Slip Ring Market Overview
The global slip ring market size is expected to reflect steady growth, surpassing a valuation of US$ 1 billion by the end of the forecast period of 2020 and 2030. Slip rings are electromechanical components that are largely used in industrial applications in devices that require rotation during the process of transmitting electric or power signals. These components are used in a number of industrial automation settings.
However, the widespread ongoing coronavirus outbreak has adversely impacted the industry, owing to restrictions imposed on the manufacturing sector, and delays in transport and logistics, which will also influence the market in the months to come. On the other hand, the growth trajectory of the slip ring market, in the long term, is positive, as governments are increasingly investing in renewable energy sources such as wind turbines, in addition to innovations in wireless slip rings to the improve longevity and efficiency of these products.
Slip Ring Market Analysis by Product
Slip rings are available in a wide range of configurations, including wireless, pancake, pneumatic, miniature, capsule, and molded slip rings, among others. Pancake slip rings are projected to account for a significant market share throughout the assessment period. Pancake slip rings are widely used for the transmission of electric signals in areas where space constraints are a key issue.
With increasing emphasis being put by end users towards miniaturization in industrial automation, requirement for pancake slip rings is anticipated to be strong, particularly for applications such as offshore cranes, which is expected to support sales in the slip ring market during the projection period. Wireless slip rings are also gaining substantial traction, driven by lack of friction and resulting increase in longevity of these components, along with improvements in terms of electric current loads, which is expected to increase sales in the years to come.
Slip Ring Market Analysis by End User
Among the different end users, space-based applications and power generation applications are expected to hold major market shares from 2020 and 2030. Manufacturers are increasingly focused on leveraging increased investments by public and private sectors in multiple countries towards space-associated projects, including satellites, missiles, and extraterrestrial ground vehicles, which will strongly drive slip ring market growth.
Further, concerns regarding global warming and climate change and increased investments towards renewable energy infrastructure are expected to generate demand for slip rings, particularly for applications in modern wind turbines that require signal transmission from rotating components to stationary bases.
Regional Outlook of Slip Ring Market
North America is a dominant market for slip rings, followed by Europe, and its position related to global slip ring market share is likely to remain unchanged for the duration of the forecast period. The North America market is estimated to reach a valuation of over US$ 250 million in 2020. On the other hand, the impact of the COVID-19 pandemic on the region, in terms of logistics, has hurt short-term prospects.
Growing demand for slip rings in various end-use sectors, including industrial manufacturing, energy, and healthcare, coupled with investments towards space exploration, particularly in the United States, and the presence of leading market players in the region, will create lucrative opportunities in the market.
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Slip Ring Market: Competitive Landscape
The global slip ring market is moderately fragmented in nature, owing to the presence of regional players. Some of the leading players in the market are Cobham Limited, Combinent Oy, MERSEN Property, Moflon Technology, Moog Inc., Pandect Precision Components Ltd., ROTAC Co. Ltd., Schleifring GmbH, SPINNER GmbH, and STEMMANN-TECKNIK. These leading players are increasingly focusing on product launches and strategic acquisitions to consolidate their market position.
- For instance, in late 2019, Moog Inc. announced the acquisition of Germany-based Gesellschaft für Antriebstechnik GmbH and GAT Inc for a valuation of over 48 million Euros, which will aid the company in complementing slip ring solutions.
COVID-19 Impact on Slip Ring Market
The impact of the COVID-19 pandemic on the global slip ring market is anticipated to be negative in the short term. The pandemic has resulted in restrictions on the global manufacturing sector, which has affected production activities in the industry. In addition, the outbreak has also limited operations in a wide range of end-use industry sectors, which will hurt growth prospects during this period.
Reduced demand during the coronavirus pandemic is expected to gradually recover towards 2021, as governments are increasingly taking efforts to minimize restrictions on international trade and regional lockdowns in the near future.
The Analyst’s Viewpoint
“Applications of slip rings in commercial-industrial sectors will be a major contributor to revenue in the global slip ring market throughout the forecast period, owing to easier availability of new technologies particularly associated with clean energy generation through setups such as wind turbines.”
Global Slip Ring Market: Scope of the Report
The new global slip ring market report by Fact.MR provides a 10-year forecast for 2020 and 2030. The report encompasses critical drivers, restraints opportunities, and threats to the growth of the global slip ring market. A detailed segmental analysis, based on product, end user, and region has been provided in the report.
Regional analysis has also been covered in terms of business execution, supply chain analysis, and market value analysis for a detailed perspective on the future scope of the global slip ring market. Furthermore, a separate section on the structure of the market is also included. The section encompasses exhaustive analysis of leading market players and strategies for business expansion in the global slip ring market space.
Slip Ring Market - Scope of the Report
Fact.MR recently published a report on the global market for slip rings. The study provides an exhaustive assessment on key market dynamics, including the drivers, trends, opportunities, restraints, and detailed information about the slip ring market structure. The market study presents detailed information about how the slip ring market will grow during the forecast period of 2020-2030.
Key indicators of market growth, including Year-on-Year (Y-o-Y) growth of the market, value chain, supply chain analysis, and compounded annual growth rate (CAGR) are explained in Fact.MR’s study in an in-depth manner. This information can help readers understand the quantitative growth prospects of the slip ring market for the forecast period.
The study is relevant for stakeholders in the slip ring market, including manufacturers, suppliers, distributors, and investors, and can help them in developing appropriate strategies to grow in the market space. Stakeholders in the slip ring market, investors, industry experts, researchers, and journalists, as well as business researchers can leverage the information and data presented in the Fact.MR study.
The study also includes statistics as well as facts related to the macro- as well as micro-economic factors that are affecting the developments in the slip ring market space. It also provides actionable insights on future trends in the slip ring market. Also, small businesses and new entrants in the slip ring industry can leverage the information presented in this study, to make strategic business decisions and gain momentum in the slip ring market.
Cutlery Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, policy & regulatory landscape, revenue generation, and sales in the slip ring market across the globe.
A comprehensive estimate on the slip ring market has also been considered through an optimistic scenario as well as a conservative scenario regarding the sales of slip rings during the forecast period. Price point comparison by region with global average price is also considered in the study.
Key Segments of Slip Ring Market
Fact.MR’s report on the slip ring market offers information divided into three key segments— product, end user, and region. This report offers essential data about the important market dynamics and growth parameters associated with these categories.
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Key Questions Answered in Fact.MR’s Slip Ring Market Report
- Which regions will remain the more profitable regional markets for slip ring market players?
- Which factors will induce a change in the demand for slip rings during the assessment period?
- How will changing trends impact the slip ring market landscape?
- How can market players capture the low-hanging opportunities in the slip ring market in developed regions?
- Which companies are leading the slip ring market space?
- What are the winning strategies of stakeholders in the slip ring market to upscale their position in this landscape?
Slip Ring Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the slip ring market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of the slip ring market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the report on the slip ring market as a primary resource.
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Slip Ring Market Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2020 to 2030