Slewing Drives Market – Competition Landscape with Covers Competition Matrix, Market Share Analysis of Major Players in 2019
Slewing Drives Market: Introduction
Transparency Market Research delivers key insights on the global slewing drives market. In terms of revenue, the global slewing drives market is estimated to expand at a CAGR of ~ 5% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the slewing drives market report.
Slewing drives are gearboxes that have two to four planetary stages. These drives comprise a planetary gear unit that is robust, compact, and versatile. These gear units are made from high alloy steel. The unit is equipped with a hydraulic fail safe wet type multi-disc and electromagnetic brake. Slewing drives are optimized for best possible tooth flank and root load capacity, and minimum sliding speeds. Their design optimizes torque performance capacity and radial load capacity, while bending stresses are kept within limits to give the perfect meshing between the pinion and gear. Slew drive rings consist of a slew bearing worm shaft, housing, shaft bearings, and a motor with a hollow bore. The motor drives the motor shaft, which, in turn, drives the outer ring of slew bearing and causes it to rotate.
In this market report, TMR estimates that the wind turbines & solar tracker system segment will outpace other applications by the end of 2027, in the slewing drives market. Rise in construction is the primary reason for the growth in the demand for slewing drives across the globe. Increase in government initiatives are expected to drive the growth of the slewing drives market during the period of 2019 to 2027. All these factors are leading to the increasing demand for slewing drives. However, the high cost of equipment and high maintenance cost are expected to hamper the market during the forecast period. Slewing drives need regular maintenance and lubrication, and if this is not done, the remanufacturing cost of the drives becomes steep.
The slewing drives market has been witnessing huge change since the last few years. The future scenarios that we explored involve a combination of various factors such as growth in the construction industry, introduction of new technologies, adoption of new business strategies, etc. which are all projected to boost the market in the coming years. Moreover, the slewing drives market has been witnessing a visible technological change in recent years, which has impacted not just the slewing drives market, but the global economy as a whole.
Online distribution channels have created better opportunities for manufacturers and distributors in the industry to sell their products online. In order to cater to a wide range of customers across the globe, manufacturers and distributors of slewing drives are focusing on selling their products through various e-Commerce portals.
Slewing Drives Market: Prominent Regions
- The capacity of renewable energy production in India is expected to more than double by 2022. Hence, Asia Pacific is anticipated to be the biggest market for slewing drives during the forecast period.
- Countries in the Gulf Cooperation Council (GCC) plan to install a total of almost 7 gigawatts new power generation capacity from renewable sources by early 2020.
- Countries such as Brazil, Uruguay, and Chile have the highest solar irradiation due to favourable climate conditions. These countries are expected to increase the production of solar energy rapidly in the coming years, which will drive the slewing drives market as well.