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Slewing Drive Market size is predicted to reach $2.06 Billion by 2030, growing at a CAGR of 7.5% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. The escalating demand for slewing drives is underpinned by their pivotal role across various industries requiring precise rotational movement and torque transmission. This surge in demand is particularly prominent in the renewable energy sector, driven by the expansion of solar and wind power generation projects worldwide, finds IndustryARC in its recent report, titled “Slewing Drives Market – By Axis Type (Single Axis, Dual Axis, Multiple Axis), By Application (Solar Tracker, Wind Turbines, Satellite and radar dishes, Truck Cranes, Man Lifts & Automotive Lifts, Hydraulics Machinery & Utility Equipment, Oil Equipment Attachment, Tire Handler, Telescopic Handler, Digger Derricks, Others), By Bearing Load (Axial Loads, Radial Loads, Rotational Speed, Output Torque, Others), By Diameter (2”-5”, 5.1”-12”, 12.1”-20”, 20.1”-30”, 30.1” and Above), By End User (Solar, Wind, Industrial, Mobile, Satellite, Medical, Others), By Geography – Global Opportunity Analysis & Industry Forecast, 2023-2030”
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North America to Register Highest Growth:
In 2023, North America dominated the Slewing Drives market with largest share of 39%. The prime reason for domination of these markets is due to established construction, excavation and renewable energy establishments in the region. The region’s extensive adoption of automation and robotics in sectors such as construction, manufacturing, and mining has significantly boosted the demand for high-precision slewing drives, which are essential for the efficient operation of machinery like cranes, excavators, and robotic arms. Additionally, North America’s commitment to expanding its renewable energy capacity, particularly through large-scale solar and wind power projects, has further driven the market, as slewing drives are critical for the operation of solar trackers and wind turbines. The presence of key market players, robust R&D activities, and a high level of innovation have enabled North American manufacturers to develop advanced, IoT-enabled slewing drives that cater to the specific needs of industries in the region. Furthermore, supportive government policies, financial incentives for clean energy projects, and a focus on technological advancements have solidified North America’s position as a leading market for slewing drives.
Slewing Drives Market 2023-2030: Scope of the Report
|
Report Metric |
Details |
|
Base Year Considered |
2022 |
|
Forecast Period |
2023–2030 |
|
CAGR |
7.5% |
|
Market Size in 2030 |
$2.06 Billion |
|
Segments Covered |
By Axis Type, By Application, By Bearing Load, By Diameter, By End User and By Region |
|
Geographies Covered |
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa). |
|
Key Market Players |
1. Thyssenkrupp 2. Bosch Rexroth 3. Cone Drive Operations, Inc. 4. Brevini USA, Inc. 5. TGB Group 6. Kinematics Manufacturing, Inc. 7. Comer Industries Inc. 8. IMO USA Corp. 9. Liebherr 10. Hangzhou Ever-power Transmission Co., Ltd. 11. SEW-EURODRIVE 12. Potesta & Company, LLC 13. Bonfiglioli Transmissions Private Limited 14. FDON 15. Coresun Drive Equipment Changzhou Co., Ltd. |
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Slewing Drives Market Report – Key Takeaways:
Technological advancements and continuous product innovation are major drivers of the slewing drives market. Manufacturers are investing in research and development to create slewing drives with improved capabilities, such as higher load capacities, better durability, and enhanced precision. Innovations like the integration of smart technologies, such as IoT-enabled sensors for real-time monitoring, are making slewing drives more efficient and reliable. Additionally, advancements in materials science, such as the development of lightweight and corrosion-resistant materials, are enhancing the performance and lifespan of slewing drives. The National Institute of Standards and Technology estimates that the manufacturing sector contributed US$ 2.3 trillion, or 12.5%, to the U.S. GDP in 2021. The State Council Information Office of China (SCIO) reports that in 2021, the output of industrial value-added reached Yuan 31.4 trillion. The Ministry of Statistics and Programme Implementation (MoSPI) reports that in February 2023, India’s manufacturing production grew by 5.3%. The push towards customization and the creation of application-specific drives that meet the unique needs of different industries is further driving product innovation. As technology continues to evolve, the slewing drives market is expected to benefit from new designs and features that cater to the demands of a wide range of applications, from renewable energy to industrial automation.
The expansion of the renewable energy sector, particularly solar and wind power, is a major driver of the slewing drives market. Slewing drives are essential components in solar tracking systems, which adjust the orientation of solar panels to maximize sunlight exposure, and in wind turbines, where they control the yaw and pitch mechanisms to optimize wind capture. As countries worldwide commit to reducing carbon emissions and increasing the share of renewables in their energy mix, the demand for these efficient and reliable positioning systems is growing rapidly. By enabling precise and continuous alignment with the sun, slewing drives help solar trackers increase the energy output of solar panels by up to 30% compared to fixed installations. The global shift toward clean energy, driven by government incentives, environmental regulations, and technological advancements, has led to a significant increase in the installation of solar farms and wind turbines. This trend is expected to continue, providing a substantial boost to the slewing drives market. The need for high-precision, durable, and low-maintenance slewing drives that can withstand harsh environmental conditions is pushing manufacturers to innovate, leading to market growth and evolution.
Slewing drives are complex mechanical assemblies that require precise engineering and high-quality materials, which contribute to their relatively high purchase price compared to simpler alternatives. The cost factor is particularly challenging for small and medium-sized enterprises (SMEs), which may struggle to justify the investment in advanced slewing drives, especially in cost-sensitive markets. Additionally, the maintenance of slewing drives can be expensive, as they often operate under heavy loads and harsh conditions that lead to wear and tear. Frequent maintenance, part replacements, and downtime can add to operational costs, making it a less attractive option for companies looking to minimize expenses. This challenge is further compounded by the need for skilled personnel to carry out maintenance tasks, adding to the overall costs.
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Key Opportunity Analysis:
Growth in Autonomous and Electric Vehicles
The growth of autonomous and electric vehicles (EVs) opens new opportunities for slewing drives, particularly in applications related to vehicle assembly, battery manufacturing, and automated vehicle systems. Slewing drives are used in robotic arms and automated machinery essential for the precision assembly of EV components, as well as in battery production lines where precise positioning is critical. As the automotive industry shifts towards electrification and automation, the demand for advanced, reliable slewing drives that can support high-speed, high-precision manufacturing processes will increase. For example, The Brevini Electrified™ slewing drive of Dana Limited improves the worksite performance of electric-driven mini excavators through numerous advanced technologies. Its improved rotational efficiency and controllability enable smooth, precise positioning, while electronic load-sensing capabilities improve system efficiency and safety. The slewing drive balances energy management and performance through three operating modes – Eco, Normal, and Power – and its smart capabilities can further optimize productivity. Additionally, slewing drives could play a role in autonomous vehicle systems, such as lidar positioning and sensor alignment, enhancing vehicle navigation and safety features. This trend presents a promising opportunity for slewing drive manufacturers to innovate and develop products that cater specifically to the growing EV and autonomous vehicle sectors, capitalizing on the automotive industry’s rapid transformation.
Integration with Artificial Intelligence (AI) and Machine Learning (ML)
The integration of Artificial Intelligence (AI) and Machine Learning (ML) into slewing drives offers a significant opportunity for enhancing their performance and reliability. AI-driven slewing drives can use predictive analytics to forecast maintenance needs, optimize operational efficiency, and adjust performance parameters in real-time. This is particularly beneficial in industries where uptime is critical, such as renewable energy, mining, and manufacturing. AI can help optimize the slewing drive’s movement patterns, reduce wear and tear, and extend the lifespan of the equipment by constantly learning from operational data. Machine learning algorithms can also be used to refine the control systems of slewing drives, improving precision and responsiveness in complex tasks. As AI and ML technologies continue to advance, their application in slewing drives could lead to smarter, more adaptive systems that offer substantial cost savings and performance improvements, positioning manufacturers at the forefront of the market.
Advancement in Heavy Machinery Automation
The ongoing advancements in the automation of heavy machinery present a lucrative opportunity for the slewing drives market. Industries such as mining, construction, and agriculture are increasingly adopting automated machinery to improve productivity, reduce labor costs, and enhance safety. Slewing drives are essential components in these automated systems, providing the precise rotational control needed for tasks such as excavation, material handling, and drilling. The trend towards autonomous and remotely operated machinery in these sectors is expected to drive the demand for advanced slewing drives that can operate reliably in harsh environments, handle heavy loads, and provide high precision. For instance, Bonfiglioli Transmissions Private Limited has manufactured slewing drive which has compactness and efficiency for 7 to 150 tons excavators, and ensure the best possible heavy machine efficiency and easy maintenance. The opportunity lies in developing rugged, high-performance slewing drives with integrated sensors and remote-control capabilities that cater specifically to the needs of automated heavy machinery. As industries continue to push the boundaries of automation, the slewing drives market stands to benefit significantly from this evolution.
Emerging Applications in Space and Defense Industries and expansion in emerging markets
The space and defense industries represent emerging opportunities for the slewing drives market, driven by the need for high-precision, robust positioning systems. In space applications, slewing drives are critical for satellite positioning, solar panel tracking, and antenna alignment, where precise rotational control is essential for mission success. The growing investment in space exploration, satellite deployment, and defense technologies is expected to drive demand for specialized slewing drives that can operate reliably in extreme conditions, such as vacuum environments and wide temperature ranges. Similarly, in defense applications, slewing drives are used in radar systems, gun turrets, and missile launchers, where durability and precision are crucial. As these industries continue to evolve with technological advancements, there is an opportunity for manufacturers to design slewing drives that meet the stringent requirements of space and defense applications, opening new revenue streams and establishing a foothold in high-tech sectors. In September 2024, Liebherr’s Components product segment is further expanding its portfolio in the area of segmented slewing bearings. The segmented roller slewing ring, which was developed and manufactured at the site in Biberach (Germany), has an external diameter of 23.4 metres.
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The report also covers the following areas:
Slewing Drives Market 2023-2030: Key Highlights
Covid and Ukrainian Crisis Impact:
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List of Key Market Players in the Slewing Drives Market:
The Global Slewing Drives Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
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