Global Ring Main Unit (RMU) Market was valued US$ 1.71 Bn in 2019 and is expected to reach US$ 3.3Bn by 2027, at a CAGR of 8.6 % during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Across several countries, modernization of existing power infrastructure is underway, and augmented emphasis is now being given to increasing the capacity as well as enhance the distribution network in order to meet the increasing demands. These are the primary factors driving the demand in the global market for ring main unit. Furthermore, in order to ensure continuous power supply, a number of end-use industries are installing ring main units as secondary distribution source. This factor is also anticipated to favor the demand for ring main unit in the future. On the other hand, high cost of ring main units as compared to conventional switchgear is a factor that is limiting the growth of the market.
According to type segment, the gas insulated segment accounted for the largest market size of XX % in 2016. This segment is anticipated to grow at the fastest growth rate from 2018 to 2026, on account of increasing application of gas insulated ring main units in power grids, underground installations, wind power plants, and mining applications. Also, gas insulated ring main units are compact in size and have better functionality compared to other types of ring main units. The gas insulated ring main unit market is projected to witness the maximum growth in the Asia-Pacific region.
Across numerous developed and developing countries, because of growing pollution concerns, the emphasis on renewable energy is rising, and those governments are offering favorable mandates. RMUs are now frequently integrated with in solar power plant and help in minimizing power losses as well as enhance safety with reduced cable lengths. This development is anticipated to open new opportunities for the vendors operating in the global ring main unit market.
Geographically, Asia-Pacific is expected to dominate the global ring main unit market by 2026 and is projected to grow at the highest CAGR of XX % from 2018 to 2026. There has been growing power demand in Asia-Pacific, as a result of which, significant investments have been made in the region to augment power generation capacities. These investments are anticipated to boost the demand for ring main units.
This research study involved the use of widespread secondary sources, directories, and databases to identify and collect information useful for a technical, market-oriented, and commercial study of global ring main unit market. Primary sources are mostly trade experts from core and related trades, preferred suppliers, manufacturers, distributors, service providers, technology developers, standard & certification organizations of companies, and organizations related to all the segments of this trade’s value chain.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global ring main unit (RMU) market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global ring main unit (RMU) market.
Scope of Global Ring Main Unit (RMU) Market
Global Ring Main Unit (RMU) Market, By Type
• Gas Insulated
• Air Insulated
• Oil Insulated
• Solid Dielectric Material
Global Ring Main Unit (RMU) Market, By Installation
Global Ring Main Unit (RMU) Market, By Position
Global Ring Main Unit (RMU) Market, By Component
• Switch and fuses
• Self-powered electronic relays
Global Ring Main Unit (RMU) Market, By Rating
• < 12 kV • 12 kV to 17.5 kV • 17.5 kV to 24 kV • > 24 kV
Global Ring Main Unit (RMU) Market, By Application
• Distribution Utilities
• Infrastructure and Transportation
Global Ring Main Unit (RMU) Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players Operating in Global Ring Main Unit (RMU) Market
• ABB, Ltd. (Switzerland)
• Schneider Electric SE (France)
• Eaton Corporation, PLC (Ireland)
• Siemens AG (Germany)
• General Electric Company (U.S.)
• Crompton Greaves
• L&T Electrical and Automation
• Lucy Electric
• LSIS Co.
• C&S Electric Limited
• Entec Electric Inc.
Maximize Market Research provides B2B and B2C market research on 20,000 high growth emerging technologies & opportunities in Chemical, Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors.
Name: Vikas Godage
Organization: Maximize Market Research Pvt.Ltd.Pune
Contact: +919607065656 / +919607195908