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The slip rings market size is estimated to grow by USD 127.7 million at a CAGR of 2.86% between 2022 and 2027.
The market growth relies on several factors, notably the expanding versatility in slip ring designs, spurred by advancements in technology. There's a notable surge in demand, particularly from wind power generation plants, driven by the need for efficient energy transmission solutions. This demand underscores the critical role slip rings play in facilitating seamless power transmission in wind turbines. Moreover, ongoing technological innovations continue to enhance the performance and capabilities of slip rings, further driving their adoption across various industries. As slip rings evolve to meet diverse application needs, they remain integral components in modern machinery and equipment. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
Market Forecast 2023-2027
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The Slip Rings market is witnessing significant growth, driven by diverse applications across industries such as robotics, renewable energy sources, aerospace, and heavy equipment sectors. Slip rings play a crucial role in transmitting electrical signals, electrical swivels and power between stationary and electrical rotary joint components in various systems, including wind turbines, medical equipment, and automation setups. Advanced technologies have led to the development of specialized slip ring variants like through hole, pancake slip rings, and contactless slip rings, catering to specific industry needs. With continuous innovations in conductive materials and design improvements, slip rings ensure seamless operation in critical applications such as radar systems, rotary sensors, and control consoles, making them indispensable components in modern machinery and equipment. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The Slip Rings market is witnessing significant growth, driven by diverse applications across industries such as robotics, renewable energy, aerospace, and heavy equipment sectors. Slip rings play a crucial role in transmitting electrical signals and power between stationary platform and rotating electrical connectors in various systems, including wind turbines, medical equipment, and automation setups. Advanced technologies have led to the development of specialized slip ring variants like through hole, pancake slip rings, and contactless slip rings, catering to specific industry needs. With continuous innovations in conductive materials and design improvements, slip rings ensure seamless operation in critical applications such as radar systems, rotary sensors, and control console, making them indispensable components in modern machinery and equipment.Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market.
New advancement, such as modular design, allow technicians to easily replace a faulty part in industrial and mechanical machinery. This increase in technological advancement in the slip ring is complemented by an increasing amount of R&D activities carried out by market players such as Schleifring GmbH. Other improvements include the use of ring alloy and brush material in the slip ring. Modular products are becoming more popular in various applications such as crane technology, environmental technology, and rotary tables.
In addition, suppliers such as JINPAT Electronics Co., Ltd. developed these variants using this technology. The company-designed LPK/LPKS series pancake are precise, small, and lightweight. These can operate at a higher level. Thus, these technological innovations are expected to drive the adoption of these in many industries thereby driving the growth of the market during the forecast period.
Various upgrades in the design and function of automation equipment technology have raised the demand for smaller size, high-performance devices. There is a growing emphasis on incorporating micro and micro slip rings into a variety of applications. Miniature slip ring assemblies economically solve the critical weight and space limitations in any electromechanical system. Each miniature slip ring consists of a rotor, brush block, frame, ball bearing, and dust cover.
Moreover, many players, such as Moog Inc. and MOFLON TECHNOLOGY, offer miniature and micro slip rings in the market. The MMC088 series of micro electric offered by MOFLON TECHNOLOGY has an outer diameter of 5.9 mm. Each slip ring is packed with four X (1 Amp) signal rings and uses gold-gold contacts for increased stability and longer motor life. These are mainly used in the civil and construction industry. Hence, the growing emphasis on these will boost the growth of the global market during the forecast period.
The global market is highly fragmented with the presence of many regional and international players operating in it. This increases competition among suppliers leading to the threat of strong competition among suppliers. However, the flexible nature of these has forced suppliers to offer differentiated products for different industries.
Moreover, the market players compete in terms of the price and type. This raised competition in the market is expected to make it mature in the future. This situation is more dominant in North America, Europe, and some countries in APAC. Thus, these factors are expected to impede the growth of the global market during the forecast period.
The market continues to evolve with advancements in technology and increasing demand across various industries such as cranes, mining machines, and construction equipment. Slip rings play a critical role in transmitting electrical power, data signals, and media between stationary platforms and rotating electrical connectors in a wide range of applications. With the emergence of innovative solutions like magnetic induction slip rings and contactless slip rings, industries are experiencing enhanced efficiency and reliability in their operations. Additionally, developments in fiber optics and silver-based conductive materials contribute to improved signal quality and reduced noise in critical systems such as radar systems, rotary sensors, and aerospace systems. Integration with IoT technologies further enhances functionality and connectivity, making slip rings indispensable in modern industrial automation and telecommunications sectors.
The commercial segment will account for a major share of the market's growth during the forecast period.? The growth of the commercial application segment is mainly driven by the increasing availability of technologically advanced in the market. This segment includes the use of these in motors, generators, and medical equipment. This growth is further fueled by the growing demand for modular variants in the segment.
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The commercial segment was valued at USD 273.95 million in 2017 and continued to grow until 2021.? In the commercial sector, these are used to start asynchronous electric motors in alternating current (AC) induction motors and generators. The slip ring plays an important role in the operation of the induction motor, which is widely used in escalators, packaging machines, and others. The growth of end-user segments in the commercial sector such as hospitals, shopping malls, and others is increasing the demand for escalators, consumer electronics such as air conditioners, packaging machines, and others will drive the demand in the commercial segment during the forecast period.
Based on type, the market has been segmented into up to 1500 rpm, below 500 rpm, and above 1500 rpm. The upto 1500 rpm?segment will account for the largest share of this segment.?The slip ring is an important component of equipment that requires continuous 360-degree rotation such as rotating tables, monitoring systems such as radars, etc. The product with operating speeds up to 1500 rpm are called high-speed slip rings. The operating speed of these is at least 1000 rpm. It is mainly applied in high-speed trains, non-destructive testing equipment, Eddy current testing equipment, and other equipment. Furthermore, the special technology of the structure between the stator and the rotor ensures the performance stability of the slip ring during its rotation. Hence, the applicability of operating at up to 1500 rpm in automation equipment, test instruments, and other equipment is driving the growth of the segment in the global industrial market during the forecast period.
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APAC is estimated to contribute 36% to the growth by 2027. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. The growing demand from Western and Central Europe is one of the factors that are expected to drive market growth. In Europe, Germany, Switzerland, Italy, France, and the UK are the main contributors to the market growth. Growing demand for in the energy, healthcare, and industrial sectors is expected to drive market growth in the region.
Moreover, the market in Europe has a highly fragmented structure with the presence of several local as well as international vendors. Besides, several companies, such as Berndorf AG (Berndorf, Austria), Cavotec SA (Cavotec, Switzerland), Kubler Group (Germany), Schleifring GmbH (Schleifring, Germany), SPINNER GmbH (SPINNER, Germany), and Moog have a main presence in Europe. These players offer advanced high-quality for a wide range of applications. Thus, the rising availability of these across Europe is boosting the growth of the market in the region during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Cavotec SA: The company offers products that allow the transmission of power and electrical signals from stationary platform to rotating component.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
Delachaux Group SA, Dublin Co. LLC, Dynamic Sealing Technologies Inc., Fabricast Inc., IEC Corp., Kuebler Group, Mersen Corporate Services SAS, Michigan Scientific Corp., MOFLON TECHNOLOGY CO. LTD., Moog Inc., ROTAC Co Ltd, Rotary Systems Inc., RUAG International Holding Ltd., SciTrue M, and E Technology Co. Ltd., SENRING Electronics Co. Ltd., SPINNER GmbH, United Equipment Accessories Inc., Wabtec Corp., and Wegmann Unternehmens Holding GmbH and Co. KG.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the market growth and trends opportunities from 2017 to 2027.
The Market encompasses a wide range of electromechanical equipment crucial for power transmission and electric signal transfer between a stationary structure and a rotating structure. These electromechanical devices play a pivotal role in ensuring mechanical performance and system functions in various applications.One key challenge faced by this is the potential damage to wires and movable joints due to their rotary nature. Despite this, these are integral components in electric generators, alternators, wind turbines, and other devices where energy flow between electric rotating components is essential for operations. The growth of the market involves considering the timespan and factors influencing growth, such as the increasing use of these in aircraft, turbines, CT scanners, and radio telescopes. Additionally, these find applications in closed-circuit cameras, helicopters, and through hole slip rings used in the heavy equipment segment.
Growth factors include product penetration in renewable energy generation, space activities involving satellites and ground vehicles, and missiles. New product launches, maintenance charges, and raw material costs impact the market, along with speed regulation and external resistance affecting slip ring effectiveness. The heavy equipment sector, where reliability and durability are paramount, components like rotary electrical joint play a critical role. These joints bridge the gap between stationary and rotating parts, enabling the transmission of power and signals. Utilizing metal brushes or carbon/graphite brushes against conducting rings, they ensure seamless connectivity and electrical conductivity, even in demanding environments. Whether on construction sites or industrial facilities, these components ride on tracks of innovation, continuously evolving to meet the ever-growing demands of modern machinery. Conventional products face challenges such as vibration resistance, extreme temperatures, and high maintenance costs. However, wireless slip rings offer solutions for restricted bandwidth and low-maintenance services. Other variations like through hole slip rings, capsule, miniature, and pneumatic slip rings cater to specific needs, especially in the defense segment, which heavily relies on these for various applications.
Market Scope | |
Report Coverage | Details |
Page number | 172 |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 2.86% |
Market growth 2023-2027 | USD 127.7 million |
Market structure | Fragmented |
YoY growth 2022-2023(%) | 2.71 |
Regional analysis | Europe, North America, APAC, South America, and Middle East and Africa |
Performing market contribution | APAC at 36% |
Key countries | US, China, Japan, Germany, and UK |
Competitive landscape | Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled | Cavotec SA, Delachaux Group SA, Deublin Co. LLC, Dynamic Sealing Technologies Inc., Fabricast Inc., IEC Corp., Kuebler Group, Mersen Corporate Services SAS, Michigan Scientific Corp., MOFLON TECHNOLOGY CO. LTD., Moog Inc., ROTAC Co Ltd, Rotary Systems Inc., RUAG International Holding Ltd., SciTrue M and E Technology Co. Ltd., SENRING Electronics Co. Ltd., SPINNER GmbH, United Equipment Accessories Inc., Wabtec Corp., and Wegmann Unternehmens Holding GmbH and Co. KG |
Market dynamics | Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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