The global slip ring market is estimated to be valued at over US$ 1 billion by the end of the forecast period in 2030. The industry is expected to be negatively impacted by the coronavirus outbreak owing to declining activity in a number of end-use industries and limited production, which has reduced demand for slip rings. However, the market is likely to witness faster growth in the years ahead driven by initiatives towards the development of renewable energy generation infrastructure such as wind turbines, and the growing investments by the industrial sector towards automated processes.
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Key Takeaways from Slip Ring Market Study
- The global slip ring market is projected to create an absolute $ opportunity of over US$ 200 million and is expected to rise at a CAGR of around 3% through 2030.
- In terms of product type, pancake slip rings are anticipated to remain dominant with significant market share through 2030, on the back of growing demand for miniaturization in industrial automation.
- By end user, space and renewable energy sectors are likely to witness higher demand, driven by major investments from governments and private sector end user companies.
- North America is expected to hold major market share in the slip ring market, with the market valued at more than 250 Mn in 2020, aided by easier access to new technology and a larger presence of leading market players.
- With reduced industrial activities during the COVID-19 pandemic, the slip ring market will experience sluggish growth in the near future.
“Rising demand for wind turbines around the world is expected to positively impact on the rise of the slip ring market through 2030. Furthermore, improvements in terms of materials used for production and new technologies in wireless slip rings are expected to bolster the long-term prospects of the industry,”says a Fact.MR analyst.
Key Segments of Slip Ring Market
Fact.MR’s report on the slip ring market offers information divided into three key segments-product, end user, and region. This report offers essential data about the important market dynamics and growth parameters associated with these categories.
- 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)
Slip Ring Market: Competitive Landscape
The global slip ring market is moderately fragmented in nature, owing to the presence of regional players. Some of the leading players in the market are Cobham Limited, Combinent Oy, MERSEN Property, Moflon Technology, Moog Inc., Pandect Precision Components Ltd., ROTAC Co. Ltd., Schleifring GmbH, SPINNER GmbH, and STEMMANN-TECKNIK. These leading players are increasingly focusing on product launches and strategic acquisitions to consolidate their market position.
- For instance, in late 2019, Moog Inc. announced the acquisition of Germany-based Gesellschaft für Antriebstechnik GmbH and GAT Inc for a valuation of over 48 million Euros, which will aid the company in complementing slip ring solutions.