Asia Pacific Gas Insulated Ring Main Unit Market Size

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.

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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 4^th 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.