MARKET OVERVIEW
The global Wind turbine shaft market is mainly driven by rising environmental concerns, such as greenhouse gas emissions. Additionally, the manufacturers are also trying to achieve cost reduction alongside trying to improve the production of wind turbines. Furthermore, rising population and rapid industrialization are resulting in growing energy demand. To meet the growing energy demand, government across the globe is emphasizing harnessing renewable energy, such as solar and wind energy. It led to the installation of new wind power projects, which, in turn, will generate the demand for wind turbine shafts.
MARKET SCOPE
The "Global Wind Turbine Shafts Market Analysis to 2028" is a specialized and in-depth study of the Energy and Power industry with a special focus on global market trend analysis. The report aims to provide an overview of the steam condenser for the thermal power plant market with detailed market segmentation by type, material type, deployment, end user, and geography. The global wind turbine shafts market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading wind turbine shafts market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global wind turbine shafts market is segmented by type, material type, deployment, and end user.
- On the basis of type, the market is segmented into Main Shaft, Generator Shaft.
- On the basis of material type, the market is segmented into Metal, Synthetic Composites.
- On the basis of deployment, the market is segmented into On-shore, Off-shore
- On the basis of end user, the market is segmented into Industrial, Commercial, Residential
MARKET DYNAMICS
Drivers-
- Improving economic conditions worldwide and reduction per kWh of wind energy generation are leading to rising adoption of wind turbines globally, which is expected to boost the growth of the global wind turbine shaft market.
Restrains
- However, the high capital cost and high material cost of the turbine shaft may act as a restraint for the market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
The COVID-19 pandemic greatly impacted the wind turbine shafts market globally. The decline in industrial activities of transportation and petrochemicals due to the pandemic is expected to hamper the wind turbine shaft market growth. The pandemic has forced many industries in the market to nearly stop their operations to comply with the government regulations such as social distancing. Due to the lockdown implemented worldwide, national and international transport has been hampered, significantly impacting the supply chain of numerous industries globally, thereby increasing the supply-demand gap. Thus, insufficient raw material supply will further affect the wind turbine shaft's production rate, negatively impacting supply chain management. Furthermore, wind turbine shaft OEM companies are disrupting the supply chain due to the shutdown of production facilities around the world. For instance, Nordex SE has reported a decrease in net sales in the first six months of 2020.
MARKET PLAYERS
The reports cover key developments in the wind turbine shafts market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from wind turbine shafts market are anticipated to lucrative growth opportunities in the future with the rising demand for wind turbine shafts in the global market. Below mentioned is the list of few companies engaged in the wind turbine shafts market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the wind turbine shafts market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, the key development in the past five years.
- Sinovel
- Siemens AG
- Ming Yang
- Guodian United Power
- Nordex
- Dewind
- Senvion
- Suzlon Energy Limited
- GE Wind Energy
- Orient Green Power Ltd.