind Turbine Gear Oil Market Revenue Forecasts to 2027 (US$ MN)
9.3.3.5.1 Spain Wind Turbine Gear Oil Market Breakdown, by Product
9.3.3.6 Rest of Europe Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.3.3.6.1 Rest of Europe Wind Turbine Gear Oil Market Breakdown, by Product
9.4 APAC Wind Turbine Gear Oil Market, Revenue and Forecast To 2027
9.4.1 APAC Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ Mn)
9.4.2 APAC Wind Turbine Gear Oil Market Breakdown, by Product
9.4.3 APAC Wind Turbine Gear Oil Market Breakdown, by Country
9.4.3.1 Australia Wind Turbine Gear Oil Market Volume and Revenue Forecasts to 2027 (US$ MN )
9.4.3.1.1 Australia Wind turbine gear oil Market Breakdown, by Product
9.4.3.2 China Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.4.3.2.1 China Wind Turbine Gear Oil Market Breakdown, by Product
9.4.3.3 Japan Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.4.3.3.1 Japan Wind Turbine Gear Oil Market Breakdown, by Product
9.4.3.4 India Wind Turbine Gear Oil Market Volume and Revenue Forecasts to 2027 (US$ MN )
9.4.3.4.1 India Wind Turbine Gear Oil Market Breakdown, by Product
9.4.3.5 South Korea Wind Turbine Gear Oil Market Volume and Revenue Forecasts to 2027 (US$ MN )
9.4.3.5.1 South Korea Wind Turbine Gear Oil Market Breakdown, by Product
9.4.3.6 Rest of APAC Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.4.3.6.1 Rest of APAC Wind Turbine Gear Oil Market Breakdown, by Product
9.5 MEA Wind Turbine Gear Oil Market, Revenue and Forecast To 2027
9.5.1 MEA Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ Mn)
9.5.2 MEA Wind Turbine Gear Oil Market Breakdown, by Product
9.5.3 MEA Wind Turbine Gear Oil Market Breakdown, by Country
9.5.3.1 South Africa Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.5.3.1.1 South Africa Wind Turbine Gear Oil Market Breakdown, by Product
9.5.3.2 Kenya Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.5.3.2.1 Kenya Wind Turbine Gear Oil Market Breakdown, by Product
9.5.3.3 Egypt Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.5.3.3.1 Egypt Wind Turbine Gear Oil Market Breakdown, by Product
9.5.3.4 Rest of MEA Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.5.3.4.1 Rest of MEA Wind Turbine Gear Oil Market Breakdown, by Product
9.6 SAM Wind Turbine Gear Oil Market, Revenue and Forecast To 2027
9.6.1 SAM Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ Mn)
9.6.2 SAM Wind Turbine Gear Oil Market Breakdown, by Product
9.6.3 SAM Wind Turbine Gear Oil Market Breakdown, by Country
9.6.3.1 Brazil Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.6.3.1.1 Brazil Wind Turbine Gear Oil Market Breakdown, by Product
9.6.3.2 Argentina Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.6.3.2.1 Argentina Wind Turbine Gear Oil Market Breakdown, by Product
9.6.3.3 Rest of SAM Wind Turbine Gear Oil Market, Revenue and Forecast to 2027 (US$ MN)
9.6.3.3.1 Rest of SAM Wind Turbine Gear Oil Market Breakdown, by Product
10. Industry Landscape
10.1 Merger and Acquisition
10.2 Market Initiatives
10.3 New Development
10.4 Other
11. Company Profiles
11.1 Amsoil Inc.
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 p.l.c. (Castrol Limited)
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
11.3 Chevron Corporation
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
11.4 Exxon Mobil Corporation
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 Freudenberg Group
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 FUCHS Group
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 HollyFrontier Corporation (Petro-Canada Lubricants LLC)
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 Royal Dutch Shell PLC
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Schaeffer Manufacturing Co.
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
11.10 TOTAL S.A.
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
12. Appendix
12.1 About the Publisher
12.2 Glossary

Companies mentioned

  • AMSOIL INC.
  • BP p.l.c.
  • Chevron Corporation
  • Exxon Mobil Corporation
  • Freudenberg Group
  • FUCHS Group
  • HollyFrontier Corporation.
  • Royal Dutch Shell Plc.
  • Schaeffer Manufacturing Co.
  • TOTAL S.A.