Slip Ring Market Size Report, Share , Analysis, Trends, Growth, Forecasts, 2030

Slip Ring Industry Prospective:

The global slip ring market size was worth around USD 1452.30 million in 2022 and is predicted to grow to around USD 1990.60 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.61% between 2023 and 2030.

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Slip Ring Market: Overview

A slip ring is an electrochemical device. It is used for transmitting power and signals from a stationary structure to a rotationally moving unit. Slip rings are also known by other names including electrical rotary joints, electrical swivels, or rotating electrical connectors. Slings rings have extensive applications in several electromechanical systems and electrical machines. They are typically used for improving mechanical performance while also ensuring operations simplification. Industrial structures that need rotation while transmitting power are made using slip rings as essential components. Rotating electrical connectors are used in gun turrets, space satellites, radar antennas, electro-optic sensor gimbals, and other units. They are also a standard part of electrical generators that convert alternating current (AC) along with wind turbines, packaging machinery, and cable reels. Brush contact and a metal ring are the two main components of a slip ring. The brush is typically made of graphite; however, in some cases, phosphor bronze may also be used depending on the cost considerations. The industry for slip rings is expected to grow steadily during the forecast period.

Key Insights:

• As per the analysis shared by our research analyst, the global slip ring market is estimated to grow annually at a CAGR of around 4.61% over the forecast period (2023-2030)
• In terms of revenue, the global slip ring market size was valued at around USD 1452.30 million in 2022 and is projected to reach USD 1990.60 million, by 2030.
• The slip ring market is projected to grow at a significant rate due to the increasing focus on renewable energy generation
• Based on wire material segmentation, silver-plated copper was predicted to show maximum market share in the year 2022
• Based on application segmentation, wind turbines were the leading segment in 2022
• Based on region, Asia-Pacific was the leading revenue generator in 2022

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Slip Ring Market: Growth Drivers

Increasing focus on renewable energy generation to drive market growth

The global slip ring market is expected to grow due to the increasing focus and investments in renewable energy especially wind turbines. Slip rings are used for transferring electrical energy and power from a stationary component to a rotating unit and wind turbines have similar structures making electrical swivels the ideal choice for achieving optimum performance. Wind turbines are one of the essential tools that help in converting wind energy into electrical energy and power generation thus promoting sustainable growth. The power generated by wind turbines can be used in industrial, commercial, and residential settings.

The increasing impact of consuming non-renewable sources of energy for power generation has continued to impact the environment from all segments. For instance, natural gas sources are fast depleting and the use of natural gas is a leading cause of environmental pollution. A recent official report stated that the US currently has around 12 years of natural gas left while global levels of coal and natural gas are projected to last only until 2060. The global leaders along with private sector companies are increasingly investing more resources toward sustainable energy generation and wind turbines are the frontrunners in the list of options.

Growing applications of slip rings in the military segment to fuel market expansion trend

The slip ring industry is expected to further gain higher momentum due to the increasing use of these power-transferring tools in military applications as slip rings are essential structural components of key military tools such as satellites and radar systems. As per the latest research, around 53 operational satellites are currently orbiting the planet and more are expected to join in the coming years as the regional governments prepare for activities related to national security and space exploration. In 2022 alone, China spent around USD 12 billion on domestic space programs.

Slip Ring Market: Restraints

The requirement for frequent maintenance may limit the market adoption rate

The global slip ring market is projected to be limited in terms of growth due to the need for frequent maintenance of rotating electrical connectors. As these units are perpetually in use and subjected to strong environmental conditions such as extreme temperature and exposure to harsh chemicals or other materials, they are vulnerable to frequent wear and tear. If slip rings are not maintained on time, it may lead to structural and performance issues. However, the cost of maintaining and changing slip rings, if required, can be high, especially in an unstable economic environment.

Slip Ring Market: Opportunities

Ongoing research and development to improve slip ring performance to create exceptional growth opportunities

The global slip-ring industry is projected to come across multiple growth opportunities led by increasing research and innovation intended to improve product performance and durability. Researchers are working toward manufacturing and developing slip rings that can continue to survive for long in harsh weather conditions and continue to meet the changing technological demands from end-user verticals. In November 2022, scientists at the Swiss Plasma Center (SPC) at Ecole Polytechnique Federale de Lausanne (EPFL) announced the development of a new slip ring assembly capable of withstanding extremely high voltages that solar-powered satellites are subjected to. Most current slip ring assemblies operate at a maximum voltage of 200 V and once the maximum limit is crossed, the risk of slip ring arching increases drastically. As space satellites are evolving and becoming more powerful, the demand for basic components with high structural integrity is growing.

Slip Ring Market: Challenges

Managing high electrical noise caused due to slip rings is a crucial challenge requiring more solutions

The use of slip rings, especially in sensitive devices, leads to electrical noise generation and this attribute of the component may impact the global slip ring market growth projections. Manufacturers must ensure to develop slip rings that do not affect the overall performance of the equipment. In addition to this, the cost of premium-grade or high-application slip rings is higher as compared to other variants leading to restricted use in end-user verticals.

Slip Ring Market: Segmentation

The global slip ring market is segmented based on wire material, type, application, end-user vertical, and region.

Based on wire material, the global market segments are tin-plated copper, silver-plated copper, and silver-plated. In 2022, the highest growth was registered in the silver-plated copper segment due to exceptional mechanical and thermal properties imparted by silver-plated copper material to the overall machine structure. For instance, this variant is resistant to corrosion and offers low electrical resistance while providing high electrical conductivity owing to the presence of copper. As per official findings, out of all the metals, copper has the second-highest electrical conductivity standing at 58 MS/m at 20 °C.

Based on type, the slip ring industry divisions are through hole slip rings, capsule slip rings, miniature slip rings, pneumatic slip rings, pancake slip rings, wireless slip rings, and others.

Based on application, the global market is divided into robotics, wind turbines, bottle labeling machines, assembly & dispensing, CCTV cameras, and others. The highest revenue-generating segment in 2022 was wind turbines since slip rings ensure that these power-generating heavy-duty machines can continue to perform exceptionally well and meet the growing energy demand. The rising focus on deploying sustainable means of energy generation and distribution is leading to the rising construction of new offshore and onshore wind turbines. In November 2022, Australia witnessed the launch of its biggest wind farm project to be completed with an investment of USD 1.3 billion. TagEnergy will be responsible for developing the first stage of the project.

Based on end-user vertical, the slip ring industry is divided into medical, defense, aviation & aerospace, heavy equipment, and others.

Slip Ring Market: Report Scope

Slip Ring Market: Regional Analysis

Asia-Pacific to witness the highest growth rate during the forecast period

The global slip-ring market will be led by Asia-Pacific by 2030. China, India, Japan, and South Korea are expected to push the regional growth trend to new heights. The presence of an extensive slip ring manufacturing industry along with higher export rates have assisted the Asian countries to emerge as dominant leaders. In another one of the recent breakthroughs, Moflon, a leading China-based industry player, launched the IP68 Slip Ring that can continue to perform at around 3000 meters of water depth thus acting as an ideal choice for offshore applications. Furthermore, the increasing investments in end-user verticals such as aerospace, military, and wind turbines will assist in shaping the Asia-Pacific growth trajectory. In September 2023, Japan-based Mitsui announced that it will be investing USD 6.5 billion toward the construction of a 1 gigawatt (GW) offshore wind farm in Taiwan in association with Canada's Northland Power Inc. India, on the other hand, is deploying more resources toward strengthening its space program with the recent addition of 7 space satellites by the Indian Space Research Organization (ISRO).

Slip Ring Market: Competitive Analysis

The global slip ring market is led by players like:

• Mercer Technologies
• Moog Inc.
• Jinpat Electronics Co. Ltd.
• Schleifring und Apparatebau GmbH
• Senring Electronics Co. Ltd.
• LTN Servotechnik GmbH
• Mercotac Inc.
• Conductix-Wampfler
• Jarch
• Morgan Advanced Materials
• Aichi Tokei Denki Co. Ltd.
• UEA Inc.
• Moflon
• ROTOCON
• Panlink.

The global slip ring market is segmented as follows:

By Wire Material

• Tin-Plated Copper
• Silver-Plated Copper
• Silver-Plated

By Type

• Through Hole Slip Rings
• Capsule Slip Rings
• Miniature Slip Rings
• Pneumatic Slips Rings
• Pancake Slip Rings
• Wireless Slip Rings
• Others

By Application

• Robotics
• Wind Turbines
• Bottle Labeling Machines
• Assembly & Dispensing
• CCTV Cameras
• Others

By End-User Vertical

• Medical
• Defense
• Aviation & Aerospace
• Heavy Equipment
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa