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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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. A detailed analysis report of COVID-19 impact on Ring Main Unit Market Trends is provided with the report.
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.
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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).
Scope of the Report
This research report provides insights, on various levels of analysis such as industry analysis, market share analysis leading market players and their profiles. This report also helps in studying the target segments by providing views on emerging & high-growth segments and market conclusion. Together the market data comprise and discuss with the basic assessments on the competitive scenarios & strategies, of the Ring main unit market, including the high-growth regions, countries and their political, economic and technological environments. Furthermore the project report also provides the views over the historical market values as well as, pricing and cost analysis of the same.
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