Single Row Ball Slewing Bearing Market Forecasts to 2030 – Global Analysis By Type (Non-Gear Type, Internal Gear Type, External Gear Type, Cross Roller Type, Corrosion-Resistant Type and Other Types), Application and By Geography

Single Row Ball Slewing Bearing Market Forecasts to 2030 – Global Analysis By Type (Non-Gear Type, Internal Gear Type, External Gear Type, Cross Roller Type, Corrosion-Resistant Type and Other Types), Application and By Geography

According to Stratistics MRC, the Global Single Row Ball Slewing Bearing Market is growing at a CAGR of 7.2% during the forecast period. A single-row ball slewing bearing is a crucial component in various mechanical systems, providing rotational support and stability. This type of bearing consists of a single row of balls sandwiched between inner and outer rings, facilitating smooth and controlled rotation. Engineered for applications demanding axial and radial load support, these bearings find extensive use in industries such as construction, mining, and manufacturing.

According to the federal transport authority KBA, a total of 2.65 million vehicles were registered in Europe's largest economy in 2022, indicating a 1.1% increase from the previous year.

Market Dynamics:

Driver:

Increasing investments in global infrastructure projects

As governments and private entities worldwide embark on expansive infrastructure development initiatives, there is a growing demand for heavy machinery and equipment, where single-row ball slewing bearings play a crucial role. These bearings are integral components in construction machinery, cranes, and other infrastructure-related equipment, providing essential support for rotational movements. Moreover, the surge in infrastructure investments, encompassing projects such as bridges, roads, and commercial buildings, directly correlates with the rising need for reliable and high-performance slewing bearings.

Restraint:

High manufacturing costs

The production of these bearings requires precision engineering, advanced materials, and stringent quality control processes, contributing to elevated manufacturing expenses. The use of high-strength alloys and specialized coatings to enhance performance further adds to the production costs. However, industries that are particularly cost-sensitive may find it challenging to justify the expenditure on these bearings, especially when alternative solutions with lower manufacturing costs are available.

Opportunity:

Technological advancements in manufacturing processes

Continuous innovation in precision engineering and materials science has led to the development of slewing bearings with enhanced performance characteristics. Advanced manufacturing technologies enable the production of bearings with tighter tolerances, superior durability, and improved resistance to wear and fatigue. The incorporation of cutting-edge materials, such as high-strength alloys and advanced coatings, contributes to increased load-carrying capacity and prolonged operational life of single-row ball slewing bearings. Additionally, precision machining techniques and automation in manufacturing processes ensure consistent quality and reliability in the production of these critical components.

Threat:

Lack of standardization

With diverse manufacturers producing these bearings without standardized design and specifications, interchangeability becomes a challenge. This lack of uniformity complicates the sourcing process for customers, as each manufacturer may have unique dimensions and configurations, limiting options and potentially increasing procurement complexities. However, the absence of industry-wide standards also hinders the development of a universal set of guidelines for installation, maintenance, and performance, which can lead to operational uncertainties for end-users.

Covid-19 Impact

The pandemic-induced economic slowdown led to project delays in construction and infrastructure sectors, directly affecting the demand for slewing bearings. As major end-user industries scaled back investments and faced logistical challenges, the market experienced a temporary decline. Travel restrictions and social distancing measures hindered on-site installation and maintenance activities, further impacting the market dynamics. However, as economies adapted to new norms and industries recovered, particularly in construction and manufacturing, the demand for single-row ball slewing bearings rebounded.

The external gear type segment is expected to be the largest during the forecast period

External Gear Type segment commanded the largest share due to its versatile applications and superior performance characteristics. External gear slewing bearings feature a gear mechanism on the outer ring, enabling efficient power transmission and precise movement control. This design enhances their suitability for a wide range of applications, such as wind turbines, construction machinery, and material handling equipment. Moreover, in the renewable energy sector, the surge in wind turbine installations, particularly in response to the global push for clean energy, has significantly boosted the demand for external gear slewing bearings.

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

Industrial Machinery segment is witnessing profitable growth due to its integral role in enhancing the performance and reliability of various industrial applications. Single Row Ball Slewing Bearings find extensive use in industrial machinery, including manufacturing equipment, material handling systems, and robotic arms. Moreover, as industries increasingly embrace automation and advanced manufacturing processes, the demand for precise rotational support provided by these bearings has surged.

Region with largest share:

Asia Pacific region dominated the largest share over the prediction period due to robust industrialization, infrastructure development, and expanding manufacturing activities. Countries like China and India are at the forefront of this growth, with substantial investments in construction, renewable energy, and heavy machinery sectors. The continuous rise in urbanization and the development of smart cities are increasing the demand for construction equipment, where slewing bearings play a critical role.

Region with highest CAGR:

Asia Pacific region is poised to hold substantial growth over the projection period due to a surge in infrastructure development initiatives, backed by stringent regulatory frameworks aimed at enhancing safety standards and promoting sustainable practices. Stringent building codes and regulations mandate the use of high-quality components, including single-row ball slewing bearings, in construction and infrastructure projects. Furthermore, the region's commitment to renewable energy sources, supported by government incentives and regulations, has led to an increased installation of wind turbines, driving the demand for slewing bearings.

Key players in the market

Some of the key players in Single Row Ball Slewing Bearing market include Antex Corporation, Jiangsu Shuangzheng Machinery Co., Ltd, Kaydon Corporation, NTN Corporation, Rothe Erde GmbH, Schaeffler Group, SKF Group, TGB Group Technologies, URB Group, Wanda Slewing Bearing Co., Ltd, Wuxi STBR International Trading CO., LTD., Xuzhou Wanda Slewing Bearing Co., Ltd and ZYS Luoyang Bearing Science and Technology Co., Ltd.

Key Developments:

In February 2020, NTN Driveshaft, which first began operations in Anderson in 2017, has announced a $58 million expansion of its local facility. NTN Driveshaft first announced the construction of a new plant in Anderson in 2016 with an initial investment of $84.5 million and the creation of 300 jobs.

Types Covered:
• Non-Gear Type
• Internal Gear Type
• External Gear Type
• Cross Roller Type
• Corrosion-Resistant Type
• Other Types

Applications Covered:
• Construction Machinery
• Renewable Energy
• Industrial Machinery
• Other Applications

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