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A slip ring also known as rotary electrical joint, electric swivel is a method of making an electrical connection through a rotating assembly. A slip ring can be used in any electromechanical system that requires rotation while transmitting power or signals. It can improve mechanical performance, simplify system operation and eliminate damage-prone wires dangling from movable joints. These are used across several industrial applications and equipment, such as hose winders, jib cranes, towers, etc. Slip rings can be modified according to the requirement.
Also, technological advancement in slip rings such as modular designs and others allow technicians to easily replace a failed component in industrial and mechanical machinery.
In addition to wind turbines, these are effectively used in closed-circuit cameras, amusement park rides, CT scanners, generators, radio telescopes, and helicopters.
Global slip rings market is projected to grow at a healthy CAGR in the coming years.
The growth of this market is attributed towards major pertaining factors including the rapidly increasing environmental concerns and regulatory pressure resulting in the deployment of wind turbines, growing demand for customized slip rings from various industries, technological advancements and innovations, increasing exploration in space creating indirect demand etc.
Wide range of applications in industries such as the solar, mobile, crane, steel, packaging, wind, marine, elevator and aerospace for adaptable design measurements, multiple transmission ways, and high-power loads and also to transfer power, electrical signals, and stationary to a rotating structure provide high growth opportunity for the slip rings market.
Moreover, as applications of slip rings continue to evolve at a massive pace, with it, innovations across the slip ring market are expected to gain considerable momentum. Engineers operating in this market are increasingly focusing on leveraging new materials and technologies to improve the quality and overall performance of slip rings.
Furthermore, growth in space projects and activities such as ground vehicles, missiles, satellites, etc. generates the need for slip rings. Along with, R&D activities are expected for a steeping rise across the slip ring market in the upcoming years, as the production of insulation materials is gaining momentum. Also, major improvements in the efficiency of wind turbines to move towards a sustainable path, slip rings are expected to play a major role in achieving these targets.
Additionally, technologically advanced high-end slip rings are used in large-scale wind turbines, in multi-megawatt systems that require higher power transmission, thereby increasing the demand for slip rings in the industry.
However, high maintenance cost associated with slip rings, high replacement cost associated with damaged slip rings, poor speed regulation are some factors that are expected to hinder the growth of this market.
SLIP RING MARKET SEGMENTATION:
By Product Type:
North American region is expected to dominate the market share owing to factors such as higher defense expending, strong presence of slip ring vendors, increasing demand for wireless slip rings in the region etc. The U.S is the major contributor in the North American region.
Asia Pacific countries have majorly spent in the defense and marine sector, for better transmission purpose. The commercial sector growth has also expected to become one of the major drivers for the slip rings market in region. India and China are increasingly adopting slip rings in petrochemical and oil & gas plants due to the increasing demand for petrochemical/chemical products in these countries.
The European region is expected to deliver steady demand for the slip rings in the upcoming period. The increasing usage of slip rings in the wind turbines is estimated to scale up the demand in the Europe slip rings market.
Whereas, the demand for slip rings from the Middle East and Africa region is expected to grow owing to rapid industrialization and increasing aerospace defense industry in the region, Latin America is expected to deliver very slow growth in this market in the near future.
FEW KEY PLAYERS IN SLIP RING MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020: Estimated Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyses the global slip ring market by the following segments:
- Product Type
Customization: We also offer customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Slip Ring Industry Report
The report offers a comprehensive insight on the Slip Ring Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.