South America 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)
Market Introduction
The slewing bearing market in South America is sub segmented into Brazil, Argentina, and Rest of SAM. The region is rich in oil reserves, with Venezuela having the largest oil reserves in the world. Also, Brazil and Columbia have a large number of oil reserves, which contributes to the demand for slewing bearings in this region. Further, the expansion of renewable energy infrastructure is one of the critical areas of focus in in Latin American countries, to attain sustainable economic development as well as to address the climate change issues. ~25% of the region's energy comes from renewable sources, including hydropower and biofuels. The South American region is rich in minerals and thus attracts investors from all over the world. Chile is the world's leading copper exporter; Brazil is the world's third-biggest iron producer; Mexico is the world's largest silver producer; and Peru is a major exporter of silver, copper, gold, and lead. This is creating favorable conditions for the growth of the slewing bearings market players. Furthermore, slewing bearings are widely used in industries such as aerospace, heavy equipment, defense, medical equipment, industrial machinery, semiconductor production, and renewable energy. Despite the lack of presence of major manufacturers of slewing bearing, SAM holds high growth potential for the slewing bearing market owing to major investments and ongoing infrastructure development. The CODIV-19 pandemic severely affected major production and mining operations in 2020. However, the demand for slewing bearings is increasing in the region with the resumption of major mining and renewable energy projects 2021.
Currently, Brazil has the highest number of COVID-19 cases, followed by Argentina, Colombia, and Peru, in South America. Governments of several countries in SAM have initiated several actions to protect their citizens and contain COVID-19 spread. Brazil is home to the largest manufacturing industries among all SAM countries, and it is also the only modern aircraft manufacturing country in the region. The slowdown in aerospace, manufacturing, oil & gas operations in the SAM has impaired the supply chain. This has hampered the demand for several industrial components, including slewing bearings. Thus, the outbreak of COVID-19 has had a negative impact on the South American slewing bearings market.
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Market Overview and Dynamics
The slewing bearing market in South America is expected to grow from US$ 128.82 million in 2021 to US$ 191.70 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028. Increasing defense budgets; owing to the increasing concerns about national security, governments are allocating greater funds to strong-arm their defense forces. Higher military budget allocations enable the military forces to focus on the development of robust arms and ammunition, indigenous technologies, communication system, and various other technologies. Currently, communication and combat system modernization practices are peaking among most military forces, as a significant percentage of defense budget is spent on procuring advanced weapons and electronic equipment such as combat tanks, missile systems, and communication systems. The slewing bearings are widely used turrets of combat tanks, missile launchers, precision radar antennas, communication antennae, and gun mounts. Thus, increasing defense budgets in different countries are driving the slewing bearing market growth.
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 South America 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 South America 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 South America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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 South America 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 South America slewing bearing market
- Efficiently plan M&A and partnership deals in South America 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 South America slewing bearing market
- Obtain market revenue forecast for market by various segments from 2021-2028 in South America region.
South America 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
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- 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 South America Slewing Bearing Market – By Rolling Element
1.3.2 South America Slewing Bearing Market – By Gear Type
1.3.3 South America Slewing Bearing Market – By Application
1.3.4 South America Slewing Bearing Market- By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. South America Slewing Bearing Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 South America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. South America Slewing Bearings Market – Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Defense Budgets
5.1.2 Flourishing 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 – South America Analysis
6.1 Slewing Bearing Market South America Overview
6.2 South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
7. South America Slewing Bearing Market Analysis – By Rolling Element
7.1 Overview
7.2 South America Slewing Bearing Market, By Rolling Element (2020 and 2028)
7.3 Ball
7.3.1 Overview
7.3.2 Ball: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
7.4 Roller
7.4.1 Overview
7.4.2 Roller: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
8. South America Slewing Bearing Market Analysis – By Gear Type
8.1 Overview
8.2 South America Slewing Bearing Market, By Gear Type (2020 and 2028)
8.3 Internal Gear
8.3.1 Overview
8.3.2 Internal Gear: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Ungeared
8.4.1 Overview
8.4.2 Ungeared: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
8.5 External Gear
8.5.1 Overview
8.5.2 External Gear: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
9. South America Slewing Bearing Market Analysis – By Application
9.1 Overview
9.2 South America 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: South America 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: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Medical
9.5.1 Overview
9.5.2 Medical: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Industrial Machinery
9.6.1 Overview
9.6.2 Industrial Machinery: South America 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: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Mining
9.8.1 Overview
9.8.2 Mining: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
9.9 Others
9.9.1 Overview
9.9.2 Others: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
10. South America Slewing Bearing Market – Country Analysis
10.1 South America: Slewing Bearing Market
10.1.1 South America: Slewing Bearing Market, by Key Country
10.1.1.1 Brazil: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Brazil: Slewing Bearing Market, by Rolling Element
10.1.1.1.2 Brazil: Slewing Bearing Market, by Gear Type
10.1.1.1.3 Brazil: Slewing Bearing Market, by Application
10.1.1.2 Argentina: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Argentina: Slewing Bearing Market, by Rolling Element
10.1.1.2.2 Argentina: Slewing Bearing Market, by Gear Type
10.1.1.2.3 Argentina: Slewing Bearing Market, by Application
10.1.1.3 Rest of South America: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Rest of South America: Slewing Bearing Market, by Rolling Element
10.1.1.3.2 Rest of South America: Slewing Bearing Market, by Gear Type
10.1.1.3.3 Rest of South America: Slewing Bearing Market, by Application
11. South America Slewing Bearings Market - COVID-19 Impact Analysis
11.1 South America
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
13. Company Profiles
13.1 IMO Group
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 Italcuscinetti S.p.A. a Socio Unico
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 Liebherr
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 NTN Corporation
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 Schaeffler Technologies AG & Co. KG
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 SKF
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 Thyssenkrupp Rothe Erde Germany GmbH
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 THE TIMKEN COMPANY
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
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. South America Slewing Bearing Market, by Country – Revenue and Forecast to 2028 (USD Million)
Table 3. Brazil: Slewing Bearing Market, by Rolling Element – Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil: Slewing Bearing Market, by Gear Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Brazil: Slewing Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 6. Argentina: Slewing Bearing Market, by Rolling Element – Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina: Slewing Bearing Market, by Gear Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Argentina: Slewing Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. Rest of South America: Slewing Bearing Market, by Rolling Element – Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of South America: Slewing Bearing Market, by Gear Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. Rest of South America: Slewing Bearing Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 12. List of Abbreviation
LIST OF FIGURES
Figure 1. South America Slewing Bearing Market Segmentation
Figure 2. South America Slewing Bearing Market Segmentation – By Country
Figure 3. South America 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. Brazil to Show Great Traction During Forecast Period
Figure 8. South America – PEST Analysis
Figure 9. Expert Opinion
Figure 10. South America Slewing Bearing Market: Impact Analysis of Drivers and Restraints
Figure 11. South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. South America Slewing Bearing Market Revenue Share, by Rolling Element (2020 and 2028)
Figure 13. Ball: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Roller: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 15. South America Slewing Bearing Market Revenue Share, by Gear Type (2020 and 2028)
Figure 16. Internal Gear: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Ungeared: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. External Gear: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. South America Slewing Bearing Market Breakdown, by Application (2020 and 2028)
Figure 20. Wind and Solar Energy: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Aerospace and Defense: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Medical: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Industrial Machinery: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 24. Oil and Gas: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Mining: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Others: South America Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. South America: Slewing Bearing Market – Revenue by Country to 2028 (US$ Million)
Figure 28. South America: Slewing Bearing Market Revenue Share, by Key Country (2020 and 2028)
Figure 29. Brazil: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Argentina: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Rest of South America: Slewing Bearing Market – Revenue and Forecast to 2028 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in South America Country Markets
- 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
- To understand the South America 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 South America slewing bearing market
- Efficiently plan M&A and partnership deals in South America 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 South America slewing bearing market
- Obtain market revenue forecast for market by various segments from 2021-2028 in South America region.