The continued growth in wind power is good news for the lubricants industry and is becoming more competitive.
Wind turbine blades ready for installation Image: Vaxomatic |
The positive news comes from the latest Kline report - Lubricants for Wind Turbines 2011: Global Market Analysis and Opportunities - which predicts a continued, steady growth in global wind energy of between nine and 18% over the next five years. Although slower than the 27% increase since 2002, the news is good for the lubricants industry that serves the wind turbine industry.
In fact, according to the report, the lubes market is set to become more competitive as emerging suppliers tap into the service fill market, aiming at wind farm operators and maintenance providers for operational turbines, although the overall size of the market remains small in comparison to total global lubes volumes.
Because of the high stress levels caused by turbine gears, as well the 'green' element of wind power, the sector attracts high volumes of synthetics - around 80% according to Kline - or biolubes and greases.