The ring main unit market is expected to rise at a CAGR of more than 3%. Factors such as increasing energy demands from the industries and rapid infrastructure growth in the energy sector are likely to drive the ring main unit market. However, delays in the implementation of projects are expected to restrain the ring main unit market.
– Due to the increasing number of renewable energy installations that require a ring main unit at the substation level, the electricity distribution segment is expected to be the largest growing segment for the ring main unit market during the forecast period.
– A smart grid used along with the smart ring main unit is seen as a highly efficient and economical technology that can reduce carbon emissions. These technologies are likely to create several opportunities for the ring main unit market in the future.
– Due to its increasing demand for electricity and the rising electricity generation projects and connecting them in the country’s grid, Asia-Pacific is expected to be the largest market for ring main unit.
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Key Market Trends
Electricity Distribution Segment Expected to Dominate the Market
– Ring main unit (RMU) is a compact, sealed for life metal-enclosed switchgear widely used in urban power distribution network. A ring main unit includes a combination of one or more load break switch (LBS) cum earth switch as incomer and outgoing feeder and vacuum circuit breaker with associated disconnector and earth switch for load feeders.
– Most of the developed countries in the world already achieved 100% access to electricity long ago and now working on the up-gradation of its outdated distribution systems. In contemporary, the developing nations are witnessing rapid growth in the energy demand and distribution system, which is likely to use ring main units in new electricity distribution projects.
– In 2019, the global electricity generation was 27004.7 Terawatt-Hour (TWh), which was higher than what the world produced in 2018, 26652.7TWh. The increase in electricity generation and its transmission exhibits an expansion of the distribution system, which are likely to use ring main unit.
– Moreover, the ring main units are extensively used for the underground cable distribution network, a more effective and safer way to transfer electricity. The increase in the underground cable network, which is more reliable in natural calamities such as storm and earthquake, is likely to drive the ring main unit market.
– Hence, owing to the above points, the electricity distribution segment is likely to dominate the ring main unit market during the forecast period.
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