The Slewing Drives Market is to Touch $2.06 Billion by 2030; The increasing demand for Slewing Drives across various industries such as solar, wind, industrial, mobile, satellite, medical propels market growth.

Market Overview:

The Slewing Drives Market size is estimated to reach $2.06 Billion by 2030, growing at a CAGR of 7.5% during the forecast period 2023-2030, according to a recent report published by IndustryARC, titled, “Slewing Drives Market – By Axis Type (Single Axis, Dual Axis, Multiple Axis), By Application (Solar Tracker, Wind Turbines, Satellite and radar dishes, Truck Cranes, Man Lifts & Automotive Lifts, Hydraulics Machinery & Utility Equipment, Oil Equipment Attachment, Tire Handler, Telescopic Handler, Digger Derricks, Others), By Bearing Load  (Axial Loads, Radial Loads, Rotational Speed, Output Torque, Others), By Diameter (2”-5”, 5.1”-12”, 12.1”-20”, 20.1”-30”, 30.1” and Above), By End User (Solar, Wind, Industrial, Mobile, Satellite, Medical, Others), By Geography - Global Opportunity Analysis & Industry Forecast, 2023-2030”

Integration of IoT and Smart Technologies and growing trend toward electrification in the slewing drives market as industries seek to reduce carbon emissions and improve energy efficiency are fueling the growth of the Slewing Drives industry during the forecast period.

North America Dominated the Market in 2023:

North America accounted for the largest share 39% of the Slewing Drives Market in 2023 due to its strong industrial base, growing renewable energy sector, and increasing infrastructure investments. The region's focus on advanced technologies and automation in industries such as construction, mining, and manufacturing has fueled the demand for high-performance slewing drives. The rapid expansion of the renewable energy sector, particularly wind and solar power, has been a major driver, as slewing drives are essential components in solar trackers and wind turbines for optimizing energy capture. Additionally, North America’s emphasis on sustainability and reducing carbon emissions has accelerated the shift toward electric slewing drives, aligning with environmental regulations and market demand for energy-efficient solutions. The presence of key manufacturers and technological innovators in the region further supports market growth by driving advancements in product design, integration of smart technologies, and overall market expansion.

Slewing Drives Market: Key Takeaways

Integration of IoT and Smart Technologies:

The integration of IoT and smart technologies into slewing drives is revolutionizing the market by enhancing performance monitoring, predictive maintenance, and overall operational efficiency. Smart slewing drives equipped with sensors and real-time data analytics capabilities enable end-users to monitor key performance metrics, such as temperature, vibration, and load conditions. This data allows for predictive maintenance, identifying potential issues before they lead to failures, thus minimizing downtime and reducing maintenance costs. The incorporation of smart technologies also facilitates remote diagnostics and control, which is particularly beneficial for applications in inaccessible or hazardous environments like offshore wind turbines or remote construction sites. As industries increasingly prioritize operational efficiency and equipment reliability, the adoption of IoT-enabled slewing drives is expected to grow, further propelling market innovation and expansion.

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Shift Towards Electrification and Sustainability:

The market for slewing drives is undergoing a significant shift towards electrification, aligning with global trends toward sustainability and the reduction of carbon emissions. Traditional hydraulic slewing drives are being increasingly replaced by electric versions, which offer advantages such as improved precision, lower maintenance requirements, and better environmental performance. Electric slewing drives also provide smoother and quieter operation, making them suitable for applications where noise and emissions are concerns, such as urban construction sites and indoor industrial environments. This trend is particularly pronounced in the renewable energy sector, where the need for efficient and eco-friendly solutions is driving demand for electric slewing drives in solar trackers and wind turbines. As environmental regulations tighten and industries strive for greener operations, the adoption of electric slewing drives is expected to continue rising.

Scope of the Report:

Recent Developments

•  In March 2021, Liebherr delivers the world's largest worm-driven slewing drive units in the world for an innovative sailing system by eConowind. Inspired by Jacques-Yves Cousteau, Liebherr customer eConowind develops an innovative sailing system that is intended to revolutionise commercial shipping. Up to 40 metres in height, futuristic metal sails serve as propulsion support for cargo ships. The world’s largest slewing drive units turn these huge sails.
•  In September 2024, power train solutions company SEW-EURODRIVE has announced that it is rolling out a wider selection of planetary slewing drives as part of its ‘close the loop’ strategy, geared at servicing more industry sectors than previously. Among the new ranges being introduced into South Africa are its SEW PPK series and the SEW P2.e series of planetary gear units.

Slewing Drives Market: Competitive Landscape

Key companies profiled in the Slewing Drives Market are Thyssenkrupp, Bosch Rexroth, Cone Drive Operations, Inc., Brevini USA, Inc., TGB Group, Kinematics Manufacturing, Inc., Comer Industries Inc., IMO USA Corp., Liebherr, Hangzhou Ever-power Transmission Co., Ltd., SEW-EURODRIVE, Potesta & Company, LLC, Bonfiglioli Transmissions Private Limited, FDON, Coresun Drive Equipment Changzhou Co., Ltd. and others.