- Press Releases
(SeeNews) - Mar 9, 2012 - The market for lubricants for wind power applications is to expand at a compound annual growth rate of between 9% and 18% in the coming five years, Kline & Co projects.
In its report Wind Turbines 2011: Global Market Analysis and Opportunities, the research company points out that despite its small overall volume, the market for lubricants used in wind energy is rather attractive due to its high growth and solid margins.
Demand for lubricants has been driven by a surge in wind power installations in the past years. According to Kline's report, installed wind power capacity around the globe has grown at an average annual rate of some 27% for the past decade. Even though some key markets such as Germany are turning to low lubricant-consuming direct-drive wind power equipment, the huge capacity growth is keeping demand for wind energy lubricants at steady levels. In addition, lubricant products for the wind power sector have found applications in other areas where micro-pitting and scuffing resistance is of high importance, Kline said.