Slewing Bearing Market
Slewing Bearing Market Forecasts to 2030 - Global Analysis By Type (Ball Bearings, Roller Bearings, Tapered Bearings, Needle Bearings and Other Types), Material Type, Gear Type, Design, Application, End User and By Geography
According to Stratistics MRC, the Global Slewing Bearing Market is accounted for $4.5 billion in 2024 and is expected to reach $6.5 billion by 2030 growing at a CAGR of 6.3% during the forecast period. A slewing bearing, also known as a turntable bearing, is a large, specialized bearing designed to support rotational movement between two components. It allows a heavy load to rotate with minimal friction, typically in applications requiring slow, controlled movement like cranes, excavators, wind turbines, and radar systems. Slewing bearings consist of an inner and outer ring, rolling elements (such as balls or rollers), and a raceway. Their unique design enables them to handle combined loads, including axial, radial, and moment loads, making them essential for machinery that needs precision and stability during rotation.
According to the International Renewable Energy Agency, Asia Pacific is expected to grow its share of installed capacity for onshore wind from 230 Gigawatt (GW) in 2018 to over 2600 GW by 2050. The region is likely to account for more than 50% of global onshore wind power installations by 2050, followed by North America (23%) and Europe (10%).
Market Dynamics:
Driver:
Increased industrial machinery usage
The increasing use of industrial machinery across sectors like construction, mining, and renewable energy is driving growth in the slewing bearing market. As industries demand more efficient and heavy-duty equipment, slewing bearings provide critical support for machinery that requires precise, stable rotational movement. With applications in cranes, excavators, and wind turbines, the rise in automation and infrastructure development further fuels the demand for these specialized bearings, expanding their market presence.
Restraint:
Environmental concerns
Environmental concerns are negatively impacting the market, as increasing pressure for sustainability drives industries to adopt greener technologies. This results in stricter regulations on manufacturing processes, material sourcing, and waste management. Companies face challenges in balancing performance with eco-friendly practices, leading to higher production costs. Additionally, the growing emphasis on reducing carbon footprints can slow the adoption of slewing bearings in certain sectors, hindering market growth.
Opportunity:
Expansion of infrastructure and construction
The expansion of infrastructure and construction projects globally is significantly boosting the market. As large-scale developments such as bridges, high-rise buildings, and transportation networks grow, the demand for machinery like cranes, excavators, and earth movers increases. Slewing bearings, essential for stable and efficient rotation in these heavy machines, are crucial to these operations. This surge in infrastructure projects accelerates the market growth for slewing bearings, driving innovation and demand.
Threat:
High production costs
High production costs are a significant challenge for the market, as they can lead to increased prices for end-users. Factors such as the cost of raw materials, advanced manufacturing techniques, and labor contribute to these elevated expenses. As a result, manufacturers may face pressure to balance quality and cost-effectiveness, potentially limiting their competitive edge. This can also deter small and medium-sized enterprises from adopting slewing bearings in their machinery.
Covid-19 Impact:
The COVID-19 pandemic had a considerable impact on the market, disrupting supply chains and halting production in many industries. Reduced demand from sectors like construction, automotive, and renewable energy due to lockdowns and economic slowdowns slowed market growth. Additionally, delays in manufacturing, material shortages, and labor shortages further affected the timely delivery of slewing bearings. However, recovery in infrastructure and industrial sectors is gradually driving market rebound.
The ball bearings segment is expected to be the largest market share during the forecast period
The ball bearings segment is expected to account for the largest market share during the forecast period due to their ability to reduce friction and enable smooth rotational movement. In slewing bearings, ball bearings are used between the inner and outer rings, providing support for axial, radial, and moment loads. Their compact design, high load capacity, and durability make them ideal for heavy machinery applications like cranes, excavators, and wind turbines, contributing significantly to the market's growth.
The industrial equipment segment is expected to have the highest CAGR during the forecast period
Over the forecast period, the industrial equipment segment is predicted to witness the highest growth rate as these bearings are essential for machinery that requires precise, stable rotational movement. Applications in cranes, excavators, and earth movers demand slewing bearings for their ability to handle heavy loads and provide durability. As industries like construction, mining, and material handling expand, the need for reliable slewing bearings in industrial equipment grows, supporting market growth.
Region with largest share:
During the forecast period, the North America region is expected to hold the largest market share. The region's focus on infrastructure development and automation further boosts market expansion. Additionally, the growing adoption of wind turbines and advanced industrial equipment requires high-performance slewing bearings. Key manufacturers in the U.S. and Canada are investing in innovation, enhancing the market's competitiveness and growth potential.
Region with highest CAGR:
Over the forecast period, the Asia Pacific region is anticipated to exhibit the highest CAGR. The region's growing renewable energy sector, especially wind energy, is a major driver, as slewing bearings are critical components in wind turbine generators. In addition, the expanding construction and mining sectors, which require heavy machinery for large-scale projects, are also boosting the market's expansion. Additionally, the growing investments in infrastructure and transportation networks in emerging economies are expected to propel the market's growth.
Key players in the market
Some of the key players in Slewing Bearing market include SKF Group, Schaeffler AG, The Timken Company, Kaydon Corporation, Emerson Bearing Company, Liebherr Group, Thyssenkrupp AG, RKB Bearings, SPM Instrument, TGB Group, Rexnord Corporation, IMO Group, NSK Ltd., Potesta & Company, LLC and Galperti Group.
Key Developments:
In October 2024, Thyssenkrupp and TITAN Group today in the Greek capital Athens a Front-End Engineering Design (FEED) contract for the Carbon Capture Project IFESTOS. IFESTOS is one of the largest carbon capture projects in Europe, enabling the production of zero-carbon cement and concrete.
In September 2024, Schaeffler and Alstom signed strategic partnership agreement for further development in area of rail transport. Schaeffler is a partner for rolling bearing technology in the Alstom Alliance™ program. Schaeffler has supplied Alstom for many years with axlebox bearings along with housings, drive bearings for rail vehicle gearboxes and motors, and slewing rings for metro trains and trams.
Types Covered:
• Ball Bearings
• Roller Bearings
• Tapered Bearings
• Needle Bearings
• Other Types
Material Types Covered:
• Steel
• Stainless Steel
• Polymer
• Titanium
Gear Types Covered:
• Internal Gear
• External Gear
• Ungeared
Designs Covered:
• Single Row Ball Slewing Bearings
• Double Row Ball Slewing Bearings
• Four-Point Contact Ball Slewing Bearings
• Crossed Roller Slewing Bearings
• Triple Row Roller Slewing Bearings
Applications Covered:
• Heavy-Duty Machinery
• Wind Turbines
• Mining Equipment
• Robotics Equipment
• Medical Diagnostic Equipment
• Industrial Equipment
• Other Applications
End Users Covered:
• Construction
• Aerospace and Defense
• Mining
• Robotics
• Military
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Slewing Bearing Market, By Type
5.1 Introduction
5.2 Ball Bearings
5.3 Roller Bearings
5.4 Tapered Bearings
5.5 Needle Bearings
5.6 Other Types
6 Global Slewing Bearing Market, By Material Type
6.1 Introduction
6.2 Steel
6.3 Stainless Steel
6.4 Polymer
6.5 Titanium
7 Global Slewing Bearing Market, By Gear Type
7.1 Introduction
7.2 Internal Gear
7.3 External Gear
7.4 Ungeared
8 Global Slewing Bearing Market, By Design
8.1 Introduction
8.2 Single Row Ball Slewing Bearings
8.3 Double Row Ball Slewing Bearings
8.4 Four-Point Contact Ball Slewing Bearings
8.5 Crossed Roller Slewing Bearings
8.6 Triple Row Roller Slewing Bearings
9 Global Slewing Bearing Market, By Application
9.1 Introduction
9.2 Heavy-Duty Machinery
9.3 Wind Turbines
9.4 Mining Equipment
9.5 Robotics Equipment
9.6 Medical Diagnostic Equipment
9.7 Industrial equipment
9.8 Other Applications
10 Global Slewing Bearing Market, By End User
10.1 Introduction
10.2 Construction
10.3 Aerospace and Defense
10.4 Mining
10.5 Robotics
10.6 Military
10.7 Other End Users
11 Global Slewing Bearing Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 SKF Group
13.2 Schaeffler AG
13.3 The Timken Company
13.4 Kaydon Corporation
13.5 Emerson Bearing Company
13.6 Liebherr Group
13.7 Thyssenkrupp AG
13.8 RKB Bearings
13.9 SPM Instrument
13.10 TGB Group
13.11 Rexnord Corporation
13.12 IMO Group
13.13 NSK Ltd.
13.14 Potesta & Company, LLC
13.15 Galperti Group
List of Tables
1 Global Slewing Bearing Market Outlook, By Region (2022-2030) ($MN)
2 Global Slewing Bearing Market Outlook, By Type (2022-2030) ($MN)
3 Global Slewing Bearing Market Outlook, By Ball Bearings (2022-2030) ($MN)
4 Global Slewing Bearing Market Outlook, By Roller Bearings (2022-2030) ($MN)
5 Global Slewing Bearing Market Outlook, By Tapered Bearings (2022-2030) ($MN)
6 Global Slewing Bearing Market Outlook, By Needle Bearings (2022-2030) ($MN)
7 Global Slewing Bearing Market Outlook, By Other Types (2022-2030) ($MN)
8 Global Slewing Bearing Market Outlook, By Material Type (2022-2030) ($MN)
9 Global Slewing Bearing Market Outlook, By Steel (2022-2030) ($MN)
10 Global Slewing Bearing Market Outlook, By Stainless Steel (2022-2030) ($MN)
11 Global Slewing Bearing Market Outlook, By Polymer (2022-2030) ($MN)
12 Global Slewing Bearing Market Outlook, By Titanium (2022-2030) ($MN)
13 Global Slewing Bearing Market Outlook, By Gear Type (2022-2030) ($MN)
14 Global Slewing Bearing Market Outlook, By Internal Gear (2022-2030) ($MN)
15 Global Slewing Bearing Market Outlook, By External Gear (2022-2030) ($MN)
16 Global Slewing Bearing Market Outlook, By Ungeared (2022-2030) ($MN)
17 Global Slewing Bearing Market Outlook, By Design (2022-2030) ($MN)
18 Global Slewing Bearing Market Outlook, By Single Row Ball Slewing Bearings (2022-2030) ($MN)
19 Global Slewing Bearing Market Outlook, By Double Row Ball Slewing Bearings (2022-2030) ($MN)
20 Global Slewing Bearing Market Outlook, By Four-Point Contact Ball Slewing Bearings (2022-2030) ($MN)
21 Global Slewing Bearing Market Outlook, By Crossed Roller Slewing Bearings (2022-2030) ($MN)
22 Global Slewing Bearing Market Outlook, By Triple Row Roller Slewing Bearings (2022-2030) ($MN)
23 Global Slewing Bearing Market Outlook, By Application (2022-2030) ($MN)
24 Global Slewing Bearing Market Outlook, By Heavy-Duty Machinery (2022-2030) ($MN)
25 Global Slewing Bearing Market Outlook, By Wind Turbines (2022-2030) ($MN)
26 Global Slewing Bearing Market Outlook, By Mining Equipment (2022-2030) ($MN)
27 Global Slewing Bearing Market Outlook, By Robotics Equipment (2022-2030) ($MN)
28 Global Slewing Bearing Market Outlook, By Medical Diagnostic Equipment (2022-2030) ($MN)
29 Global Slewing Bearing Market Outlook, By Industrial equipment (2022-2030) ($MN)
30 Global Slewing Bearing Market Outlook, By Other Applications (2022-2030) ($MN)
31 Global Slewing Bearing Market Outlook, By End User (2022-2030) ($MN)
32 Global Slewing Bearing Market Outlook, By Construction (2022-2030) ($MN)
33 Global Slewing Bearing Market Outlook, By Aerospace and Defense (2022-2030) ($MN)
34 Global Slewing Bearing Market Outlook, By Mining (2022-2030) ($MN)
35 Global Slewing Bearing Market Outlook, By Robotics (2022-2030) ($MN)
36 Global Slewing Bearing Market Outlook, By Military (2022-2030) ($MN)
37 Global Slewing Bearing Market Outlook, By Other End Users (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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