Overview of Global Slewing Drive Market Analysis
The global slewing drives market attained a value of USD 2 billion in 2020. The slew drives market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 4.5% to reach USD 2.7 billion by 2026. The slewing drives market is expected to be driven by the rising construction sector and a growing adoption of solar-powered energy alternatives. The Asia Pacific is a key market in the industry due to the rising construction industry and growing industrialisation within the region. The single axis slewing drives dominated the regional market in 2020. The slewing drive refers to a gearbox that transmits a torque required for rotation while keeping the axial and radial loads held safely. Based on its axis types, the slewing drives market can be segmented into: Single Axis Dual Axis Multiple Axis By gear, the industry can be bifurcated into: Worm Gear slew drive Spur Gear slew drive The slewing drives market can be broadly categorised on the basis of its applications segment