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.
Ring main unit (RMU) is used in a
secondary distribution system. It is basically used for an uninterrupted power
supply. It is used for medium voltage distribution in compact substations,
small buildings, residential housing complex etc. Increase in demand of
electricity across the globe, is the primary driving factor of ring main unit
market. Additionally, rising demand for renewable energy is also fueling the
demand of ring main unit (RMU). However, the cost of ring main units being
higher than conventional switchgears is the restraining factor that may hamper
the growth of global ring main unit market.
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The report for Global Ring Main Unit
Market of Market Research Future comprises of extensive primary research along
with the detailed analysis of qualitative as well as quantitative aspects by
various industry experts, key opinion leaders to gain the deeper insight of the
market and industry performance. The report gives the clear picture of current
market scenario which includes historical and projected market size in terms of
value and volume, technological advancement, macro economical and governing
factors in the market.
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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) and EPE Switchgear (M) Sdn.
Bhd. (Malaysia).
Regional
Analysis
Asia-Pacific dominates the global ring
main unit market followed by Europe. Rapid expansions in industrialization as
well as the growing renewable sector in this region, increase the demand of
ring main unit market. This region is expected to grow at the fastest pace
during the forecast period. Europe is another important market and is expected
to contribute significantly during the forecast period mainly due to upgrading
the existing infrastructure.
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