Wind Turbine Shaft Market Outlook - 2027
A wind turbine shaft is a component that is connected to the center of the machine rotors. The process starts when rotor spins, facilitating the rotor o transfers its mechanical, rotational energy to the shaft. Wind is the renewable energy process, and is considered the most environment-friendly method to generate electricity. It has become the most popular method to generate extra power and is cost-effective. The efficiency of the wind turbine shafts depends upon the amount of net input energy supplied to it in the form of fuel. Thus, multiple benefits associated with wind turbine shaft are expected to boost the growth of the global market during the forecast period.
COVID-19 impact analysis
The global market for wind turbine shaft is severely impacted by the outbreak of the COVID-19 pandemic. The decline in industrial activities of transportation and petrochemicals due to 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. Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap. Thus, insufficiency in raw material supply will further affect the production rate of wind turbine shaft, which negatively impacts the wind turbine shaft supply chain management. Furthermore, wind turbine shaft OEM companies are facing disruption in supply chain owing to shutdown of production facility located around the world. For instance, Nordex SE has reported decrease in the net sales in the first six month of 2020.
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
The adoption of combined cycle wind turbines and integrated wind combined cycle in the industrial &commercial sector is the major driving factor of the global wind turbine shaft market. These technologies generate high efficiency &eco-friendly electricity and power. Moreover, the thermal efficiency of wind turbine shaft is higher than of a reciprocating engine. Wind turbine shaft exhibits high power to weight ratio and enhanced reliability, which further propel its demand, globally. However, high cost, complicated installation process, and less responsiveness to changes in power demand hamper the market growth.
The global wind turbine shaft trends are as follows:
New product launches to flourish the market
New products that exhibit improved capabilities have been launched by leading market players. For example, Danish recently launched a new wind turbine shaft for turbine that is capable of producing 10 GW of energy. Manufacturers have taken necessary steps to improve the accuracy of devices and overall functionality as well. The wind turbine shaft combined cycle is the recent development in the industry that possesses the potential to conduct secondary power generation by a steam turbine and utilizing the exhaust heat expelled after rotating the wind turbines. Furthermore, to eliminate noise pollution, peak motor speeds are being installed. The major market manufacturers of the wind turbine shaft market are attempting to make turbines more visually attractive with the help of recent technologies.
Surge in usage in of energy and rising installation of wind turbines
Manufacturers have been focusing on producing new products for specific applications as there are varying demands based on the utilization. Furthermore, wind turbine shaft finds its major application in water pumping activities. Rise in installation of wind turbines owing to its advantages such as clean source of energy, low cost during power generation, and reduced maintenance cost have augmented the demand for wind turbine shaft.
Key benefits of the report
- This study presents the analytical depiction of the global wind turbine shaft industry along with the current trends and market estimation to determine the imminent investment pockets.
- The report represents information related to key drivers, restraints, and opportunities along with detailed analysis of the wind turbine shaft share.
- The current market is quantitatively analyzed to highlight the tubular membranes market growth scenario.
- The report provides a detailed market analysis depending on competitive and how the competition will take shape in coming years.
- This report helps users in comprehending the key product segments and their future.
Wind Turbine Shaft Market Report Highlights
By End User
Key Market Players
Sinovel, Siemens AG, Dewind, GE Wind Energy, Senvion, Nordex, Ming Yang, Guodian United Power, Suzlon Energy Limited, Orient Green Power Ltd.