Slewing Bearing Market to Grow at 5.4% CAGR to reach USD 5,831.2 Million by 2027 - Impact of COVID-19 Pandemic and Global Analysis by The Insight Partners

According to our latest market study on "Slewing Bearing Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Rolling Element, Gear Type, and Application," the market was valued at US$ 3,903.3 million in 2020 and is projected to reach US$ 5,831.2 million by 2028; it is expected to grow at a CAGR of 5.4% from 2021 to 2028.

Owing to the increasing concerns about climate change, governments and corporates are taking various initiatives for fostering sustainable practices. Such initiatives include promoting recyclable products and harnessing clean energy. For instance, the European Union has formalized the target of becoming carbon neutral by 2050. The California-based and Nevada-based facilities of Apple Inc. and Tesla Inc., respectively, are running completely on clean energy. Currently, solar and wind energy, together, account for a substantial share of the overall clean energy market. These energy sources are considered the cheapest sources of clean energy as the operational & maintenance cost of them is restively less. Slewing bearings are used in altitude-azimuth mountings and gear boxes of solar panels, as well as in wind turbines of windmill. Thus, the increasing importance of clean energy, coupled with growing deployment of onshore and offshore solar and wind farms, is expected to bolster the slewing bearings market growth during the forecast period.

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Slewing Bearing Market - Company Profiles

Antex corp.
IMO Group
Italcuscinetti S.p.A. a Socio Unico
Liebherr
NTN Corporation
Schaeffler Technologies AG & Co. KG
SKF
Thyssenkrupp rothe erde Germany GmbH
THE TIMKEN COMPANY
Emerson Bearing Company

The latest research report on the "Slewing Bearing Market - Industry Analysis, Market Size, Opportunities and Forecast, 2021 - 2028" provides a comprehensive assessment of the Slewing Bearing market for the forecast period from 2021 to 2028. The investigative report provides a detailed analysis of the impact of COVID-19 on various segments in the Slewing Bearing market based on product type, application, and end-use across numerous countries around the world. Further, the report also provides insights into market developments, trends, supply and demand changes across various regions across the globe. Thereby, the report provides a holistic view on the Slewing Bearing Market in order to help decision makers with various strategic insights and future outlook. The Slewing Bearing market is expected to witness continued growth during the forecast period from 2021 to 2028.

The slewing bearings market growth in APAC is attributed to development strategies that emphasize on investing more on wind and solar energy infrastructure. Further, surge in mining activities in countries such as India and China, coupled with other infrastructure developments, is contributing to the market growth in the region. The main raw material used to manufacture slewing bearing is steel, and China is a chief producer of steel. The market growth in North America is credited to the presence of a large number of slewing bearing manufacturers and service providers. In Europe, the demand for slewing bearings is increasing among end users with the growing focus on machine efficiency to improve overall productivity and profit. The market growth in North America is credited to the presence of a large number of slewing bearing manufacturers and service providers. The MEA and SAM are also contributing significantly to the global slewing bearing market growth. The presence of a large number of oil refineries and significant investments in infrastructure and automotive sectors are contributing to the growth of slewing bearing market in the MEA. Further, continuous growth in the world's population is compelling countries to invest actively in defense and medical industries.

This is a professional and in-depth study on the current state of the Slewing Bearing Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Slewing Bearing Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.

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Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Slewing Bearing Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

The report segments the global Slewing Bearing Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Slewing Bearing Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.

The report focuses on global major leading Slewing Bearing Market players providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.

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Reasons to Buy
• Highlights key business priorities to assist companies realign their business strategies.
• Features key findings and crucial progressive industry trends in the global Slewing Bearing market, thereby allowing players to develop effective long-term strategies.
• Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
• Scrutinizes in-depth market trends as well as key market drivers and restraints.
• Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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