Global Slip Rings Market Size, Trends, and Analysis with COVID-19 Impact - Forecasts to 2026 By Type of Product (Pancake slip rings, Mercury-wetted slip rings, Wireless slip rings), By End-User (Industrial, Commercial, Marine, Aerospace-Defense, Others), By Region (North America, Europe, Asia Pacific and Rest of the World), Company Market Share Analysis and Competitor Analysis
Slip Rings Market Insights
The global slip rings market will propel at a high CAGR over the coming years from 2020 to 2026. A slip ring is a mechanism used to connect a stationary system to a rotating system. Slip rings are also known as electrical swivels, rotary electrical joint, or revolving electrical connector. The increasing demand for slip rings across various industries including aerospace, industrial, automotive, and marine are driving the market growth during the forecast period. The increasing demand for slip rings to produce wind turbines also drives the market growth. The rings are made up of conductive metals like brass and silver. It is installed then protected with a shaft in the center. Nylon or acrylic insulates the rings from each other. However, fluctuation in prices of raw materials and stringent government rules and regulations are some of the factors likely to restrain the market growth during the forecast period.
Slip Rings Market: By Product Type
Based on the study of product type, the market is fragmented into three segments namely; mercury-wetted slip rings, pancake slip rings, and wireless slip rings. The wireless segment is expected to be the fastest-growing segment at a high CAGR during the forecast period due to its technological advancements and a wide range of applications across various end-use industries. They can wirelessly transfer data and electricity. Wireless slip ring doesn't use metal rings or carbon brushes. The wireless slip ring is the better solution to the conventional slip ring because it eliminates the mechanical friction. In harsh conditions, this type of ring can also be used and maintenance is reduced.
Slip Rings Market: By End-User
Based on the study of end-users, the global slip ring market is bifurcated into industrial, aerospace-defense, commercial, and marine, among others. The aerospace segment is the largest revenue contributor during the forecast period. The increasing demand for slip rings in spacecraft solar arrays are driving the market growth for the aerospace segment. Slip rings are operated in armored vehicle towers to eliminate separate batteries from the turret or gunner station.
Slip Rings Market: By Region
Based on the region, the global slip rings market is split into North America, Europe, MEA, CSA, and Asia-Pacific. The largest revenue contributor in the market is the North American region during the forecast period. The growing aerospace sector and the presence of prominent aerospace players in the region are driving the market growth for slip rings. The U.S. is heavily investing and increasing expenditure in the defense sector is expected to propel the market growth in the region. Furthermore, the Asia Pacific is witnessing to be the fastest-growing region at a high CAGR during the forecast period. This is due to the increasing demand from the marine and defense sector is one of the significant factors driving the market growth in the region.
Slip Rings Market: Competitor Analysis
The main key players operating in this market are Rotac Co. Ltd., Electro-Miniatures Corporation, Schleifring GmbH, STEMMANN-TECHNIK, MERSEN, Michigan Scientific Corporation, Cobham Plc, SenRing Electronics, Alpha Slip Rings, Inc., Globetech Inc., Moflon Technology, United Equipment Accessories, Inc., Moog Inc., Conductix-Wampfler, NSD Corporation, JINPAT Electronics, and Foxtac Electric, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In December 2019, Moog, Inc. successfully acquired GAT Inc., a German company which is engaged in the manufacturing, and development of high-end fluid rotating unions and slip rings.
Slip Ring Market: By Product Type
Slip Ring Market: By End-User
Slip Ring Market: By Region
The global Slip Rings Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Slip Rings Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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