A recent report published by Infinium Global Research on ring main unit market provides in-depth analysis of segments and sub-segments in the global as well as regional ring main unit market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional ring main unit market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global ring main unit market. According to the report, the global ring main unit market is projected to grow at a CAGR of 7.9% over the forecast period of 2019-2025.
Ring Main Unit (RMU) is a completely sealed, gas insulated and consists of panels that are used as two sources of power at the same metering point for consumers. Remote operations and status monitoring RMU’s are the key trends in the ring main unit. It provides safe on load operation, easy network handling, network flexibility, quick supply restoration, continuous power supply. 10-position ring main unit is the new latest version of ring main units. It is used in various applications such as distribution utilities, industries, infrastructure, and transportation. Increasing use of secondary distribution networks, renewable energy are the major key factors driving the market.
The rise in power consumption and modernization in existing power infrastructure are the major growth factors of the ring main unit market. Furthermore, factors such as capacity addition and enhancement plans for distribution networks, ongoing government initiatives toward the expansion of existing grid networks are also driving the market growth. Increasing demand for renewable energy is fueling the growth of the market. The demand of ring main unit is increasing due to its application in compact secondary substations, wind power plants, solar power plants, small industries, hotels, office buildings, residential housing complex, shopping centers, etc. However, the high cost of RMU as compared to conventional switchgear is restraining the growth of the market. Moreover, developing the renewable energy sector is anticipated to provide growth opportunities to the market players.
Geographically, Asia-Pacific dominates the global ring main unit market due to rapid commercialization and investments across the industrial and utility-based electrification systems. The demand for ring main unit is rising due to the growing renewable sector in this region. The countries such as China and India drives Asia-Pacific ring main unit market due to the rising demand for electricity in this region. Europe is the second largest market for the ring main unit market. Increasing electricity demand along with technological advancement drives the ring main unit market in the Europe region.
The report on global ring main unit market covers segments such as type, installation, and applications. On the basis of type, the sub-markets include gas insulated, air insulated, oil insulated, and solid dielectric material. On the basis of installation, the sub-markets include outdoor, and indoor. On the basis of applications, the sub-markets include distribution utility, industrial, and commercial.
The report provides profiles of the companies in the market such as ABB, Schneider Electric SE, Eaton Corporation, PLC, Siemens AG, General Electric Company, Lucy Electric Limited, Larsen & Toubro Limited, Yokogawa Electric Corporation, SwitchGear Company, EPE Switchgear (M) Sdn. Bhd., and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of ring main unit market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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