Slewing Bearings Market, by Product (Non-Gear Type Slewing Bearings, Internal Gear Type Slewing Bearings, External Gear Type Slewing Bearings), by Design (Cross Roller Slewing Ring Bearing, Double-Row Ball Slewing Ring Bearings, Three-Row Roller Slewing Ring Bearings, Bi-Angular Roller or Taper, Four and Eight Point Contact Ball, Single-row Four Point Contact Ball Slewing Ring Bearing), by Application (Construction & Transit Equipment, Industrial Equipment, Medical Equipment, Renewable Equipment), Regional Analysis: (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

Global Slewing Bearings Market Analysis 2026:

Slewing bearings are also called slewing rings which consist of the outer ring and inner ring and particularly support a heavy but slow-turning load of swing yarder and Conventional Crawler Cranes. It has also a versatile range of applications for excavators and aerial platform vehicles. Slewing bearings are also recognized as prominent products in the field of rolling bearing technology. Slewing bearings are thin in section and are mostly manufactured in the diameter range from 800 to 7,500 mm. This bearing has the potential of reliably support tilting radial and axial moment of loads. Slewing bearings majorly utilize two rows of rolling elements and three race elements, like an inner ring and two outer rings "halves" that clamp together axially.

Cost-effectiveness and Versatile applications of the Slewing bearings are expected to drive the Global Slewing Bearings Market

The significantly growing prominence of the infrastructure industry which needs equipment like cranes and forklifts are anticipated to boost the demand for the slewing bearings, throughout the forecasted period. These slewing bearings have the ability of high load carrying capacity, have versatile range of applications and are highly cost-effective. Moreover, factory automation along with the rise in the expansion and hike of the end-use industries like renewable energy and healthcare, are also projected to drive the growth of the market. Rising adoption of the efficient of machinery to boost the productivity, availability of manufacturers and service providers in the global market and consistent improvements in the design of these bearings are projected to drive the growth of the global slewing bearings market.

Higher costs and lack of appropriate resources is projected to restrain the growth of global Slewing Bearings Industry

A massively competitive and price conscious construction market is anticipated to decline the growth of the GCC (Gulf Cooperation Council) construction industry in the middle-east countries. Therefore, it is projected to restrain the demand for slewing bearings in the middle-east countries; ultimately it will obstruct the growth of the slewing bearings market.

Application in the forest machinery projected to create enormous opportunities for the Slewing Bearings Industry

Forest machinery needs strong components, for timber harvesting and wood processing activities. Slewing bearings have the optimized design and it has the capacity to work in rough environmental conditions. Also, these highly advanced slewing bearing balls accept the shocks and the high rotating speed of the de-barkers and the temperature of the boreal or snow forests. These latest trends in the slewing bearings are anticipated to create huge opportunities in the global market.

Slewing Bearings Market Segmentaion, by Product:

External Gear Type Slewing Bearings segment will be most lucrative till 2026

The external gear type slewing bearings has the highest global market share, and it is expected to generate a remarkable revenue, in the forecast period. The processes such as fault detectionand gear meshing inspection are easier. Moreover, the specific gear ratio of these bearings greatly minimizes the circumferential force and torque on the pinion.

The internal gear type slewing bearings has the highest CAGR, and it is expected to generate a noticeable revenue, in the projected period. The internal gear type slewing bearing has the ability to decrease friction and increase turbine and pitch control performance. Furthermore, reduced friction in these bearings helps to increase energy production. In addition, the operation and maintenance costs of these bearings are low. Moreover, improved pitch control, increased turbine reliability and extended seal and bearing service life are projected to boost the growth of the global slewing bearings market.

Slewing Bearings Market, by Design:

Cross roller slewing ring bearing segment will register significant growth, during the projected period

The four and eight point contact ball has a significant market share in the global market, during the forecasted period. These bearings are highly suitable for applications with lower requirements for rigidity and accuracy of the bearing arrangement, such as construction machinery, simple metalworking machines, and wind power equipment. In addition, these bearings are cost-effective along with it has features such as low maintenance and faster installation.

The cross roller slewing ring bearing has witnessed immense growth in the global market, throughout the forecasted period. Crossed roller bearings have the capability to support higher loads than four point contact balls. They are greatly efficient for high radial forces and moderate axial and tilting moment loads. In addition, these bearings are more suitable for multiple applications such as in robots, machine tools and handling systems. 

Slewing Bearings Market, by Application:

The renewable segment will register a significant growth till 2026

The renewable equipment segment has witnessed significant growth in the global market, and it is anticipated to generate a noticeable revenue in the forecasted period. This is majorly because eight-point and four-point bearings allow turbine blades to be positioned to optimize blade angle, depending on the speed of the wind. Also, the highly advanced design of slewing bearings offers thrust, exceptional moment, and radial load capacities. 

The Slewing Bearings Market, by Region:

Asia-Pacific region will have immense opportunities for the market investors

Asia Pacific Slewing Bearings market is anticipated to have tremendous growth in the global market, during the projected period. Established companies such as Kaydon Bearings, an SKF Group Company operating in this market have made multiple strategic developments to strengthen their footprint in these regions. In addition, slewing bearings have a major role in applications such as renewable energy (Windpower) and construction projects. Thus, rising activities of these projects in Asian countries such as China, India, and South Korea are expected to fuel the demand for slewing bearings in the Asian market. For instance, as per research conducted by International Renewable Energy Agency (IRENA), China’s wind power capacity increased by 22-fold in 2018.

The North America region holds the highest share in the slewing bearings market, during the forecasted period. This is mainly because of rising investments by top market players in this region. Moreover, a massive expansion in construction activities in European economies such as France and Germany is also expected to propel the growth of the European market.

Key participants in the Global Slewing Bearings Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Source: Research Dive Analysis

Some of the significant Slewing Bearings market players include thyssenkrupp rothe erde Germany GmbH, WaFangDian Rolling Bearing Manufacturing CO., LTD., Universal Industrial Products., NSK Ltd., THE TIMKEN COMPANY, Schaeffler India Limited, Antex corp, LA LEONESSA SpA, Zhejiang Tianma Bearing Group Co., Ltd., and Xuzhou Helin Slewing Bearing Co., Ltd.

Market Players prefer inorganic growth strategies to expand into local markets. Slewing Bearings market players are emphasizing more on merger & acquisition and advanced product development. These are the frequent strategies followed by established organizations. To emphasize more on the competitor analysis of market players, the porter’s five force model is explained in the report.
 

Source: Research Dive Analysis

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