Global Slewing Drives Market – Industry Analysis and Forecast (2019-2027)
- POSTED ON Tuesday, February 23, 2021
Global Slewing Drives Market was valued US$ 3.2 Bn in 2019 and is expected to reach 4.8 Bn by 2027, at a CAGR of 5.2 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Global Slewing Drives Market: Overview
Slewing drives are gearboxes that have two to four universal stages. These drives include a planetary gear unit such as robust, compact, and versatile. Slewing drives are enhanced for best conceivable tooth flank and root load capacity, and minimum sliding speeds. Their design enhances torque performance volume and radial load capacity, while winding stresses are kept within restrictions to give the perfect meshing between the pinion and gear. These factors leads to increase demand for slewing drives market during forecast period.
Global Slewing Drives Market: Drivers and Restraints
Government initiatives through the development of manufacturing sector policies, and initiatives toward the practise of renewable energy resources such as wind energy and solar trackers are predicted to boost the demand for slewing drives around the world. Slewing drives are generally used in the construction industry. Accordingly by 2030, the volume of construction output is expected to grow by 85%. Increase in construction is the main reason for the growth in the demand for slewing drives across the globe. Rise in government initiatives are projected to drive the growth of the slewing drives market during the forecast period. All these factors leads to increase demand for slewing drives market during forecast period.
On the other hand, the high cost of equipment and high maintenance cost are projected to hamper the market during the forecast period. The change in unpredictable price of raw material will restrict the slewing drives market. Slewing drives need systematic maintenance and lubrication, and if not done, the remanufacturing cost of the drives becomes steep.
Global Slewing Drives Market: Segment Analysis
On the basis of gear segment, worm segment ids projected to increase the demand for slewing drives market during forecast period. Self-locking, required less space, operate silently and smoothly, reduce the speed are the factors of slewing drives which leads to increase the growth of slewing drives market during forecast period.
Global Slewing Drives Market: Regional Analysis
Asia Pacific is predicted to be the major market for slewing drives during the forecast period. Countries in the Gulf Cooperation Council (GCC) proposal to install a total 7 gig watts new power generation capacity from renewable sources by early 2020. Countries such as Brazil, Uruguay, and Chile have the maximum solar radiation owing to encouraging climate conditions. These countries are predicted to increase the production of solar energy quickly in the upcoming years, which will drive the slewing drives market during forecast period.
The objective of the report is to present comprehensive assessment projections with a suitable set of assumptions and methodology. The report helps in understanding Global Slewing Drives market dynamics, structure by identifying and analyzing the market segments and projecting the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, growth strategies, and regional presence. To understand the market dynamics and by region, the report has covered the PEST analysis by region and key economies across the globe, which are supposed to have an impact on market in forecast period. PORTER’s analysis, and SVOR analysis of the market as well as detailed SWOT analysis of key players has been done to analyze their strategies. The report will to address all questions of shareholders to prioritize the efforts and investment in the near future to the emerging segment in the Global Slewing Drives market.Scope of Global Slewing Drives Market
Global Slewing Drives Market, by Axis
• Single Axis• Dual AxisGlobal Slewing Drives Market, by Gear
• Worm gear• Spur gearGlobal Slewing Drives Market, by Application
• Solar Trackers• Man Lifts• Wind Turbines• Hydraulic Machinery• Cranes• Drilling Equipment• OthersGlobal Slewing Drives Market, by Distribution Channel
• Online• OfflineGlobal Slewing Drives Market, by Region
• North America• Europe• Asia Pacific• Middle East & Africa• South AmericaKey players operating in the Global Slewing Drives Market
• AKSH Manufacturing Pvt. Ltd• Bonfiglioli Riduttori SpA• Cone Drive Operations, Inc.• IMO Group• Kavitsu Robotronix Pvt. Ltd• Kinematics Manufacturing LLC• Liebherr Group• Luoyang SBI Special Bearing Co., Ltd• TGB Group Technologies• Young Powertech Inc.
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