According to the report by Expert Market Research (EMR), the global slewing drives market size is projected to grow at a CAGR of 5.2% between 2024 and 2032. Aided by the increasing demand from downstream application sectors and growing adoption of solar-powered energy alternatives, the market is expected to grow significantly by 2032.
Slewing drives are geared mechanisms that facilitate rotational torque resistance and ensure optimal positioning. They are chiefly used in heavy machinery such as cranes, man-lifts, and solar trackers. Due to their precise control and high torque performance, these drives are becoming increasingly integral in various applications, allowing equipment to sustain heavy axial and radial loads.
One of the pivotal drivers boosting the slewing drives market size is the burgeoning renewable energy sector, especially solar energy. Slewing drives are fundamental in solar trackers, devices that position solar panels towards the sun, thus maximising their energy capturing capability. With nations worldwide striving for cleaner energy sources, the integration of solar infrastructure is receiving significant investment, directly propelling the demand for slewing drives.
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The upswing in the global construction industry is another primary contributor to the slewing drives market growth. The incorporation of advanced machinery and equipment that offer enhanced operational efficiency is prevalent in modern construction practices. Slewing drives, being crucial in the functionality of excavators, tower cranes, and other construction equipment, are experiencing heightened demand in correlation with the industry’s expansion.
Additionally, the manufacturing sector’s shift towards automation and the introduction of sophisticated machinery is bolstering the slewing drives market demand. In areas like robotic arms and production line conveyors, the slewing drives’ ability to provide precise motion control is essential. As industries continue to innovate and evolve, the requirement for components like slewing drives that ensure efficiency and precision is expected to grow.
The slewing drives market analysis reveals that the marine sector also presents substantial opportunities to the market. Modern marine equipment, such as ship cranes and offshore wind turbines, increasingly rely on slewing drives for their operations. The emphasis on enhancing marine operations’ efficiency and safety is spurring the adoption of advanced machinery, where slewing drives play an important role.
Furthermore, the agriculture sector’s modernisation, marked by the introduction of advanced equipment and machinery, aligns perfectly with the capabilities of slewing drives. Their use in machinery like harvesters and tractors ensures optimal functionality, even under strenuous conditions, bolstering their significance in the sector.
Slewing Drives Market Segmentation
The market can be divided based on axis type, gear, application, distribution channel, and region.
Market Breakup by Axis Type
- Single Axis
- Dual Axis
- Multiple Axis
Market Breakup by Gear
- Worm Gear
- Spur Gear
Market Breakup by Application
- Solar Tracker
- Man Lifts
- Wind Turbines
- Hydraulic Machinery
- Cranes
- Drilling Equipment
- Others
Market Breakup by Distribution Channel
- Online
- Offline
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Slewing Drives Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global slewing drives market. Some of the major players explored in the report by Expert Market Research are as follows:
- Dana SAC UK Ltd.
- Cone Drive Operations Inc.
- Kavitsu Bearings
- TGB Group
- EngNetGlobal
- IMO Holding GmbH
- Cleveland Gear Company, Inc.
- Others
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