According to the new market research report by IndustryARC titled “Slewing Bearings After Market: By Gear Types (Ungeared, External Gear, Internal Gear); By Construction (Single-row Four Point Contact Ball, Cross roller, Double roller); By Dimension (OD < 2.5m, 2.5m < OD < 4.5m, 4.5m the market is driven by the increasing need for repair and maintenance in application specific slewing bearings and rising focus on renewable energy generation.
Europe held the largest market share in the Slewing Bearings After Market
Europe region holds the largest market share in the Slewing Bearings After Market, and is anticipated to reach $505.72 million by 2023 at a CAGR of 7.5%. However, APAC witnesses highest growth during the forecast period and is expected to reach $469.27 million by 2023 at a CAGR of 10.5%. Europe Slewing Bearings Market is mainly driven by the production of oil and gas industry. The sharp rise in oil production every year is also providing impetus to the industry in this region. The key applications include Mining, Marine Vessels, Military, Packaging, Robotic Equipment, and Medical Equipment among others.
Selected Value Chain Analysis done in the full report
- The value chain depicts several stakeholders such as components, raw material suppliers, research organization and patent holders, various legislative authorities as well as testing and certifying bodies.
- Sub component manufacturers comprises of raw material providers, fabricated structures and some other minute components manufacturing enterprises.
- Initially, the product prototype developed by the R&D department (in case of new product) or pre-specified requirements is given to the component manufacturer by the end user who then forwards their requirements to the component/ sub component manufacturer.
- The specification sometimes includes customized bearings based on the product design specifications and demands. The bearings will be manufactured as per the application specifications.
- At each phase, the bearings or bearing components has to be manufactured as per the industry standards. There are a number of certifying bodies such as ATEX, NEC, IECEx, CEC and so on, which specifies the requirements of the bearings at each phase of the value chain.
- After-market comes into value chain scenario after the bearings are delivered to the end users. Aftermarket includes the supply of raw materials or spare parts of these bearings when they are subjected to failure.
- Key aftermarket services and products include the bearings materials suppliers, pre-fabricated structure providers, which are usually spare parts. These spare parts are to be replaced under maintenance, repair and overhaul services.
- After-market is gaining the popularity in various industries including construction, mining, energy sector and so on, where there has been high scope for the failure or declining operational efficiencies due to continuous heavy loads. Moreover, Slewing bearings are subjected to functional and dimensional check, and are certified by regional equipment certification authorities, and most of the companies follow DIN/ISO 9001/2000 quality standards.
- In after-market segment, bearing manufacturers undertake service projects at client locations through a range of condition monitoring services which minimizes the risk of breakdown, consequent damages, and thus allow clients to achieve reduction in downtime.
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Excerpts on Market Growth Factors
- Ungeared slewing bearing market is projected to grow with CAGR of 11.1% during the forecast period to reach $122.73 million in 2023.
- Slewing Bearings After-market has been primarily driven by the rising infrastructure spending in APAC and African Markets.
- Other factors that drive the market include increasing need of repair and maintenance in application specific slewing bearings, and growing shift towards after-market purchase of Slewing Bearings in Automotive and Construction Sectors.
- The market has witnessed investments in research and development of slewing bearings in the recent years. Currently, the market is mostly driven by product enhancements and rising number of heavy machinery products is estimated to drive the market growth of these bearings and aftermarket services over the next couple of decades.
- According to the Medtech Organization, increasing number of imports and exports of medical equipment coupled with advancements in the medical technology has a huge impact on the growth of the aftermarket slewing bearings across the globe.
- Slewing bearings aftermarket value for conveyors market is expected to reach $89.97 million in 2023.
- Internal geared slewing bearings market in 2014 was $1,596.0 million and is estimated to grow from $1,703.4 million in 2015 to $2,311.2 million by 2020 at a CAGR of 6.3%.
- External gear segment is projected to grow with CAGR of 8.2% during 2017 to 2023 from $457.64 million in 2015 to $885.95 million in 2023.
- Single row 4 point ball market segment is estimated to reach $565.98 million by 2023, growing at CAGR 7.2% during the forecast period.
- Double row 4 point ball market segment is anticipated to reach $493.86 million by 2023 growing at a CAGR of 9.9% during the forecast period.
- Cross roller market segment is estimated to reach $263.91 million by 2023, growing at a CAGR 8.3% during the forecast period.
- Eight point contact ball market segment is estimated to reach $49.25 million by 2023, growing at a CAGR 7.3% during the forecast period.
- Wire Race Bearing market segment is estimated to reach $71.22 million by 2023, growing at CAGR 10.8% during the forecast period.
- Medical segment is witnessed a rapid growth of CAGR 12.2% and the mining segment is estimated to be dominant segment with highest revenue of $228.93million by the end of 2023 with a CAGR of 7.8%.
- Energy & power segment witnessed revenue of $109.34 million in 2015 and is projected to reach $260.75 million by the end of 2023 growing at a CAGR of 11% during the period 2015-2023, owing to increasing demand for the installation of new renewables.
- Global slewing bearing aftermarket for the wind turbines is projected to reach $167.2 million by the end of 2023 with a CAGR of 8.5% during the forecast period.
- Slewing bearings aftermarket value for conveyors market expected to reach $89.97 million in 2023 with a CAGR of 9.1%.
- Marine segment is projected to reach a major revenue of $92.24 million by the end of 2023 growing at a CAGR of 10% during the forecast period.
- ROV LARS segment witnessed revenue of $35.66 million in 2015 and is projected to reach a major revenue of $86.85 million by the end of 2023 growing at a CAGR of 11.3% during the forecast period.
- Mooring systems segment is estimated to reach $67.12 million by the end of 2023 with a CAGR of 8.4% during the forecast period.
- Slewing bearings aftermarket value in automotive application is expected to reach $44.96 million in 2023 with a CAGR of 6.1%.
- Slewing bearings aftermarket value in missile launchers is expected to reach $12.61 million in 2023 with a CAGR of 6.5%.
- Slewing bearings aftermarket value in military communications is expected to reach $21.77 million in 2023 at a CAGR of 3.6%
- Slewing bearings aftermarket value in wire race is expected to reach $14.48 million in 2023 at a CAGR of 6.6%.
- Slewing bearings aftermarket value of standard bearing market expected to reach $35.60 million in 2023 at a CAGR of 5.0%.
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Key players of Slewing Bearings After Market:
- ThyssenKrupp Group, IMO Group, SKF Group, Forgital Group, NTN-SNR Group, Antex Corporation are the major players in the Global Slewing Bearings Market.
- These companies offers a wide range of products along with services, tailored to the requirements of industry verticals, thereby augmenting their respective positions in the market.
- Notable players in the occupant sensing systems market comprise of NTN Corporation (Japan), SKF AB (Sweden), ThyssenKrupp AG (Germany) and Schaeffler AG . (Germany)
- Also, as majority of the players in the market tend to be dominant suppliers, each one of them has established a robust network for sales, distribution and aftermarket services across different end-user vertical, resulting in low bargaining power.
- The slewing bearings market players will be presented with huge opportunities as the solar energy production is estimated to increase immensely in the coming years. This solar energy production is projected to escalate the need of aftermarket bearing products owing to their failure in operations.
- Market players such as Kaydon Bearings, RBC Bearings Incorporated among others, provides these slewing bearings to oil and gas industry.
- Market players such as ThyssenKrupp Rothe Erde GmbH, Rotek, Inc. provide wire-race slewing bearings to various end user industries such as aviation and aerospace, production plants telescopes.
Slewing Bearings After Market Report is segmented as indicated below
- Slewing Bearings After Market By Gear Types:
- Ungeared
- External Gear
- Internal Gear
- Slewing Bearings After Market By Construction/ Design
- Single-row Four Point Contact Ball Slewing Ring Bearing
- Cross Roller Slewing Ring Bearing
- Double-row Ball Slewing Ring Bearings
- Three-row Roller Slewing Ring Bearings
- Four and eight point contact ball
- Bi-angular roller or Tape
- Slewing Bearings After Market By Rolling Element
1 Ball
2 Roller
3 Combined ball and roller
4 Track
- Slewing Bearings After Market by Applications
- Wind & Solar Energy
- Robotic Equipment
- Medical Equipment
- Mining
- Marine Vessels
- Material Handling Equipment
- Water Treatment
- Military
- Communication Equipment
- Construction Industry
- Excavation Industry
- Wind Turbines
- Radar
- Rail/Transit Industry (Marine)
- Solar Energy
- Oil Industry
- Packaging Industry
- Slewing Bearings After Market By Geography (Covers 12 + Countries)
- Slewing Bearings After Market By Entropy
Companies Cited/Referenced/Interviewed:
- HYDROPOWER SYSTEMS.
- IMO GROUP
- ANTEX CORPORATION
- SCHAEFFLER AG
- MESSINGER BEARINGS
- SOUTHERN SALES & ENGINEERING CO., INC.
- SKF GROUP
- SCHEERER BEARING CORPORATION
- Rotek Inc. (ThyssenKrupp AG)
- H&R CONSTRUCTION PARTS AND EQUIPMENT
- Company 15+
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What can you expect from the report?
The Slewing Bearings After Market is Prepared with the Main Agenda to Cover the following 20 points:
- Market Size by Product Categories
- Market trends
- Manufacturer Landscape
- Distributor Landscape
- Pricing Analysis
- Top 10 End user Analysis
- Product Benchmarking
- Product Developments
- Mergers & Acquisition Analysis
- Patent Analysis
- Demand Analysis (By Revenue & Volume)
- Country level Analysis (15+)
- Competitor Analysis
- Market Shares Analysis
- Value Chain Analysis
- Supply Chain Analysis
- Strategic Analysis
- Current & Future Market Landscape Analysis
- Opportunity Analysis
- Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country, geography or application based reports in slewing bearings after Market?
Response: Yes, we do have separate reports as mentioned below:
- Americas Market for Slewing Bearings (2018-2023)
- Europe Market for Slewing Bearings (2018-2023)
- APAC Market for Slewing Bearings (2018-2023)
- RoW Market for Slewing Bearings (2018-2023)
- Ungeared Market for Slewing Bearings (2018-2023)
- External Gear Market for Slewing Bearings (2018-2023)
- Internal Gear Market for Slewing Bearings (2018-2023)
- Single-row Four Point Contact Ball Slewing Ring Bearing Market for Market for Slewing Bearings (2018-2023)
- Cross Roller Slewing Ring Bearing for Market for Slewing Bearings (2018-2023)
- Bi-angular roller or Tape Market for Slewing Bearings (2018-2023)
- Ball Market for Slewing Bearings (2018-2023)
- Roller Market for Slewing Bearings (2018-2023)
- Combined ball and roller Market for Slewing Bearings (2018-2023)
- Track Market for Slewing Bearings (2018-2023)
- Slewing Bearings After Market by Applications Market for Slewing Bearings (2018-2023)
- Construction Industry Market for Slewing Bearings (2018-2023)
- Excavation Industry Market for Slewing Bearings (2018-2023)
- Wind Turbines Market for Slewing Bearings (2018-2023)
- Medical Equipment Market for Slewing Bearings (2018-2023)
- Radar Market for Slewing Bearings (2018-2023)
- Military Applications Market for Slewing Bearings (2018-2023)
- Rail/Transit Industry (Marine) Market for Slewing Bearings (2018-2023)
- Solar Energy Market for Slewing Bearings (2018-2023)
- Oil Industry Market for Slewing Bearings (2018-2023)
- Packaging Industry Market for Slewing Bearings (2018-2023)
Q. Does IndustryARC customize these reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
- Increase the level of data in application or end user industry.
- Increase the number of countries in geography chapter.
- Find out market shares for other smaller companies or companies which are of interest to you.
- Company profiles can be requested based on your interest.
- Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
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