Wind Turbine Shaft Market Report 2025 (Global Edition)

Global Wind Turbine Shaft Market Report 2025 Market Size Split by Material Type (Metal, Composite), by End User (Industrial, Commercial, Residential), by Deployment (On-Shore, Off-Shore)

Wind Turbine Shaft Market Report Description

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Competitive Landscape of the Wind Turbine Shaft Market

The major firms rapidly adapt new strategies to gain a competitive advantage and market share. The primary wind turbine shaft market participants prioritize expanding inventive offers to serve a big client base and obtain a competitive advantage.

Wind Turbine Shaft Industry News

• In July 2022, WEG announced the debut of its latest wind turbine platform, which has a 7 MW capacity and a rotor diameter of 172 meters. This wind turbine is thought to be the largest in use in the Brazilian market. The new design, with its increased power and efficiency, improves output for wind generation projects.

(Source: www.weg.net/institutional/US/en/news/products-and-solutions/weg-to-launch-a-7-mw-wind-turbine#:~:text=WEG%20has%20just%20announced%20the,output%20for%20wind%20generation%20projects.)

Top Companies Market Share in Wind Turbine Shaft Industry: (In no particular order of Rank)

• Altra Industrial Motion Corp
• Schaeffler Technologies AG & Co.KG
• Luoyang Yujie Industry & Trade
• Western Machine Works
• Broadwind Energy
• Siemens Gamesa Renewable Energy
• Wuxi Solar Wind Energy Technology
• Huixuan New Energy Equipment
• Fusion
• Sinovel
• Ming Yang
• Nordex
• Dewind
• Orient Green Power
• Senvion Suzlon
• Guodian United Power
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

The Asia Pacific Wind Turbine Shaft market accounted for a share of more than 46% of the global revenue in 2023

According to Cognitive Market Research, Asia Pacific dominated the market in 2023 and accounted for around 46% of the global revenue, owing to the region's growing beauty and cosmetics industry, influenced by trends in beauty self-expression, the impact of social media influencers, and an emphasis on product innovation. Increased online retail accessibility, the pursuit of natural and organic options, and a focus on inclusivity also contribute to the market's expansion, making it a dynamic and competitive sector within the broader cosmetics industry.

Asia Pacific is the fastest-growing category as the region's increasing influence of social media and beauty influencers, the demand for customizable and inclusive products, a growing focus on sustainability and natural ingredients, and the proliferation of e-commerce coupled with a desire for self-expression and grooming contribute to the market's sustained growth, making it a vibrant and evolving segment within the broader cosmetics industry.

The current report Scope analyzes Wind Turbine Shaft Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Wind Turbine Shaft Market

According to Cognitive Market Research, North America held the major market of more than 26% of the global revenue, with a market size of USD 1.43 billion in 2023. It will grow at a compound annual growth rate (CAGR) of 7.0% from 2023 to 2030. North America is at the forefront of the wind turbine shaft market, owing to a strong commitment to renewable energy. Wind energy projects are expanding rapidly throughout the region, particularly in the United States and Canada, driving demand for high-quality turbine shafts. The industry is seeing increased activity as North America embraces sustainable energy initiatives and grows its wind power capacity. There is a growing emphasis on land-based and offshore wind installations, particularly in the commercial and industrial sectors, cementing North America's pivotal role in shaping the trajectory of the wind turbine shaft market, with sustained growth anticipated in the pursuit of sustainable energy solutions.

Europe Wind Turbine Shaft Market

According to Cognitive Market Research, with a market value of USD 1.21 billion in 2023 and projected to expand at a compound annual growth rate (CAGR) of 7.2% from 2023 to 2030, Europe accounted for the majority of global revenue, accounting for over 22% of the total The region, which is home to significant players in wind energy technology, has a high demand for turbine shafts, which is driven by on- and offshore wind projects. The emphasis on sustainable energy solutions in Europe and supportive government policies drive industry growth. The adoption of wind turbines for commercial and industrial applications is a key segment contributing to the market's rise in the industrial sector, notably in countries like Germany and the United Kingdom. As it continues to pioneer improvements in wind energy technology, Europe remains a significant factor in setting the future trajectory of the wind turbine shaft industry.

Asia Pacific Wind Turbine Shaft Market

According to Cognitive Market Research, Asia Pacific held a considerable market share in 2023, accounting for more than 46% of the global revenue with a market size of USD 2.53 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 8.9% from 2023 to 2030 spurred by the region's growing commitment to renewable energy and the rapid construction of wind generating plants. China and India are creating significant demand for turbine shafts as they expand their wind energy capacities. The commercial sector is an important component in Asia Pacific, with industries progressively adding wind turbines into their energy portfolios. The dynamic growth of the region's wind energy sector makes it an important contributor to the global market. As Asia Pacific continues to lead in renewable energy adoption, the wind turbine shaft market is expected to expand steadily, highlighting the region's critical role in transitioning to cleaner, more sustainable energy sources.

South America Wind Turbine Shaft Market

According to Cognitive Market Research, Latin America accounted for more than 4% of the global wind turbine shaft revenue in 2023, with a market size of USD 0.22 billion in 2023. It will grow at a compound annual growth rate (CAGR) of 7.8% from 2023 to 2030, driven by a growing focus on renewable energy programs. The region is seeing increased wind turbine installations, driving demand for efficient and long-lasting turbine shafts. The industrial sector is an important area in Latin America, with firms implementing wind energy solutions into their operations. The wind turbine shaft industry is expanding rapidly as nations such as Brazil and Mexico embrace the switch to renewable energy sources. Latin America's involvement in promoting sustainable energy practices places the region as a key participant in defining the trajectory of the wind turbine shaft market, with continuing growth anticipated in the search for cleaner and more resilient energy solutions.

Middle East Wind Turbine Shaft Market

According to Cognitive Market Research, The Middle East and Africa accounted for more than 2% of the global revenue in 2023, with a market size of USD 0.11 billion in 2023. They will grow at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2030, indicating an increasing interest in diversifying energy sources. While the business in this region is still in its early stages, onshore wind projects are gaining traction, increasing demand for turbine shafts. The focus in the Middle East and Africa is on harnessing wind energy for industrial uses, making the industrial sector a prominent market segment. The wind turbine shaft market is poised for growth as the region explores prospects in renewable energy, notably in nations such as South Africa. The Middle East and Africa's journey toward incorporating wind power into its energy mix represents a promising, albeit early, stage in the region's wind turbine shaft market evolution.

Wind Turbine Shaft Market Analysis

Material Type Segment Analysis of the Wind Turbine Shaft Market

According to Cognitive Market Research, metal held the major market share over the forecast period. Metal is becoming more popular in the wind turbine shaft business. Metals, known for their strength and durability, are critical materials in producing turbine shafts. The increased demand for wind energy projects and the necessity for durable components add to the increased significance of metal in the production of wind turbine shafts, hence promoting market growth.

Composite is the fastest-growing category over the forecast period. The market for wind turbine shaft composites is expanding. In turbine shafts, composite materials provide benefits such as reduced weight, increased strength, and corrosion resistance. As the wind energy sector expands internationally, the use of composites in shaft manufacture rises, reflecting a trend toward lightweight and long-lasting components, contributing to the overall expansion of the wind turbine shaft market.

• Metal
• Composite

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Wind Turbine Shaft Industry. Request a Free Sample PDF!

Application Segment Analysis of the Wind Turbine Shaft Market

According to Cognitive Market Research, commercials hold a prominent market share. Increased investments in commercial wind energy projects, fueled by a global emphasis on renewable energy, boost demand for strong and dependable turbine shafts. As more commercial companies choose sustainable power solutions, the wind turbine shaft market increases to suit the expanding needs of commercial wind farms, thereby helping the broader goals of clean energy adoption.

The industrial sector is the fastest-growing category over the forecast period. Wind turbine installations are increasing to fulfil industrial energy demands, driving demand for durable and efficient turbine shafts. As more businesses adopt environmentally friendly practices, the market for wind turbine shafts expands to enable the incorporation of wind energy solutions into the industrial power landscape, contributing to overall market growth.

• Industrial
• Commercial
• Residential

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Wind Turbine Shaft Deployment Segment Analysis

According to Cognitive Market Research, on-shore holds a prominent market share. With a concentration on land-based wind energy projects, the on-shore sector has seen an increase in wind turbine installations. This spike in on-shore wind power efforts adds considerably to the demand for long-lasting and dependable turbine shafts, promoting market growth.

Offshore wind energy is the fastest-growing category over the forecast period. The growing popularity of offshore wind energy projects, known for harnessing stronger and more constant wind patterns, increases demand for specialist turbine shafts. With their distinct engineering needs, offshore installations contribute to the growing market for wind turbine shafts, reflecting the industry's shift toward capturing wind energy from offshore areas.

• On-Shore
• Off-Shore

Author's Detail

Vinayak Bali

Senior Research Analyst at Cognitive Market Research

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Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.

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