Slewing Bearing Market to Reach $7.2 Billion, Globally, by 2033 at 5.3% CAGR: AMR

Advancements in durable, high-precision slewing bearings drive demand, meeting the need for reliable rotational mechanisms in automation and robotics.

WILMINGTON, DE, UNITED STATES, February 13, 2025 /EINPresswire.com/ -- Allied Market Research published a report, titled, "Slewing Bearing Market by Type (Tapered Roller Bearing, Tapered Roller Bearing, Ball Bearings and Combined Roller and Ball Bearings), Gear Ring (Ball and Roller), Gear Type (Internal Gear, Ungeared and External Gear), and Application (Heavy-Duty Machinery, Wind Turbines, Mining Equipment, Robotics Equipment, Medical Diagnostic Equipment and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the slewing bearing market was valued at $4.3 billion in 2023, and is estimated to reach $7.2 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.

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Prime determinants of growth
As industries increasingly adopt automation to enhance efficiency, precision, and productivity, the need for reliable and high-performance components such as slewing bearings has grown. These bearings play a crucial role in the rotational movement of robotic arms, automated machinery, and various other industrial equipment. All these factors are expected to drive the demand for the slewing bearing market.

The roller bearings segment is expected to experience the fastest growth throughout the forecast period.
By type, the roller bearings segment held the highest market share in 2023 and is estimated to maintain its leadership status throughout the forecast period. Roller bearings dominance is due to their ability to handle heavy loads and provide high rotational precision, that makes them ideal for demanding applications in industries such as construction, wind energy, and heavy machinery. Roller bearings, including both cross-roller and cylindrical roller types, are preferred in situations where the bearing needs to support both axial and radial loads simultaneously.

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The ball segment is expected to experience the fastest growth throughout the forecast period.
Based on the gear ring, the ball segment held the highest market share in 2023 and is estimated to dominate during the forecast period. Ball dominance is largely due to the versatility and wide application range of ball gear ring bearings. They are often used in applications where lower friction, high rotational speed, and smooth operation are critical, such as in cranes, excavators, and smaller wind turbines.

The external gear segment is expected to experience the fastest growth throughout the forecast period
Based on the gear type, the external gear segment held the highest market share in 2023 and is estimated to dominate during the forecast period. External gear slewing bearings are favored for their ability to handle high radial and axial loads, as well as their ease of integration into various applications. They are commonly used in heavy machinery, cranes, and construction equipment where high load capacities and durability are essential. The external gear design provides effective load distribution and ensures smooth operation, making it a preferred choice for many industrial applications.

The wind turbine segment is expected to experience the fastest growth throughout the forecast period
Based on the application, the wind turbine segment held the highest market share in 2023 and is estimated to dominate during the forecast period. Wind turbine application is dominant owing to the increasing demand for renewable energy, especially wind energy, which drives the production and installation of wind turbines globally. Slewing bearings are critical components in wind turbines, used in the blade pitch and yaw systems to optimize the efficiency and reliability of the turbines.

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Asia-Pacific is expected to experience fastest growth throughout the forecast period
Based on region, is the fastest growing region in terms of revenue in 2023. As countries in this region, particularly China, Japan, South Korea, and India, rapidly expand their industrial and manufacturing capabilities, there is an increasing reliance on automation and robotics to enhance efficiency and productivity. Slewing bearings, essential for enabling smooth rotational motion in heavy machinery and robotic arms, are in high demand as these industries prioritize precision, durability, and reliability in their operations.

Leading Market Players: -
• Kaydon Corporation
• NTN Corporation
• Rotek Inc.
• SKF (India) Ltd
• Jiangsu Liangang Slewing Bearing Co., Ltd.
• Harmonic Drive LLC
• Schaeffler India Limited
• The Timken Company
• NSK Ltd
• ABC Bearings
• igus GmbH

The report provides a detailed analysis of these key players in the global slewing bearing market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

David Correa
Allied Market Research
+15038946022 ext.
help@alliedmarketresearch.com
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