The
Report "Slewing Bearings Market -
By Gear Types (Ungeared, External Gear, Internal Gear); By Construction
(Single-row Four Point Contact Ball, Cross roller, Double roller); By
Applications (Excavation, Medical, Turbines) Forecast (2015 - 2020)",
Published By IndustryARC; the market is estimated to increase to $4.2 Billion
by 2020 at a CAGR of 6.9%
Browse
31 Market Tables & 56 Figures spread through 169 Pages and an in-depth TOC
on "Slewing Bearings Market" http://industryarc.com/Report/6346/Slewing-Bearings-Market-Research-Report.html
Slewing bearings are
key static structural components in a machine which help in transmitting axial,
radial and tilting moment loads by facilitating the movement of the devices. These
bearings are used in a number of equipment such as cranes, wind turbines, excavators and many more. The advantage is
that they handle all types of loads in one assembly and thus compensates need
for other rotational design.
UNDERSTANDING
THE MARKET PULSE
The
market for slewing bearings has been
growing consistently over the years. With rising demand from different
industries, this market is projected to showcase prominent growth in the coming
years as well, representing a substantial opportunity for bearing manufacturers
and suppliers. The key factors driving
the market growth are:
Rising
demand from end-use industries
The
slewing bearings are deployed in extensive range of industries:
- Construction
- Excavation
- Marine
- Mining
- Solar & Wind
- Medical and so on.
Each
end use industry exhibits different demand patterns. The construction,
excavation, and wind turbine industries are the established end users of the slewing bearings and holds significant
market value. In this market, the demand is set to increase with notable development in the marine, robotic,
water treatment and solar sectors. The renewable
energy segment is one of the most profitable markets as many countries are initiating
world-class projects to harness large amount of energy. By 2020, the worldwide solar energy production is estimated to touch
2,000 billion MWH. Egypt aims to generate 4,300 MW of energy by installing solar
and wind energy plants in the next three years and increase renewable energy share in the overall
energy consumption to around 20% by 2020. Moreover, the technologically
advanced country, Japan, is building floating solar stations to overcome land
unavailability. Kyocera, electronics giant of the country, plans to build many
of such stations to realize the dream of doubling the solar energy capacity by
2030. These plants approximately employ 9,100 solar panels, which in turn, is
estimated to employ two to three slewing bearings.
Additionally,
slewing bearings are estimated to excel with demand from marine vessels. The demand for offshore vessels is pouring
from Middle East and African regions. In these regions, the rise in sea trade
and offshore oil and gas activities is steering the demand and is expected to
consequently create demand for slewing
bearings.
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Product
Innovations:
The
slewing bearing serve the purpose of providing rotational movement to the upper
structure of the equipment it is employed. The unique features of this
component is facilitating companies to create remarkable products, disrupting
various industries. In 2014, SKF Group developed a noteworthy product that is
inspired by the movement of human wrist. The product Double-row slewing-type pitch bearing is an innovative pitch system
without rolling element. This product enhances pitch system reliability,
reduced drive system size and has lower peak internal friction. Furthermore, it
also drives down cost of the energy. These innovative products will be the
stepping stones to the market growth.
WHAT
IS IN THE STORE FOR STAKEHOLDERS
Opportunities: The
market is currently characterized by a large number of regional and local players.
However, with key players striving to take over majority of the market share
investing into R&D and forming meaningful partnerships, the market may
witness innovative products with cheaper prices and longer life. Also, the
suppliers with good distribution channels and quality products can make maximum
use of the mounting demand in the end use industries.
Customize
the Report at: http://industryarc.com/requestcustomization.aspx?id=6346
Challenges:
The
crucial challenge for the players is the threat of replacement for slewing
bearing. The slewing bearing and roller
bearing have similar functionality and both can be substituted for the other.
Cheaper cost of slewing bearing is driving the adoption currently and the
companies need to raise the bar in order to reap the benefits from the demand.
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About
IndustryARC:
IndustryARC
is a research and consulting firm that publishes more than 500 reports annually
in various industries, such as Agriculture, Automotive, Automation & Instrumentation,
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