Authored By: Sarah
30 Nov 2020

Slip Rings Market Size to Grow by $ 71.00 mn through 2020-2024 | Forecast and Trend Analysis

Technavio has been monitoring the slip rings market and it is expected to grow by $ 71.00 mn, accelerating at a CAGR of almost 2% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

Slip Rings Market: Emerging Trends to Impact Market Growth

Increasing demand for slip rings from wind power generation plants to emerge as a key trend in the industrial slip rings market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.

Slip Rings Market 2020-2024 | Development of Wireless and Custom Models to Drive Growth

Slip Rings Market: Vendor Analysis

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Cavotec SA, Cobham Plc, Deublin Co. LLC, Dynamic Sealing Technologies Inc., Kübler Group, Mercotac Inc., Mersen Corporate Services SAS, Moog Inc., RUAG Group, and Westinghouse Air Brake Technologies Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

For more insights into this market:Download a Free Sample Report

The Global Slip Rings Market is expected to grow by USD 71 million accelerating at a CAGR of almost 2% during the forecast period. Techanvio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus. Download our free sample report with COVID-19 analysis 

Slip Rings Market 2020-2024 | Development of Wireless and Custom Models to Drive Growth

Slip Rings Market: Segmentation by Application

During 2019, the commercial-industrial segment dominated the Global Slip Rings Market in 2019 driven by the rising availability of technologically advanced slip rings in the market. The segment includes slip rings used in industrial motors, generators, and medical devices. This growth is further augmented by the increasing demand for modular slip rings from the segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the slip rings market size.

The growing demand for slip rings from wind power generation plants is one of the critical factors expected to drive market growth during the forecast period. There is an increasing preference for the use of clean energy generation from wind turbines across the globe. This will drive the installation of slip rings in wind turbines as it increases the efficiency of the machines and improves their life span. They facilitate reliable transmission of power and data signals while postively impacting the turbine’s performance. 

Slip ring manufacturers are gradually focusing on the development of wireless slip rings as they provide higher efficiency in the transmission of power. Additionally, these rings supply power to rotating and highly mobile industrial equipment efficiently. Moreover, they are less expensive when compared to others and are gaining popularity as an effective alternative to electromechanical slip rings in various applications. This will subsequently fuel slip rings market growth in the coming years.

Slip Rings Market: Vendor Analysis

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Cavotec SA, Cobham Plc, Deublin Co. LLC, Dynamic Sealing Technologies Inc., Kübler Group, Mercotac Inc., Mersen Corporate Services SAS, Moog Inc., RUAG Group, and Westinghouse Air Brake Technologies Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio forecasts three scenarios (optimistic, probable, and pessimistic) to evaluate the impact of COVID-19 Download a Free Sample Report. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

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