Ring Main Unit Market Key Players, Industry Segments, Emerging Trends, Opportunities, Forecast Report 2023

“Global Ring Main Unit Market”
Global Ring Main Unit Market Information by Type (Oil Insulated, Gas Insulated, Air Insulated and Solid Dielectric), by Installation (Indoor and Outdoor), Application (Distribution Utilities, Industrial and Commercial) and by Region – Forecast to 2023

Market Highlights

Ring main unit (RMU) is used in a secondary distribution system. It is basically used for an uninterrupted supply of power. It is used for medium voltage distribution in compact substations, small buildings, residential housing complex etc. Rapid urbanization and smart city initiatives are driving the demand of ring main unit market. The global ring main unit market is projected to grow at a CAGR of 8.4% from 2017 to 2023, to reach the market size of USD 2.65 billion by 2023.

The report has been analyzed based on types, installation, applications, and regions. On the basis of applications, the global ring main unit market is segmented into distribution utilities, industrial and commercial. Distribution utilities dominate the application segment of the global ring main unit market. To meet the growing power demand, investments in the power sector are increasing, which ultimately drives the demand of ring main unit market. Moreover the use of ring main unit for integrated distributed generation with the central grid, is driving the distribution utilities market.

On the basis of installation, global ring main unit market is segmented as indoor and outdoor, out of which, outdoor dominates the installation segment of global ring main unit market mainly due to increasing its usage in underground installations, power grids, and mining.

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Key Players

The key players of global ring main unit market are

  • ABB Ltd. (Switzerland),
  • Schneider Electric SE (France),
  • Eaton Corporation, PLC (Ireland),
  • Siemens AG (Germany),
  • General Electric Company (U.S.),
  • Lucy Electric Limited (U.K.),
  • L&T (India),
  • Yokogawa Electric Corporation (Japan),
  • SwitchGear Company (Belgium)
  • EPE Switchgear (M) Sdn. Bhd. (Malaysia).

Gas insulated ring main unit dominates the type segment

On the basis of types, global ring main unit market is segmented into oil insulated, gas insulated, air insulated and solid dielectric. Out of them, gas insulated ring main unit dominates the type segment of global ring main unit market. Ring main unit is increasingly finding its applications in underground installations, power grids, mining and others. Additionally, it requires less space as well as it has better functionality compared to other ring main units. Whereas, oil insulated ring main units are ideal for rural and industrial settings.

Market Research Analysis 

On the basis of regions, the global ring main unit market is segmented as North America, Europe, Asia-Pacific and RoW. Asia-Pacific region dominates the ring main unit market. The demand of ring main unit market in Asia-Pacific region is driven by rapid growth in industrialization, urbanization, and construction & infrastructure activities as well as it is driven by the growing renewable sector in the region.

Europe and North America is also expected to contribute significantly to the global ring main unit market. Upgradation of existing power infrastructure network is driving the demand of ring main unit in these regions.

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Target Audience

  • Manufacturing Organizations
  • Distributors & Suppliers
  • Environmental Associations
  • Government as well as Independent Regulatory Authorities
  • Research Institute / Education Institute
  • Potential Investors

 

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