The global Ring
Main Unit (RMU) 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.
Global Ring Main
Unit 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.
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.
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.
Regional Analysis
By region, the ring main unit market has been
segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific
(APAC).
North America ring main unit market is driven by the
expansion of existing grid networks in the region. Moreover, heightened focus
on renewable power generation has favored the growth of the market.
The maximum share of the global ring main unit
market is held by the APAC region. Increased infrastructural activities,
fast-track industrialization, and heightened focus on the use of renewable
energy resources are fostering the growth of the market in APAC. Government
electrification projects in the emerging economies of the region along with
growing microgrid network has also created a conducive environment for the
growth of the market.
Europe ring main unit market accounts for an
advantageous share of the global market and is expected to exhibit substantial
growth over the forecast period. Growing investment in the renewable energy
space along with rising investment in infrastructural activities is spurring
the growth of the ring main unit market. Moreover, to achieve the European
Union's renewable energy targets, the region has implemented various
legislations which support the growth of the ring main unit market.
Leading 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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