Slewing Bearing Market - Forecasts from 2018 to 2023
The slewing bearing market was valued at US$4.684 billion in 2017 and is projected to expand at a CAGR of 5.24% over the forecast period to reach US$6.364 billion by 2023. Slewing bearing is a large sized bearing specifically designed to accommodate oscillation movement. Slewing bearing is used in various application such as excavator, truck crane, aerial platform vehicle, and Ferris vehicle among others. Increasing focus towards efficiency of machinery to enhance the overall productivity and margins of an enterprise is increasing the demand for slewing bearing among the end users. Availability of a good number of manufacturers and service providers in the market is fuelling the adoption of these solutions among the end users. Continuous improvements in design of these bearings, brought about by heavy investments into research and development by major market players, are increasing the efficiency of these solutions, which is further fuelling their adoptions among the end-users, thus augmenting the market growth. North America and Europe hold a significant share in this market on account of mature industries in these regions. Asia Pacific is anticipated to show a rapid growth over the projected period. This growth will majorly be attributed to increasing investments by industry players in this region.
This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.
Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the slewing bearing value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.
Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the slewing bearing market.
Segments covered under the slewing bearing market report are as below:
By Gear Types
Cross Roller Slewing Ring Bearing
Bi-angular roller or Taper
Single-row Four Point Contact Ball Slewing Ring Bearing
Four and eight point contact ball
Three-row Roller Slewing Ring Bearings
Double-row Ball Slewing Ring Bearings
Middle East and Africa
Key industry players profiled as part of this report are Rollix, SKF and Kaydon Bearings among others.