The European slewing bearings market is estimated to grow at a CAGR of 4.9% from 2024 to 2029 and the European market size is expected to grow from USD 1334.9 million in 2024 to USD 1695.6 million by 2029.
A slewing bearing is a rotational bearing or roll-bearing component typically used to support heavy loads that gently oscillate or turn. They offer an optimum power transmission with a quick and easy connection between nearby machine components when combined with the attachment holes in both rings. Slewing ring bearings provide a long-lasting, low-friction load-bearing solution that lessens friction and stress on the bearing and interacting parts. The reduced equipment wear contributes to an increase in the bearings and the system's overall service life. The rising emphasis on renewable energy sources and infrastructure expansion are the main drivers of the worldwide slewing bearings market. These have a small cross-section that is generally produced in the range from 800 to 7500 mm. Additionally, precise positioning, low noise and operating costs, and the ability to handle enormous loads are some of the primary advantages of slewing bearings that promote their use in various applications.
The slewing bearings market in Europe is driven by rapid growth in demand from customers in the end user sectors such as Industrial Machinery, Automobile, Aerospace and Defense, and Oil & Gas. A large part of this can be attributed to the rapid growth in the urbanization of different verticals and advanced construction and automobile machinery technologies. As a result of the use of these slewing bearings in almost every manufacturing sector, which comes under medium and high-scale industries, they can make the work more reliant and convenient for humans. In addition, several other factors are also contributing to the growth of the European Slewing bearing market, such as the delivery of high performance to the manufacturing sectors and the expansion of a variety of component production because of the more automobile companies in the Europe region. Furthermore, the accessibility of service providers and manufacturers on the global market, increasing adoption of efficient machinery to boost productivity, and implementation of different advancements in these bearings are expected to propel the expansion of the Europe slewing bearings market.
Regarding restraints, the Slew Bearing has an expensive framework on which the slew bearings operate and carries the cost of maintenance, involving lubrication, pollution, depreciation, and overloading. These elements might lead customers to look for different choices, lowering demand and shrinking the market. The cost and lead time increase as the bearing size increases. Additionally, the raw material supply gap has hindered the market's expansion. The growth of the construction sector in the Middle east countries is expected to slow down due to a fiercely competitive and price-conscious construction market. However, the outcome of this is predicted that the Middle east countries would have lower slewing bearing demand, which will affect the import of Swell Bearings from European countries.
The bearings market is divided into balls and rollers based on the kind of product. The segment with the highest revenue share in 2023, more than 44.74%, was roller bearings. In the upcoming years, the industry is expected to maintain its dominance and evolve into the fastest-growing area. This is because these products are more efficient than alternatives in supporting strong radial and limited axial loads while reducing rotational friction. According to predictions, the mass acceptance of roller bearings by various industries, including capital equipment, autos, home appliances, and aerospace, will increase demand for the product. In addition, ball bearings significantly minimize friction since they have a low surface contact area. They can also be deployed with thrust and radial loads, which explains why these items are used more frequently in both two- and four-wheeled cars. Consequently, the segment is projected to expand strongly over the forecast period.
The external gear-type slewing bearings dominate the Europe market and are anticipated to create impressive profits during the forecast period. Processes like gear meshing inspection and fault detection are simpler. Additionally, the circumferential stress and torque on the pinion are drastically decreased by the specific gear ratio of these bearings. The internal gear-type slewing bearings have the highest CAGR and are anticipated to produce a sizable profit within the expected time frame. Furthermore, the internal gear-type slewing bearing can improve turbine and pitch control performance by reducing friction.
Additionally, the lower friction in these bearings results in higher energy output. These bearings also have affordable operation and maintenance costs. The Ungeared slew bearing is the most basic, known as a bearing, and can carry loads in both vertical and horizontal planes. These bearings can also function as pivot or yaw points for rotating devices.
The cross roller slewing ring bearing has experienced tremendous expansion on the global market throughout the forecast period. Crossed roller bearings can handle higher loads than four-point contact balls. High radial forces and modest axial and tilting moment loads result in high efficiency. These bearings are also probably more suited to various uses, such as handling systems, machine tools, and robotics. The four- and eight-point contact ball holds a substantial market share in the global market. These bearings are ideal for applications requiring less rigidity and reliability from the bearing arrangement, such as wind power equipment, simple metalworking machines, and construction machinery. Moreover, these bearings provide benefits like quick installation and little maintenance in addition to being cost-effective.
Due to the moderate demand for these bearings in the rotating shafts of various machines, industrial machinery is likely to have sustainable expansion. The principal objective of a slewing bearing in a wind turbine generator (WTG) is to support the WTG rotor at its operating temperature. It also aids in the ability to absorb axial and radial loads acting on the shafts due to the gravitational effect induced by the asymmetrical placement of heavy components like the generator and blades. Slewing bearings are used in transit and construction equipment to ensure that the machinery rotates smoothly and steadily. It leads to less equipment damage, which may result in longer equipment lifespans. These are also used in medical equipment to deliver a controlled, slick motion. They are perfect for medical devices like MRI machines and CT scanners because they enable huge loads' precise and accurate rotation.
The region with the second largest revenue share was Europe. The development strategies that emphasize increasing investment mainly in the Automobile sector and wind and solar energy infrastructure are responsible for Europe's slewing bearings market growth. The booming mining sector is the main element behind the expansion of the Europe slewing bearings market. In addition, governments from all around Europe are beginning to appreciate the importance of the infrastructure business. Slewing bearings are one of the most crucial parts of the cranes and forklifts this industry needs for material handling.
Moreover, these slew bearings are used in automobiles which are major sectors in Germany and Italy. In 2022, Germany held a significant portion of the market for slewing bearings in Europe. Consequently, the slewing bearings market is anticipated to expand along with rising infrastructure investment.
Companies playing a notable role in the Europe slewing bearing market include IMO Group, Italcuscinetti S.p.A. Socio Unico, Liebherr, NTN Corporation, Schaeffler Technologies AG & Co. KG., SKF, THE TIMKEN COMPANY, Antex Corporation and Kavitsu Slew Ring Bearings.
Frequently Asked Questions
The market for Europe Slewing Bearing is anticipated to grow at a CAGR of 4.9% from 2022 to 2027.
Europe Slewing Bearings market is primarily driven by an increase in demand from customers in the end-user sectors such as Automobile and Machinery Manufacturing, Aerospace & Defense, Mining & Construction, Oil and Gas, and Renewable equipment.
The Manufacturing sector in the End-User Industry segment is leading with a substantial market share.
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