The new slip rings market research report from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
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Technavio has announced its latest market research report titled Global Slip Rings Market 2020-2024 (Graphic: Business Wire)
Get detailed insights on the COVID-19 pandemic Crisis and Recovery analysis of the slip rings market.
"One of the primary growth drivers for this market is the increased versatility in designs of slip rings", says a senior analyst for the Industrials industry at Technavio. As the markets recover, Technavio expects the slip rings market size to grow by USD 71.00 million during the period 2020-2024.
Slip Rings Market Segment Highlights for 2020
The slip rings market is expected to post a year-over-year growth rate of -9.70%.
Based on the application, the commercial-industrial segment led the market in 2019. The growth of the segment can be attributed to the rising availability of technologically advanced slip rings in the market.
The market growth in the segment will be significant during the forecast period.
34% of the growth will originate from the APAC region.
The rising demand for slip rings in the defense, energy, manufacturing, and automotive manufacturing industries will foster the market growth in APAC during the forecast period.
China and Japan are the key markets for slip rings in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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The slip rings market size is expected to accelerate at a CAGR of almost 2% during the forecast period.
The slip rings market is segmented by Application (Commercial-industrial, ADM, and Others) and Geography (Europe, North America, APAC, South America, and MEA).
The market is fragmented due to the presence of several established vendors holding significant market share.
The research report offers information on several market vendors, including Cavotec SA, Cobham Plc, Deublin Co. LLC, Dynamic Sealing Technologies Inc., Kübler Group, Mercotac Inc., Mersen Corporate Services SAS, Moog Inc., RUAG Group, and Westinghouse Air Brake Technologies Corp.
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