Ring Main Unit - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Ring Main Unit Market is accounted for $1.44 billion in 2019 and is expected to reach $3.39 billion by 2027 growing at a CAGR of 11.3% during the forecast period. Modernization of existing power infrastructure by integrating it with smart capabilities and favorable government initiatives/targets toward renewable energy integration are the major factors driving the market growth. However, high cost as compared to conventional switchgears and reduced profit margins of utilities due to declining energy cost are restraining the market growth. Moreover, growing renewable energy sector would provide ample opportunities for the market growth.
Ring main unit is a gas-insulated compact switchgear unit that plays an important role in secondary distribution substations. It is used to provide uninterrupted power supply by making a ring of power supply so that in case of failure of the first source of power supply, power can be supplied with the help of the second source. It is preferable over conventional switchgears owing to various properties such as high flexibility, enhanced safety, and less maintenance charges.
Based on position, the 10-position segment is likely to have a huge demand as it is the new latest version of ring main units which were used in many applications like distribution utilities, industries, infrastructure, transportation & others. By geography, Asia Pacific is going to have a lucrative growth during the forecast period. Urbanization and industrialization, along with increasing electricity consumption demand in China, Japan, and India, are likely to drive the ring main unit market in the region.
Some of the key players profiled in the Ring Main Unit Market include ABB Ltd, CHINT ELECTRICS EUROPE S.R.L, DynaGen Technologies Inc, Eaton Corporation Plc, Entec Electric & Electronic Co Ltd, General Electric Company, INDUSTRY GAS GROUP, Larsen & Toubro, LSIS Co Ltd, Madison Company Inc, McQuay Service, S&C Electric Company, Schneider Electric SE, Siemens AG, Tiepco, W. A. Benjamin Electric Company, Wenzhou Rockwill Electric Co Ltd, Yashmun Engineers Ltd and Yueqing Tenlee Electric Co Ltd.
• Self-Powered Electronic Relays
• Switch & Fuses
Fuel Types Covered:
• Circuit Breaker Unit
• Energy Metering Unit
• Fuse-Switch Unit
• < 12 kV
• 12 kV to 17.5 kV
• 17.5 kV to 24 kV
• > 24 kV
• Oil Insulated
• Dry Type
Sales Channels Covered:
• Manufacturer/Distributor/Service Provider
• Power Utilities
End Users Covered:
• Electricity Distribution
• Oil and Gas
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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