Ring Main Unit Market 2018-2024: Major Industry Players are ABB, General Electric, EATON, Schneider Electric, Siemens AG, Crompton Greaves, Larsen & Turbo, Lucy Electric, C&S Electric ltd., Entec Electric
China ring main unit market is projected to value over USD 300 million by 2024. Favorable government norms pertaining to the replacement of conventional fuels with sustainable energy resources favored by national renewable integration targets will fuel the industry landscape. In 2017, National Energy Administration (NEA) declared an investment worth USD 326 billion apropos the expansion of renewable energy networks across China by 2020.
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1. Favorable government initiatives/targets toward renewable integration
2. Growing electricity demand
3. Rising investments across rural electrification
4. Expansion of micro-grid networks
5. Increasing infrastructural spending
Paradigm shift towards energy security along with rising environmental constraints will embellish the ring main unit market potential. Increasing focus on account of energy efficiency favored by briskly advancing smart grid networks will further foster the industry landscape. In 2017, Western European countries including France, Italy, Germany, Sweden and UK, have collaboratively announced an investment worth USD 133.7 billion towards the expansion of smart grid networks across the region.
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Gas insulation in 2016, accounted for over 50% of the ring main unit market share owing to rapid expansion of industrial High-Tension T&D networks. Effective insulation and di-electric strength favored by long term cost benefits in comparison to its competitive counterparts will further stimulate the product demand. In 2017, Toshiba announced an investment worth USD 30 million subject to the expansion of its switchgear and transformer manufacturing units across India.Favorable government policies pertaining to rural electrification across Africa and Asia Pacific supported by rising investments from public and private financial institutions will foster the ring main unit market share. The World Bank, International Finance Corporation (IFC) and Asian Development Bank (ADB) across the years have perpetually funded rural electrification drives across the regions. Growing electricity demand coupled with rapid expansion of micro-grid networks across the globe will further embellish the industry outlook. In 2017, the World Bank declared an investment worth USD 4 million subject to the expansion of electrical networks across the Pacific Island.
The U.S. ring main unit market will grow owing to rising investments toward the refurbishment of aging grid infrastructure coupled with integration of advance distribution control technologies. Expeditious development across the railroad infrastructure projects supported by the peninsula corridor electrification program will augment the industry size. In 2017, Federal Transit Administration of the U.S. proposed an investment worth USD 100 million subject to the expansion of rail networks across California under the San Carlos Peninsula Corridor Electrification Project.
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