This graph illustrates the share of electricity generation in the United Kingdom (UK) from 1996 to 2017, by source. It shows that the share of electricity generated from coal has been decreasing significantly over this period, dropping from a share of **** percent in 1996 to just ***** percent by 2017. This coincides with the increasing share of renewable electricity generation, which combined with nuclear electricity generation had a share of more than ** percent for the first time ever in 2017.

In 2017, just under 100 terawatt hours of electricity was generated through renewable sources, with onshore wind generating **** terawatt hours.

This statistic shows the total amount of electricity generated in the United Kingdom (UK) from all fuel types, from 2005 to 2017. The amount of electricity generated was the lowest in 2014, with ***** terawatt-hours.

This graph illustrates the primary energy use shares in the United Kingdom (UK) from 1970 to 2017, by source. In 2017, fossil fuels supplied approximately ** percent of the primary energy in the UK. This was the lowest share of during this time period. In comparison, the share of renewables in the primary energy mix amounted to **** percent, which was the highest ever share of renewable primary energy.

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Wind Turbine Shaft Market Size 2024-2028

The wind turbine shaft market size is forecast to increase by USD 1.42 million, at a CAGR of 5.55% between 2023 and 2028. Market growth depends on several crucial factors. The rapid growth of the global wind power industry is a primary driver, fueled by the increasing demand for renewable energy sources. Rising investments in clean sources of energy further support this expansion, as both public and private sectors allocate funds towards developing and scaling wind energy technologies. Additionally, regulatory support for wind energy projects plays a significant role, with governments implementing policies and incentives that facilitate the deployment and integration of wind power systems. These elements collectively drive the market forward, promoting advancements in technology, increasing project feasibility, and accelerating the transition towards a sustainable energy future.

What will be the Size of the Market During the Forecast Period?

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Market Dynamic and Customer Landscape

The market is driven by the increasing demand for renewable energy sources, particularly wind energy, to reduce CO2 emissions and minimize the carbon footprint. The market is primarily focused on the production of wind turbine shafts, a crucial component of wind turbines that connects the rotor to the generator. Wind turbines are a significant contributor to the electricity generation sector, especially in wind power countries. The transportation sector and petrochemicals industry also rely on wind energy as an alternate fuel. However, government regulations, lockdowns, and disruptions in the supply chain due to raw material supply issues and production rate constraints have affected the market. OEM companies such as Nordex SE dominate the market, with net sales reaching billions. International bodies and energy organizations emphasize the importance of wind power in reducing CO2 emissions and promoting sustainable energy. Design advancements in wind turbines, such as larger rotors and more efficient blades, have increased the demand for stronger and more durable wind turbine shafts. The market is also witnessing growth in the solar energy and hydropower energy sectors, as these industries also require robust shafts for their turbines.

Key Market Driver

Rapid growth of the global wind power industry is notably driving the market growth. The market is experiencing significant expansion due to the increasing demand for eco-friendly electricity sources and government regulations promoting renewable energy. With the global economy growing at a rate of 3.4% annually and a projected population increase from 7.4 billion in 2017 to 9 billion by 2040, the need for sustainable energy solutions is more crucial than ever. Europe and China are leading the way in this market, with Europe's advanced wind technology and China's vast resources and investment in the sector. Onshore wind development has gained significant traction due to technological advancements, including sophisticated electronics and efficient planning and management. These improvements have enhanced the reliability of wind turbine systems and reduced costs, making them a competitive alternative to traditional energy sources. Offshore wind development is also gaining momentum, with new product launches and increasing production rates from OEM companies like Nordex SE. The market is a critical component of wind power generation, with accuracy and functionality playing essential roles in the efficiency and reliability of wind turbines. The market is also influenced by government regulations, supply chain disruptions due to lockdowns, and raw material supply issues. However, the market's long-term growth prospects remain strong, with potential for secondary power generation through combined cycle systems, steam turbines, and exhaust heat recovery.

Further, the shift towards renewable energy sources is reducing CO2 emission and minimizing the carbon footprint of the power sector. Wind power countries are exploring alternate fuels and energy sources like solar and hydropower to diversify their energy mix. Thermal efficiency and noise pollution are also key considerations in wind power development, with peak motor speeds and energy usage optimized to minimize these issues. Water pumping activities and peak power demands are other areas where wind power can make a significant contribution. International bodies like the International Energy Agency (IEA) are promoting wind power as a key component of the global energy mix, with a goal of increasing wind power capacity to 1,200 GW by 2050. This will require continued innovation and investment in wind power technology, including reciprocating engines, wind turbine designs, and energy storage solutions. The wind power industry is expected to continue its growth trajectory, providing

Monthly power sector emissions in Great Britain are typically highest in the colder months, and during this period reached a high of 10.53 million metric tons of carbon dioxide equivalent in January 2017. Since then, monthly emissions have been in a downward trend. This is mainly due to the reduction of monthly emissions released from coal combustion. Whilst historically a major consumer of coal, this energy source is being phased out in Great Britain and replaced with cleaner energy sources such as renewables, nuclear, and natural gas. Presently, coal accounts for just two percent of the UK power mix. In comparison, CCGT makes up for more than 40 percent.

In 2023, imports of natural gas by pipeline from Norway to the United Kingdom amounted to nearly 284 terawatt hours. In the period of consideration, figures oscillated, peaking at 393.4 terawatt hours in 2017.

The volume of coal produced in the United Kingdom has fallen considerably since 1970. In that year, 136.6 million metric tons was produced from deep mining alone, but by 2017 UK production volumes had fallen to a record low of 20 metric tons. Surface mining overtook deep mining as the most productive coal mining type in the UK by 2005. In 2022, some 588,000 tons of coal were retrieved through surface mining.Death of an industry As production has decreased, so have the number of operational coal mines in the UK. In 2000, deep mine numbers stood at 33, but 21 years later this number had fallen to just four. This in turn has affected UK coal mining employment numbers. Historically the coal industry has been a major powerhouse of the UK’s economy, employing more than one million individuals in 1920. By 2021 the number of employees was less than 500, showing a shift away from the fossil fuel. Coal in the energy mixThe reliance on coal in the UK’s energy mix has plummeted. In 2020, only 5.5 terawatt hours of electricity were generated using coal-fired power stations, accounting for 1.8 percent of all electricity generated that year. In May 2019, Britain went one week without coal power, the first time this had happened since 1882.

This statistic shows the number of Centrica employees in the energy supply and services - UK & Ireland division from 2010 to 2018. British Gas is one of the so-called 'Big Six' energy suppliers in the United Kingdom (UK). The British Gas workforce was largest in 2011, when it employed ****** people.The UK energy sector provides employment for a significant number of people. E.ON employed 9, 077 people in the UK in 2018, and in 2017, the wind energy sector employed approximately ****** people. As the size of renewable energy's contribution to the UK energy mix increases , employment in these areas would appear set to increase in the coming years.