Slewing Bearing Market is expected to grow at a robust CAGR
Global
Slewing Bearing Market is expected to grow owing to a rise in the number of
wind projects and advancement in technology throughout the forecast period.
According
to TechSci Research report, “Slewing
Bearing Market - Global Industry Size, Share, Trends, Opportunity, and
Forecast 2018-2028”, the Global Slewing Bearing Market is
expected to register robust growth during the forecast period. Currently,
slewing bearings are experiencing significant demand due to their increasing
applications in the infrastructure industry and renewable energy sector.
Slewing bearings play a crucial role as one of the main components in wind
turbine mills, which is driving the growth of the slewing bearing market.
Furthermore, there has been a global increase in spending on product
development and R&D activities, driven by the growing awareness of the need
and benefits of slewing-bearing technology. The market is also witnessing
intensified competition, with new players entering the slewing-bearing
landscape, while evolving governmental policies and the rising demand for
infrastructure and heavy-duty equipment contribute to the increased adoption of
slewing-bearing devices in both developed and developing countries.
Technological
advancements in materials, design, and manufacturing techniques are driving
opportunities for slewing bearing manufacturers to provide advanced and
efficient solutions. Innovations in materials, such as corrosion-resistant
alloys, and improved sealing mechanisms enhance the durability and performance
of slewing bearings in demanding environments. The maritime industry heavily
relies on slewing bearings for critical applications like ship cranes, port
equipment, and offshore platforms. The growth of global trade and the expansion
of port facilities present lucrative prospects for slewing bearing
manufacturers to meet the demands of this industry.
The
Global Slewing Bearing Market is segmented by rolling element, gear type,
design, application and region. Based on rolling element, the market is
bifurcated into ball and roller. Based on gear type, the market is bifurcated
into internal gear, ungeared and external gear. Based on design, the market is
bifurcated into cross roller slewing ring bearing, single-row four point
contact ball slewing ring bearing, three-row roller slewing ring bearings,
double-row ball slewing ring bearings and others. Based on application, the
market is bifurcated into wind & solar energy, aerospace & defense,
medical, industrial machinery, oil & gas and others. Based on region, the
market is further bifurcated into North America, Asia-Pacific, Europe, South
America, Middle East & Africa.
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Based
on rolling element, Ball
segment is expected to dominate the market during the forecast period. Ball
segment slewing bearings are often a more cost-effective option for
manufacturing compared to other types of slewing bearings. This makes them an
attractive choice for applications that require a balance between performance
and budget considerations. Ball segment slewing bearings are utilized in a wide
range of industries, including construction, material handling, mining, and
more. Their versatility makes them suitable for various types of machinery and
equipment. Construction machinery such as excavators, cranes, and concrete
pumps commonly rely on ball segment slewing bearings, as these applications
demand bearings capable of handling heavy loads and providing smooth rotation
for precise movement. Similarly, material handling equipment like conveyor
systems, stackers, and reclaimers frequently employ ball segment slewing
bearings to facilitate movement and rotation. The ability of these bearings to
handle both axial and radial loads makes them well-suited for these
applications. In the renewable energy sector, solar tracking systems utilize
ball segment slewing bearings to orient solar panels for optimal sunlight
capture throughout the day. The smooth rotation of these bearings ensures
efficient tracking of the sun's movement. Furthermore, in automation and
robotics, ball segment slewing bearings enable the rotational movement of
robotic arms and components, contributing to the accuracy and efficiency of
these systems.
Based
on gear type, External Gear segment is projected to dominate the market
throughout the forecast period. products. External gear slewing bearings
incorporate the gear mechanism into the outer diameter of the bearing,
facilitating a compact design. This feature proves advantageous in applications
with limited space, where a separate gearbox may not be practical. The
inclusion of external gears enhances the versatility of these bearings,
allowing for seamless integration into various systems and applications that
necessitate controlled rotation. Aerial work platforms, such as cherry pickers
and boom lifts, commonly utilize external gear slewing bearings to enable
precise rotation of the platform. This capability enables operators to reach
specific locations effortlessly and accurately. Moreover, external gear slewing
bearings find applications in material handling equipment, including conveyor
systems, stackers, and reclaimers. Their ability to withstand heavy loads and
effectively transmit torque makes them highly suitable for such demanding
applications. Additionally, various industrial machinery, such as packaging
machines, rotating platforms, and turntables, can incorporate external gear
slewing bearings to achieve controlled and precise rotation.
Key
market players in the Global Slewing Bearing Market are:
- Schaeffler
India Limited
- The
Timken Company
- Antex
corp
- NSK
Ltd.
- La
Leonessa S.p.A
- Fenghe
Slewing Bearing
- Zhejiang
Tianma Bearing Group Co., Ltd.
- WaFangDian
Rolling Bearing Manufacturing CO.,LTD.
- Xuzhou
Helin Slewing Bearing Co., Ltd.
- Defontaine
Group
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“Asia
Pacific is expected to be the dominating region during the forecast period. The
growth of the manufacturing sector in Asia Pacific has resulted in an increased
requirement for material handling equipment, with slewing bearings playing a
crucial role in ensuring smooth rotation and movement. Industries such as
automotive, steel, and logistics heavily rely on these bearings for a wide
range of applications, including conveyor systems, robotic arms, and assembly
line machinery.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Slewing
Bearing Market – Global Industry Size, Share, Trends, Opportunity, and
Forecast, 2018-2028 Segmented By Rolling Element (Ball and Roller), By Gear
Type (Internal Gear, Ungeared and External Gear), By Design (Cross Roller
Slewing Ring Bearing, Single-row Four Point Contact Ball Slewing Ring Bearing,
Three-row Roller Slewing Ring Bearings, Double-row Ball Slewing Ring Bearings
and Others), By Application (Wind & Solar Energy, Aerospace & Defense,
Medical, Industrial Machinery, Oil & Gas and Others), By Region,
Competition,”
has evaluated the future growth potential of Global Slewing Bearing 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 in Global Slewing Bearing Market.
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