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Smart Ring Main Unit Market Trends

  • Report ID: GMI6540
  • Published Date: Aug 2023
  • Report Format: PDF

Smart Ring Main Unit Market Trends

Smart ring main units are gaining a substantial adoption across the globe owing to its numerous features. These units are becoming increasingly integrated with broader smart grid initiatives. This integration aimed to enhance overall grid efficiency, reliability, and real-time monitoring capabilities. The ability to remotely monitor and control RMUs is a growing trend across the world. Utilities and operators were seeking solutions that allowed them to manage their networks and respond to issues without the need for on-site visits.
 

Advances in sensor technology were driving the inclusion of more sophisticated sensors in smart RMUs. These sensors provided real-time data on parameters such as voltage, current, temperature, and fault conditions, enabling quicker fault detection and diagnostics. In addition, the increasing integration of renewable energy sources into power grids was influencing RMU design. Smart RMUs needed to accommodate bidirectional energy flow and manage fluctuations caused by sources like solar and wind, which is complementing its deployment across all major countries.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of smart ring main unit recorded USD 2 billion in 2023 and is set to reach USD 4.2 billion by 2032, due to increasing need for efficient distribution and control systems for transmission worldwide.

The gas insulation segment held over 74% of the market share in 2022, on account of its compact system design, strong dielectric strength, and reliable operational safety.

North America market size is expected to witness 8.2% CAGR from 2023 to 2032, owing to the escalating need for consistent and uninterrupted electricity supply coupled with the concerted efforts towards electrification in the region.

ABB, Eaton, Schneider Electric, CG Power & Industrial Solutions Ltd., Siemens, Lucy Group Ltd., LS ELECTRIC Co. Ltd., TIEPCO, HD HYUNDAI ELECTRIC CO., LTD., and Toshiba Energy Systems & Solutions Corporation are some of the major smart ring main unit companies worldwide.

Smart Ring Main Unit Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 2089
  • Countries covered: 23
  • Pages: 971
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