Slewing Drives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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Slewing Drives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : May, 2020 | Technology & Media | PPT format

Report Digest

Global Slewing Drives Market: Overview

The global slewing drives market has advanced continuously on the back of their growing adoption in precision motion technology applications. They are thus used in diverse range of applications including heavy load transporters, wind turbines, solar trackers, hydraulic equipment, and harbor cranes. They also find use in crane steering mechanisms, heavy load manipulators, and ship propulsion systems. Slewing drives can be employed into multiple stages of gearing and powered with either hydraulic or an electric motor. Technological advancements made in the slewing drives market have led to optimizing the torque performance and radial load capacity. Such advances have benefitted applications where high forces are involved. Cases in point are steering gearboxes in cranes and other heavy-duty vehicles, and building and agricultural machinery.

The report on the global slewing drives market is prepared with rigorous statistical assessment of the size of the market, shares of key segments, and provides the key data outliers. It takes a an in-depth insight into promising avenues, custom solutions gathering traction among industry users, and changing competitive landscape. The assessments are likely to guide new entrants as well as established players to target new lucrative avenues.

Global Slewing Drives Market: Key Developments

Manufacturers are increasingly focusing on slewing drive units that generate low heat even at high force transfer, such as in heavy load manipulators. Top players have been actively conducting research and development activities for unveiling products in the slewing drives with new design and vast efficiency improvements. Numerous players have also focused on offering custom solutions to various end-use industries. They are also keen on developing slewing drives with modular design.

Some of the key players in the slewing drives market are Young Powertech Inc., TGB Group Technologies, Luoyang SBI Special Bearing Co., Ltd., Kinematics Manufacturing LLC, IMO Group, Bonfiglioli Riduttori SpA, and AKSH Manufacturing Pvt. Ltd.

Global Slewing Drives Market: Growth Dynamics

Growing utilization of slewing drives into renewable energy applications most notably wind energy and solar trackers has boosted sales revenue in the slewing drives market. The strides made by manufacturing sector in various parts of the world is also a key trend boosting the market. Moreover, various government regulations that support manufacturing policies in developing and developed economies have catalysed demand for precision motion technologies such as slewing drives. Furthermore, the global slewing drives market has witnessed promising avenues in the wave of automation in developing economies. Strides made by the uptake of heavy machine construction has also propelled the expansion of the slewing drives market. Rise in construction sector in a few industrialized nations is fueling the expansion of the global slewing drives market.

However, the high cost of the equipment has dampened the demands in cost-sensitive countries. Further, the high cost of maintenance of heavy machineries that use slewing drives has also impeded the rapid growth of the slewing drives market. On the other hand, self-locking technology has been witnessing considerably uptake, thereby bolstering the prospects of the market.

Key application areas in the slewing drive market are solar trackers, man lifts, hydraulic machinery, cranes, and drilling equipment.

Global Slewing Drives Market: Regional Analysis

On the global front, Asia Pacific has shown extraordinary potential. A big impetus to the demands for slewing drives in the regional market has come from the adoption of renewable power machinery. A sizable demand has come from Gulf Cooperation Council countries. Burgeoning generation of solar energy in numerous economies in Asia is also fueling new prospects in the slewing drives market. Some other regional markets are Europe, North America, and the Middle East and Africa.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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