A general question deserves a general answer (I'm sure others can add more).
Why could a shaft fail?
Stresses can be produced from torsional load, bending load (less likely axial load). Those loads can be static, oscillating, or infrequent transients.
Failure can occur as ductile failure, brittle failure, fatigue failure.
Material can be weakened by stress concentrations from machining (for example shoulder without a radius), from attachments (interference fit hub without a radius), by surface finish and corrosion. By bad heat treat.
We had a pump shaft failure that we blamed on corrosion damage weakening the shaft which reduced fatigue strength.
Often looking at the fracture surface gives clues about the type of failure and types of stresses that caused it. There is quite a bit of textbook guidance about what to look for (I like "Practical Plant Failure Analysis" by Neville Sachs.). Also Austin Bonnet has some good papers on shaft failure.
If you told us more about the application or the failure appearance we might make a better guess, but still a guess. Probably Mech E general could give better guesses.
From what I gather the most common scenario is bending load (such as from belt) and failure at a stress concentrator.
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