Ring Main Unit Market size is set to surpass USD 4.9 billion by 2030, according to a new research report by Global Market Insights Inc.
Growing interest in sustainable infrastructure and the need to meet regulatory compliances will favor large-scale adoption of ring main units (RMUs). New investments from public and private entities have fueled infrastructure development activities worldwide. RMU has become a popular component of underground cable distribution at the load junction points and connection points. These units are also used in solar power plants, wind power plants, compact secondary substations, and small industries, along with office spaces, residential complexes, hospitals, hotels, and airports.
Economic advancements, rapid commercialization and expansion in the transportation sector will encourage industry players to develop RMU technology. For instance, in 2021, the European Investment Bank earmarked more than USD 14.2 billion for enhancements in sustainable energy and natural resources across EU countries. Similar federal initiatives to provide financial support and unlock opportunities will foster lucrative business prospects for ring main unit manufacturers.
Growing need for operational safety to boost product adoption
The gas-insulated RMU market is estimated to attain 7% growth rate till 2030. Gas offers sound operational safety, system compactness, and effective di-electric strength. Ongoing advancement in smart control technologies is likely to drive the technology adoption. In May 2022, Schneider Electric added its RMU portfolio with the new GM AirSeT, a green and digital gas-insulated (GIS) technology solution for electrical networks in critical infrastructure and industrial buildings. The new product eliminates the dependence on harmful components like SF6 by combining vacuum technology and pure air with the latest gas-insulated switchgear.
Outdoor installation of RMUs to pick pace with rapid infrastructure development
The outdoor installation segment is poised to showcase significant gains during the forecast period owing to ongoing infrastructure expansion and new commercial projects such as restaurants, hotels, and others. Favorable characteristics, including ease of operations and equipment safety will enable widespread product installation across outdoor areas. New investments to accelerate commercial activities will further complement segment growth.
Browse key industry insights spread across 582 pages with 1093 market data tables & 27 figures & charts from the report, “Ring Main Unit Market Size By Insulation (Gas, Air, Oil, Solid-Di-Electric), By Position (3-Position, 6-Position, 10-Position), By Installation (Indoor, Outdoor), By Component (Switch & Fuses, Self-Powered Electronic Relay), By Application (Distribution Utilities, Industries, Infrastructure, Transportation), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Rising development across electrical infrastructures
The infrastructure application segment accounted for about USD 400 million revenue in 2021. There has been growing expenditure across emerging economies on residential and commercial sector development. Rising focus on enhancing rural and urban connectivity coupled with government-led initiatives will strengthen construction of sustainable electrical networks.
Rapid urbanization to augment ring main unit deployment across Europe
Europe ring main unit market is anticipated to register over 8% CAGR through 2030 due to ongoing investments in the renewable energy sector and increasing integration of advanced monitoring and control units. EU countries have experienced rapid urbanization along with steady industrial growth, offering strong business opportunities to companies providing RMU products.
Product development initiatives to bolster market trends
Major participants operating in the industry are ABB, Eaton, Ormazabal, Schneider Electric, CG Power & Industrial Solutions Ltd., Lucy Group Ltd., Toshiba Energy Systems & Solutions Corporation, LS ELECTRIC Co., Ltd., Hyundai Electric & Energy Systems Co., Ltd., Siemens Energy, ELECTRIC&ELECTRONIC CO., LTD., and Orecco. The competitive landscape has witnessed consistent development of technologically advanced products to attain unique positioning in the global market.