Ring Main Unit Market Report Examines Latest Trends and Key Drivers Supporting Growth through 2024

Ring Main Unit Market is set to surpass USD 3 Billion by 2024. Growing adoption of smart grid network along with increasing focus on energy efficiency across the globe will favor the ring main unit market size. Increasing environmental constraints and paradigm shift toward energy security will further embellish the business landscape. The Western European countries in 2017, announced an investment USD 133.7 billion toward upgradation and expansion of smart grid network.
Increasing investments toward residential and commercial infrastructure across the emerging economies along with upgradation and refurbishment of ageing infrastructure in developed economies will embellish the ring main unit market.
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Increasing demand for advanced monitoring and control distribution units will further propel the business outlook. The Government of Serbia along with the Government of China has proposed plans to modernize the traditional electrical infrastructure network across the nation.
Ring main unit market in China was valued over USD 300 million by 2024. National renewable energy targets along with increasing replacement of conventional fuels with sustainable energy technologies will embellish the industry outlook. In 2017, the National Energy Administration proposed an investment of USD 326 billion toward the expansion of clean energy network across the nation by 2020.
Gas insulation ring main unit market accounted for over 50% in 2016. Efficient di-electric strength and insulation coupled with expanding high-tension transmission and distribution network will stimulate the product penetration. Toshiba in 2017, proposed an investment of USD 30 million toward expansion of transformer and switchgear market across India.
Increasing investments from private and public financial institutions along with favorable government initiatives toward rural electrification across the Asia Pacific and Africa will complement the ring main unit market share. Increasing power demand along with rapid expansion of microgrid network will favor the business landscape. The World Bank in 2017, proposed an investment of USD 4 million towards the expansion of electrical network across the Pacific Island.
U.S. ring main unit market share will substantially grow owing to integration of distribution generation technologies along with the increasing investments toward refurbishment of ageing power infrastructure. Growing investments toward development of rail road infrastructure favored by peninsula corridor electrification program will stimulate the industry outlook. The Federal Transit Administration in 2017, declared an investment of USD 100 million toward the expansion of rail network in California.
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Ongoing expansion of micro grid network along with rapid industrialization will foster the ring main unit market in Germany. Increasing investments toward diversification of manufacturing units along with growing new establishments across the nation will further embellish the product demand. The regulators across Germany in 2017, announced a funding of USD 120 billion toward German suppliers and automakers.
The eminent players in the global ring main unit market includes LSIS, GE, TIEPCO, ABB, Schneider Electric, C&S Electric, Crompton Greeves, Ormazabal, Siemens, Lucy Electric, L&T and Entec Electric & Electronic.

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