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.
Ring
main unit (RMU) is used in a secondary distribution system. It is basically
used for uninterrupted supply of power. It is used for medium voltage
distribution in compact substations, small buildings, residential housing
complex etc. Rising investment in smart
grid projects and commissioning of restructuring and expansion projects are
driving the demand of ring main unit market.
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Industry Segmentation
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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Regional Outlook
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.
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).
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