Global lubricant demand for wind energy is likely to hit a speed bump in the current economic climate but should rebound in subsequent years, an industry consultant said in a recent webinar. A key market remains China, which is expected to account for nearly half of all new wind turbine capacity over the next five years.
Kline & Co.’s projected outlook for lubricant demand in wind energy from anticipates that the market will be hurt by the economic contraction resulting from the COVID-19 pandemic under both optimistic and pessimistic projections. “Almost all scenarios suppose a downfall, a slump in consumption for lubricants used in wind energy by 2021, followed by a sharp ‘V’ recovery for the next few years,” Gabriel Tarle, a project lead in Kline’s energy practice, said during a webinar about the outlook for wind turbine lubricants demand in the current economic environment. The company published a study on the topic in May.