Air Insulated Ring Main Unit Market Size

Air Insulated Ring Main Unit Market Size

Air Insulated Ring Main Unit Market was valued at USD 127.7 million in 2022 and is anticipated to expand at 8.6% CAGR during 2023 to 2032. Driven by the modernization and revamping of the existing grid infrastructure. The Office of Electricity Delivery & Energy Reliability (OE) has been working with private and public partners to strengthen, improve, and transform their energy infrastructure to ensure access to secure, clean, and reliable energy resources. Henceforth, ongoing inclinations toward the enhancement of the existing grid infrastructure across the region will foster the industry growth.

The industry has witnessed sheer rise in the demand for renewable energy sources subject to the sustainable integration targets followed by several countries coupled with the UN Climate Change Conference in 2021. The regulators across Europe have implemented favorable norms and policies including beneficial incentives, subsidies, feed-in tariffs and leveraging schemes to encourage the deployment of clean energy sources. Moreover, certain policy enactments with reference to adoption of renewables across the region will prolifesrate the business outlook.

The high initial cost coupled with an escalation in replacement prices of RMU’s may act as a setback across the air insulated ring main unit market landscape. The technology subject to stringent norms and labeling standards has witnessed high-end product costs. RMU’s act as a pivotal component of the T&D network in line with voltage regulation and current conducting capacities. The product components owing to critical electricity applications and the need for operational precision integrate huge investments toward quality checks and automated manufacturing. The use of sophisticated electrical components and increasing constraints pertaining to energy efficiency further hike the component prices.