Economic Growth and Innovation in Slip Ring Market to Exceed US$ 1.2 Billion by 2031: As per TMR Study

Wilmington, Delaware, United States, July 17, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global industry was valued at US$ 889.7 Mn in 2022. It is estimated to grow at a CAGR of 3.1% from 2023 to 2031 and reach US$ 1.2 Bn by the end of 2031

Slip rings are extensively used in robotics, CNC machines, packaging machinery, and automated assembly lines in the automation industry. With automation expanding across industries, slip rings will be in greater demand. As long as a rotating base or platform is present, slip rings are used in virtually any application, including index tables, winders, and automated welders, as well as wind turbines, medical imaging machines (CT, MRI), and even turntable rides in amusement parks.

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Market Snapshot:

They can also transmit analog and digital signals, as well as data via Ethernet or other bus networks utilizing analog and digital standards. Slip rings are traditional power transmission devices, but they can also transmit digital and analog signals. Slip rings are a crucial component of the overall system since they support contactless transmissions, Ethernet transmissions, and high-current transmissions with low maintenance. Vibrations experienced during operations can be withstood by slip rings used for defense applications.

Global Slip Ring Market: Key Players

According to the slip ring market report, each of these companies is profiled based on parameters like company overviews, financial summaries, business strategies, product portfolios, and business segments.

• In February 2023, Servotecnica introduced its SVTS B series slip rings, which are offered to machine builders as continuous rotating electrical joints. With this range, the electrical power and instrumentation signals are transferred highly reliably through rotating structures through gold alloy multifiber brushes and precious metal rings in IP65 fully sealed ABS/aluminum/stainless steel housings, which are ideally suited for high throughput production machinery.
• In July 2023, Carlson Software released its successor to its Carlson C-ALS Gyro, the Carlson C-ALS HD auto-scanning laser system. With its enhanced visual inspection capabilities and accurate 3D underground mapping capabilities, this system sets new standards for the industry. The new slip-ring drums create an easier and more seamless cable deployment process.

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Key Findings of Market Report

• Slip ring market progress is being driven by the rise in the adoption of Industry 5.0.
• A wide range of wireless applications across a range of industries makes the wireless segment the fastest-growing segment.
• The use of slip rings in wind turbines is expected to increase in the near future since they boost performance and extend the life of the machines.
• With the growth of the slip ring market, the demand for silver contact material is expected to grow.
• According to forecasts, heavy equipment end-users will dominate the market.
  

Global Slip Ring: Growth Drivers

• With slip rings, mechanical performance is improved, system operation is simplified, and wires are kept from tangling, allowing fluid power and data transfer between rotary systems.
• During wind turbine operation, slip rings are crucial components, allowing power and signals to be transmitted from rotating blades to stationary control systems. As renewable energy sources like wind power are becoming more prevalent, slip rings are in high demand.
• Surgical robots, diagnostic equipment, and medical imaging systems all employ slip rings in the medical field. Slip rings are in high demand in the medical industry due to technological advances and the need for precise and reliable signal transmission.
• Machines and equipment that automate industrial processes use slip rings. Automatic assembly lines and packaging machines often use them because they require continuous rotation to keep everything running smoothly. As a result of their crucial role in facilitating continuous rotation, slip rings are common in generators, electric motors, and radar antennas. Slip rings allow electricity and power to be transmitted to the rotor of electric motors, which ensures efficient operation.

Global Slip Ring: Regional Landscape

• Increasing aerospace and defense spending will lead to a growing demand for slip rings in the United States.
• Market growth for slip rings in the United States is expected to be driven by high demand from the healthcare and energy sectors.
• Europe's slip rings market is expected to grow due to the increasing use of slip rings in wind turbines.
• Marine and defense sectors are investing heavily in slip rings for better transmission in the Indian market.
• Space exploration investment in India is expected to boost the market demand in growing years.
  

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Global Slip Ring Market: Segmentation

Type

• Wireless Slip Rings
• Pancake Slip Rings
• Pneumatic Slip Rings
• Miniature Slip Rings
• Capsule Slip Rings
• Through Hole Slip Rings
• Others (Ethernet Slip Rings, Molded Slip Rings, etc.)
  

Operating Speed

• Below 500 rpm
• Up to 1500 rpm
• Above 1500 rpm
  

Contact Material

• Gold
• Silver
• Precious Metal
  

Wire Material

• Silver-plated
• Silver-plated Copper
• Tin-plated Copper
  

Price

• Low (Below US$ 50)
• Medium (US$ 50 - US$ 100)
• High (Above US$ 100)
  

Application

• Assembly & Dispensing
• Bottle Labeling Machines
• Wind Turbines
• Capping Machines
• Robotics
• CCTV Cameras & Systems
• Others (Packaging Machines, Video Systems, etc.)
  

End-user

• Aviation & Aerospace
• Defense
• Heavy Equipment
• Medical
• Others (Marine, Factory Automation, Semiconductor, etc.)
  

Distribution Channel

• Direct
• Indirect

By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
  

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