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Wind Turbine Shaft Market Size, Share & Trends Growth [2031]
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Wind Turbine Shaft Market Size, Share & Trends Growth [2031]

Segments - Wind Turbine Shaft Market by Shaft Type (Generator Shaft and Main Shaft), Deployment (Off-shore and On-shore), End-user (Industrial, Commercial, and Residential), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031

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Upcoming | Report ID :EP-5128 | 4.2 Rating | 80 Reviews | 200 Pages | Format : PDF Excel PPT

Report Description


The global wind turbine shaft market size was USD XX Mn in 2022 and is likely to reach USD XX Mn by 2031, expanding at a CAGR of XX% during 2023–2031. The growth of the market is attributed to the ­­global renewable energy transition for reducing reliance on conventional energy resources.

A wind turbine has propeller-like blades that produce electricity when they rotate around the rotor to produce kinetic energy, which is then converted into electrical energy. Wind energy and solar energy are the sustainable forms of energy with cost-effective power generation capabilities.

Global Wind Turbine Shaft Market Outlook

Renewable energy practices are driven by innovation and cost-competitiveness in renewable energy production and distribution networks. Renewable energy is likely to help major economies to achieve net-zero emission goals by 2050.  

The depletion of conventional energy resources and price variations of fossil fuels caused by geopolitical conflicts and policy shifts in the oil-producing nations are accelerating the renewable energy transition. Cost-efficient renewable energy derived from wind and solar coupled with competitive battery storage costs creates a conducive atmosphere for the growth of the renewable energy sector.

Technological advancements in solar and wind energy production remained all-time high despite increased logistics costs, supply chain constraints, and rising prices of raw materials required to manufacture clean energy components. This development is characterized by the rising consumer demand for renewable energy due to cost-competitiveness and supportive government policies.

Wind Turbine Shaft Market Dynamics

Drivers

Rising consumer preference for renewable energy to achieve net-zero emissions and reduce dependency on fossil fuels are anticipated to drive the market. The depletion of fossil fuel sources and ongoing Russia-Ukraine crisis have fueled the market significantly.

Restraints

The electricity transmission limitations and high investment required for infrastructure setup is likely to hinder the market. The power generation grid needs infrastructural support to distribute the power though transmission. High investments required to set up the transmission infrastructure is a major restraint for the market.

Opportunities

Growing emphasis on renewable energy component manufacturing to reduce the final cost is expected to create multiple opportunities in the market. Component manufacturing drives the economic viability of wind power. Technological advancements in renewable energy component manufacturing are aimed at producing cost-efficient and robust energy setup, which is driving the market.

Global Wind Turbine Shaft Market Dynamics

Scope of the Wind Turbine Shaft Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Wind Turbine Shaft Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Shaft Type (Generator Shaft and Main Shaft), Deployment (Off-shore and On-shore), and End User (Industrial, Commercial, and Residential)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast

Key Players Covered in the Report

Siemens; Schaeffler AG; Suzlon Energy Limited; GENERAL ELECTRIC; ORIENT GREEN POWER COMPANY LIMITED; Sinovel Wind Group Co., Ltd.; MINGYANG SMART ENERGY; NORDEX SE; and China Guodian Corporation

Wind Turbine Shaft Market Segment Insights

Based on shaft type, the wind turbine shaft market is divided into generator shaft and main shaft. The main shaft segment is expected to expand at a significant pace during the projection period owing to its utility in producing electrical energy in an efficient and reliable manner. The main shafts produce kinetic energy by rotating the blades around the rotor to produce electrical energy.

Global Wind Turbine Shaft Market Shaft Type

On the basis of deployment, the global market is segregated into off-shore and on-shore. The off-shore segment is projected to register a considerable CAGR during the forecast period due to the function of gearbox, generator, and mover to deliver torque to generators. The driveshaft in the off-shore wind turbine energy deployment plays an important role in generating power.

In terms of end-user, the wind turbine shaft market is segmented into industrial, commercial, and residential. The industrial segment is expected to expand at a robust growth rate during the forecast period owing to the rising demand for renewable energy in the industrial sector. The industrial segment is witnessing rapid growth due to globalization and the liberalization of economies.

Global Wind Turbine Shaft Market End User

Based on region, the global wind turbine shaft market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to dominate the market during the projection period owing to the liberalization of economies and the subsequent need for clean energy sources to support industrial growth. China, India, and South Korea are emerging countries for the market in the region.

Global Wind Turbine Shaft Market Region

Segments

The wind turbine shaft market has been segmented on the basis of

Shaft Type

  • Generator Shaft
  • Main Shaft

Deployment

  • Off-shore
  • On-shore

End User

  • Industrial
  • Commercial
  • Residential

Region

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Siemens
  • Schaeffler AG
  • Suzlon Energy Limited
  • GENERAL ELECTRIC 
  • ORIENT GREEN POWER COMPANY LIMITED
  • Sinovel Wind Group Co. , Ltd.
  • MINGYANG SMART ENERGY
  • NORDEX SE
  • China Guodian Corporation

Competitive Landscape

Key players competing in the global wind turbine shaft market are Siemens; Schaeffler AG; Suzlon Energy Limited; GENERAL ELECTRIC; ORIENT GREEN POWER COMPANY LIMITED; Sinovel Wind Group Co., Ltd.; MINGYANG SMART ENERGY; NORDEX SE; and China Guodian Corporation. These companies employ growth strategies such as acquisitions, production expansion, partnerships, collaboration, product launches, and mergers to expand their presence worldwide. For instance,

  • In March 2023, The Nordex Group announced that it participated in the EoLO-HUBS project to showcase recyclable wind turbines. Wind turbine rotor blades, in a wind, turbines are made up of materials such as wood, adhesives, and composites.

Global Wind Turbine Shaft Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wind Turbine Shaft Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Wind Turbine Shaft Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Wind Turbine Shaft Market - Supply Chain
  4.5. Global Wind Turbine Shaft Market Forecast
     4.5.1. Wind Turbine Shaft Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Wind Turbine Shaft Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Wind Turbine Shaft Market Absolute $ Opportunity
5. Global Wind Turbine Shaft Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Wind Turbine Shaft Market Size and Volume Forecast by End Users
     5.3.1. Industrial
     5.3.2. Commercial
     5.3.3. Residential
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Wind Turbine Shaft Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Wind Turbine Shaft Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Wind Turbine Shaft Demand Share Forecast, 2019-2026
7. North America Wind Turbine Shaft Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Wind Turbine Shaft Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Wind Turbine Shaft Market Size and Volume Forecast by End Users
     7.4.1. Industrial
     7.4.2. Commercial
     7.4.3. Residential
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Wind Turbine Shaft Demand Share Forecast, 2019-2026
8. Latin America Wind Turbine Shaft Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Wind Turbine Shaft Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Wind Turbine Shaft Market Size and Volume Forecast by End Users
     8.4.1. Industrial
     8.4.2. Commercial
     8.4.3. Residential
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Wind Turbine Shaft Demand Share Forecast, 2019-2026
9. Europe Wind Turbine Shaft Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Wind Turbine Shaft Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Wind Turbine Shaft Market Size and Volume Forecast by End Users
     9.4.1. Industrial
     9.4.2. Commercial
     9.4.3. Residential
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Wind Turbine Shaft Demand Share Forecast, 2019-2026
10. Asia Pacific Wind Turbine Shaft Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Wind Turbine Shaft Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Wind Turbine Shaft Market Size and Volume Forecast by End Users
     10.4.1. Industrial
     10.4.2. Commercial
     10.4.3. Residential
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Wind Turbine Shaft Demand Share Forecast, 2019-2026
11. Middle East & Africa Wind Turbine Shaft Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Wind Turbine Shaft Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Wind Turbine Shaft Market Size and Volume Forecast by End Users
     11.4.1. Industrial
     11.4.2. Commercial
     11.4.3. Residential
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Wind Turbine Shaft Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Wind Turbine Shaft Market: Market Share Analysis
  12.2. Wind Turbine Shaft Distributors and Customers
  12.3. Wind Turbine Shaft Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Siemens
     12.4.2. Schaeffler AG
     12.4.3. Suzlon Energy Limited
     12.4.4. GENERAL ELECTRIC 
     12.4.5. ORIENT GREEN POWER COMPANY LIMITED
     12.4.6. Sinovel Wind Group Co. , Ltd.
     12.4.7. MINGYANG SMART ENERGY
     12.4.8. NORDEX SE
     12.4.9. China Guodian Corporation

Methodology

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