Ring Main Unit (RMU) Market Ongoing Trends, Opportunities & Forecast To 2027
Based on application, the ring main unit market is segmented into industrial, commercial, and distribution utilities. Of these, distribution utilities will lead the market over the forecast period.
By installation, the global ring main unit market is segmented into outdoor and indoor. Of these, the indoor segment will dominate the market over the forecast period.
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By type, the global ring main unit market is segmented into solid dielectric, air insulated, gas insulated, and oil insulated. Of these, the gas insulated segmented will spearhead the market over the forecast period.
The global ring main unit market size will touch USD 2.65 billion at an 8.4% CAGR between 2017- 2023, states the recent Market Research Future (MRFR) analysis. A ring main unit or RMU, simply put, is a metal-enclosed, factory assembled set of switchgear that is used in the ring-type distribution network’s load connection points. The RMU is generally characterized based on its type of insulation- gas, oil, or air. Resting on the need, the ring main unit market growth comes in various voltage ratings, which are ideal both for outdoor and indoor installation in various industrial, commercial, and distribution utilities.
Various factors are propelling the global RMU market share. As per the current MRFR report, such factors include the growing infrastructure spending, increasing investments in both rural electrifications & expanding microgrid network, and favorable government targets/initiatives for renewable energy integration. Additional factors adding market growth include increasing expenditure in power distribution networks, space constraints in areas that are densely populated, and rapid infrastructure growth.
On the contrary, increasing price of raw materials coupled with the shortage in labor & raw material supply due to the COVID-19 pandemic are factors that may limit the global ring main unit market growth over the forecast period.
Based on the region, the global ring main unit (RMU) market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, the APAC region will have the lions share in the market over the forecast period. Rapid expansions in industrialization, growing renewable sector, advancing economic scenario, growing microgrid network, and increasing investments towards renewable energy integration are adding to the global ring main unit market growth in the region.
The global RMU market in Europe is predicted to have healthy growth over the forecast period. Upgrades in existing infrastructure, increasing investments in the renewable sector & transmission and distribution infrastructure, rising electricity demand, technological advances, and increasing infrastructure spending in the commercial and transportation sector are adding to the global ring main unit market growth in the region. The UK has the utmost share in the market.
The global ring main unit market in North America is predicted to have admirable growth over the forecast period. The rise in the electrification rate and urbanization are adding to the global ring main unit market growth in the region.
The global ring main unit market in the RoW is predicted to have sound growth over the forecast period. The rapidly growing industrial sector is adding to the global ring main unit market growth in the region.
Key players profiled in the global ring main unit market report include Sdn. Bhd. (Malaysia), EPE Switchgear (M), SwitchGear Company (Belgium), Yokogawa Electric Corporation (Japan), L&T (India), Lucy Electric Limited (U.K.), General Electric Company (U.S.), Siemens AG (Germany), Eaton Corporation, PLC (Ireland), Schneider Electric SE (France), and ABB Ltd. (Switzerland), among others.
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