Automotive Alternator Slip Ring Market Report Overview
The global automotive alternator slip ring market size was 428.6 million in 2022. As per our research, the market is expected to reach USD 554.3 million by 2028, exhibiting a CAGR of 4.4% during the forecast period.
The COVID-19 pandemic has been unprecedented and staggering, with the automotive alternator slip ring market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.
Controlling power connectors, electric swivels, and collectors are all names for slip rings. These rings are utilized as an electrical machine to send electrical and power signals from a spinning structure to a stationary structure. Slip rings are used in jib cranes and towers, hose winders, and other types of industrial automation. Slip rings are also used in progressive multi-spectral monitoring equipment systems to carry signals from infrared (IR), day, and night cameras from a revolving to a stationary platform. Gear reduction manufacturers have kept up with the increased network bandwidth as these designs shift from standard or analogue video to high definition (HD) digital video.
The rotor (which is rotated by the engine) creates the magnetic field in a motor vehicle alternator, while the stator (which is linked to the alternator body and therefore "static") produces the voltage. This current is then corrected by rectifying diodes or diode bridges. The alternator concept is based on the idea that the movement of a conductor in relation to a magnetic field produces a voltage across its terminals. In this illustration, the conductor spins in a magnetic field.
The automotive alternator slip ring market is being driven by rising demand for ICE vehicles, which is being driven by cheap crude oil prices, rising demand for autos in emerging nations, and stringent emissions rules. Furthermore, rising demand for ICE vehicles, fueled by reduced crude oil prices, is expected to drive market growth and development.
COVID-19 Impact: Pandemic Had a Negative Effect on the Market Due To Declining Product Demand
Although the COVID-19 pandemic is still transforming the evolution of numerous industries, the outbreak's immediate impact was diverse. While some industries experienced a reduction in demand, many others remained unaffected and exhibited exciting development opportunities. COVID-19 pandemic adversely affected the supply chain and market production which resulted in less production and sale of the product.
Latest Trends
"Adoption of Slip Rings In Wind Turbines to Increase the Demand of the Market"
The rising demand for slip rings in wind turbines is expected to drive market growth over the forecast period. Wind turbines are becoming more popular as a renewable energy source all around the world. Slip rings are projected to become more prevalent in wind turbines because they boost performance and extend machine life. They improve turbine efficiency by enabling for more efficient data and power signal transfer. Furthermore, the rapid expansion of space endeavors and activities such as ground vehicles, missiles, and satellites will increase need for slip rings. This factor is expected to enhance slip ring demand in the coming years.
Automotive Alternator Slip Ring Market Segmentation
- By Type Analysis
According to type, the market can be segmented into ICE Vehicles, Hybrid and Electric Car. ICE Vehicles is anticipated to be the leading segment.
- By Application Analysis
Based on application, the market can be divided into Passenger Vehicles, Commercial Vehicles. Passenger Vehicles will be the dominating segment.
Driving Factors
"Increasing Demand for ICE Vehicles Driven By Low Crude Oil Costs to Fuel the Market Growth"
Increasing demand for ICE vehicles driven by low crude oil costs is one of the key factors that will support the expansion of the automotive alternator slip ring industry. The rising demand for ICE-powered automobiles is a major driver of the industry. Alternators are commonly found in ICE-powered cars. As a result, the increasing use of ICE-powered automobiles is pushing up demand for automotive alternator slip rings. The rising demand for ICE-powered automobiles is a major driver of the industry. For nations that rely heavily on crude oil imports, the drop in oil prices has boosted consumer spending and has the potential to have a significant stimulating effect on the local economy. Because ICE-based vehicles continue to account for a considerable share in key economies throughout the world, the low price of crude oil will play an important role in global automobile sales during the projection period. Because of the low price of oil, operating costs are reduced, making personal transportation more affordable for customers. Alternators are commonly found in ICE-powered cars. As a result, the increasing use of ICE-powered automobiles is pushing up demand for automotive alternator slip rings.
"Rising Applications in Automobiles Sector to Drive the Market Growth"
These alternators slip rings have sufficient amount of beginning torque to support loads with high inertia. Because of the effect of the external resistance, it has a low beginning current. It can withstand a total load current that is approximately 6-7 times higher, and extra resistance can be added to manage the speed.
Restraining Factors
"High Maintenance Cost and Construction Complexity May Hinder the Market Growth"
Construction that is sophisticated, higher maintenance costs owing to slide rings and brushes when compared to comparable motors Copper loss at a high rate, low efficiency and power factor The characteristics that limit the growth of the automobile Alternator Slip Ring Market are that they are more expensive than 3-phase squirrel cage induction motors.
Automotive Alternator Slip Ring Market Regional Insights
"Asia Pacific to Hold the Largest Market Share due to Strong Economic Growth"
Due to expanding consumer spending power and strong economic growth, demand for passenger automobiles is increasing in emerging economies such as Brazil, China, and India. Industrialization and worldwide commercial activity have increased in the BRIC countries. China has retained its status as the world's largest car market share in recent years. The Indian automotive market is active and fast expanding, and various car OEMs are joining the market. The economic prosperity of the BRIC countries has fueled the expansion of the automotive sector. The expanding market share in the area, particularly in India, China, and Indonesia, will drive up demand for the market. The rising demand for automobiles, as well as the increased emphasis on vehicle efficiency, will have a significant impact on the automotive alternator slip ring market growth in this region. Asia Pacific’s primary markets for automobile alternator slip rings are China and Japan. The market in this region will increase quicker than the markets in Europe and North America.
Key Industry Players
"Key Players Focus on Partnerships to Gain a Competitive Advantage to Increase the Market Demand"
Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio and increase their automotive alternator slip ring market share. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.
List of Market Players Profiled
- RION (Japan)
- MOFLON (Sydney)
- AS-PL (Poland)
- Morgan Advanced Materials (U.K.)
- Caelex Chris Auto Electrical (South Africa)
- Bosch (Germany)
- Mersen (France)
- Auto Brite International (India)
- ELECTRAACE (India)
- Motorcar Parts of America (U.S.)
- Shanghai IUGIS Carbon Industry (China)
Report Coverage
This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 428.6 Million in 2022 |
Market Size Value By |
US$ 554.3 Million by 2028 |
Growth Rate |
CAGR of 4.4% from 2022 to 2028 |
Forecast Period |
2024-2032 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
-
What value is the global automotive alternator slip ring market expected to touch by 2028?
Based on our research the global automotive alternator slip ring market is expected to reach 554.3 million USD in 2028.
-
What CAGR is the global automotive alternator slip ring market expected to exhibit by 2028?
The global automotive alternator slip ring market is expected to exhibit a CAGR of 4.4% by 2028.
-
What are the driving factors of the Market?
Increasing demand for ICE vehicles driven by low crude oil costs and Rising applications in automobiles sector are the main factors fueling market expansion.
-
Which are the top companies operating in the Market?
The top key players in the market are RION, MOFLON, AS-PL, Morgan Advanced Materials, Caelex Chris Auto Electrical, Bosch, Mersen, Auto Brite International, ELECTRAACE, Motorcar Parts of America, and Shanghai IUGIS Carbon Industry.
