Ring Main Unit Market to 2024 | ABB, General Electric, Eaton Corporation, Schneider Electric, Siemens, Crompton Greaves
Access Full Summary at: https://www.gminsights.com/industry-analysis/ring-main-unit-market
Base Year: 2017
Historical Data for: 2013 to 2017
Forecast Period: 2018 to 2024
Pages: 818 Tables,
Charts & Figures: 1526
Segments covered: Insulation, Position, Installation, Component, Rating, Application and Region
Oil insulated units on account of crude price volatility holds a sustainable share across the global ring main unit (RMU) market. The technology is projected to witness marginal growth subject to the need for extra equipment required for the maintenance & service of RMU systems which in turn lead to escalated operational expenditures. In addition, positive utility shift toward the installation of gas insulated units to ensure a reliable and safe operational environment have further subdued the business growth.
In 2017, indoor units held the majority of the ring main unit market share owing to rapid deployment and upgradation of ageing electric substations. Growing real estate sector subject to increasing public and private fund flow will boost the product demand. Moreover, rising space restrictions across utility aided electric installations coupled with focus towards operational safety and grid reliability will further augment the business scenario.
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The 17.5 kV to 24 kV ring main unit market, over the decade have gained momentum subject to the ongoing commercialization & economic escalation across the globe. Rising manufactured goods demand along with versatile product configurations across the primary & secondary distribution networks will escalate the industry growth. Operational safety and energy efficiency compliance are projected to substantially influence the business potential. Ongoing research towards the enhancement of sustainable units coupled with strict manufacturing norms will further stimulate the product demand.
Industrial application is set to witness growth on account of the development of manufacturing plants by major market participants including Siemens, Schneider and ABB across developing nations. Volume manufacturing along with growing demand for cost efficient product advancement will further augment the global ring main unit market.
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Ring main unit (RMU) market across Asia Pacific region is predicted to grow at a rate of over 7.3% by 2024. Evolving economic scenario subject to ongoing investments and upgradation across the utility based & industrial electrification systems will energize the business growth. The Rural Electrification Corporation (REC) of India, in 2017 generated amount worth USD 450 million by the introduction of its bonds on London Stock Exchange (LSE).
Eminent ring main unit (RMU) market participants include: Eaton, Schneider, Siemens, ABB, GE, CG, Lucy Electric, L&T, C&S Electric, LSIS, Entec Electric, TIEPCO and Ormazabal.
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