Slip Rings Market Projected To Experience Major Revenue Surge During The Forecast Period
Jan 25, 2023
The global slip rings market size was USD 72.69 million in 2021 and is expected to register a steady revenue CAGR of 3.09% during the forecast period. Factors such as increasing deployment of wind turbines for generation of clean energy, rising investments in space-associated projects, satellites, extra-terrestrial ground vehicles and missiles, high usage of slip rings across various sectors, and increasing adoption of slip rings in crane technology are expected to drive global market growth during the forecast period.
A slip ring is an electromechanical device used for connecting a stationary system to a rotating system and is commonly used for applications that require rotation while transmitting electrical signals. Slip rings are often used across various sectors such as food and beverages, defense & aerospace, industrial & commercial, radar, test equipment, wind turbines, and video & optional systems. Slip rings comprise two main components; metal ring and brush contact. The brushes are made up of phosphor bronze or graphite, while rings are made up of conductive metals like brass and silver. The number of rings and brushes is decided on the application and design of the machine. These rings help to improve mechanical performance, simplify overall operations and eliminate the dangling of damage-prone wires from movable joints. Slip rings are classified into types such as pancake slip ring, mercury contact slip ring, through hole slip ring, ethernet slip ring, and miniature slip ring based on construction and size.
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However, high initial investments and maintenance costs and requirement of regular maintenance due to chances of damage due to temperature, dust, noise, vibration, and corrosion are key factors that can limit the adoption of slip rings to a certain extent during the forecast period.
Mid-sized Capsules Segment To Register Steady Revenue CAGR:
The mid-sized capsules segment is expected to register a steady revenue CAGR between 2022 and 2028. This can be due to availability of technologically advanced capsule sling rings, high usage of mid-sized capsules in medical equipment, CCTV security cameras, point of purchase display and automation flow lines, and increasing production of mid-sized capsules to cater to rising demand.
Wind Turbines Segment to Account for Largest Revenue Share:
The wind turbines segment is expected to account for largest revenue share during the forecast period. Factors such as increasing demand for sustainable, green, and clean energy, growing awareness about the importance of wind turbines, rising number of annual turbines deployed across various countries worldwide, and growing demand for high-end and wireless slip rings for manufacturing wind turbines are expected to drive segment revenue growth going ahead.
North America to Lead In Terms of Revenue Share:
North America is expected to lead in terms of revenue share over the forecast period owing to increasing demand for slip rings for manufacturing wind turbines, government initiatives for promoting green energy and increasing investments in developing advanced products.
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Slip Rings Market Report Highlights:
In September 2022, Orbex Group, a leading manufacturer of high-performance electronic motors and slip rings announced the launch of standard slip rings with an IP65 protection rating with washdown tolerance in many pharmaceutical, manufacturing, and food and beverages applications.
Slip Rings Market By Company:
Alpha Slip Rings
TureSci Fine Works
The global slip rings market has been segmented based on type, application, and region:
Slip Rings Market Segment by Type:
Enclosed Power Thru-Bore
Enclosed Signal Thru-Bore
Slip Rings Market Segment by Application:
Defense & Aerospace
Industrial & Commercial
Video & Optional Systems
Slip Rings Market Segment by Region:
North America (USA, Canada)
Europe (Germany, France, UK, Italy, Russia)
Asia Pacific (China, Japan, South Korea, India, Australia, Taiwan, Indonesia, Thailand, Malaysia, Philippines, Vietnam)
Latin America (Brazil, Argentina)
Middle East & Africa (Turkey, Saudi Arabia, U.A.E)
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Reasons to Purchase This Report:
Estimates 2022 to 2028 slip rings market current market trends and development trends
Market dynamics along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the slip rings market
Competitive landscape involving market share of the major players, new strategies and projects adopted by players in the last five years
Comprehensive company profiles covering product offerings, key financial information, SWOT analysis and strategies employed by major market players
Brief about impact of COVID-19 on the global slip rings market
Questions Addressed in the Report:
What revenue CAGR is the global market expected to register during the forecast period?
Which key players are leading in the global Slip Rings market?
What is the expected market size of the global Slip Rings market between 2022 and 2028?
What factors are expected to open new growth avenues and opportunities for existing and emerging market players?
What are some of the key challenges that the global market is expected to face during the forecast period?
Which region is expected to account for largest revenue share over the forecast period?
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