The latest report on Ring Main Unit Market by Infinium Global Research gives complete coverage of the Ring Main Unit Market by type (gas, air, oil insulated, solid dielectric material), installation (outdoor, indoor), applications (distribution utility, industrial, commercial) in terms of key trends, market size, forecast and CAGR growth over the period of 2019 to 2025. In addition, the study covers deep dive into key product and applications trends in the regional markets of Ring Main Unit such as North America, Europe, Asia-Pacific and Latin America over the short run and long run.
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The Rise in Power Consumption and Modernization in Existing Power Infrastructure are the Major Growth Factors of the Ring Main Unit Industry
Ring Main Unit (RMU) is 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 the 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.
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The Demand of Ring Main Unit is Increasing Due do its Application in Compact Secondary Substations, Wind Power Plants, Solar Power Plants, Small Industries
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 drive 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.
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Reasons to Buy this Report:
- Comprehensive analysis of global as well as regional markets of the Ring Main Unit.
- Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
- Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
- Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.