September 08, 2023 15:02 ET | Source: Zion Market Research Zion Market Research
NEW YORK, United States, Sept. 08, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Electrical Slip Rings Market By Type (Wireless Slip Rings, Through Hole Slip Rings, Capsule Slip Rings, Pancake Slip Rings, Miniature Slip Rings, And Pneumatic Slip Rings), By End-User (Medical, Aviation & Aerospace, Defense, And Heavy Equipment), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. Cement Carbon Brush
“According to the latest research study, the global electrical slip rings market size was valued at around USD 905.64 million in 2022. The market is expected to grow above a CAGR of 3.45% and is anticipated to reach over USD 1184.96 million by 2030.”
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Electrical Slip Rings Market Overview:
An electrical slide ring is electromechanical equipment that transfers power and electric signals from a stationary to a rotating structure. In addition, it can be used in electromechanical devices that require rotation for transmission of power or signals. Moreover, electrical slip rings can improve mechanical performance, facilitate system functions, and eliminate wires susceptible to damage at movable junctions. Typically, these components are found in electric generators, alternators, and wind turbines. According to reports, an electrical slip ring is electric gearbox equipment that facilitates the passage of energy between two electric rotating components, similar to the operation of an electric motor.
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Electrical Slip Rings Market: Growth Factors
The global market for electrical slide rings will expand as demand for aircraft, turbines, marine, CT scanners, radio telescopes, closed-circuit cameras, helicopters, and generators rises. In addition, electrical slip rings have extensive applications in wind turbines for the generation of renewable energy.
In addition, the expansion of space activities has resulted in the massive production of satellites, ground vehicles, and missiles, which has stimulated the global market. Significant product penetrations in the heavy equipment industry will enhance global market trends. In the future years, the global market size will increase due to the introduction of new products.
Electrical Slip Rings Market: Restraints
Massive maintenance costs, inadequate speed regulation, and low external resistance in rotor circuits can impede the expansion of the global electrical slip rings market. Fluctuations in the cost of raw materials and stringent laws governing the product's use can hinder the expansion of the global industry.
Electrical Slip Rings Market: Segmentation
The global electrical slip rings market is sectored into type, end-user, and region.
In type terms, the global electrical slip rings market is segregated into wireless slip rings, through-hole slip rings, capsule slip rings, pancake slip rings, miniature slip rings, and pneumatic slip rings segments. Furthermore, the through-hole slip rings segment, which garnered nearly one-fourth of the global market share in 2022, is projected to record the fastest CAGR in the ensuing years.
Based on end-user, the global electrical slip rings industry is bifurcated into medical, aviation & aerospace, defense, and heavy equipment segments. Moreover, the heavy equipment segment, which accounted lucratively towards the global industry revenue in 2022, is set to retain its dominant position in the global industry in the years ahead.
Browse the full “Electrical Slip Rings Market By Type (Wireless Slip Rings, Through Hole Slip Rings, Capsule Slip Rings, Pancake Slip Rings, Miniature Slip Rings, And Pneumatic Slip Rings), By End-User (Medical, Aviation & Aerospace, Defense, And Heavy Equipment), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Emerging Trends, Demand, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/electrical-slip-rings-market
Asia-Pacific, which accounted for half of the global electrical slip rings market's revenue in 2022, will be the leading region between 2023 and 2030. In addition, the rise in the use of industrial robotics and heavy equipment in countries such as India, China, and Japan will accentuate regional market trends. The expansion of the regional market will be bolstered by an increase in the allocation of funds to the renewable energy industry. The emphasis of market participants on expanding their product portfolios and regional expansion will contribute significantly to the growth of the regional market.
Due to the presence of robust defence and aerospace sectors in countries such as the U.S., the North American electrical slide ring market is projected to record the highest CAGR over the next few years. The regional industry expansion will be driven by a significant increase in the product supply to various end-use industries, such as healthcare, industrial manufacturing, and healthcare. Aside from this, a rise in fundraising for space exploration activities in the United States will spur the growth of the industry in the subcontinent.
The report contains qualitative and quantitative research on the global Electrical Slip Rings market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Electrical Slip Rings market include;
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The global Electrical Slip Rings market is segmented as follows:
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