IndustryARC Offered the Slewing Bearings Market Analysis Report
Slewing Bearing Market is to be driven by demand for Wind Turbines and Solar Panels CAGR of 6.9% till 2020.
The market for slewing bearings has been growing consistently over the years. With rising demand from different industries, this market is projected to showcase prominent growth in the coming years as well, representing a substantial opportunity for bearing manufacturers and suppliers.
According to IndustryARC Analysis, slewing bearings market is projected to increase from $2.8bn in 2014 at a CAGR of 6.9%. The market is increasing due to the growing demand for renewable energy sources such as wind turbines and solar panels. Wind and Solar energy are one of the major applications of slewing bearings and is estimated to grow at a CAGR of 8.2% to $602M by 2020.
The slewing bearing market is concentrated among four to five major players in 2014. Major players own a market share of more than 60% in the revenue; which are ThyssenKrupp, IMO Group, SKF Group, Forgital Group and NTN-SNR.
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