Ring Main Unit Market Highlights
Ring Main Unit Market is projected to be worth USD 4011.81 Million, registering a CAGR of 9.3% during the forecast period (2022 - 2030).
The global ring main unit market is expected to grow significantly in the coming years, driven by the increasing demand for reliable power supply and the growing investments in renewable energy. A ring main unit is a type of switchgear used in power distribution systems to control and protect electrical equipment. It is used to distribute electricity within a network of cables, providing a high level of safety and reliability.
The demand for ring main units is increasing as the need for uninterrupted power supply grows. Ring main units are widely used in residential, commercial, and industrial applications, providing a reliable source of electricity to meet the growing demand for power.
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Market Research Analysis
On the basis of regions, the global ring main unit market is segmented as North America, Europe, Asia-Pacific and RoW. Asia-Pacific region dominates the ring main unit market. The demand of ring main unit market in Asia-Pacific region is driven by rapid growth in industrialization, urbanization, and construction & infrastructure activities as well as it is driven by the growing renewable sector in the region.
Europe and North America is also expected to contribute significantly to the global ring main unit market. Upgradation of existing power infrastructure network is driving the demand of ring main unit in these regions.
Scope of the Report
This study provides an overview of the global ring main unit market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific, and Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global ring main unit market as type, installation, and application.
By Type
- Oil Insulated,
- Gas Insulated
- Air Insulated
- Solid Dielectric
By Installation
- Indoor
- Outdoor
By Application
- Distribution Utilities
- Industrial
- Commercial
Key Players
The key players of global ring main unit market are ABB Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), General Electric Company (U.S.), Lucy Electric Limited (U.K.), L&T (India), Yokogawa Electric Corporation (Japan), SwitchGear Company (Belgium) and EPE Switchgear (M) Sdn. Bhd. (Malaysia).
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