Slewing Drives Market

Slewing Drives Market Overview

The global Slewing Drives Market size was valued at USD 3.63 billion in 2023 and is predicted to reach USD 4.99 billion by 2030 with a CAGR of 5.5% from 2024-2030.

Slewing drives or slewing bearing market encompasses the demand and supply dynamics of gear mechanisms designed to facilitate rotational movement and precise positioning in heavy-duty applications. These drives, comprising a base and a rotating outer ring interconnected by gears or bearings, are utilized across various industries such as industrial machinery, solar tracking systems, and others.

They comprise various features such as high torque capacity and durability in harsh conditions, to be used in heavy-duty applications requiring slow and controlled rotation, such as cranes, excavators, and satellite dish antennas. The market caters to diverse sectors seeking reliable and efficient rotational solutions, driving innovation and technological advancements within this specialized field.

Market Dynamics and Trends

The increasing global adoption of renewable energy is driving the slewing drives market growth, as these drives are essential for improving energy capture and power generation in solar tracking systems and wind turbines by ensuring precise alignment and movement.

International Energy Agency states that, by 2028, global wind and solar photovoltaic (PV) energy is projected to contribute 25% of the total electricity generated. This rising adoption of sustainable energy solutions is driving demand for slewing bearing for the efficient operation of solar tracking systems and wind turbines.

Moreover, the expansion of the construction industry worldwide is driving the growth of the slewing drives market, as the increased demand for heavy machinery and equipment requires these drives for precise rotational movement and positioning in cranes and excavators.

For instance, global construction work is expected to exceed USD 4.2 trillion over the next 15 years. This global expansion of construction projects propelled by urbanization and infrastructure development fuels demand for slewing bearings.

Furthermore, the global expansion of industrial automation is driving the growth of the slewing drives market, as these components are crucial for providing precise rotational motion control needed for the operation of robotic arms, conveyor systems, and other automated machinery.

According to recent report published by the International Federation of Robotics, 553,000 units of new industrial robots were installed in numerous industries worldwide during 2022. As industries continue to invest in automation to improve efficiency, productivity, and competitiveness, the demand for slewing bearing as an integral component of automated system is on rise.

However, availability of alternative mechanisms or technologies such as gears or hydraulic systems restraints the slewing drives market expansion.

On the contrary, the integration of industry 4.0 technologies such as AI, IoT and advanced analytics is anticipated to create ample growth opportunity in the forthcoming years. These technologies enable real-time monitoring and predictive maintenance, enhancing the reliability and efficiency of slewing drives in various industrial applications.

Market Segmentations and Scope of the Study

The slewing drives market report is segmented on the basis of axis type, gear, application, application, end-user, and region. On the basis of axis type, the market is segmented into single axis, dual axis and multiple axis. Based on gear, the market is segregated into worm gear, spur gear, helical gear, and others. Based on application, the market is segmented into cranes, solar trackers, man lifts, hydraulic machinery, wind turbines, drilling equipment, and others. By end-user the market is divided into, defense and aerospace, agriculture, oil and gas, mining, and others. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and Rest of World (Row).

Geographical Analysis

North America dominates the slewing drives market share and is projected to maintain its dominance throughout the forecast period due to rising adoption of renewable energy in the region.

World Resources Institute states that, renewable energy contributes 20% of the U.S. electricity production, and solar energy production within the country is projected to increase by 75% and wind energy production by 11% by 2025. With growing popularity of renewable energy and rising environmental concern, there is an anticipated surge in demand for slew drives in the region.

Moreover, the increase in number of construction projects in this region is further driving the demand for slewing drives to improve efficiency of construction machineries and support completion of difficult tasks with precision and accuracy.

The U.S. government in 2023, invested around USD 220 billion for over 32,000 construction infrastructure projects. With such growth in infrastructure development the need for slewing bearing is on the rise in this region.

On the other hand, Asia-Pacific is expected to show a steady rise in the slewing bearing market during the forecast period due to the rapid industrialization across the region. Industries ranging from construction to manufacturing rely heavily on heavy machineries, and slewing drives ensure precise rotational movement of such machineries, enhancing the efficiency and accuracy of various operational tasks.

Press Bureau of Information states that, industrial sector in India experienced a 3.7 percent increase in gross value added (GVA) in 2023. Similarly, in China industrialization rate reached 51.3 percent in 2023. Such growth in the industrial sector boosts the growth of the slewing bearing market in this region.

Moreover, the increasing adoption of industrial automation is further boosting the slewing drives market demand in this region. International Federation of Robotics reports that, in 2022, 73% of world's industrial robots were installed in Asia, with China leading the adoption of robotics with more than 290 thousand robots. As industries in this region increasingly embrace automation to enhance operational efficiency, the demand for slewing bearing is poised to rise.

Competitive Landscape

Various key players operating in the slewing drives industry includes Bonfiglioli S.P.A, Cone Drive Operations, Inc., IMO Group, Kavitsu Bearings, Kinematics Manufacturing LLC, Liebherr Group, TGB Group Technologies, Rothe Erde Germany GmbH, Zeus Hydratech, Luoyang LDB, Camm Group, Potesta & Company, LLC, Bevini Power Transmission, Hidros Group, MenSe Oy, and others. These market players are adopting various strategies such as product launches to remain dominant in the market.

For instance, in October 2024, Bonfiglioli expanded its operations in India by setting up new manufacturing facilities. This strategic move aimed to enhance production capabilities and cater to the increasing demand for slewing drives in the country by positioning itself to better serve industries such as construction and automation.

Key Benefits

• The report provides quantitative analysis and estimations of the slewing drives industry from 2025 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep-dive analysis of the current and future slewing drives market trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Slewing Drives Market Key Segments

By Axis Type

• Single Axis

• Dual Axis

• Multiple Axis

By Gear

• Worm Gear

• Spur Gear

• Helical Gear

• Others

By Application

• Cranes

• Solar Trackers

• Man Lifts

• Hydraulic Machinery

• Wind Turbines

• Drilling Equipment

• Others

By End-User

• Defense and Aerospace

• Agriculture

• Oil and Gas

• Mining

• Others

By Region

• North America

  • The U.S.

  • Canada

  • Mexico

• Europe

  • The U.K.

  • Germany

  • France        

  • Italy        

  • Spain        

  • Denmark        

  • Netherlands        

  • Finland        

  • Sweden        

  • Norway        

  • Russia        

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific 

• Rest of the World (RoW)

  • Latin America

  • Middle East 

  • Africa

Key Players

• Bonfiglioli S.P. A

• Cone Drive Operations, Inc.

• IMO Group

• Kavitsu Bearings

• Kinematics Manufacturing LLC

• Liebherr Group

• TGB Group Technologies

• Rothe Erde Germany GmbH 

• Zeus Hydratech

• Luoyang LDB

• Camm Group

• Potesta & Company, LLC.

• Bevini Power Transmission

• Hidros Group

• MenSe Oy

REPORT SCOPE AND SEGMENTATION:

Parameters	Details
Market Size in 2024	USD 3.63 billion
Revenue Forecast in 2030	USD 4.99 billion
Growth Rate	CAGR of 5.5% 2025 to 2030
Analysis Period	2024–2030
Base Year Considered	2024
Forecast Period	2025–2030
Market Size Estimation	Billion (USD)
Growth Factors	Increasing adoption of renewable energy is propelling the growth of the slewing drives market. Expansion of construction industry is driving the market growth. The global expansion of industrial automation is driving the demand for slewing drives.
Countries Covered	28
Companies Profiled	15
Market Share	Available for 15 companies
Customization Scope	Free customization (equivalent to up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.