Slewing Bearing for Wind Turbine Market is Anticipated to Grow US$ 3 Bn By 2030

The Slewing Bearing for Wind Turbine market is projected to reach US$ 3 Bn by 2030. And registering a CAGR of around 10% over the forecast period 2021 – 2030.

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The global slewing bearing market for wind turbine is broadly affected by several factors, including installation of wind turbine in the offshore sector, decline in cost of renewable technologies, and ongoing investments in expansion of the wind industry. Furthermore, introduction of stringent regulations to minimize carbon emissions and several benefits associated with green energy, such as cost competitiveness and low emissions, are some of the factors anticipated to propel the global slewing bearing market for wind turbine.

  • In terms of type, pitch bearing is anticipated to be highly lucrative segment of the global slewing bearing market for wind turbine opportunity during the forecast period.
  • In terms of material, the steel segment dominated the global slewing bearing market for wind turbine in 2020. The segment is anticipated to expand at a CAGR of 10.2% between 2021 and 2030. Steel has a unique combination of properties that makes it an ideal material for slewing bearing. Steel offers a number of significant advantages relative to other materials such as higher strength, durability, and light weight. These properties of steel make it a preferable option in the slewing bearing market for wind turbine.

Rise in awareness about green energy and implementation of stringent government rules and regulations on emission of greenhouse gases (GHGs) are compelling companies to introduce highly effective and pollution-free energy generation methods. This is driving the global slewing bearing market for wind turbine.

Wind energy is a prominent alternative for energy generated from fossil fuels. The process of energy generation from fossil fuels leads to emission of greenhouse gases (GHGs), which can adversely affect the environment through global warming, air pollution, and land pollution. Thus, increase in awareness about green energy and enactment of stringent government rules and regulations are expected to boost the demand for wind energy in the near future. This is anticipated to propel the slewing bearing market for wind turbine during the forecast period.

Dynamics

Industrialization and urbanization have been increasing significantly across the globe since the last few years. This has boosted the global demand for electricity. More than 22,300 terawatt per hour of electricity was consumed in the world in 2019.

The demand for electricity has increased in China, owing to steady economic growth and rise in industrial demand. In 2019, China consumed 6,510 TWh of electricity, a 4% rise from that in the previous year. The demand for electricity has also increased in other countries of Asia Pacific such as India, South Korea, Japan, and Indonesia.

The demand for electricity is expected to continue to rise across the globe during the forecast period. The world is focusing on renewable energy to cater to the high demand for electricity. Wind energy is a prominent source of renewable energy. Investments in the production of wind energy have increased across the world. Slewing ring bearings play a vital role in the production of wind power. They are used in pitch and yaw locations in a wind turbine. They are utilized to keep the blades rotating smoothly. Thus, rise in demand for wind energy is projected to drive the global slewing bearing market for wind turbine during the forecast period.

Regional Scope

The slewing bearing market for wind turbine in Asia Pacific is expected to expand significantly during the forecast period, owing to rise in investment in expansion of wind farms in developing countries such as China and India. China dominated the slewing bearing market for wind turbine in Asia Pacific in 2020.

The slewing bearing market for wind turbine in Europe is projected to expand considerably during the forecast period. Shift in focus of governments from production of conventional energy to production of renewable energy is the key factor driving the slewing bearing market for wind turbine in the region. The slewing bearing market for wind turbine in Middle East & Africa is likely to expand during the forecast period, owing to the vast potential of wind energy resources in the region.

Key Players

Major players operating in the global slewing bearing market for wind turbine are Liebherr-International AG, SKF Group, Xuzhou Helin Slewing Bearing Co., Ltd., Rollix, IMO, THE TIMKEN COMPANY, Schaeffler AG, NTN Corporation, thyssenkrupp AG, JTEKT Corporation, and NSK Ltd.

Report Highlights Details
Market Size US$ 3 billion by 2030
Growth Rate CAGR of 10% From 2021 to 2030
Base year 2020
Historic Data 2017 to 2020
Forecast Period 2021 to 2030
Segments Covered Type, Material, Application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Companies Mentioned Liebherr-International AG, SKF Group, Xuzhou Helin Slewing Bearing Co., Ltd., Rollix, IMO, THE TIMKEN COMPANY, Schaeffler AG, NTN Corporation, thyssenkrupp AG, JTEKT Corporation, and NSK Ltd

Market Segmentation

Market By Type

  • Yaw Bearing
  • Pitch Bearing

Market By Material

  • Steel
  • Aluminum
  • Others (including Brass and Titanium)

Market By Application

  • Onshore Wind Farm
  • Offshore Wind Farm

Market By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • Spain
    • U.K.
    • Italy
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Egypt
    • Morocco
    • Rest of Middle East & Africa

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Research Methodology

The research methodology adopted by analysts for compiling the report on the global slewing bearing market for wind turbine is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global slewing bearing market for wind turbine.

During the primary research phase, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global slewing bearing market for wind turbine.

For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global slewing bearing market for wind turbine.

Table of Contents

Chapter 1.   Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.   Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.   Executive Summary

3.1.  Market Snapshot

Chapter 4.   Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.     Raw Material Procurement Analysis

4.3.2.     Sales and Distribution Channel Analysis

4.3.3.     Downstream Buyer Analysis

Chapter 5.   Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.     Market Drivers

5.1.2.     Market Restraints

5.1.3.     Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.     Bargaining power of suppliers

5.2.2.     Bargaining power of buyers

5.2.3.     Threat of substitute

5.2.4.     Threat of new entrants

5.2.5.     Degree of competition

Chapter 6.   Competitive Landscape

6.1.1.     Company Market Share/Positioning Analysis

6.1.2.     Key Strategies Adopted by Players

6.1.3.     Vendor Landscape

6.1.3.1.          List of Suppliers

6.1.3.2.          List of Buyers

Chapter 7.   Global Slewing Bearing for Wind Turbine Market, By Type

7.1.  Slewing Bearing for Wind Turbine Market, by Type, 2021-2027

7.1.1.     Yaw Bearing

7.1.1.1.          Market Revenue and Forecast (2016-2027)

7.1.2.     Pitch Bearing

7.1.2.1.          Market Revenue and Forecast (2016-2027)

Chapter 8.   Global Slewing Bearing for Wind Turbine Market, By Material

8.1.  Slewing Bearing for Wind Turbine Market, by Material, 2021-2027

8.1.1.     Steel

8.1.1.1.          Market Revenue and Forecast (2016-2027)

8.1.2.     Aluminum

8.1.2.1.          Market Revenue and Forecast (2016-2027)

8.1.3.     Others (including Brass and Titanium)

8.1.3.1.          Market Revenue and Forecast (2016-2027)

Chapter 9.   Global Slewing Bearing for Wind Turbine Market, By End User

9.1.  Slewing Bearing for Wind Turbine Market, by End User, 2021-2027

9.1.1.     Onshore Wind Farm

9.1.1.1.          Market Revenue and Forecast (2016-2027)

9.1.2.     Offshore Wind Farm

9.1.2.1.          Market Revenue and Forecast (2016-2027)

Chapter 10.       Global Slewing Bearing for Wind Turbine Market, Regional Estimates and Trend Forecast

10.1.         North America

10.1.1.  Market Revenue and Forecast, by Type (2016-2027)

10.1.2.  Market Revenue and Forecast, by Material (2016-2027)

10.1.3.  Market Revenue and Forecast, by End User (2016-2027)

10.1.4.  U.S.

10.1.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.1.4.2.       Market Revenue and Forecast, by Material (2016-2027)

10.1.4.3.       Market Revenue and Forecast, by End User (2016-2027)

10.1.5.  Rest of North America

10.1.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.1.5.2.       Market Revenue and Forecast, by Material (2016-2027)

10.1.5.3.       Market Revenue and Forecast, by End User (2016-2027)

10.2.         Europe

10.2.1.  Market Revenue and Forecast, by Type (2016-2027)

10.2.2.  Market Revenue and Forecast, by Material (2016-2027)

10.2.3.  Market Revenue and Forecast, by End User (2016-2027)

10.2.4.  UK

10.2.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.2.4.2.       Market Revenue and Forecast, by Material (2016-2027)

10.2.4.3.       Market Revenue and Forecast, by End User (2016-2027)

10.2.5.  Germany

10.2.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.2.5.2.       Market Revenue and Forecast, by Material (2016-2027)

10.2.5.3.       Market Revenue and Forecast, by End User (2016-2027)

10.2.6.  France

10.2.6.1.       Market Revenue and Forecast, by Type (2016-2027)

10.2.6.2.       Market Revenue and Forecast, by Material (2016-2027)

10.2.6.3.       Market Revenue and Forecast, by End User (2016-2027)

10.2.7.  Rest of Europe

10.2.7.1.       Market Revenue and Forecast, by Type (2016-2027)

10.2.7.2.       Market Revenue and Forecast, by Material (2016-2027)

10.2.7.3.       Market Revenue and Forecast, by End User (2016-2027)

10.3.         APAC

10.3.1.  Market Revenue and Forecast, by Type (2016-2027)

10.3.2.  Market Revenue and Forecast, by Material (2016-2027)

10.3.3.  Market Revenue and Forecast, by End User (2016-2027)

10.3.4.  India

10.3.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.3.4.2.       Market Revenue and Forecast, by Material (2016-2027)

10.3.4.3.       Market Revenue and Forecast, by End User (2016-2027)

10.3.5.  China

10.3.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.3.5.2.       Market Revenue and Forecast, by Material (2016-2027)

10.3.5.3.       Market Revenue and Forecast, by End User (2016-2027)

10.3.6.  Japan

10.3.6.1.       Market Revenue and Forecast, by Type (2016-2027)

10.3.6.2.       Market Revenue and Forecast, by Material (2016-2027)

10.3.6.3.       Market Revenue and Forecast, by End User (2016-2027)

10.3.7.  Rest of APAC

10.3.7.1.       Market Revenue and Forecast, by Type (2016-2027)

10.3.7.2.       Market Revenue and Forecast, by Material (2016-2027)

10.3.7.3.       Market Revenue and Forecast, by End User (2016-2027)

10.4.         MEA

10.4.1.  Market Revenue and Forecast, by Type (2016-2027)

10.4.2.  Market Revenue and Forecast, by Material (2016-2027)

10.4.3.  Market Revenue and Forecast, by End User (2016-2027)

10.4.4.  GCC

10.4.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.4.4.2.       Market Revenue and Forecast, by Material (2016-2027)

10.4.4.3.       Market Revenue and Forecast, by End User (2016-2027)

10.4.5.  North Africa

10.4.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.4.5.2.       Market Revenue and Forecast, by Material (2016-2027)

10.4.5.3.       Market Revenue and Forecast, by End User (2016-2027)

10.4.6.  South Africa

10.4.6.1.       Market Revenue and Forecast, by Type (2016-2027)

10.4.6.2.       Market Revenue and Forecast, by Material (2016-2027)

10.4.6.3.       Market Revenue and Forecast, by End User (2016-2027)

10.4.7.  Rest of MEA

10.4.7.1.       Market Revenue and Forecast, by Type (2016-2027)

10.4.7.2.       Market Revenue and Forecast, by Material (2016-2027)

10.4.7.3.       Market Revenue and Forecast, by End User (2016-2027)

10.5.         Latin America

10.5.1.  Market Revenue and Forecast, by Type (2016-2027)

10.5.2.  Market Revenue and Forecast, by Material (2016-2027)

10.5.3.  Market Revenue and Forecast, by End User (2016-2027)

10.5.4.  Brazil

10.5.4.1.       Market Revenue and Forecast, by Type (2016-2027)

10.5.4.2.       Market Revenue and Forecast, by Material (2016-2027)

10.5.4.3.       Market Revenue and Forecast, by End User (2016-2027)

10.5.5.  Rest of LATAM

10.5.5.1.       Market Revenue and Forecast, by Type (2016-2027)

10.5.5.2.       Market Revenue and Forecast, by Material (2016-2027)

10.5.5.3.       Market Revenue and Forecast, by End User (2016-2027)

Chapter 11.  Company Profiles

11.1.                 Liebherr-International AG

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.                 SKF Group

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.                 Xuzhou Helin Slewing Bearing Co., Ltd.

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.                 Rollix

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.                 IMO

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.                 THE TIMKEN COMPANY

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.                 Schaeffler AG

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

11.8.                 NTN Corporation

11.8.1.  Company Overview

11.8.2.  Product Offerings

11.8.3.  Financial Performance

11.8.4.  Recent Initiatives

11.9.                 thyssenkrupp AG

11.9.1.  Company Overview

11.9.2.  Product Offerings

11.9.3.  Financial Performance

11.9.4.  Recent Initiatives

11.10.             JTEKT Corporation

11.10.1.                  Company Overview

11.10.2.                  Product Offerings

11.10.3.                  Financial Performance

11.10.4.                  Recent Initiatives

Chapter 12.  Research Methodology

12.1.                 Primary Research

12.2.                 Secondary Research

12.3.                 Assumptions

Chapter 13.  Appendix

13.1.                 About Us

13.2.                 Glossary of Terms

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