Double Row Different Diameter Ball Slewing Bearing Market Forecasts to 2030 – Global Analysis By Type (External Gear, Internal Gear and Gearless), End User (Construction, Renewable Energy, Aerospace, Mining, Healthcare, Agriculture and Other End Users) an

Double Row Different Diameter Ball Slewing Bearing Market Forecasts to 2030 – Global Analysis By Type (External Gear, Internal Gear and Gearless), End User (Construction, Renewable Energy, Aerospace, Mining, Healthcare, Agriculture and Other End Users) and By Geography

According to Stratistics MRC, the Global Double Row Different Diameter Ball Slewing Bearing Market is accounted for $4.64 billion in 2023 and is expected to reach $8.34 billion by 2030 growing at a CAGR of 8.7% during the forecast period. A double-row different-diameter ball slewing bearing is a specialised bearing designed with two rows of balls of varying diameters. These bearings enable precise and efficient movement while withstanding high axial and radial loads, making them crucial components in industries where heavy loads and slow rotation are critical. Its primary use is in heavy machinery and equipment, providing controlled rotation, load-bearing, and stability.

According to a report submitted by Eurostat, the statistical office of the European Union, the construction sector in the EU-27 which excludes the United Kingdom was responsible for employing more than 17.4 million people in 2020.

Market Dynamics:

Driver:

Demand for Industrial Machinery

Industrial machinery is essential to many industries, such as manufacturing, material handling, mining, and construction. Slewing bearings are crucial parts of large machinery because they provide for regulated rotation and the ability to support loads. For instance, these bearings are necessary for steady rotation and weight distribution in excavators, and they are needed for smooth and accurate movement in cranes. The requirement for dependable, high-performance slewing bearings keeps rising as a result of these industries' expansion and the modernization of manufacturing techniques. The market is expanding as a crucial component of industrial machinery operations and efficiency, fuelled by the advancement of industrialization and infrastructural development.

Restraint:

High cost

Double-row, different-diameter ball sewing Bearings are engineered to withstand heavy loads and provide precise motion control, which requires advanced manufacturing processes and materials. Their relatively high production costs can be a deterrent for price-sensitive industries and projects. In such cases, businesses may opt for alternative, more cost-effective bearing solutions, impacting the demand for slewing bearings. This factor remains a challenge, limiting the broader adoption of these bearings across various applications.

Opportunity:

Infrastructure development

Large-scale infrastructure projects, including bridges, stadiums, ports, and transportation networks, rely on heavy machinery equipped with slewing bearings for efficient construction and operation. Specialised bearings are becoming more in demand as nations invest in upgrading their infrastructure to meet the demands of urbanisation and expanding populations. The precision, stability, and load-bearing capacity of slewing bearings are essential for the success of these projects. Furthermore, there is a sustainable aftermarket opportunity due to the necessity for continued repair and upgrading of existing infrastructure.

Threat:

Environmental regulations

Industries that use heavy machinery with slewing bearings may encounter difficulties when governments throughout the world impose higher emissions regulations and environmental standards. Compliance with these regulations often requires the adoption of cleaner, more sustainable technologies or the retrofitting of existing machinery. This could lead to reduced demand for conventional slewing bearings. Additionally, environmental concerns might lead to increased scrutiny of the manufacturing processes and materials used in bearing production.

Covid-19 Impact

The COVID-19 pandemic had a notable impact on the Double Row Different Diameter Ball Slewing Bearing Market. The demand for industrial machinery declined as a result of the global economic slowdown and supply chain interruptions, which had a negative impact on the market. Many construction and manufacturing projects were delayed or cancelled due to lockdowns and social distancing measures, further reducing the need for these bearings. However, as economies recover and industries adapt to the new normal, the market is expected to rebound. The demand for construction equipment, renewable energy projects, and automation technology is likely to drive the resurgence of the Market.

The External Gear segment is expected to be the largest during the forecast period

The External Gear segment is estimated to hold the largest share. A gear whose teeth are made on the outside of a cylinder or cone is called an external gear, allowing it to engage with other machinery components, facilitating precise motion control and load distribution. These bearings are widely employed in heavy machinery, such as cranes, excavators, and wind turbines, due to their ability to support axial and radial loads while withstanding high torque. Moreover, their durability, reliability, and efficiency make them essential components in various industrial applications, particularly in scenarios where rotational movement and load management are critical.

The Construction segment is expected to have the highest CAGR during the forecast period

The Construction segment is anticipated to have lucrative growth during the forecast period. This segment is essential for ensuring the stability and dependability of heavy machinery in the building and infrastructure sectors, as well as for promoting the success and safety of construction projects worldwide. Moreover, double-row, different-diameter ball sewing Bearings enables the regulated rotation and support of large weights in a variety of construction machines, such as concrete pumps, cranes, and excavators. Their great load-carrying capacity and resistance to significant axial and radial forces are essential for secure and effective construction operations.

Region with largest share:

Asia Pacific commanded the largest market share during the extrapolated period. The double-row, different-diameter ball slewing bearing market in the Asia-Pacific area is a vibrant, rapidly growing sector of the worldwide bearing industry. It includes many Asian and Pacific nations, such as China, Japan, India, and Australia. This market, which is widely used in sectors including construction, wind energy, and heavy machinery, specialises in high-capacity, low-speed applications. The demand for these specialist bearings is rising as a result of the region's growing infrastructure development and industrialization. The region's strong growth and technological advancement in this sector are mostly due to market players' constant innovation in response to the varied needs of industries.

Region with highest CAGR:

North America is expected to witness profitable growth over the projection period, due to continuous industrial expansion and innovation across a range of industries. It primarily serves industries such as material handling, robotics, and renewable energy. The market in this region is characterised by a focus on precision engineering, high-quality standards, and advanced technological innovations. The growing demand for automation, coupled with the expansion of renewable energy projects like wind turbines and solar trackers, has boosted the need for these specialised bearings.

Key players in the market

Some of the key players in the Double Row Different Diameter Ball Slewing Bearing Market include Fersa, Emerson Bearing, ThyssenKrupp Rothe Erde, Universal Industrial Products (UIPI), Kaydon Bearings, Xuzhou Fenghe Slewing Bearing, SlewPro, Antex Corporation, Anhui Chenguang Seiko Electromechanical Technology, Luoyang Inno Bearing, Jiangsu Shuangzheng Machinery, Wuxi Luguang Slewing Bearing Manufacturing, SKF Group and Xuzhou Wanda Slewing Bearing Co., Ltd.

Key Developments:

In April 2023, Fersa Bearings, Spanish wheel-bearing specialist has announced the extension of its strategic partnership agreement with Knorr-Bremse, a global market leader for braking systems and a leading supplier of other rail and commercial vehicle systems.

In January 2023, Fersa Group acquires majority stake in manufacturer Delux Bearings. The Spanish multinational strengthens its global strategy by consolidating its position in India and takes a further step towards market leadership in powertrain components and intelligent mobility solutions while diversifying its product range to reach an estimated turnover of more than 200 million Euros by 2023.

Types Covered:
• External Gear
• Internal Gear
• Gearless

End Users Covered:
• Construction
• Renewable Energy
• Aerospace
• Mining
• Healthcare
• Agriculture
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements