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Asia Pacific Gas Insulated Ring Main Unit Market Size

  • Report ID: GMI6972
  • Published Date: Oct 2023
  • Report Format: PDF

Asia Pacific Gas Insulated Ring Main Unit Market Size

Asia Pacific Gas Insulated Ring Main Unit Market was valued at over USD 849.8 million in 2023 and is estimated to grow at a CAGR of over 6.3% during 2024 and 2032. Rising demand for electricity, which is propelled by factors like population growth, industrial expansion, and technological progress. These units provide a robust and dependable solution for medium voltage power distribution, ensuring a continuous power supply. The phenomenon of rapid urbanization in various countries has led to the expansion of urban infrastructure and increased electricity consumption.

 

Asia Pacific Gas Insulated Ring Main Unit Market

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The regional transition towards renewable energy sources such as solar and wind power necessitates seamless integration with the existing power grid. For instance, as per REN21 Renewables 2022 Global Status Report, as of May 2022, India had around 160 GW of installed renewable energy capacity, which constitutes to 40% of the total installed electric capacity of the country, making the nation 4th largest player of solar and wind energy. Gas-insulated RMUs offer reliable connections and efficient power distribution which in turn will allow smooth integration of renewable sources in the power grid.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of gas insulated ring main unit in APAC was surpassed USD 849.8 million in 2023 and is projected to grow at over 6.3% CAGR from 2024 to 2032, driven by the rising demand for electricity due to robust population growth, industrial expansion, and technological progress.

The indoor installation segment generated more than USD 450 million in 2022 and is estimated to exceed USD 860 million by 2032, attributed to the ongoing R&D investments for creating compact and intelligent control equipment.

China gas insulated RMU market will witness robust growth at over 5% CAGR from 2023 to 2032 driven by the ever-increasing urbanization and industrialization in the region.

Some of the key gas insulated ring main unit firms in APAC include ABB, Siemens, LS ELECTRIC Co., Ltd., Schneider Electric, Ormazabal, ELECTRIC&ELECTRONIC CO., LTD., CG Power & Industrial Solutions Ltd., Orecco, Eaton, Lucy Group Ltd., and HD Hyundai Electric Co., Ltd.,

Asia Pacific Gas Insulated Ring Main Unit Market Scope

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  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 254
  • Countries covered: 5
  • Pages: 220
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