Global Slewing Bearing Market Size study & Forecast, by Rolling Element (Ball, Roller) by Gear Type (Internal, External, Ungeared) by Application (Wind and Solar Energy, Aerospace and Defense, Medical, Others) and Regional Analysis, 2022-2029

Global Slewing Bearing Market Size study & Forecast, by Rolling Element (Ball, Roller) by Gear Type (Internal, External, Ungeared) by Application (Wind and Solar Energy, Aerospace and Defense, Medical, Others) and Regional Analysis, 2022-2029

Global Slewing Bearing Market is valued at approximately USD 4,025.1 million in 2021 and is anticipated to grow with a healthy growth rate of more than 5.4% over the forecast period 2022-2029. A sleeping bearing is a large bearing that allows for rotational movement between two parts of a machine. It consists of two rings, an inner and an outer ring, with rolling elements between them. The Slewing Bearing market is expanding because of factors such as the rise in urbanization and growing industrialization.

Slewing bearings are commonly used in heavy equipment and machinery, such as cranes, excavators, wind turbines, and solar trackers. They are designed to support heavy loads and withstand high radial, axial, and moment loads. Its prevalence has progressively increased during the last few decades. According to the World Bank Organization, Cities house approximately 56% of the world's population This trend is predicted to continue, with the urban population exceeding twofold by 2050. Furthermore, urban land consumption is predicted to exceed population growth by up to 50% by 2030, adding 1.2 million km2 of new urban built-up area to the planet. Another important component driving space increase is industrialization. According to United Nations, Global manufacturing production grew by 7.2% in 2021, surpassing its pre-pandemic level. The global share of manufacturing value added to total GDP is around 16.9% in 2021. In addition, in 2019, Europe and Northern America, medium- and high-tech manufacturing accounted for 47.7% of overall manufacturing, compared to 21.4% in Sub-Saharan Africa and 10.5% in least developed countries. Also, rising technological advancement in bearing technology and the growing prominence of the infrastructure industry would create a lucrative growth prospectus for the market over the forecast period. However, the high cost and lack of inappropriate resources for Slewing Bearing stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Slewing Bearing Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the major regional market players increasing their investments and the significant increase in construction activity in the United States is expected to drive growth. According to Statista, the private sector construction spending in United States has surpassed valuation of USD 1.4 trillion in 2021. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as increasing activities of the projects such as renewable energy and construction projects in Asian countries such as India, China, and South Korea.

Major market player included in this report are:
Antex corp
IMO Group
Italcuscinetti S.p.A. a Socio Unico
Liebherr-International AG
NTN Corporation
Schaeffler Technologies AG and Co. KG
SKF Group
Thyssenkrupp rothe erde Germany GmbH
THE TIMKEN COMPANY
Emerson Bearing Company

Recent Developments in the Market:
 In January 2023, Liebherr, a crane manufacturer, collaborated with Krank, a UK-based software-as-a-service provider, to develop a virtual used equipment global market for specific product segments.



Global Slewing Bearing Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Rolling Element, Gear Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

by Rolling Element
Ball
Roller

by Gear Type
Internal
External
Ungeared

by Application
Wind and Solar Energy
Aerospace and Defense
Medical
Other


By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned
Antex corp
IMO Group
Italcuscinetti S.p.A. a Socio Unico
Liebherr-International AG
NTN Corporation
Schaeffler Technologies AG and Co. KG
SKF Group
Thyssenkrupp rothe erde Germany GmbH
THE TIMKEN COMPANY
Emerson Bearing Company

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