Slewing Drives Market Size & Share, by Axis Type (Single, Double); Load (Axial, Radial); Gear (Worm, Spur); Application (Solar Tracker, Man Lifts, Wind Turbines, Hydraulic Machinery, Cranes, Drilling Equipment); Distribution Channel (Direct, Indirect) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5884
  • Published Date: Mar 18, 2024
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Slewing Drives Market size is poised to reach USD 6 Billion by the end of 2036, growing at a CAGR of 6% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of slewing drives was USD 3 Billion. The reason behind the growth is impelled by the growing demand for energy across the globe. It is likely that with the growing population coupled with rapid urbanization, and economic expansion, the world's energy consumption is rising annually. For instance, by 2050, global demand is expected to reach over 650 quadrillion Btu, an increase of around 14% from 2021.The growing adoption of renewable energy sources is believed to fuel the slewing drives market growth. The increased awareness of solar and wind energy among consumers is driving growth in the slewing drives as they are considered as extremely important for maximizing the energy output of renewable energy sources.


Slewing Drives Market Size
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Slewing Drives Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Usage in Construction Industry - To power construction equipment that is subject to large loads and varied operation, slewing drives are created by constructing gearing, bearings, seals, housing, motors, and other auxiliary components, which are utilized in cranes, excavators, and other construction machinery. As a result, the machinery can carry out operations such as lifting and digging more effectively and offer precise and smooth rotation.
  • Growing Mining Sector- Applications requiring both stress loading resistance and high torque capacity are best suited for slewing drive systems, therefore mining machinery including excavators, conveyors, and crushers employ slewing drives, which makes it possible for the machinery to move, crush, and excavate ore more effectively.
  • Rising Applications in Maritime Industry- In nautical equipment including cranes, winches, and davits, a gearbox known as a slewing drive is employed as it enables machinery to carry out operations including lifting and arranging big weights.
  • Expanding Agricultural Activities- Agronomic machinery such as sprayers, harvesters, and irrigation systems employ slewing drives since it makes it possible for the machinery to work more effectively, boost the productivity of forestry and agricultural equipment, and allow maximal rotational accuracy and highly precise positioning.
  • Surging Aerospace and Defense Industry- A slew drive is a gearbox designed to handle radial or axial loads that are used in military and aerospace equipment such as radar systems and missile launchers to track targets and move in a controlled manner. Besides this, they are also used in satellite dishes and solar panels on space missions.
  • Slewing Drives in Robotics and Automation- Slewing drives also find uses in robotic systems and other automated equipment as they allow for the controlled movements required in the automation sector.

Challenges

  • Prone to failure- Additionally prone to failure, slewing ring bearings can cause expensive downtime, damage to equipment, and safety risks often caused by improper installation, shortage of lubrication in the bearing, lack of maintenance, and corrosion.
  • Exorbitant installation costs can result in delays in procurement
  • Stringent regulatory standards can increase the overall cost of production and complexity

Slewing Drives Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~6%

Base Year Market Size (2023)

~ USD 3 Billion

Forecast Year Market Size (2036)

~ USD 6 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Slewing Drives Segmentation

Application (Solar Tracker, Man Lifts, Wind Turbines, Hydraulic Machinery, Cranes, Drilling Equipment)

The solar tracker segment in the slewing drives market is estimated to gain a robust revenue share of 40% in the coming years owing to the growing need for solar energy. The need for solar energy is anticipated to proceed as more people and businesses look for renewable vitality sources to diminish their carbon impression and since numerous governments around the world have actualized approaches and motivations to empower the usage of solar energy. According to Solar PV generation expanded by a record of more than 250 TWh in 2022, coming to around 1, 200 TWh. This has led to an increase in the demand for solar trackers which are often used to maximize the efficiency of solar energy capture and can boost energy production by anywhere from 15 to 35%.

A slew (slewing) drive is a piece of machinery, which are used in solar trackers, to position solar panels to track the movement of the sun to improve efficiency and decrease the cost of solar power systems. Moreover, in solar photovoltaic power generation, a slew drive is required to regulate the horizontal rotation and pitch angle of the photovoltaic panel, and similarly, for solar thermal power generation, a slew drive is often required to adjust the position of the flat mirror plate.

In addition, Man lifts, also known as aerial lifts or boom lifts, are machines that allow workers to perform tasks safely and efficiently at heights, and also aid in enhancing efficiency and provide greater horizontal outreach compared to any other type of aerial platform. A man-lift slew drive contains bearing, rotation, and motion control, which also uses a simple design to deliver high horsepower and torque to offer impressive longevity and allow man-lift crane hydraulics to carry several weights and reach diverse heights.

Gear (Worm, Spur)

The worm segment in the slewing drives market is set to garner a notable share shortly. slewing drives are an update to worm drive mechanisms, which are characterized by their high-power density and are well-suited for heavy-duty applications such as loading cranes. In addition, a spur gear slew drive is also referred to as a gear slewing reducer, which is a new type of slewing bearing product, usually composed of pinion gears, slewing bearings, housings, motors, or electric motors.

Our in-depth analysis of the global slewing drives market includes the following segments:

           Axis Type

  • Single
  •  Double

           Load

  • Axial
  •  Radial

           Gear

  • Worm
  •  Spur

           Application

  • Solar Tracker
  •  Man Lifts
  •  Wind Turbines
  •  Hydraulic Machinery
  • Cranes
  •  Drilling Equipment

          Distribution Channel

  • Direct
  •  Indirect

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Slewing Drives Industry - Regional Synopsis

APAC Market Forecast

Slewing drives market in Asia Pacific is predicted to account for the largest share of 35% by 2036 impelled by the growing spending in construction activities. One of the largest and fastest-growing economic sectors in India is the building sector. The increase in government infrastructure spending has increased emphasis on infrastructure development in India which has led to a continuous surge in construction equipment demand and is expected to contribute to the economic development of the country. For instance, in 2022, foreign direct investment (FDI) in India's construction and infrastructure activities was over USD 3,245 million.

In addition, India is a global agricultural powerhouse, which has a particularly large agricultural industry in the Indian economy, which has also rapidly emerged as a net exporter of agricultural products in recent years.

According to estimates, the Indian agriculture sector increased by over 3% between 2022-23.

North American Market Statistics

The North America slewing drives market is estimated to be the second largest, during the forecast period led by the growing rate of urbanization. This has led to an increase in construction and industrial activities, which is expected to drive the demand for slewing drives.

For instance, lately, Canada's urban population accounts for more than 75% of its total population.

Research Nester
Slewing Drives Market
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Companies Dominating the Slewing Drives Market

top-features-companies
    • Dana SAC UK Ltd.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Cone Drive Operations Inc.
    • The Timken Company
    • Cleveland Gear Company, Inc.
    • Kavitsu Bearings
    • TGB Group Technologies
    • EngNetGlobal
    • KPI Green Energy Ltd

In-the-news

In The News

  • The Timken Company a global manufacturer of bearings and power transmission products announced to provide slewing drives for the second-largest photovoltaic (PV) solar tracking system project to improve the performance and reliability of solar tracking systems and develop a more efficient and resilient world.
  • KPI Green Energy Ltd announced that it has obtained a new solar power project which is to be completed by the end of 2025 in several parts.
  • Aquila Group announced an investment in battery storage and onshore wind power opportunities to expand its usage of renewable energy sources and meet its goal of achieving carbon neutrality.

Author Credits:  Rushikesh, Richa Gupta


  • Report ID: 5884
  • Published Date: Mar 18, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The growing demand for energy across the globe and the growing adoption of renewable energy sources are the major factors driving the growth of the market.

The market size of slewing drives is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2024-2036.

The major players in the market are Cone Drive Operations Inc., Cleveland Gear Company, Inc., Kavitsu Bearings, TGB Group Technologies, EngNetGlobal, IMO Holding GmbH, Young Powertech Inc., and others.

The solar tracker segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Slewing Drives Market Report Scope
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