Europe Wind Turbine Shaft Market is Expected to Register a High CAGR in the Forecast Period

The increase in installed wind energy capacity and the government acting towards less carbon emissions are the factors fueling the Europe Wind Turbine Shaft Market growth in the forecast period.

According to TechSci Research report, “Europe Wind Turbine Shaft Market – By Country, Competition Forecast & Opportunities, 2028,” the Europe Wind Turbine Shaft Market is expected to register a high CAGR over the forecast period. The demand for energy and power in the region has increased quickly over the past ten years, and the need to protect the environment has become a significant factor in the region, which has led several nations in the region to adopt renewable energy sources like wind power and few others. As a result, the Europe wind turbine shaft market is expected to expand significantly. It is anticipated that the need for wind turbine shafts would increase as more windmills are installed throughout the area. Factors like increased demand for clean and renewable energy in the region and government support obtained by the industry for setting up wind farms are expected to drive the growth of the market. The costs of wind technology have decreased over the past few years, assisting in the growth of the establishment of wind farms across the region and allowing the companies involved in power generation to avail access to such technology at reduced prices.

On the other hand, the production of clean energy from alternative sources, primarily solar and natural gas, is posing challenges for the wind power industry. Since using gas and solar energy to generate power is a greener alternative, it is anticipated that demand for wind turbine shafts will be hampered.

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The Europe Wind Turbine Shaft Market is divided into application, type, material type, country and competitive landscape. Based on application, the market is segmented into Offshore and Onshore. Onshore wind farms typically have a direct connection to the main rotor hub, but due to the high speeds involved, those used at sea require additional gearing between them. Wind turbine driving shafts are frequently employed on land for a variety of uses. Drive shaft bearings may become damaged when working in the wind due to high-speed rotations and heat production during high-load scenarios. Due to this, a complete examination is carried out before installation, considering all factors, including the equipment's vintage and how often it has been used. Different companies offer repair services based on their product warranty policies if bearing variations lead to any damage. Hence the onshore locations are rising in the region, owing to which the market players are focusing towards the onshore segment.

Based on type, the market is divided into a main shaft and generator shaft. A primary part of an onshore wind turbine, the generator shaft, receives power from the rotor blades through primary shafts. This part's major objective is to effectively transmit the force produced by the high-speed spinning of the rotor blades while reducing reactive forces brought on by abrupt changes in direction and maximizing shear force. Owing to which the generator saft is the dominating segment in the forecast period.

In an onshore wind turbine, the generator shafts are rotating components that supply power and energy to the generator. According to its intended use, this component is typically composed of steel or an alloy to endure high speeds and the stress brought on by sudden changes in direction.

Based on material type, the market is segmented into metal & synthetic composites. Based on country, the market is divided into Germany, France, United Kingdom, Italy, Spain, Rest of Europe. Wind energy production is common in Germany. Due to higher wind speeds than onshore wind, the development of offshore wind power plants is turning into a lucrative industry. Therefore, it is anticipated that offshore wind-based electricity generation would significantly increase in the location.

Major market players in the Europe Wind Turbine Shaft Market include:

• Vestas Wind Systems A/S
• Nordex SE
• Siemens Gamesa Renewable Energy S.A
• Enercon GmbH
• General Electric Company
• Suzlon Energy Limited
• Vensys Energy AG
• Xinjiang Goldwind Science & Technology Co. Ltd
• NovaWind JSC
• Envision Energy
  
  

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"European countries are focusing on wind turbine generation energy due to which the market of wind turbine shafts is gaining traction. In order to produce an energy source that is both secure and environmentally friendly, governments of different nations and international organizations are putting more emphasis on alternative fuels like the wind in the coming years as a result of rising CO2 emissions and carbon footprints. Owing to which the Europe wind turbine shaft market is expected to grow in the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based Global management consulting firm.

“Europe Wind Turbine Shaft Market By Application (Offshore and Onshore), By Type (Main Shaft and Generator Shaft), By Material Type (Metal and Synthetic Composites), By Country, Competition Forecast and Opportunities, 2028,” has evaluated the future growth potential of Europe Wind Turbine Shaft Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities of the Europe Wind Turbine Shaft Market.

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