Asia-Pacific Slewing Bearing Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Rolling Element (Ball and Roller), Gear Type (Internal Gear, Ungeared, and External Gear), and Application (Wind and Solar Energy, Aerospace and Defense, Medical, Industrial Machinery, Oil and Gas, Mining, and Others)

Code: TIPRE00024706 | Pages: 95 | Industry: Manufacturing and Construction | Date: Sep 2021 | Type: Regional

Market Introduction

The slewing bearing market in APAC is sub segmented into China, India, Japan, Australia, South Korea, and the rest of APAC. Vast industrialization, favorable economies policies, low labor cost, positive economic development, and increasing foreign direct investments (FDIs) and foreign institutional investments (FIIs), among others, make APAC a significant contributor to the slewing bearing market. Further, governments of developing countries have been launching Make in India and Made in China 2025 to promote the establishment of manufacturing plants, to make the respective countries self-sufficient as well as to make them capable of exporting surplus goods. Owing to increase in awareness about elevating carbon emission levels, governments of APAC countries are taking various initiatives to emphasize the adoption of clean energy. Recently, China announced to increase the share of non-fossil energy by 20% by 2030; the country aims to be a carbon neutral economy by 2050. In 2020, Indian government announced its ambitious target of being able to procure 60% of its energy needs from renewables by 2030. The South Korean government aims to procure 42% of its energy from renewables and to be a carbon neutral country by 2050. Further, territorial disputes between India and China, China and Russia, India and Pakistan, South Korea and North Korea as well as the rising tension over South China are leading the respective governments to increase their military spending. In 2020, China, India, Japan, South Korea, and Australia were among the countries with the largest military spending in APAC, with the military expenditure of US$ 252 billion, US$ 65.86 billion, US$ 55 billion, US$ 44 billion, and US$ 27 billion, respectively. Further, a significant amount of these defense budgets is allocated for procuring advanced combat systems, communication systems, and military aircraft. The civil aviation industry is also growing at significant rate. According to Boeing, APAC countries are expected to receive ~17,390 deliveries in total during 2019–2038. The total fleet is expected to increase to ~19,420 aircraft by 2038. Also, the opening of Boeing and Airbus manufacturing/assembly plants, and upcoming indigenous commercial and regional aircraft such as COMAC C919 and Mitsubishi MRJ will continue to boost the Asia-Pacific market in the coming years. Local manufacturers such as Hindustan Aeronautics Limited, Aviation Corporation of China, Rostec State Corporation, and Kawasaki Heavy Industries are investing significantly to strengthen their position in the growing aviation industry. Meanwhile, steady growth of mining industry and rapid advancements in healthcare infrastructure in emerging economies in APAC are among other factors fueling the adoption of slewing bearing in the region.

 

APAC is characterized by the presence of several developing countries, positive economic outlook, and huge industrial sector, in addition to the largest share of global population. These factors make APAC a major region for the growth of the slewing bearings market. The shutdown of various plants and factories in many countries in APAC has affected the supply chains and negatively impacted the manufacturing processes, delivery schedules, and product and service sales. APAC is a global manufacturing hub with countries such as China, Japan, and South Korea leading the global manufacturing sector. Disruptions in supply chains and manufacturing activities have led to the discontinuation of the production of new slewing bearings, which is hindering the market growth. Meanwhile, the initiation of vaccination drive coupled with the reopening of economies is expected to drive the slewing bearing market and help it register positive growth from the Q1 of 2021.


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Market Overview and Dynamics

The slewing bearing market in APAC is expected to grow from US$ 1,556.89 million in 2021 to US$ 2,390.20 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028. Increasing mining industry; minerals are the backbone of human civilization as their use has accelerated the development of human society. They are widely used across the industries such as manufacturing, power generation, chemicals and petrochemicals, healthcare and pharmaceuticals, and construction. Currently, copper, coal, iron ore, gold, and aluminum are among the most mined minerals. The aggregate revenue of Top 40 mining companies has grown steadily from 2016 to 2019. In 2020, they witnessed a fall in revenue due to the COVID-19 pandemic. Heavy mining machinery such as excavator, shovels, reclaimers, and stackers are widely used for extraction of mineral at mining sites plays a crucial role, and slewing bearings are among the major component used in this machinery. With growing rate of industrialization and urbanization, the demand for minerals is projected to surge further during the forecast period, thereby propelling the mining activities. Thus, the growth of mining industry is subsequently contributing to the growth of the slewing bearing market.

 

Key Market Segments

Based on gear type, the market is segmented into external, internal, and ungeared. The internal gear segment held the largest share of APAC slewing bearing market throughout the forecast period. Based on rolling element, the slewing bearing market is segmented into ball and roller. The ball segment held a larger market share throughout the forecast period. Based on application, the slewing bearing market is segmented into wind and solar energy, aerospace & defense, medical, industrial machinery, oil & gas, mining, and others. The industrial machinery segment accounted for a major share of the APAC slewing bearing market in 2020.

 

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the slewing bearing market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Antex corp., IMO Group, Italcuscinetti S.p.A. a Socio Unico, Liebherr, NTN Corporation, Schaeffler Technologies AG & Co. KG, SKF, thyssenkrupp rothe erde Germany GmbH, and THE TIMKEN COMPANY, among others.

 

Reasons to buy report

  • To understand the APAC slewing bearing market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for APAC slewing bearing market
  • Efficiently plan M&A and partnership deals in APAC slewing bearing market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form APAC slewing bearing market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in APAC region.

APAC SLEWING BEARING MARKET SEGMENTATION

By Rolling Element

  • Ball
  • Roller

 

By Gear Type

  • Internal Gear
  • Ungeared
  • External Gear

By Application

  • Wind and Solar Energy
  • Aerospace and Defense
  • Medical
  • Industrial Machinery
  • Oil and Gas
  • Mining
  • Others

 

By Country

  • Australia
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC

Company Profiles

  • Antex corp.
  • IMO Group
  • Italcuscinetti S.p.A. a Socio Unico
  • Liebherr
  • NTN Corporation
  • Schaeffler Technologies AG & Co. KG
  • SKF
  • THE TIMKEN COMPANY
  • Thyssenkrupp Rothe Erde Germany GmbH
 

1.           Introduction

1.1          Study Scope

1.2          The Insight Partners Research Report Guidance

1.3          Market Segmentation

1.3.1          APAC Slewing Bearing Market – By Rolling Element

1.3.2          APAC Slewing Bearing Market – By Gear Type

1.3.3          APAC Slewing Bearing Market – By Application

1.3.4          APAC Slewing Bearing Market- By Country

2.           Key Takeaways

3.           Research Methodology

3.1          Coverage

3.2          Secondary Research

3.3          Primary Research

4.           APAC Slewing Bearing Market Landscape

4.1          Market Overview

4.2          PEST Analysis

4.2.1          Asia-Pacific PEST Analysis

4.3          Ecosystem Analysis

4.4          Expert Opinion

5.           APAC Slewing Bearings Market – Key Market Dynamics

5.1          Key Market Drivers

5.1.1          Flourishing Defense Budgets

5.1.2          Increasing Mining Industry

5.2          Key Market Restraints

5.2.1          Fluctuating Raw Material Prices

5.3          Key Market Opportunities

5.3.1          Growing Preference for Renewable Energy

5.4          Future Trends

5.4.1          Proliferation of Industrial Automation

5.5          Impact Analysis of Drivers and Restraints

6.           Slewing Bearing Market – APAC Analysis

6.1          Slewing Bearing Market APAC Overview

6.2          APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

7.           APAC Slewing Bearing Market Analysis – By Rolling Element

7.1          Overview

7.2          APAC Slewing Bearing Market, By Rolling Element (2020 and 2028)

7.3          Ball

7.3.1          Overview

7.3.2          Ball: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

7.4          Roller

7.4.1          Overview

7.4.2          Roller: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

8.           APAC Slewing Bearing Market Analysis – By Gear Type

8.1          Overview

8.2          APAC Slewing Bearing Market, By Gear Type (2020 and 2028)

8.3          Internal Gear

8.3.1          Overview

8.3.2          Internal Gear: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

8.4          Ungeared

8.4.1          Overview

8.4.2          Ungeared: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

8.5          External Gear

8.5.1          Overview

8.5.2          External Gear: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

9.           APAC Slewing Bearing Market Analysis – By Application

9.1          Overview

9.2          APAC Slewing Bearing Market Breakdown, by Application, 2020 & 2028

9.3          Wind and Solar Energy

9.3.1          Overview

9.3.2          Wind and Solar Energy: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

9.4          Aerospace and Defense

9.4.1          Overview

9.4.2          Aerospace and Defense: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

9.5          Medical

9.5.1          Overview

9.5.2          Medical: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

9.6          Industrial Machinery

9.6.1          Overview

9.6.2          Industrial Machinery: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

9.7          Oil and Gas

9.7.1          Overview

9.7.2          Oil and Gas: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

9.8          Mining

9.8.1          Overview

9.8.2          Mining: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

9.9          Others

9.9.1          Overview

9.9.2          Others: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

10.        APAC Slewing Bearing Market – Country Analysis

10.1        APAC: Slewing Bearing Market

10.1.1        APAC: Slewing Bearing Market – Revenue by Country (US$ Million)

10.1.2        APAC: Slewing Bearing Market, by Key Country

10.1.2.1          Australia: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2.1.1           Australia: Slewing Bearing Market, by Rolling Element

10.1.2.1.2           Australia: Slewing Bearing Market, by Gear Type

10.1.2.1.3           Australia: Slewing Bearing Market, by Application

10.1.2.2          China: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2.2.1           China: Slewing Bearing Market, by Rolling Element

10.1.2.2.2           China: Slewing Bearing Market, by Gear Type

10.1.2.2.3           China: Slewing Bearing Market, by Application

10.1.2.3          India: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2.3.1           India: Slewing Bearing Market, by Rolling Element

10.1.2.3.2           India: Slewing Bearing Market, by Gear Type

10.1.2.3.3           India: Slewing Bearing Market, by Application

10.1.2.4          Japan: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2.4.1           Japan: Slewing Bearing Market, by Rolling Element

10.1.2.4.2           Japan: Slewing Bearing Market, by Gear Type

10.1.2.4.3           Japan: Slewing Bearing Market, by Application

10.1.2.5          South Korea: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2.5.1           South Korea: Slewing Bearing Market, by Rolling Element

10.1.2.5.2           South Korea: Slewing Bearing Market, by Gear Type

10.1.2.5.3           South Korea: Slewing Bearing Market, by Application

10.1.2.6          Rest of APAC: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

10.1.2.6.1           Rest of APAC: Slewing Bearing Market, by Rolling Element

10.1.2.6.2           Rest of APAC: Slewing Bearing Market, by Gear Type

10.1.2.6.3           Rest of APAC: Slewing Bearing Market, by Application

11.        APAC Slewing Bearings Market - COVID-19 Impact Analysis

11.1        Asia Pacific

12.        Industry Landscape

12.1        Overview

12.2        Market Initiative

12.3        Merger and Acquisition

13.        Company Profiles

13.1        Antex corp.

13.1.1        Key Facts

13.1.2        Business Description

13.1.3        Products and Services

13.1.4        Financial Overview

13.1.5        SWOT Analysis

13.1.6        Key Developments

13.2        IMO Group

13.2.1        Key Facts

13.2.2        Business Description

13.2.3        Products and Services

13.2.4        Financial Overview

13.2.5        SWOT Analysis

13.2.6        Key Developments

13.3        Italcuscinetti S.p.A. a Socio Unico

13.3.1        Key Facts

13.3.2        Business Description

13.3.3        Products and Services

13.3.4        Financial Overview

13.3.5        SWOT Analysis

13.3.6        Key Developments

13.4        Liebherr

13.4.1        Key Facts

13.4.2        Business Description

13.4.3        Products and Services

13.4.4        Financial Overview

13.4.5        SWOT Analysis

13.4.6        Key Developments

13.5        NTN Corporation

13.5.1        Key Facts

13.5.2        Business Description

13.5.3        Products and Services

13.5.4        Financial Overview

13.5.5        SWOT Analysis

13.5.6        Key Developments

13.6        Schaeffler Technologies AG & Co. KG

13.6.1        Key Facts

13.6.2        Business Description

13.6.3        Products and Services

13.6.4        Financial Overview

13.6.5        SWOT Analysis

13.6.6        Key Developments

13.7        SKF

13.7.1        Key Facts

13.7.2        Business Description

13.7.3        Products and Services

13.7.4        Financial Overview

13.7.5        SWOT Analysis

13.7.6        Key Developments

13.8        Thyssenkrupp Rothe Erde Germany GmbH

13.8.1        Key Facts

13.8.2        Business Description

13.8.3        Products and Services

13.8.4        Financial Overview

13.8.5        SWOT Analysis

13.8.6        Key Developments

13.9        THE TIMKEN COMPANY

13.9.1        Key Facts

13.9.2        Business Description

13.9.3        Products and Services

13.9.4        Financial Overview

13.9.5        SWOT Analysis

13.9.6        Key Developments

14.        Appendix

14.1        About The Insight Partners

14.2        Word Index

LIST OF TABLES

Table 1.              APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Table 2.              APAC Slewing Bearing Market, by Country – Revenue and Forecast to 2028 (USD Million)

Table 3.              Australia: Slewing Bearing Market, by Rolling Element – Revenue and Forecast to 2028 (US$ Million)

Table 4.              Australia: Slewing Bearing Market, by Gear Type – Revenue and Forecast to 2028 (US$ Million)

Table 5.              Australia: Slewing Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 6.              China: Slewing Bearing Market, by Rolling Element – Revenue and Forecast to 2028 (US$ Million)

Table 7.              China: Slewing Bearing Market, by Gear Type – Revenue and Forecast to 2028 (US$ Million)

Table 8.              China: Slewing Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 9.              India: Slewing Bearing Market, by Rolling Element – Revenue and Forecast to 2028 (US$ Million)

Table 10.            India: Slewing Bearing Market, by Gear Type – Revenue and Forecast to 2028 (US$ Million)

Table 11.            India: Slewing Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 12.            Japan: Slewing Bearing Market, by Rolling Element – Revenue and Forecast to 2028 (US$ Million)

Table 13.            Japan: Slewing Bearing Market, by Gear Type – Revenue and Forecast to 2028 (US$ Million)

Table 14.            Japan: Slewing Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 15.            South Korea: Slewing Bearing Market, by Rolling Element – Revenue and Forecast to 2028 (US$ Million)

Table 16.            South Korea: Slewing Bearing Market, by Gear Type – Revenue and Forecast to 2028 (US$ Million)

Table 17.            South Korea: Slewing Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 18.            Rest of APAC: Slewing Bearing Market, by Rolling Element – Revenue and Forecast to 2028 (US$ Million)

Table 19.            Rest of APAC: Slewing Bearing Market, by Gear Type – Revenue and Forecast to 2028 (US$ Million)

Table 20.            Rest of APAC: Slewing Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)

Table 21.            List of Abbreviation

LIST OF FIGURES

Figure 1.            APAC Slewing Bearing Market Segmentation

Figure 2.            APAC Slewing Bearing Market Segmentation – By Country

Figure 3.            APAC Slewing Bearing Market Overview

Figure 4.            Ball Segment Held the Largest Market Share, Based on Rolling Element

Figure 5.            Internal Gear Segment Held the Largest Market Share, Based on Gear Type

Figure 6.            Industrial Machinery Segment Held the Largest Market Share, Based on Application

Figure 7.            China to Show Great Traction During Forecast Period

Figure 8.            Asia-Pacific – PEST Analysis

Figure 9.            Expert Opinion

Figure 10.          APAC Slewing Bearing Market: Impact Analysis of Drivers and Restraints

Figure 11.          APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 12.          APAC Slewing Bearing Market Revenue Share, by Rolling Element (2020 and 2028)

Figure 13.          Ball: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14.          Roller: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 15.          APAC Slewing Bearing Market Revenue Share, by Gear Type (2020 and 2028)

Figure 16.          Internal Gear: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17.          Ungeared: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18.          External Gear: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19.          APAC Slewing Bearing Market Breakdown, by Application (2020 and 2028)

Figure 20.          Wind and Solar Energy: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.          Aerospace and Defense: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 22.          Medical: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 23.          Industrial Machinery: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.          Oil and Gas: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25.          Mining: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26.          Others: APAC Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27.          APAC: Slewing Bearing Market Revenue Share, by Key Country (2020 and 2028)

Figure 28.          Australia: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 29.          China: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 30.          India: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 31.          Japan: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 32.          South Korea: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33.          Rest of APAC: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34.          Impact of COVID-19 Pandemic in Asia Pacific Country Markets

 

  1. Antex corp.
  2. IMO Group
  3. Italcuscinetti S.p.A. a Socio Unico
  4. Liebherr
  5. NTN Corporation
  6. Schaeffler Technologies AG & Co. KG
  7. SKF
  8. THE TIMKEN COMPANY
  9. Thyssenkrupp Rothe Erde Germany GmbH
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