Ring Main Unit Market Analysis

Ring Main Unit Market Analysis

The air-insulated ring main unit market share was more than USD 160 million in 2021. Air insulation is gaining momentum across transmission and distribution networks with the growing need for advanced solutions. The unit is a metal enclosed switchgear mainly used in distribution automation. Its features offer a wide range of benefits including compact structure, dependable interlocking, flexible operation, and easy installation.

Speaking in terms of the position, the 3–position ring main unit market value will expand with fast-paced commercialization in emerging economies and a higher number of residential projects. Public spending for building grid connected and isolated micro-grid infrastructure will also surge, to provide security of power, which could further impact the installation of these RMUs. Large ongoing electrification projects indicate substantial potential for the deployment of 3-position units subject to lower peak load demand across rural areas.

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The indoor installations segment in the ring main unit market is estimated to attain nearly 7% growth rate till 2030, credited to extensive R&D along with ongoing investments into smart and compact control equipment. Besides applications in mining and construction, RMUs are also used in residential areas as a part of community-wide electrical power distribution systems.  Increasing indoor installation of these units enables customers to install and run an environmentally intensive, safe, and almost-maintenance-free distribution system. Development of smart control cabinets and automated solutions for secondary distribution will foster indoor installation of switchgears.

The ring main unit market share from distribution and utilities application is predicted to observe 6% gains between 2022 and 2030. Rapid expansion of utility-based establishments to address the surging consumption of electricity across both rural and urban areas will stimulate the product installation. According to the International Energy Agency (IEA), global electricity demand witnessed a spike of 6% during 2021 as compared to the previous year, owing to rapid economic recovery. The rising focus on the introduction of advanced power distribution systems and sustainability solutions will drive the product adoption.

The North America ring main unit market size is poised to register USD 900 million by 2030. The region is experiencing a substantial rise in demand for dependable grid and refurbishment of existing grid networks. Ongoing investments in the development of green infrastructure and growing electricity demand will influence RMU development. The U.S. and Canada are implementing aggressive clean energy initiatives and smart infrastructure projects to boost environmental clean-up.

For instance, in July 2021, the U.S. government sanctioned a USD 550 billion clean energy investment bill to ramp up the clean energy landscape in the country and modernize power generation. While in April 2022, the government of Canada and Saskatchewan announced investment plans to back 24 projects under the green infrastructure funding initiatives.