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Slewing Bearing Market – By Gear Types (Ungeared, External Gear, Internal Gear), By Construction/Design (Single-row Four Point Contact Ball Slewing Bearings, Double-row Four Point Contact Ball Slewing Bearings, Cross Roller Slewing Bearings, Three-row Roller Slewing Bearings, Others (Roller/Ball Combination Bearings, Bi-Angular Roller Cylindrical or Taper Slewing Bearings)), By Rolling Element (Ball, Roller), By Application (Wind & Solar Energy, Robotic Equipment, Medical Equipment, Packaging, Mining, Marine Vessels, Material Handling Equipment, Water Treatment, Military, Communication Equipment, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2030
Slewing Bearing Market Overview:
Slewing Bearing Market Size is valued at $5.1 Billion by 2030, and is anticipated to grow at a CAGR of 3.5% during the forecast period 2024 -2030. The slewing bearings market is witnessing significant growth, driven by rising demand across various sectors, including construction, aerospace, and renewable energy. These bearings are essential components in heavy machinery, enabling smooth rotation and positioning. The increasing use of cranes, excavators, and wind turbines is fueling market expansion.
Innovations in material science and design are enhancing performance and durability, catering to the needs of modern applications. Geographically, Asia-Pacific dominates the market, propelled by rapid industrialization and infrastructure development. Overall, the slewing bearings market is poised for robust growth, with a focus on technological advancements and sustainability.
Market Snapshot:
Slewing Bearing Market - Report Coverage:
The “Slewing Bearing Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Slewing Bearing Market.
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Attribute |
Segment |
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By Gear Types |
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By Construction/Design |
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By Rolling Element |
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By Application |
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By Geography |
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COVID-19 / Ukraine Crisis - Impact Analysis:
- The COVID-19 pandemic significantly disrupted the slewing bearings market, causing supply chain interruptions and delays in production. Manufacturing facilities faced temporary shutdowns, leading to a decline in output and increased lead times. The construction and transportation sectors, major consumers of slewing bearings, experienced reduced activity due to lockdowns and economic uncertainty. However, the recovery phase has seen a rebound in demand, driven by infrastructure projects and a shift towards automation. As industries adapt to new norms, the market is gradually stabilizing, with an emphasis on innovation and resilience in the face of future challenges.
- The Russia-Ukraine war has had a notable impact on the slewing bearings market, primarily through supply chain disruptions and rising material costs. The conflict has affected the availability of raw materials, particularly steel, which is essential for manufacturing slewing bearings. This has led to increased production costs and delays in delivery schedules. Additionally, geopolitical tensions have reduced investments in the region, further straining market dynamics. Conversely, there is heightened demand for construction and repair equipment in war-affected areas, which may stimulate growth in certain segments of the market. Overall, the war underscores the need for resilient supply chains.
Key Takeaways:
- Growing Demand for External Gears in the Slewing Bearing Market
On the basis of gear types, external gears held the highest segmental market share of around 53.6% in 2023. External gear slewing bearings feature a toothed ring gear on the outer circumference, allowing engagement with a driving motor or actuator for smooth rotation. This design enhances control over rotational movement, essential for heavy-duty applications such as cranes, construction equipment, and aerospace, where load management and stability are critical. The demand for these bearings is fueled by their high torque capacity and ability to handle complex loading conditions—axial, radial, and tilting moments—ensuring precise movement. A notable advancement occurred on January 4, 2023, when igus launched a hygienically designed slewing ring bearing suitable for food-contact applications. This innovation allows for easy cleaning during use and eliminates the need for a separate cover, making it highly appealing in industries with stringent hygiene standards. This, in turn, increased demand in food processing and related sectors.
- Single-row Four Point Contact Ball Design Dominated the Slewing Bearing Market
On the basis of construction/design, single-row four point contact ball slewing bearings held the highest segmental market share of around 38.65% in 2023. Ungeared single-row four-point contact ball slewing bearings are vital for applications requiring stable and precise motion control in confined spaces. Their design, featuring a single row of balls and a four-point contact configuration, enables simultaneous handling of axial and radial loads, making them particularly suitable for construction machinery like cranes and excavators. The lightweight nature of these bearings enhances their appeal in industries focused on reducing machine weight without compromising durability or load capacity. The market for slewing bearings is experiencing significant growth, driven by increasing demand in the construction and mining sectors. In October 2022, the Liebherr Group secured a EUR 100 million (USD 101 million) order from MAXIKraft for new cranes and trade-ins, underscoring the rising utilization of slewing bearings in large-scale machinery. This trend reflects a broader expansion within the slewing bearings market, projected to reach approximately USD 7.5 billion by 2030.
- Ball Rolling Element Leads the Slewing Bearing Market
On the basis of rolling element, ball held the highest segmental market share of around 52.8% in 2023. Ball bearings are essential in the slewing bearings market, recognized for their ability to support axial and radial loads with minimal friction. Their compact design is ideal for applications with space limitations and high rotational speeds, ensuring operational efficiency through smooth motion and a low coefficient of friction. Industries such as construction, mining, and material handling extensively use ball slewing bearings in cranes, excavators, and wind turbines. The demand for precise, reliable, and long-lasting equipment has driven innovations in ball-bearing technology, including advancements in coating techniques and the use of advanced ceramic materials to enhance load capacity and corrosion resistance. Thyssenkrupp Rothe Erde offers robust and cost-effective slewing ball bearings for various applications, featuring designs that accommodate varying loads and tilting moments. The product range includes single and double-row bearings, four-point variants, and turntables, catering to the growing need for efficient solutions in heavy machinery and industrial applications.
- Material Handling Application Dominates the Slewing Bearing Market
On the basis of application, material handling held the highest segmental market share of around 28.98% in 2023. Slewing bearings are essential in material handling equipment, facilitating smooth rotation for tasks like lifting, moving, and stacking heavy loads. Commonly used in cranes, forklifts, and conveyor systems, they offer precise control and can withstand varying load capacities, ensuring durability during constant and repetitive movements. This durability enhances the stability and operational efficiency of equipment, contributing to faster and safer goods movement and driving market demand. With a growing emphasis on logistics efficiency and automation, there is an increasing demand for slewing bearings that offer reduced maintenance, enhanced load-carrying capacity, and improved shock resistance. This trend is propelling market growth as companies strive to optimize performance in material handling. A notable development occurred on May 13, 2022, when Expertise, a leading industrial service provider in Saudi Arabia, placed the largest order in 15 years for 79 Tadano all-terrain cranes, underscoring the rising demand for superior cranes and slewing bearings.
- Growing Demand for Slewing Bearing Market Due to Increasing Infrastructure Investment
Infrastructure investment is a key driver in the slewing-bearing market, significantly impacting sectors such as construction, transportation, and energy. As global construction investments rise—especially in emerging economies—demand for high-capacity slewing bearings is expected to grow. For instance, China's Belt and Road Initiative and the U.S. Infrastructure Investment and Jobs Act are enhancing the need for heavy machinery components. The rapid expansion of renewable energy, particularly in wind power, further stimulates market growth due to the need for specialized bearings in large turbine rotors. In November 2024, Haryana, a state in India, approved $29.6 million for Gurugram’s infrastructure, emphasizing the need for reliable machinery in urban projects. Additionally, U.S. construction spending reached $2.15 trillion in September 2024, a 4.6% increase from the previous year. These trends drive manufacturers to invest in advanced materials and technologies, improving performance and reducing maintenance costs in the slewing-bearing sector.
- Negative Impact on the Slewing Bearing Market Due to High Production Costs
High production costs significantly constrain the slewing-bearing market, primarily driven by volatile raw material prices and complex manufacturing processes. High-grade steel, crucial for slewing bearings, constitutes a substantial portion of production costs. Fluctuations in steel prices, influenced by global supply-demand dynamics and trade policies, create uncertainty, often compelling manufacturers to increase prices to sustain margins. Manufacturing involves intricate steps such as billet forging, ring rolling, machining, heat treatment, and precision assembly, each requiring specialized machinery and skilled labor, which further elevates expenses. The rising costs of stainless steel and other materials challenge profitability and may hinder market growth. Additionally, regulatory requirements for quality assurance necessitate advanced testing, increasing production time and costs. These factors collectively render it difficult for manufacturers to lower prices, particularly in price-sensitive regions, limiting market adoption and slowing innovation while intensifying competition from lower-cost alternatives.
Key Market Players:
Product launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Slewing Bearing Market. The top 10 companies in this industry are listed below:
- Thyssenkrupp Group
- Schaeffler AG
- SKF Group
- NSK LTD
- The Timken Company
- NTN Corporation
- JTEKT Corporation
- Defontaine Group
- Liebherr Group
- RBC Bearings Incorporated
Scope of the Report:
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Details |
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Base Year Considered |
2023 |
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Forecast Period |
2024-2030 |
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CAGR |
3.5% |
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Market Size in 2030 |
$ 5.1 billion |
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Segments Covered |
By Gear Types, By Construction/Design, By Rolling Element, By Application, and By Region |
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Regions Covered |
North America (USA, Canada, and Mexico), Europe (UK, Germany, France, Italy, Netherlands, Spain, Russia, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Malaysia, and Rest of APAC), South America (Brazil, Argentina, Colombia, Chile, and Rest of South America), and Rest of the World (Middle East, and Africa). |
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Key Market Players |
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