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Global Slewing Bearings Market Size Is Predicted to Grow $6.74 Billion by 2030 With a Compound Annual Growth Rate of 5.90%

The demand analysis of Global Slewing Bearings Market size & share revenue was valued at around USD 4.27 billion in 2022 and is estimated to grow about USD 6.74 billion by 2030, at a CAGR of approximately 5.90% between 2023 and 2030. The key market players are listed in the report with their sales, revenues and strategies are SKF Group, Timken Company, ThyssenKrupp Rothe Erde GmbH, Schaeffler AG, NSK Ltd., Liebherr-International AG, Kaydon Corporation, IMO Group, Rollix Defontaine S.A., Antex GmbH, La Leonessa S.p.A., Xuzhou Helin Slewing Bearing Co., Ltd., SlewPro LLC, ZOLLERN GmbH & Co. KG, Fenghe Intelligent Technology Co., Ltd., Bonfiglioli Riduttori S.p.A., Jieheng Slewing Bearing Co., Ltd., ISB Industries, Hengrui Technology Development Co., Ltd., Suzhou Xinye Heavy Machinery Co., Ltd., IMO USA Corp., Kaydon Bearings, Kavitsu Robotronix Pvt. Ltd., JOST Werke AG, Rotek Inc., etc.

/EIN News/ -- Houston, TX, May 25, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Slewing Bearings Market By Product (Internal Gear Type Slewing Bearings, External Gear Type Slewing Bearings, And Non-Gear Type Slewing Bearings), By Rolling Element (Roller And Ball), By Applications (Construction & Transit Equipment, Renewable Equipment, Industrial Equipment, And Medical Equipment), By Design (Double-Row Ball Slewing Ring Bearings, Cross Roller Slewing Ring Bearing, Four & Eight Point Contact Ball, Single-Row Four Point Contact Ball Slewing Ring Bearing, Double-Row Ball Slewing Ring Bearings, And Bi-Angular Roller Or Taper), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.

“According to the latest research study, the demand of global Slewing Bearings Market size & share in terms of revenue was valued at USD 4.27 billion in 2022 and it is expected to surpass around USD 6.74 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.90% during the forecast period 2023 to 2030.”

What is Slewing Bearings? How big is the Slewing Bearings Industry?

Report Overview:

The global slewing bearings market size was worth around USD 4.27 Billion in 2022 and is predicted to grow to around USD 6.74 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.90% between 2023 and 2030.

Slewing bearings are large bearings that provide the rotation of heavy machinery components of equipment such as cranes, excavators, wind turbines, and medical equipment. They are sometimes also known as turntable bearings or rotary bearings. Their special design allows them to handle the moment, axial, and radial loads simultaneously, which makes them an ideal choice for applications that require precise and smooth rotation. Slewing bearings consist of two rings, one of them is the inner ring and the other is the outer ring. They are connected with rolling elements or raceways. They may either be balls or rollers. Depending on the type of slewing bearing, the raceways may either be placed on the inner ring or the outer ring. The market refers to the production and distribution of slewing bearings across end-user verticals.

Get a Free Sample PDF of this Research Report for more Insights with a Table of Content, Research Methodology, and Graphs - https://www.zionmarketresearch.com/sample/slewing-bearings-market

(A free sample of this report is available upon request; please contact us for more information.)

Our Free Sample Report Consists of the Following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 216+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on Request
  • Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
  • Zion Market Research research methodology

(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)

Global Slewing Bearings Market: Growth Factors

The global slewing bearings market is projected to grow owing to the increasing investment in improving and enhancing the performance & efficiency of slewing bearings. The modern age designs allow them to be used in a wider range of applications as an investment toward specialized machinery and components. In addition to this, the increasing advancements in materials science, manufacturing technologies, and design software have helped in further improvement of the industry.

The growing demand for such bearings in emerging economies such as China, India, and other nations that are witnessing a surge in construction and infrastructure projects could lead to higher revenue. These countries have significantly increased their demand for heavy machinery due to the rising end needs. Moreover, the market has been registering growth in government initiatives and regulations, especially toward reducing carbon footprinting by promoting the adoption of renewable energy which could drive the need and use of slewing bearings during the forecast period.

The slewing bearings industry is also plagued with several growth restrictions. One of the major reasons is the intense competition in the industry which is saturated with a number of established players along with a surging rate of new entrants. This is expected to become a leading cause of pricing pressures which translates to reduced profit margins for manufacturers. Furthermore, the environmental concerns surrounding the production of slewing bearings could cause growth to halt since consumers are becoming increasingly aware of the negative impact of slewing beating production on a large scale.

The increasing investment in the renewable energy sector could provide growth opportunities whereas the supply chain disruptions may challenge market growth.

Directly Purchase a copy of the report with TOC @ https://www.zionmarketresearch.com/buynow/su/slewing-bearings-market

Report Scope

Report Attribute Details
Market Size in 2022 USD 4.27 billion
Projected Market Size in 2030 USD 6.74 billion
CAGR Growth Rate 5.90% CAGR
Base Year 2022
Forecast Years 2023-2030
Key Market Players SKF Group, Timken Company, ThyssenKrupp Rothe Erde GmbH, Schaeffler AG, NSK Ltd., Liebherr-International AG, Kaydon Corporation, IMO Group, Rollix Defontaine S.A., Antex GmbH, La Leonessa S.p.A., Xuzhou Helin Slewing Bearing Co., Ltd., SlewPro LLC, ZOLLERN GmbH & Co. KG, Fenghe Intelligent Technology Co., Ltd., Bonfiglioli Riduttori S.p.A., Jieheng Slewing Bearing Co., Ltd., ISB Industries, Hengrui Technology Development Co., Ltd., Suzhou Xinye Heavy Machinery Co., Ltd., IMO USA Corp., Kaydon Bearings, Kavitsu Robotronix Pvt. Ltd., JOST Werke AG, and Rotek Inc.
Key Segment By Product, By Rolling Element, By Applications, and By Design
Major Regions Covered North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa
Purchase Options Request customized purchase options to meet your research needs. Explore purchase options

Slewing Bearings Market: Segmentation Analysis

The global slewing bearings market is segmented based on product, rolling element, applications, design, and others.

Based on product, the global market segments are internal gear type slewing bearings, external gear type slewing bearings, and non-gear gear type slewing bearings.

Based on rolling element, the slewing bearings industry divisions are roller and ball. In 2022, the highest CAGR was observed in the latter segment. Ball bearings have higher application in activities that require high speeds but low speeds such as electric motors, machine tools, and vehicles. Since they are less expensive and require low maintenance, ball bearings are highly preferred in the end markets. Roll bearings, on the other hand, are used in applications where higher load capacities and shock resistance are required. For instance in heavy machinery and construction equipment. These types of bearings can handle misalignment better than ball bearings. Steel is one of the most commonly used materials used in slewing bearings production and more than 1,864.0 million tonnes of crude steel was produced in 2020.

Based on applications, the global market segments are construction & transit equipment, renewable equipment, industrial equipment, and medical equipment.

Based on design, the slewing bearings industry segments are double-row ball slewing rings bearings, cross roller slewing ring bearing, four & eight point contact ball, single-row four point contact ball slewing ring bearing, double-row ball slewing ring bearing, and bi-angular roller or taper. The most commonly used design is the cross roller slewing ring bearing due to its properties such as high stiffness, accuracy, and load capacity.

The design includes two sets of crossed rollers that are arranged at right angles to each other. This design is needed for the required high axial and radial stiffness which allows for precise positioning and movement. The single-row four point contact ball slewing ring bearing is another significant segment of the industry. The US construction industry contributed approximately $802 billion in 2020 as per the Bureau of Economic Analysis.

The global Slewing Bearings market is segmented as follows:

By Product

  • Internal Gear Type Slewing Bearings
  • External Gear Type Slewing Bearings
  • Non-gear Type Slewing Bearings

By Rolling Element

  • Roller
  • Ball

By Applications

  • Construction & Transit Equipment
  • Renewable Equipment
  • Industrial Equipment
  • Medical Equipment

By Design

  • Double-Row Ball Slewing Ring Bearings
  • Cross Roller Slewing Ring Bearing
  • Four & Eight Point Contact Ball
  • Single-row Four Point Contact Ball Slewing Ring Bearing
  • Double-Row Ball Slewing Ring Bearings
  • Bi-Angular Roller or Taper

Browse the full “Slewing Bearings Market By Product (Internal Gear Type Slewing Bearings, External Gear Type Slewing Bearings, and Non-gear Type Slewing Bearings), By Rolling Element (Roller and Ball), By Applications (Construction & Transit Equipment, Renewable Equipment, Industrial Equipment, and Medical Equipment), By Design (Double-Row Ball Slewing Ring Bearings, Cross Roller Slewing Ring Bearing, Four & Eight Point Contact Ball, Single-row Four Point Contact Ball Slewing Ring Bearing, Double-Row Ball Slewing Ring Bearings, and Bi-Angular Roller or Taper), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.”-Report at https://www.zionmarketresearch.com/report/slewing-bearings-market

Competitive Landscape

Some of the main competitors dominating the global Slewing Bearings market include - 

  • SKF Group
  • Timken Company
  • ThyssenKrupp Rothe Erde GmbH
  • Schaeffler AG
  • NSK Ltd.
  • Liebherr-International AG
  • Kaydon Corporation
  • IMO Group
  • Rollix Defontaine S.A.
  • Antex GmbH
  • La Leonessa S.p.A.
  • Xuzhou Helin Slewing Bearing Co. Ltd.
  • SlewPro LLC
  • ZOLLERN GmbH & Co. KG
  • Fenghe Intelligent Technology Co. Ltd.
  • Bonfiglioli Riduttori S.p.A.
  • Jieheng Slewing Bearing Co. Ltd.
  • ISB Industries
  • Hengrui Technology Development Co. Ltd.
  • Suzhou Xinye Heavy Machinery Co. Ltd.
  • IMO USA Corp.
  • Kaydon Bearings
  • Kavitsu Robotronix Pvt. Ltd.
  • JOST Werke AG
  • Rotek Inc.

 Key Insights from Primary Research:

  • According to the analysis shared by our research forecaster, the Slewing Bearings market is likely to expand at a CAGR of around 5.90% during the forecast period (2023-2030).                  
  • In terms of revenue, the Slewing Bearings market size was valued at around US$ 4.27 billion in 2022 and is projected to reach US$ 6.74 billion by 2030.
  • The slewing bearings market is projected to grow at a significant rate due to the increasing demand for heavy machinery and equipment.
  • Based on product segmentation, external gear type slewing bearings was predicted to show maximum market share in the year 2022.
  • Based on application segmentation, construction & transit equipment was the leading application in 2022.
  • On the basis of region, North America was the leading revenue generator in 2022.

Have Any Query? Ask Our Experts: https://www.zionmarketresearch.com/inquiry/slewing-bearings-market

Key questions answered in this report:

  • What is the market size and growth rate forecast for Slewing Bearings industry?
  • What are the main driving factors propelling the Slewing Bearings Market forward?
  • What are the leading companies in the Slewing Bearings Industry?
  • What segments does the Slewing Bearings Market cover?
  • How can I receive a free copy of the Slewing Bearings Market sample report and company profiles?

Key Offerings:

  • Market Size & Forecast by Revenue | 2023−2030
  • Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
  • Market Segmentation – A detailed analysis By Product, By Rolling Element, By Applications, and By Design
  • Competitive Landscape – Top Key Vendors and Other Prominent Vendors

Request for Customization on this Report as per your requirements - https://www.zionmarketresearch.com/custom/7196

(We tailor your report to meet your specific research requirements. Inquire with our sales team about customising your report.)

Regional Analysis:

The global slewing bearings market is projected to register the highest CAGR in North America due to existing consumer databases across several end-user verticals such as construction and mining. The US is projected to lead with the highest regional market share. In Europe, the growth is likely to be driven by the increasing investment in renewable energy which is one of the largest consumers of slewing bearings. Countries such as the UK, France, and Germany are moving toward reducing dependence on nonrenewable sources of energy and the ongoing impact of the Russia-Ukraine market has further accelerated the intention of the regional ruling governments to move toward green energy. Other factors such as high demand in the construction sector are also beneficial to European revenue. In Asia-Pacific, China, Inda, Japan, Singapore, and South Korea are projected to stay ahead in terms of growth with increasing requirements of heavy machinery and components.

By Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • France
    • UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Recent Developments

  • In February 2023, Volvo Construction Equipment announced the expansion of its electric vehicle offerings by adding sustainable mid-size wheel loader
  • In February 2023, At STONA 2023, Tata Hitachi, a collaboration between the Hitachi Construction Machinery (HCM) and Tata Motors, showcased their powerful hydraulic excavators

To know an additional revised 2023 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/slewing-bearings-market

FREQUENTLY ASKED QUESTIONS

  • What is slewing bearings?
  • Which key factors will influence slewing bearings market growth over 2023-2030?
  • What will be the value of the slewing bearings market during 2023-2030?
  • What will be the CAGR value of the slewing bearings market during 2023-2030?
  • Which region will contribute notably towards the slewing bearings market value?
  • Which are the major players leveraging the slewing bearings market growth?

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