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North America Smart Ring Main Unit Market Size

Report ID: GMI7347
Published Date: Nov 2023
Report Format: PDF

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North America Smart Ring Main Unit Market Size

North America Smart Ring Main Unit Market was valued at USD 430 million in 2022 and is predicted to showcase about 8.5% CAGR between 2023 and 2032. The increasing need for efficient and reliable power distribution in smart grids and urban infrastructure is fueling demand for the technology. For instance, in 2022, the U.S. unveiled the “Grid Resilience Innovative Partnership” (GRIP) Program, offering a substantial funding opportunity of $10.5 billion. This in

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Regulatory support and initiatives promoting grid digitization, coupled with the need for fault detection and remote monitoring capabilities, are further propelling the market's expansion. As the North American power infrastructure evolves to meet the challenges of a rapidly changing energy landscape, the Smart RMU market is set to play a pivotal role in ensuring efficient and intelligent power distribution

North America Smart Ring Main Unit Market Report Attributes
Report Attribute	Details
Base Year:	2022
North America Smart Ring Main Unit Market Size in 2022:	USD 439.9 Million
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	9%
2032 Value Projection:	USD 1 Billion
Historical Data for:	2019 to 2022
No. of Pages:	385
Tables, Charts & Figures:	481
Segments covered:	Insulation, Position, Technology, Installation, Component, Application, and Country
Growth Drivers:	Rising demand for the refurbishment of existing grid infrastructure Increasing infrastructural spending
Pitfalls & Challenges:	Substantial initial deployment cost

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Authors: Ankit Gupta, Vishal Sain

Frequently Asked Questions (FAQ) :

The market size of North America smart ring main unit was reached USD 430 million in 2022 and is projected to grow at a CAGR of over 8.5% through 2032, backed by the increasing need for efficient and reliable power distribution in smart grids and urban infrastructure.

Gas-insulated smart RMUs technology segment held over 78% market share in 2022 and is predictable to grow at a robust CAGR of over 8.5% through 2032, as these advanced RMUs offer enhanced reliability, reduced maintenance costs, and improved fault detection capabilities.

The U.S. smart RMU market is anticipated to grow at a CAGR of over 8.5% through 2032, on account of the increasing adoption of smart grid technologies and the need for more efficient and reliable electricity distribution systems across the country for monitoring and controlling power distribution.

ABB, Eaton, Schneider Electric, CG Power and Industrial Solutions Ltd., Siemens, LS ELECTRIC Co., Ltd., HD HYUNDAI ELECTRIC CO., LTD., Toshiba Energy Systems & Solutions Corporation, alfanar Group, and CHINT Group among others.