Design developments in turbines, marine, aircraft and in replacement units are driving the demand for slip rings furthering the global slip rings market.
The Slip Rings Market is expected to reach US$ 1.1 Bn during the forecast period at a 3% CAGR.
Covid-19 Impact & Market Status
The COVID-19 epidemic is expected to have a detrimental short-term influence on the slip ring industry. The epidemic has led in constraints on the worldwide manufacturing sector, affecting production activity. Furthermore, the epidemic has hampered operations in a wide variety of end-use industrial sectors, reducing development potential during this time period. Falling prices during the coronavirus epidemic has already begun to recover, as governments work to reduce restrictions on international commerce and local lockdowns in the near future. The COVID-19 epidemic is predicted to cut the wings of the worldwide slip ring industry, as both supply and demand operations continue to suffer. With strict lockdown measures enforced by governments in numerous sections of the world, industrial activity in both emerging and established nations has been slower than usual. Slip ring demand has decreased in 2020 as a result of the COVID-19 pandemic, owing to declining sales from end-use sectors.
The report investigates the financial status of the global slip rings market and determines the marketing mix of the slip rings industry. The report explores the strategies implemented by the market players during pandemic and post-pandemic for market sustainability. The marketing mix conducted in the study helps analyse the market brands and companies covering the price structure, products & services, marketing strategies, etc. The PEST analysis is the study is used to analyse the global slip rings market in terms of its external macro-environment such as political factors, economic factors, social and technological factors. The political factors analyzed are tax pressure, regulations, tariff and trade restrictions. The economic factors are inflation rate, market size, growth projections, compound annual growth rate, etc. The social factors are health concerns and issues facing the customers and the technological factors are research and development current status and future plans.
Increased Adoption Of Wind Generators In The Slip Rings Market
The market growth for slip rings in wind turbines is expected to drive market growth in the coming years. Wind turbines are becoming more prominent as a renewable resource across the world. Slip rings are projected to become more prevalent in wind turbines because they boost performance and lengthen machine life. They improve turbine efficiency by enabling for more efficient data and power signal transmission. Furthermore, the fast expansion of space undertakings and activities such as ground vehicles, missiles, and satellites would increase need for slip rings. This factor is expected to enhance slip ring demand in the coming years.
Furthermore, worries about global warming and climate change, as well as rising expenditures in renewable energy infrastructure, are likely to drive demands for slip rings, particularly in current wind turbines that necessitate signal transfer from spinning components to fixed bases.
North America Emerges As The Market Leader In The Slip Rings Market
North America is estimated to witness for the vast majority of the slip ring market. The United States has focused its investments primarily on the aerospace and defence sectors; increased defence spending is likely to result in a healthy growth forecast for the slip rings industry. Asia and the Pacific Countries like as China and India have made significant investments in the defence and maritime sectors, and for improved transmission, these industries have made significant investments in the slip rings industry. The advancement of the business community is also expected to be a major driver of the Asia Pacific slip rings market. Over the projected period, Europe, followed by Japan, is predicted to offer moderate demand for slip rings.
The European countries have a substantial production base for slip rings. The increasing use of slip rings in wind turbines is expected to propel the market in the Europe slip rings market during the projected period. The Middle East region's need for slip rings has increased as a result of fast industrialisation and an expanding aerospace defence industry. The slip rings market in Latin America is predicted to develop slowly.
Owing to benefits such as high overloading capability, smooth acceleration, prevention from abnormal heating, better control over speeds, improved efficiency and performance of motor, the slip rings is experiencing rapid adoption as opposed to other industrial alternative thus fostering remarkable progress in global slip rings market.
The slip rings market is expected to be of worth USD 1.2 billion at a CAGR of 4.7% during 2022-2029.
A slip ring is an electromechanical system that enables a stationary system to a revolving system. It is utilised in situations where power or electrical communications must be transmitted while rotating. An electrical rotary joint, revolving electrical connection, or electrical swivels are other names for a slip ring. It is utilised in a variety of electrical equipment to increase mechanical performance and make operations easier.
It is a device that allows power and electric waves to be sent from a stationary item to a revolving framework. Slip rings are utilised in a variety of industrial automation applications as well as equipment such as jib cranes and towers, and others. Furthermore, some of the key end users of slip rings are firms and organisations in the defence, space, power production, aviation & aerospace, and transportation industries, among others. Because of expanding uses and technical improvements, the market now offers a variety of slip rings, including wireless slip rings, and moulded slip rings.
Slip rings are a form of mechanical connection that transfers torque through friction. They resemble a ratchet and a snap ring and are frequently used to link pulleys, gears, and other spinning machinery. They are also utilised in wind turbines to mechanical energy between electric generators and spinning shafts. Most slip rings feature one or more slots that enable for a little amount of rotation, which aids in preventing slippage. The most frequent form of electrical connector used in robotics is slip rings. They're so prevalent that people probably use them without even noticing it every day. Slip rings are extremely thin rings with metal ends that are joined together using a flexible substance known as a slip. The slip is responsible for the slip ring's ability to carry energy from one section to another.
These rings are utilised as an electromechanical device that permits electrical and power signals to be sent from a spinning and stationary structure. Slip rings also increase system efficiency, mechanical performance, and reduce damage-prone wires from moving joints. The properties of slip rings are the most important aspect for the total system since they function for contactless transmission, Ethernet transfer, and high current transmission while requiring little maintenance. Slip rings utilised in military applications can resist high levels of vibration during operations.
When compared to other conventional motors, the initial and maintenance costs for slip rings are higher. With additional internal resistance in the rotor circuit, speed control is also weak. These are some of the issues that are likely to impede the expansion of slip rings in industrial applications impeding the global slip rings market.
Manufacturers are increasingly focusing on leveraging rising public and private sector expenditures in many nations towards space-related projects such as extra-terrestrial ground vehicles expected to fuel global slip ring market growth. Furthermore, worries about global warming and climate change, as well as rising expenditures in renewable energy infrastructure, are likely to drive market for slip rings, particularly in current wind generators that require signal transfer from spinning components to fixed bases.
Several developments, including a shift toward more dependable design for turbines, marine, and aviation, as well as an increase in the need for replacement units, are driving up the industry's demand for slip rings. Many industrial designs needed frequent demand maintenance to wash out oil and filth and clear away worn debris; in this situation, designers used pitch slip rings for modulation transmission. Certain firms have developed non-contacting slip rings in order to achieve more uniformity. Increasing adoption for slip rings in many industrial applications will generate considerable potential opportunities in the future years for global slip rings market.
The key market players in the global slip rings market are Moog Inc, Michigan Scientific Corporation, Electro-Miniatures Corporation, Alpha Slip Rings, Inc., Moflon Technology, SenRing Electronics, Moflon Technology, and Globtech among others. To get a competitive edge in the worldwide market, market participants in the present slip ring market are expected to invest in research and development innovation and improving the salient aspects of their goods. Mechanical engineers in the worldwide slip ring market are progressively concentrating on harnessing new methods and equipment to increase slip ring quality and overall performance.
Major Developments in The Global Slip Rings Market: A Snapshot
- United Equipment Accessories used 3D printing technologies in slip ring parts to provide personalised and efficient slip ring designs.
Slip Rings Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1.2 billion|
|Growth Rate||CAGR of 4.7 %|
|Segment Covered||Type, Application, End-Users, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Moog Inc, Michigan Scientific Corporation, Electro-Miniatures Corporation, Alpha Slip Rings, Inc., Moflon Technology, SenRing Electronics, Moflon Technology, and Globtech among others.|
Key Segments of the Global Slip Rings Market
Type Overview, 2019-2029 (USD Billion)
- Enclosed Signal Bore
- Small Capsule
- Enclosed Power Bore
- Mid-Sized Capsule
Application Overview, 2019-2029 (USD Billion)
- Test Equipment
- Wind Turbines
End-Users Overview, 2019-2029 (USD Billion)
Regional Overview, 2019-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa