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According to the new market research report “Ring Main Unit Market by Type (Gas, Air, Oil, and Solid Dielectric), Installation (Outdoor and Indoor), Application (Distribution Utilities, Industries, and Infrastructure & Transportation), and by Region – Global Forecast to 2022″, the ring main unit market is expected to grow at a CAGR of 8.35% in 2017to reach a market size of USD 2.45 billion by 2022. The ability of a ring main unit to provide uninterrupted power supply, operational safety, protection, reduced cable length, and the feature of being controlled remotely through Supervisory Control and Data Acquisition (SCADA), have increased its deployment. Modernization of power infrastructure and capacity additions have increased the usage of ring main units. These are the major drivers of the ring main unit market.
The ring main unit market is dominated by a few major players that have a wide regional presence and are established brand names. Leading players in the ring main unit industry include ABB, Ltd., (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), and General Electric Company (U.S.). These players have adopted contracts & agreements as a key strategy to enhance their presence in the ring main unit market.
Browse and in-depth TOC on “Ring Main Unit Market”
68 – Tables
91 – Figures
147 – Pages
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Asia-Pacific is estimated to be the fastest growing market for ring main units from 2017 to 2022. The region is likely to witness increased deployment of ring main units due to increasing electricity demand and power generation capacity additions in the region. Increasing renewable power generation investments in countries such as India and China are also expected to boost the ring main unit market in the region. Moreover, Southeast Asian countries are also expected to witness a significant growth during the same period. Companies such as Lucy Electric (U.K.), General Electric Company (U.S.), Larsen & Toubro (India), and LSIS (South Korea) are trying to penetrate the ring main unit market in Asia-Pacific through contracts & agreements.
Based on the type of ring main unit, the gas insulated segment is expected to be the fastest growing segment from 2017 to 2022. This growth can be attributed to its compact size and climatic resistance compared to other types of ring main units. Also the gas insulated ring main units provide easy accessibility of fuse & cables arrangement and high functional reliability.
The outdoor segment is expected to be the fastest growing market for ring main unit from 2017 to 2022 based on the installation segment. Distribution utilities are the major end-users of outdoor ring main units. The growth in the outdoor ring main unit segment is driven by increasing investments in the renewable sector, as many wind and solar projects require outdoor ring main unit as an integral part of their power distribution network. This is expected to create new revenue pockets in the ring main unit market during the forecast period.
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The report segments the ring main unit market based on application into distribution utilities, industries, and infrastructure & transportation. The distribution utilities segment was estimated to be the fastest growing market for ring main unit in 2016. The rising power generation capacity additions and modernization of existing power infrastructure is likely to drive the demand for ring main units in the distribution utilities application segment. This is expected to create new revenue pockets in the ring main unit market, during the forecast period.
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