Research Nester’s recent market research analysis on “Slew Drives Market: Global Demand Analysis & Opportunity Outlook 2037” delivers a detailed competitors analysis and a detailed overview of the global slew drives market in terms of market segmentation by axis type, load, application, distribution channel and by region.

Rising Mining Sector and Increasing Aerospace & Defense Industry to Promote Global Market Share of Slew Drives Market

The global slew drives market is estimated to grow majorly on account of the increased usage in the construction industry and expanding agriculture activities. The slew machinery is utilized as the claw of the rotating mechanism that turns the design structure concise and conducive to utilization and maintenance. It has been estimated that almost 300.1 million new houses will be required by the year 2037. On the back of this, the global slew drives market is anticipated to grow during the forecasted period. Other than this, in photovoltaic power generation, the slewing drive can be applied to the yaw part of the wind generator. It has been estimated that there are almost 341,010 wind turbines present on the planet. On the back of rising demand for wind energy, the global slew drives market is anticipated to garner significant growth. Moreover, photovoltaic power generation is also an imperative application of slewing drive. The solar photovoltaic modules with the use of a slewing drive can precisely adjust the elevation and rotation angle of the host. It has been witnessed that almost 40 countries across the globe with a cumulative photovoltaic capacity of more than 1 gigawatt in countries such as Canada, South Africa, etc. Owing to this, the global slew drives market is projected to garner remarkable growth during the forecasted period.

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Some of the major growth factors and challenges that are associated with the growth of the global slew drives market are:

Growth Drivers:

Increasing Applications in Maritime Industry
Surging Usage in Construction Sector
Challenges:

Susceptibility to failure, high installation costs, and strict regulatory costs are some of the major factors anticipated to hamper the global market size of global slew drives market.

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By application, the global slew drives market is segmented into solar tracker, man lifts, wind turbines, hydraulic machinery, cranes, and drilling equipment. Out of these, the solar tracker segment is projected to gain a robust market share of almost 40% in the coming years. The growth of the segment can be attributed to the rising demand for solar trackers that are often utilized to maximize efficiency.

By region, the Europe slew drives market is to generate the highest revenue by the end of 2037. The growth in the region can be attributed to the rising maritime industry. The maritime includes recreational and ship-building craft, which is hugely supported by the European Union.

This report also provides the existing competitive scenario of some of the key players of the global slew drives market which includes company profiling of Dana SAC UK Ltd, Cone Drive Operations Inc., The Timken Company, Cleveland Gear Company, Inc., Kavitsu Bearings, TGB Group Technologies, EngNetGlobal, KPI Green Energy Ltd, IMO Holding GmbH, Young Powertech Inc., TotalEnergies

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