Ring Main Unit Global Market Report 2024

The global ring main unit market has grown strongly in recent years. It will grow from $2.27 billion in 2023 to $2.44 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. During the historic period, growth can be attributed to several factors including rapid urbanization and infrastructure development, the implementation of efficient power distribution systems, initiatives aimed at grid modernization, integration of renewable energy sources into the power grid, and the expansion of industrial activities.

The global ring main unit market is expected to see strong growth in the next few years. It will grow to $3.26 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. Anticipated growth in the forecast period is expected to be driven by various factors, including increased electrification initiatives, heightened focus on cybersecurity measures, the establishment of resilient power infrastructure, the integration of digitalization and automation, and the utilization of distributed energy resources. Major trends projected for the forecast period encompass increased adoption within industrial sectors, supportive regulatory measures and incentives, the implementation of remote monitoring and management systems, as well as a strong emphasis on customization and innovation within the industry.

The growth of the ring main unit market is expected to be driven by the increasing demand for electricity. Electricity, a form of energy that powers machinery and equipment emitting light or heat, is witnessing a surge in demand. The use of ring main units is essential for various applications, such as connecting different types of switches and feeding distribution transformers. According to the International Energy Agency in 2021, electricity demand is projected to increase by 4.5%, supported by rebounding economic activity and growth in major emerging economies like China. This escalating demand for electricity is a key factor propelling the growth of the ring main unit market.

Another significant factor contributing to the growth of the ring main unit market is the rising investment in improving transmission infrastructure. Transmission infrastructure, which conveys electricity at voltages exceeding 50 kilovolts, involves structures, tools, and other items used for transmission purposes. Investments in transmission infrastructure improvement aim to enhance the distribution network and increase capacity to meet the growing demand for electricity. In October 2023, the United States Department of Energy (DOE) announced a commitment of up to $1.3 billion for three transmission lines spanning six states as part of the President's Investing in America agenda. This substantial investment is expected to advance projects that will add 3.5 gigawatts (GW) of additional grid capacity across the United States, further driving the growth of the ring main unit market.

Technological advancements represent a key trend gaining traction in the ring main unit market. Major companies in the market are concentrating on developing new technological solutions to enhance their market position. For example, in April 2021, Siemens AG, a Germany-based company specializing in ring main units, introduced the 8DJH 24 switchgear - an entirely fluorinated gas-free ring main unit (RMU) designed for line voltages up to 24 kilovolts (kV) using vacuum technology. This technological advancement by Siemens eliminates both the SF6 insulating medium and fluorine-based gas mixture (F-gases), reducing the carbon footprint for grid operators. The switchgear is designed to be handled safely and easily, and it is readily recyclable. This focus on technological innovation demonstrates the commitment of major companies to sustainability and efficiency in the ring main unit market.

Major players in the ring main unit market are taking significant steps towards reducing greenhouse gas emissions by integrating advanced ring main units (RMUs). Greenhouse gases (GHGs) contribute to the trapping of heat in the Earth's atmosphere, leading to an increase in the planet's average temperature. In May 2022, Enel S.p.A., an Italian-based green energy company engaged in the generation, distribution, and sale of electricity and gas, installed SF6-free SafePlus AirPlus Ring Main Units. These units were developed by ABB Ltd., a Switzerland-based automation and technology company, as a low-pressure 24kV solution aimed at enhancing safety, ensuring reliability, and reducing greenhouse gas emissions. Enel Global Infrastructure & Networks deployed ABB's advanced SF6-free RMUs, specifically tailored to meet Enel's specifications. This implementation contributes to lowering greenhouse gas emissions while providing dependable and sustainable power across Enel's networks in Italy and Spain.

In a notable move, Siemens AG, a prominent German-based automation company, acquired C&S Electric (India) in March 2021 for an amount of 254 million USD. Siemens strategically made this acquisition to address the growing demand for low-voltage power distribution in India. C&S Electric (India) operates in the ring main unit sector and is now part of Siemens, contributing to Siemens' efforts in meeting the evolving needs of the Indian market for efficient and sustainable power distribution.

Major companies operating in the ring main unit market report are ABB Ltd., Schneider Electric SE, Eaton Corporation PLC, Larsen & Toubro Ltd., Siemens AG, LS Electric Co. Ltd., Entec Electric & Electronic Co. Ltd., EPE Switchgear (M) Sdn. Bhd, Lucy Electric Ltd., Ormazabal Corporación Empresarial S.L., Crompton Greaves Consumer Electricals Limited, Orecco Electric d.o.o, Alfanar Group Ltd., LSIS Co.Ltd., Toshiba Corp., CG Power & Industrial Solutions Ltd., SGC - SwitchGear Company NV, NOJA Power Switchgear Pty Ltd., G&W Electric Company, C&S Electric Limited, E+I Engineering Ltd., Hawker Siddeley Switchgear Ltd., Kappa Engineering (Pty) Ltd., KONČAR - Electrical Industry Inc., Laxmi Electronics Pvt. Ltd., MGC Moser-Glaser AG, Mors Smitt B.V, Nissin Electric Co. Ltd., RPS Switchgear Limited, S&S Power Switchgear Limited, Slaters Electricals Ltd., Switchgear Power Systems LLC, Tavrida Electric AG, TE Connectivity Ltd., TGOOD Global Ltd., Trayer Engineering Corporation, VEO Oy, Wahah Electric Supply Company of Saudi Arabia Co., Xiamen Huadian Switchgear Co. Ltd.

Asia-Pacific was the largest region in the ring main unit market share in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the ring main unit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the ring main unit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary types of ring main units include gas-insulated, oil-insulated, air-insulated, solid di-electric, and other variants. Gas-insulated units consist of components where active parts carrying high voltage potential are situated within aluminum alloy pipes, held in place by epoxy resin insulators. Component types typically encompass self-powered electronic relays, switchgear, and fuses. These units operate at various voltage levels including low, medium, and high voltages and are designed for both indoor and outdoor installations. They find extensive use in industrial, commercial, and residential distribution applications.

This report provides ring main unit market statistics, including ring main unit industry global market size, regional shares, competitors with a ring main unit market share, detailed ring main unit market segments, market trends and opportunities, and any further data you may need to thrive in the ring main unit industry. This ring main unit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The ring main unit market consists of sales of load break switches, circuit breakers, numerical relays, and cable testing compartments. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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