Slip Ring Market to Reach $1.7 Billion Globally by 2032 at 3.2% CAGR: Allied Market Research

The increasing demand for slip rings from the aerospace & defense sector and the advancements in slip ring technology are projected to drive the global slip ring market’s growth during the forecast period. The North America region is predicted to witness prominent growth by 2032.

Wilmington, Delaware , June 06, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Slip Ring Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, by End User : Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global slip ring market generated $1.3 billion in 2022, and is anticipated to generate $1.7 billion by 2032, rising at a CAGR of 3.2% from 2023 to 2032. 

Prime Determinants of Growth 

The rising trend of industrial automation across various sectors, such as robotics, manufacturing, packaging, & aerospace, the growing demand for efficient packaging & material handling solutions, and the expansion of medical device industry are the factors expected to drive the growth of the global slip ring market in the forecast period from 2023 to 2032. However, complex manufacturing processes and high maintenance requirements associated with slip rings may restrict market growth in the coming future. Contrarily, innovations in slip ring technology and the increasing demand for high-speed data transmission in automated systems are expected to offer remunerative opportunities for the slip ring market expansion during the forecast period. 

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Report Coverage & Details: 

Report Coverage  Details 
Forecast Period  2023–2032 
Base Year  2022 
Market Size in 2022  $1.3 billion 
Market Size in 2032  $1.7 billion 
CAGR  3.2% 
No. of Pages in Report  270 
Segments covered  Product Type, End User, and Region 
Drivers  Rising adoption of automation and robotics  Growing demand for packaging & material handling  Increasing defense budgets worldwide 
Opportunities  Innovations in slip ring technology  Development of compact & lightweight designs 
Restraints  Complex manufacturing process 

Product Type: Pancake Slip Rings Sub-segment to Flourish Immensely During the Forecast Period 

The pancake slip rings sub-segment accounted for the largest global slip ring market share of 37.5% in 2022 and is expected to hold major share by 2032. This is mainly due to their compact design, which is suited for space-restricted applications. With miniaturization trends across industries like robotics and aerospace the demand for pancake sliprings is surging. Their role in wind turbines, defense, aerospace, and entertainment industries is further propelling the sub-segment's growth. 

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End User: Space Sub-segment to Hold the Highest Share by 2032 

The space sub-segment held the largest market share of 29.5% in 2022 and is predicted to continue to dominate during the forecast period. This growth is mainly due to slip ring’s crucial role in spacecraft and satellite operations, ensuring seamless data and power transmission. In addition, the need for reliable slip ring technology is on the rise with the growing demand for satellites and space exploration missions. 

Region: North America Market to Lead in Terms of Major Share by 2032 

The North America slip ring market accounted for the largest share of 32.6% in 2022 and is predicted to continue to hold major share by 2032. This growth can be attributed to rising demand for slip rings from diverse industries in the region like manufacturing, automotive, aerospace, and robotics. Besides, slip rings enable ongoing rotation and the transfer of signals/power in industrial automation. This demand is bolstered by defense modernization initiatives and the flourishing medical device sector, which is driving the need for advanced slip ring technologies. 

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Leading Players in the Slip Ring Market: 

  • Stemmann-Technik GmbH 
  • NSD Corporation 
  • Rotac Co. 
  • Michigan Scientific Corporation 
  • Mersen S.A. 
  • Schleifring GmbH 
  • United Equipment Accessories, Inc. 
  • Moog Inc. 
  • Conductix-wampfler USA 

The report provides a detailed analysis of the key players of the global slip ring market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 

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We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.   

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