At 7.3% CAGR, the Middle & East Africa Wind Turbine Lubricant Market is projected to be worth US$ 4.13 million by 2028, says Business Market Insights

According to Business Market Insights research, the Middle & East Africa wind turbine lubricant market was valued at US$ 2.71 million in 2022 and is expected to reach US$ 4.13 million by 2028, registering a CAGR of 7.3% from 2022 to 2028. Rising focus of manufacturers on developing bio-based lubricants is the critical factor attributed to the Middle & East Africa wind turbine lubricant market expansion.       

In recent years, there has been an increasing interest among manufacturers to produce lubricants from bio-based sources. The use of biodegradable lubricants helps to avoid disastrous consequences in the case of accidental spillages. Oil leaks from wind turbines pollute the soil and water. In wind turbines, many lubricants such as oils and greases are based on mineral oils that cause pollution if they leak. If these lubricants are leaked into the sea, the clean-up process is challenging. However, oil leaks can be avoided by using bio-based lubricants, as they cause no pollution and degrade naturally if they leak. Lubricants are required in various applications in a wind turbine, such as in bearings, couplings, and gears, as well as in hydraulic systems. In these components and systems, the use of effective alternatives with low environmental impact, such as bio-based lubricants with a wide temperature range, ensures reliable operation. The use of bio-based lubrication products for wind turbines is beneficial in the analysis of environmental consequences. As a result, manufacturers are focusing on developing reliable products with an extended service interval and a low ecological footprint. Hence, the development of bio-based lubricants is expected to fuel the wind turbine lubricants market growth during the forecast period.

On the contrary, fluctuations in prices of raw materials hampers the Middle East & Africa wind turbine lubricant market. 

Based on base oil, the Middle & East Africa wind turbine lubricant market is segmented into mineral oil, synthetic oil, and bio-based oil. The synthetic oil segment held 63.6% share of Middle & East Africa wind turbine lubricant market in 2022, amassing US$ 1.72 million. It is projected to garner US$ 2.66 million by 2028 to expand at 7.5% CAGR during 2022–2028. 

Based on product type, the Middle & East Africa wind turbine lubricant market is segmented into grease, gear oil, hydraulic oil, and others. The gear oil segment held 61.5% share of Middle & East Africa wind turbine lubricant market in 2022, amassing US$ 1.67 million. It is projected to garner US$ 2.63 million by 2028 to expand at 7.9% CAGR during 2022–2028.

Based on country, the Middle & East Africa wind turbine lubricant market has been categorized into the South Africa, Saudi Arabia, UAE, and Rest East & Africa. Our regional analysis states that South Africa captured 41.2% share of Middle & East Africa wind turbine lubricant market in 2022. It was assessed at US$ 1.12 million in 2021 and is likely to hit US$ 1.77 million by 2028, exhibiting a CAGR of 8.0% during 2022–2028.

Key players operating in the Middle & East Africa wind turbine lubricant market are TotalEnergies SE, BP Plc, Phillips 66, Amsoil Inc, Chevron Corp, Exxon Mobil Corp, Fuchs Petrolub SE, Kluber Lubrication GmbH & Co KG, Shell plc, The Lubrizol Corp, and Afton Chemical Corp, among others.   

• In 2022, TotalEnergies established a partnership with SANY to launch lubricant solutions in the Middle East & Africa market and initiating cooperation in the Middle East & Africa market will strongly strengthen the partnership.
• In 2022, BP PLC established a partnership with Marubeni to explore offshore wind development opportunity in Japan. BP PLC will join Marubeni off the coast in Japan as specified in the agreement. Also, the company will establish a local offshore wind development team in Tokyo associating with this agreement.

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