By the conclusion of the forecast period of 2020 and 2030, the global slip ring market is predicted to have grown steadily, achieving a valuation of US$ 1 billion. Slip rings are electromechanical components commonly used in industrial applications in devices that require rotation to transfer electric or power signals. These parts are used in a variety of industrial automation applications.
Slip ring manufacturers are increasingly focusing on developing specialised slip rings with wireless capabilities in order to improve power transmission capabilities while leveraging demand from mobile industrial equipment manufacturers, which is helping to boost future growth prospects.
However, the worldwide ongoing coronavirus outbreak has had a negative impact on the industry, owing to manufacturing sector restrictions and transportation and logistics delays, which will have an impact on the market in the months ahead. On the other hand, the slip ring market‘s long-term growth trajectory is encouraging, as governments increasingly invest in renewable energy sources such as wind turbines, as well as advances in wireless slip rings to increase the goods’ lifetime and efficiency.
Key Segments of Slip Ring Market
- Wireless Slip Rings
- Pancake Slip Rings
- Pneumatic Slip Rings
- Miniature Slip Rings
- Capsule Slip Rings
- Molded Slip Rings
- Others (Hybrid Slip Rings, etc.)
- Aviation & Aerospace
- Others (Factory Automation, etc.)
- North America
- Latin America
- Asia Pacific
- Middle East & Africa (MEA)
The Analyst’s Point of View
“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 the easier availability of new technologies, particularly associated with clean energy generation through setups such as wind turbines,” according to the report.
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