Which Factors will Induce a Change in the Demand for Slip Rings During the Assessment Period The recently published market study by Fact.MR highlights the current trends that are expected to influence the dynamics of the Slip Ring Market in the upcoming years. The report introspects the supply chain, cost structure, and recent developments pertaining to the Slip Ring Market in the report and the impact of the COVID-19 on these facets of the market. Further, the micro and macro-economic factors that are likely to impact the growth of the Slip Ring Market are thoroughly studied in the presented market study. For detailed insights on enhancing your product footprint, request for a sample here – https://www.factmr.com/connectus/sample?flag=S&rep_id=5208 The global slip ring market is estimated to be valued at over US$ 1 billion by the end of the forecast period in 2030. The industry is expected to be negatively impacted by the coronavirus outbreak owing to declining activity in a number of end-use industries and limited production, which has reduced demand for slip rings. However, the market is likely to witness faster growth in the years ahead driven by initiatives towards the development of renewable energy generation infrastructure such as wind turbines, and the growing investments by the industrial sector towards automated processes. Slip ring market players are increasingly focusing on improvements towards specialized slip rings with wireless capabilities to improve power transmission capabilities, while leveraging demand from mobile industrial equipment manufacturers, aiding growth prospects for the future. For critical insights on this market, request for methodology here – https://www.factmr.com/connectus/sample?flag=RM&rep_id=5208 Key Takeaways from Slip Ring Market Study
The global slip ring market is projected to create an absolute $ opportunity of over US$ 200 million and is expected to rise at a CAGR of around 3% through 2030. In terms of product type, pancake slip rings are anticipated to remain dominant with significant market share through 2030, on the back of growing demand for miniaturization in industrial automation. By end user, space and renewable energy sectors are likely to witness higher demand, driven by major investments from governments and private sector end user companies. North America is expected to hold major market share in the slip ring market, with the market valued at more than 250 Mn in 2020, aided by easier access to new technology and a larger presence of leading market players. With reduced industrial activities during the COVID-19 pandemic, the slip ring market will experience sluggish growth in the near future.
“Rising demand for wind turbines around the world is expected to positively impact on the rise of the slip ring market through 2030. Furthermore, improvements in terms of materials used for production and new technologies in wireless slip rings are expected to bolster the long-term prospects of the industry,” says a Fact.MR analyst. For in-depth competitive analysis, buy now – https://www.factmr.com/checkout/5208 Product Development and Launch Strategies Gain Ground