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Slewing Bearings After Market is anticipated to hit $1.66 billion by 2023 at a CAGR of 6.90%

Slewing Bearings After Market

Europe region holds the largest market share in the Slewing Bearings After Market, and is anticipated to reach $505.72 million by 2023 at a CAGR of 7.5%.

HYDERABAD, TELANGANA, INDIA, June 28, 2018 / -- According to the new market research report by IndustryARC titled “Slewing Bearings After Market: By Gear Types (Ungeared, External Gear, Internal Gear); By Construction (Single-row Four Point Contact Ball, Cross roller, Double roller); By Dimension (OD < 2.5m, 2.5m < OD < 4.5m, 4.5m <OD < 6m, More than 6m; By Aftermarket Industry (Construction, Mining, Oil&Gas) By Applications (Excavation, Medical, Turbines); By Geography - (2015 – 2023)”, the market is driven by the increasing need for repair and maintenance in application specific slewing bearings and rising focus on renewable energy generation.

Europe held the largest market share in the Slewing Bearings After Market

However, APAC witnesses highest growth during the forecast period and is expected to reach $469.27 million by 2023 at a CAGR of 10.5%. Europe Slewing Bearings Market is mainly driven by the production of oil and gas industry. The sharp rise in oil production every year is also providing impetus to the industry in this region. The key applications include Mining, Marine Vessels, Military, Packaging, Robotic Equipment, and Medical Equipment among others.

Selected Value Chain Analysis done in the full report
The value chain depicts several stakeholders such as components, raw material suppliers, research organization and patent holders, various legislative authorities as well as testing and certifying bodies.
Sub component manufacturers comprises of raw material providers, fabricated structures and some other minute components manufacturing enterprises.
Initially, the product prototype developed by the R&D department (in case of new product) or pre-specified requirements is given to the component manufacturer by the end user who then forwards their requirements to the component/ sub component manufacturer.
The specification sometimes includes customized bearings based on the product design specifications and demands. The bearings will be manufactured as per the application specifications.
Key aftermarket services and products include the bearings materials suppliers, pre-fabricated structure providers, which are usually spare parts. These spare parts are to be replaced under maintenance, repair and overhaul services.

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Excerpts on Market Growth Factors
Ungeared slewing bearing market is projected to grow with CAGR of 11.1% during the forecast period to reach $122.73 million in 2023.
Slewing Bearings After-market has been primarily driven by the rising infrastructure spending in APAC and African Markets.
Other factors that drive the market include increasing need of repair and maintenance in application specific slewing bearings, and growing shift towards after-market purchase of Slewing Bearings in Automotive and Construction Sectors.
The market has witnessed investments in research and development of slewing bearings in the recent years. Currently, the market is mostly driven by product enhancements and rising number of heavy machinery products is estimated to drive the market growth of these bearings and aftermarket services over the next couple of decades.
Eight point contact ball market segment is estimated to reach $49.25 million by 2023, growing at a CAGR 7.3% during the forecast period.
Wire Race Bearing market segment is estimated to reach $71.22 million by 2023, growing at CAGR 10.8% during the forecast period.
Medical segment is witnessed a rapid growth of CAGR 12.2% and the mining segment is estimated to be dominant segment with highest revenue of $228.93million by the end of 2023 with a CAGR of 7.8%.

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Key players of Slewing Bearings After Market:

ThyssenKrupp Group, IMO Group, SKF Group, Forgital Group, NTN-SNR Group, Antex Corporation are the major players in the Global Slewing Bearings Market.
These companies offers a wide range of products along with services, tailored to the requirements of industry verticals, thereby augmenting their respective positions in the market.
Notable players in the occupant sensing systems market comprise of NTN Corporation (Japan), SKF AB (Sweden), ThyssenKrupp AG (Germany) and Schaeffler AG . (Germany)
Also, as majority of the players in the market tend to be dominant suppliers, each one of them has established a robust network for sales, distribution and aftermarket services across different end-user vertical, resulting in low bargaining power.
The slewing bearings market players will be presented with huge opportunities as the solar energy production is estimated to increase immensely in the coming years.

Slewing Bearings After Market Report is segmented as indicated below
Slewing Bearings After Market By Gear Types:
2.External Gear
3.Internal Gear
Slewing Bearings After Market By Construction/ Design
1.Single-row Four Point Contact Ball Slewing Ring Bearing
2.Cross Roller Slewing Ring Bearing
3.Double-row Ball Slewing Ring Bearings
4.Three-row Roller Slewing Ring Bearings
5.Four and eight point contact ball
6.Bi-angular roller or Tape
Slewing Bearings After Market By Rolling Element
1 Ball
2 Roller
3 Combined ball and roller
4 Track
Slewing Bearings After Market by Applications
1.Wind & Solar Energy
2.Robotic Equipment
3.Medical Equipment
5.Marine Vessels
6.Material Handling Equipment
7.Water Treatment
9.Communication Equipment
10.Construction Industry
11.Excavation Industry
12.Wind Turbines
14.Rail/Transit Industry (Marine)
15.Solar Energy
16.Oil Industry
17.Packaging Industry
Slewing Bearings After Market By Geography (Covers 12 + Countries)
Slewing Bearings After Market By Entropy

Companies Cited/Referenced/Interviewed:
Rotek Inc. (ThyssenKrupp AG)
Company 15+

Related Reports:
A.Bearings for Mechanical and Electrical Products Market

B.Factory Automation Market

What can you expect from the report?
The Slewing Bearings After Market is Prepared with the Main Agenda to Cover the following 20 points:

1.Market Size by Product Categories
2.Market trends
3.Manufacturer Landscape
4.Distributor Landscape
5.Pricing Analysis
6.Top 10 End user Analysis
7.Product Benchmarking
8.Product Developments
9.Mergers & Acquisition Analysis
10.Patent Analysis
11.Demand Analysis (By Revenue & Volume)
12.Country level Analysis (15+)
13.Competitor Analysis
14.Market Shares Analysis
15.Value Chain Analysis
16.Supply Chain Analysis
17.Strategic Analysis
18.Current & Future Market Landscape Analysis
19.Opportunity Analysis
20.Revenue and Volume Analysis

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Venkateshwar Reddy Japa
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