Press release
Steady Expansion Forecast for Ring Main Unit Market, Projected to Reach $3.42 Billion by 2029
Ring Main Unit
Ring Main Unit Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent years, there has been substantial growth in the ring main unit market size. The market is projected to escalate from a valuation of $2.4 billion in 2024 to $2.56 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.8%. The impressive growth witnessed in the historic period can be linked to factors such as urbanization and infrastructure development, effective power distribution, modernization of the grid, integration of renewable energy, and the expansion of the industry.
Ring Main Unit Market Size Forecast: What's the Projected Valuation by 2029?
The market size for ring main unit is projected to witness substantial expansion in the coming years, reaching a valuation of $3.43 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.6%. The surge during the forecasted timeframe can be credited to measures like electrification campaigns, cybersecurity precautions, robust power infrastructure, digitalization and automation, as well as distributed energy resources. Key tendencies during this forecast period encompasses implementation in industrial sectors, regulatory backing and incentives, remote monitoring and management, as well as customization and innovation.
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What Are the Drivers Transforming the Ring Main Unit Market?
The ring main unit market is predicted to see significant growth due to the rising demand for electricity. Electricity, which drives machinery and provides light and heat energy, necessitates a ring main unit to facilitate various applications such as linking different types of switches, powering a distribution transformer, and more. As per the International Energy Agency (IEA) based in France, in September 2024, net electricity production surged to 902.8 TWh reflecting a 5.4% increase compared to the same period in the previous year. Hence, the escalating demand for electricity is fueling the expansion of the ring main unit market.
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What Long-Term Trends Will Define the Future of the Ring Main Unit Market?
Key players in the ring main unit market are prioritizing the development of non-SF6 ring main units in an attempt to lessen their environmental footprint, adhere to more stringent greenhouse gas emission laws, and foster sustainable power distribution methods. Non-SF6 ring main units (RMUs) are essentially medium-voltage power distribution switchgear systems that do not depend on sulfur hexafluoride (SF6) gas for insulation or to quench arcs. For example, Lucy Electric Ltd, a firm based in the United Kingdom, introduced a non-SF6 ring main unit called EcoTech in April 2024. EcoTec substitutes SF6 with synthetic air, a blend of nitrogen and oxygen, addressing environmental worries related to greenhouse gas emissions. Moreover, EcoTec comes with advanced features like an integrated control unit and standard remote control capabilities, improving operational efficiency and facilitating superior monitoring and management of energy distribution systems.
Which Segments in the Ring Main Unit Market Offer the Most Profit Potential?
The ring main unit market covered in this report is segmented -
1) By Type: Gas-Insulated, Oil-Insulated, Air-Insulated, Solid Di-Electric, Other Types
2) By Component Types: Self-Powered Electronic Relays, Switchgear, Fuses
3) By Voltage: Low Voltage, Medium Voltage, High Voltage
4) By Installation: Indoor, Outdoor
5) By Application: Distribution Utility, Industrial, Commercial And Residential
Subsegments:
1) By Gas-Insulated: SF6 Insulated RMUs, Mixed Gas Insulated RMUs
2) By Oil-Insulated: Mineral Oil Insulated RMUs, Synthetic Oil Insulated RMUs
3) By Air-Insulated: Outdoor Air-Insulated RMUs, Indoor Air-Insulated RMUs
4) By Solid Di-Electric: Resin-Insulated RMUs, Other Solid Dielectric Solutions
5) By Other Types: Hybrid RMUs, Modular RMUs
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Which Firms Dominate the Ring Main Unit Market by Market Share and Revenue in 2025?
Major companies operating in the ring main unit market 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., KONCAR - 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.
Which Regions Offer the Highest Growth Potential in the Ring Main Unit Market?
Asia-Pacific was the largest region in the ring main unit market share in 2024 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.
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