At 10.1% CAGR, the North America Wind Turbine Lubricant Market is projected to be worth US$ 69.50 million by 2028, says Business Market Insights

According to Business Market Insights research, the North America wind turbine lubricant market was valued at US$ 39.10 million in 2022 and is expected to reach US$ 69.50 million by 2028, registering a CAGR of 10.1% from 2022 to 2028. Increasing offshore wind energy potential and government initiatives for development of wind energy sector are the critical factors attributed to the North America wind turbine lubricant market expansion. 

Offshore wind energy in North America represents a significant opportunity for the wind energy sector and the associated lubricant market. With extensive coastlines along the Atlantic Ocean, Pacific Ocean, and the Great Lakes, the region has a vast untapped potential for offshore wind energy projects. The US, in particular, is actively exploring this potential, with several noteworthy projects underway. One example is the Vineyard Wind Project off the coast of Massachusetts, which is expected to be the US’s first large-scale offshore wind farm, with a capacity of over 800 MW. Additionally, the South Fork Wind Farm, also off the coast of Massachusetts, is set to provide clean energy to the Long Island region. On the West Coast, the Pacific has a great offshore wind potential, with floating wind turbine technology being tested in California and Oregon. Canada is also making strides with projects like the Wind Energy Institute of Canada’s North Cape project in Saskatchewan. These ventures showcase the burgeoning offshore wind potential, which necessitates advanced lubrication solutions to ensure the reliability and longevity of offshore wind turbines.

On the contrary, fluctuations in prices of raw materials hampers the North America wind turbine lubricant market. 

Based on base oil, the North America wind turbine lubricant market is segmented into mineral oil, synthetic oil, and bio-based oil. The synthetic oil segment held 82.1% share of North America wind turbine lubricant market in 2022, amassing US$ 32.11 million. It is projected to garner US$ 57.72 million by 2028 to expand at 10.3% CAGR during 2022–2028. 

Based on product type, the North America wind turbine lubricant market is segmented into grease, gear oil, hydraulic oil, and others. The gear oil segment held 63.2% share of North America wind turbine lubricant market in 2022, amassing US$ 24.72 million. It is projected to garner US$ 45.47 million by 2028 to expand at 10.7% CAGR during 2022–2028.

Based on country, the North America wind turbine lubricant market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 85.8% share of North America wind turbine lubricant market in 2022. It was assessed at US$ 33.57 million in 2022 and is likely to hit US$ 60.59 million by 2028, exhibiting a CAGR of 10.3% during 2022–2028.

Key players operating in the North America wind turbine lubricant market are 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, among others.   

• In 2022, The campaign launched by TotalEnergies featuring RobotQuartz represented the engine and showed the effects of Quartz lubricants on all types of engines.
• In 2023, Technicians and researchers in collaboration with the Wind Energy Institute of Canada (WEICan) are monitoring the wind turbine lubricants. The collaborative research is aimed at creating advanced lubricants that protect equipment and keeping them running efficiently for longer.

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