Slip Rings Market to increase by USD 127.7 million during 2022-2027 | Technological innovations in slip rings to drive the growth - Technavio

NEW YORK, Sept. 25, 2023 /PRNewswire/ -- The slip rings market size is expected to grow by USD 127.7 million between 2022 and 2027. However, the growth momentum of the market will progress at a CAGR of 2.86% during the forecast period. The market is segmented by Application (Commercial, Industrial, Aerospace and defense, Marine, and Others), Type (Upto 1500 rpm, Below 500 rpm, and Above 1500 rpm), and Geography (Europe, North America, APAC, South America, and Middle East and Africa). Technological innovations in slip rings drive the growth of the slip rings market. Modular design is an innovative new advancement in slip rings, which will allow technicians to easily replace a faulty part in industrial and mechanical machinery. An increasing amount of R&D activities are carried out by market players such as Schleifring GmbH. For instance, suppliers such as JINPAT Electronics Co., Ltd. developed micro slip rings using micro slip ring technology. Furthermore, the company-designed LPK/LPKS series pancake slip rings are precise, small, and lightweight, which can operate at a higher level. Hence, such factors drive the growth of the slip rings market during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View Free PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the slip rings market: 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
• Slip Rings Market is fragmented in nature.
• Market to observe 2.71% YOY growth in 2023.

Market Dynamics:

Trend

• Rising emphasis on miniature and micro slip rings is an emerging slip rigs market trend.
• Several upgrades in the design and function of automation equipment technology have raised the demand for smaller size, high-performance slip rings.
• Micro and micro slip rings are increasingly incorporated into a variety of applications. For instance, vendors like Moog Inc. and MOFLON TECHNOLOGY, offer miniature and micro slip rings in the market.
• Also, the MMC088 series of microelectric slip rings offered by MOFLON TECHNOLOGY has an outer diameter of 5.9 mm.
• Hence, such trends fuel the growth of the slip rings market during the forecast period. 

Challenge

• A highly fragmented market structure challenges the growth of the slip rings market.
• Regional and international players operating in the fragmented slip-ring market globally. 
• This increases competition among suppliers and results in the threat of strong competition among suppliers, but the flexible nature of slip rings has forced suppliers to offer differentiated products for different industries.
• The market players compete in terms of the price and type of slip rings, which raised competition in the market and is expected to make it mature in the future.
• Hence, such challenges impede the growth of the slip rings market during the forecast period.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report

Keg Segments:

The commercial segment is significant during the forecast period. The segment is mainly driven by the increasing availability of technologically advanced slip rings in the market. The commercial segment includes the use of slip rings in motors, generators, and medical equipment. Furthermore, the slip ring plays an important role in the operation of the induction motor, which is widely used in escalators, packaging machines, and others. Hence, such factors drive the growth of the commercial segment of the slip rings market during the forecast period. Get a glance at the market contribution of the segments, Request Free Sample Report 

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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Application

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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