This Wind Turbine Shaft market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Wind Turbine Shaft market.
Wind Turbine Shaft Market: Introduction
A wind turbine generates electricity by harnessing the power of wind. A wind turbine shaft is the most central part of a wind turbine, subjected to highly dynamic loads and operating conditions. The energy from wind is converted into mechanical energy with the help of blades and rotors, which is then transferred to a generator through the gear box and shaft. The wind turbine generally consists of two types of shafts i.e. main shaft and generator shaft. The main shaft is a low speed shaft with the turbine rotor bolted through a strong disc. The generator shaft is a high speed shaft coupled with the output shaft of the gearbox.
Wind Turbine Shaft Market: Market Dynamics
The Wind turbine shaft market is being mainly driven by growing environmental concerns, such as greenhouse gas emissions. The manufacturers are also trying to achieve cost reduction alongside trying to improve production wind turbines. Furthermore, increasing population and rapid industrialization is resulting in growing energy demand. To meet the growing energy demand, the government across the globe is emphasizing on harnessing renewable energy, such as solar and wind energy. This is expected to lead to installation of new wind power projects, which, in turn, will generate the demand for wind turbine shafts.
Increasing adoption of offshore wind energy generation as a clean source of energy in many countries, such as China, Japan, South Korea, India, Taiwan and the U.S., is expected to create new opportunities for the growth of wind turbine shaft market. However, harsh environmental conditions require more technological advancement in terms of design and strength, resulting in higher initial setup cost.
Improving economic conditions in several parts of the world and reduction in per kWh of wind energy generation is leading to increasing adoption of wind turbines across the globe, which in turn, is expected to drive the growth of global wind turbine shaft market. However, high capital cost and high material cost of the turbine shaft may act as a restraint for the market. Moreover, the wind power generation is facing competition from solar panels, which might pose to be a threat to the wind turbine shaft market. To reduce the setup cost of wind turbines, the manufacturers are focusing on analyzing and designing the shaft with optimal diameter and material to reduce the cost of production. A wind turbine shaft can be made from different types of materials, such as alloy steel, aluminum and synthetic composites (like fiber glass). Over the past few years, fiber glass is gaining popularity due to its light weight and high tensile strength. With the continuous developments and improvements in the field of material science, new materials are being developed and experimentation with new materials for wind turbine shaft is in trend.
Wind Turbine Shaft Market: Regional Outlook
Asia Pacific is expected to dominate the wind turbine shaft market throughout the forecast period. Asia Pacific market is expected to flourish due to increasing demand for electricity in developing countries, such as India and China, and increasing government initiatives and investments promoting the production of wind energy. Europe is anticipated to be a lucrative market during the forecast period. The demand for wind turbine shafts in Europe is estimated to increase owing to increasing adoption of wind energy and stringent environmental regulations. North America is expected to witness steady growth in the wind turbine shaft market during the forecast period. Latin America and MEA wind turbine shaft markets are expected to grow at a comparatively slower pace during the forecast period.
Wind Turbine Shaft Market: Key Players
Some of the prominent players operating in the wind turbine shaft market are as follows:
- Altra Industrial Motion Corp
- Schaeffler Technologies AG & Co. KG
- Luoyang Yujie Industry & Trade Co.,Ltd
- Western Machine Works Inc.
- Broadwind Energy, Inc.
- Siemens Gamesa Renewable Energy
- Wuxi Solar Wind Energy Technology Co.,Ltd
- Jiangsu Huixuan New Energy Equipment Co., Ltd.
- Fusion Inc.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC Countries, S. Africa, Northern Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Wind Turbine Shaft Market: Segmentation
On the basis of material type, the wind turbine shaft market can be segmented into:
- Synthetic Composites
On the basis of type, the wind turbine shaft market can be segmented as:
- Main Shaft
- Generator Shaft
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Wind Turbine Shaft Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Wind Turbine Shaft Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
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How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.