Double Row Ball Slewing Bearing Market Forecasts to 2030 - Global Analysis By Product Type, Material Type, Diameter Range, Sales Channel, Load Capacity, Technology, Application, End User and By Geography

According to Stratistics MRC, the Global Double Row Ball Slewing Bearing Market is growing at a CAGR of 8.0% during the forecast period. A Double Row Ball Slewing Bearing is an instance of expert bearing intended for use in situations where precise rotation under various load conditions is required. These bearings, which consist of two rows of rolling elements, usually balls, placed in an alternating pattern between the inner and outer rings, are efficient at managing axial, radial, and moment loads simultaneously. They are essential in a variety of industries due to their distinctive design, which permits flexible load-bearing capacities.

According to the International Organization of Motor Vehicle Manufacturers (OICA), in 2022, the production of commercial vehicles increased by up to 1.41% from 2021 to 2022. According to the Society of Indian Automobile Manufacturers (SIAM), in 2022, the production of commercial vehicles in India increased from 0.85 million in 2021 to 1.35 million in 2022.

Market Dynamics:

Driver:

Growing industrial automation

The need for accurate components that enable regulated movement and rotation in machinery has increased as companies use automated processes in increasing numbers. In this case, these bearings are essential because they offer dependable solutions for robotic systems, automated industrial gear, and material handling equipment. Additionally, these bearings are ideal for the diverse requirements of automated applications because of their special design, which consists of two rows of rolling components and enables them to sustain axial, radial, and moment loads simultaneously.

Restraint:

High initial costs

These specialty bearings frequently require a substantial initial investment because they are made for applications that need regulated rotation and movement. Potential adopters may be significantly hindered by the upfront costs, particularly in sectors with strict budgetary restrictions. For many applications, the long-term benefits of durability and accurate movement make double row ball slewing bearings an affordable option, but other industries or projects may place a higher priority on cost-effectiveness than on the cutting-edge characteristics these bearings have to offer.

Opportunity:

Technological advancements

Improved double row ball slewing bearings with increased robustness, durability, and efficiency are the result of ongoing innovation in bearing designs, materials, and production techniques. Modern technology has made it feasible to produce these bearings with higher precision, better sealing mechanisms, and high-performance materials. This in turn meets the changing requirements of many sectors for precise and dependable components. Double-row ball slewing bearing lifetime and efficiency are also enhanced by advancements in lubrication technologies and surface treatments.

Threat:

Complex installation

A high degree of technical skill and accuracy is needed to install double row ball slewing bearings because of their complex design and unique load-bearing specifications. The complicated process of aligning and fastening these bearings, particularly in heavy-duty applications, may result in longer installation durations and higher labor expenses. This difficulty may turn off potential customers who are looking for easier and more direct solutions. The complex installation process could be a big disadvantage for industries that need quick turnaround times or don't have easy access to skilled technicians

COVID-19 Impact:

Lockdowns, limitations, and industrial disruptions in the early stages caused project delays and decreased capital expenditures across a range of industries, which in turn affected the demand for double row ball slewing bearings. The prompt delivery and installation of these specialist bearings were further hampered by travel restrictions and logistical difficulties. But as companies gradually adjusted to new operating standards, demand saw a rise in the market, especially in areas like automation, infrastructure expansion, and renewable energy.

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

Because of the vital role in improving the functionality and diversity of many industrial applications, the external gear type segment held the largest market share. This design enables controlled and precise rotational movement by incorporating an external gear onto the outer ring of the bearing, consequently facilitating effective torque transmission. External Gear Type are useful in a variety of industries, including construction, material handling, and renewable energy, especially wind energy. These bearings are essential parts of heavy-duty equipment such as wind turbines and cranes, where the engagement of the external gear guarantees consistent and dependable rotation, enhancing the machinery's overall efficiency.

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

Over the forecast period, the heavy-duty segment is anticipated to grow profitably as industries increasingly turn to dependable and long-lasting bearing solutions for demanding applications. Large-scale material handling systems, mining equipment, and construction equipment are instances of heavy-duty equipment that require bearings that can endure significant loads and have precise rotational control. The need for heavy-duty double-ball slewing bearings is fueled by the growth of mining and construction operations worldwide as well as the expansion of infrastructure projects. Because of their resilience to harsh environments and capacity for steady, controlled movement, they are viewed as vital parts of heavy-duty machinery, which propels the market's expansion.

Region with largest share:

As a major center for infrastructure development and industrial activity, the Asia-Pacific area held the largest proportion. Double Row Ball Slewing Bearings are in high demand due to the robust growth of the manufacturing, construction, and renewable energy industries in nations like China, India, and Japan. The requirement for heavy-duty machinery using these bearings is growing due to factors such as the growth of transportation networks, greater investments in smart cities, and rapid urbanization.

Region with highest CAGR:

Europe is anticipated to have profitable growth because of its sophisticated industrial landscape and emphasis on innovation. The robust manufacturing industry in the region-especially in Germany, France, and Italy-contributes to the need for accurate and long-lasting bearing solutions in heavy machinery, automation, and robotics. Considering the critical role double-row ball slewing bearings play in wind turbine systems, Europe's dedication to renewable energy, with a particular emphasis on wind power, further propels the market.

Key players in the market:

Some of the key players in Double Row Ball Slewing Bearing market include Amtek Bearings, Antex Corporation, IMO Group, ISB Industries, Jieheng Group, Kinematics Manufacturing, Inc., Liebherr-International AG, Luoyang Huigong Bearing Technology Co., Ltd., NTN Corporation, R. Roller Bearing Company, Schaeffler AG, Shuangzheng Bearings, SKF Group, ThyssenKrupp Rothe Erde, Timken Company and Xuzhou Fenghe Slewing Bearing Co., Ltd.

Key Developments:

In November 2023, Greenlight Capital pushes for higher Schaeffler bid for Vitesco. Greenlight Capital, a significant shareholder in Vitesco Technologies Group, is urging for a higher takeover bid from Schaeffler AG, or considering alternative actions such as selling Vitesco's powertrain-solutions business or spinning off its electrification solutions. The investment firm, which holds a 3.5% stake in Vitesco, views Schaeffler's current offer of 91 euros per share as undervaluing the company.

In October 2023, Schaeffler AG is offering to buy Vitesco Technologies Group AG in a €3.64 billion ($3.8 billion) deal that would bolster the German ball-bearings maker's presence in the electric-vehicle supply chain.

Product Types Covered:

• External Gear Type
• Gearless Type
• Internal Gear Type
• Other Product Types

Material Types Covered:

• Carbon Steel
• Stainless Steel
• Other Material Types

Diameter Ranges Covered:

• Large Diameter Slewing Bearings
• Small Diameter Slewing Bearings

Sales Channels Covered:

• Original Equipment Manufacturers (OEMs)
• Aftermarket

Load Capacities Covered:

• Light Duty
• Medium Duty
• Heavy Duty

Technologies Covered:

• Electric Drives
• Hydraulic Drives
• Integrated Sensor Technologies
• Lubrication Systems
• Manufacturing Processes
• Material Technologies
• Noise Reduction Technologies
• Sealing Technologies
• Worm Gear Drives
• Other Technologies

Applications Covered:

• Construction Machinery
• Material Handling Equipment
• Mining Equipment
• Aerospace
• Robotic Surgery Systems
• Medical Imaging Devices
• Industrial Machinery
• Other Applications

End Users Covered:

• Energy and Power
• Entertainment and Amusement
• Industrial Robots
• 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

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances