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, 2021 | Technology & Media

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.

This study provides a particularized anatomy according to the L.E.A.P mechanism

  • Latest trends and cardinal growth prospects
  • Existing and future insights in growth
  • Ascensions in technology
  • Pain points

The regional analysis offers market assays across:

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

The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.

Latest Trends and Cardinal Growth Prospects

The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.

Existing and Future Insights in Growth

The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.

Ascensions in Technology

Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.

Pain Points

The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.

The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.

An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.

The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!

This report is the key to questions such as:

What are the prominent factors that will help in reshaping the market growth?

Which trends have the potential to bring expansive growth for the market?

What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?

Which regions will emerge as champion growth contributors for the market?

Which aspects will serve as game-changers for the market?

What are the latest innovations in the market?

Which factors will hinder the growth of the market?