Slewing Drives Market Trends

  • Report ID: 5884
  • Published Date: Oct 22, 2024
  • Report Format: PDF, PPT

Slewing Drives Market Trends

Growth Drivers

  • Rising Usage in Construction Industry - To power construction equipment that is subject to large loads and varied operation, slewing drives are created by constructing gearing, bearings, seals, housing, motors, and other auxiliary components, which are utilized in cranes, excavators, and other construction machinery. As a result, the machinery can carry out operations such as lifting and digging more effectively and offer precise and smooth rotation.
  • Growing Mining Sector- Applications requiring both stress loading resistance and high torque capacity are best suited for slewing drive systems, therefore mining machinery including excavators, conveyors, and crushers employ slewing drives, which makes it possible for the machinery to move, crush, and excavate ore more effectively.
  • Rising Applications in Maritime Industry- In nautical equipment including cranes, winches, and davits, a gearbox known as a slewing drive is employed as it enables machinery to carry out operations including lifting and arranging big weights.
  • Expanding Agricultural Activities- Agronomic machinery such as sprayers, harvesters, and irrigation systems employ slewing drives since it makes it possible for the machinery to work more effectively, boost the productivity of forestry and agricultural equipment, and allow maximal rotational accuracy and highly precise positioning.
  • Surging Aerospace and Defense Industry- A slew drive is a gearbox designed to handle radial or axial loads that are used in military and aerospace equipment such as radar systems and missile launchers to track targets and move in a controlled manner. Besides this, they are also used in satellite dishes and solar panels on space missions.
  • Slewing Drives in Robotics and Automation- Slewing drives also find uses in robotic systems and other automated equipment as they allow for the controlled movements required in the automation sector.

Challenges

  • Prone to failure- Additionally prone to failure, slewing ring bearings can cause expensive downtime, damage to equipment, and safety risks often caused by improper installation, shortage of lubrication in the bearing, lack of maintenance, and corrosion.
  • Exorbitant installation costs can result in delays in procurement
  • Stringent regulatory standards can increase the overall cost of production and complexity

Slewing Drives Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

4.5%

Base Year Market Size (2024)

USD 2.36 billion

Forecast Year Market Size (2037)

USD 4.18 billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:


Author Credits:  Richa Gupta


  • Report ID: 5884
  • Published Date: Oct 22, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of slewing drives is estimated at USD 2.44 billion.

Slewing Drives Market size was over USD 2.36 billion in 2024 and is poised to cross USD 4.18 billion by the end of 2037, witnessing more than 4.5% CAGR during the forecast period i.e., between 2025-2037. The growing demand for energy across the globe and the growing adoption of renewable energy sources will drive the market growth.

Asia Pacific industry is likely to account for largest revenue share of 35% by 2037, impelled by growing spending in construction activities in the region.

The major players in the market are Cone Drive Operations Inc., Cleveland Gear Company, Inc., Kavitsu Bearings, TGB Group Technologies, EngNetGlobal, IMO Holding GmbH, Young Powertech Inc., and others.
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