Smart Ring Main Unit Market - Industry Size, Share, Growth & Forecast 2027 | UnivDatos

 

Smart Ring Main Unit is a fully enclosed, compact, factory assembled cabinet used for medium-voltage power distribution. This is an easily replaceable switchgear unit, requires low maintenance, and is highly protected in nature. To cover the wide breadth of user demands, RMUs can be found in various voltages, ideal for outdoor and indoor installations. In addition, smart ring main units (RMU) are tested to provide increased safety and reliability even in the harshest environments.

Factors such as increasing energy demands from the industries and rapid infrastructure growth in the energy sector are likely to drive the ring main unit market. Also, due to the increasing number of renewable energy installations that require a ring main unit at the substation level, the electricity distribution segment is expected to be the largest growing segment for the ring main unit market during the forecast period.

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The coronavirus pandemic was declared a public health emergency worldwide by World Health Organization (WHO). Government across nations implemented lockdown and ban on traveling, the shutdown of manufacturing industries, commercial activities this had severely disrupted the supply chain. Moreover, the COVID-19 outbreak hurt demand on the smart ring main unit market for some energy sectors owing to a substantial slump in the electricity consumption in the industrial and commercial sectors. The shutdown of activities across the various sector had negatively influenced the market outlook.

For instance: According to IEA, before the global pandemic, India’s energy demand was projected to increase by almost 50% between 2019 and 2030, but growth after a pandemic is closer to 35%, and 25% in the Delayed Recovery Scenario. However, India is an expanding economy, population, urbanization, and industrialization expected to increase the energy demand in the forecasted period which is expected to escalate the market size of smart ring main unit.

According to UnivDatos Market Insights (UMI)’ research report “Global Smart Ring Main Unit”, the market is valued at around USD 1.6 bn in 2020 and is expected to grow at a CAGR of around 6.6% during the forecast period (2021-2027). Smart RMU has various features, such as wireless thermal sensors, and smartphone connectivity, that allows the optimization of modern grid applications. The growth of the market can be attributed to the increasing amalgamation of automation with electronic devices and systems. A smart RMU helps to optimize the application for the modern grid, with features to improve power availability and quality, while helping to manage costs and boost efficiency.

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Rising concerns for energy security are also a contributing factor to the surge in the global ring main unit market. The shift in consumer preference towards renewable energy sources as an alternative to conventional energy resources is a major driver for the growth of the global ring main unit market.  Benefits associated with renewable energy such as reduction in electricity bills and incentives provided are the other positive factors influencing the market for renewable energy sources.

Based on type, the smart ring main unit market is segmented into gas insulated, oil insulated, air insulated, and solid dielectric. The gas insulated segment catered to significant demand in the smart ring main unit market. It is mainly due to the compact size, better functionality, and climatic resistance of these ring main units which are suitable for applications such as railway systems, wind power plants, power grids, underground installations, and mining applications.

Based on application, the smart ring main unit market is segmented into distribution utilities, industries, and infrastructure & transportation. The distribution utilities hold an extensive market share in the smart ring main unit market. Growing power requirements due to rising population and fast-track urbanization have resulted in the expansion of T&D networks across the globe.

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The Asia Pacific to witness robust growth

Based on region, the report provides detailed analysis for overall adoption of Smart ring main unit in the major region including North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), Rest of World. The Asia Pacific holds the extensive market share owing to the rapidly increasing energy demand and increasing urbanization along with commercial operations, the region is likely to witness growing market demand for the ring main unit.

• In April 2020, Larsen & Toubro was awarded a contract to strengthen the urban HT line distribution network in Chennai with the addition of ring main units and feeder remote terminal units on a total turnkey basis. Also, fully automated, unmanned 33 kV gas Insulated substations will be established at selected locations.
• In March 2019, Siemens launched SF6-free medium-voltage ring main unit. The gas contained in the ring main unit consists only of natural constituents of ambient air and insulates the current-carrying conductors inside the housing. The use of "Clean Air" makes it easy to handle throughout its entire lifecycle.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global Smart ring main unit market are AMETEK, Inc., ABB Ltd., Schneider Electric SE, Siemens AG, Toshiba Corporation, Larsen & Toubro Ltd., Cisco Systems, Inc., Eaton Corporation PLC, General Electric Company, Lucy Electric Ltd. Several M&A’s along with partnerships have been undertaken by these players to boost their presence in different regions.

“Global Smart ring main unit Market” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for the market players. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on different parameters. This will help companies in the formulation of go-to-market strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1. By Type (Gas Insulated, Oil Insulated, Air Insulated, and Solid Dielectric)
2. By Installation (Outdoor and Indoor)
3. By Application (Distribution Utilities, Industries, and Infrastructure & Transportation)
4. By Voltage Rating (Up to 15 kV, 16–25 kV, and Above 25 kV)
5. By Region (North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World)
6. By Company (AMETEK, Inc., ABB Ltd., Schneider Electric SE, Siemens AG, Toshiba Corporation, Larsen & Toubro Ltd., Cisco Systems, Inc., Eaton Corporation PLC, General Electric Company, Lucy Electric Ltd.)

Key questions answered in the study:

1. What are the current and future trends of the global Smart ring main unit industry?
2. How the industry has been evolving in terms of type, installation, application, and voltage rating?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the global Smart ring main unit industry?
5. What is the customer orientation, purchase behavior, and expectations from the global Smart ring main unit suppliers across various regions and countries?

Table of Content –

1 MARKET INTRODUCTION

2 RESEARCH METHODOLOGY OR ASSUMPTION

3 MARKET SYNOPSIS

4 EXECUTIVE SUMMARY

5 GLOBAL SMART RING MAIN UNIT MARKET COVID-19 IMPACT

6 GLOBAL SMART RING MAIN UNIT MARKET REVENUE 2019-2027F

7 MARKET INSIGHTS BY TYPE

8 MARKET INSIGHTS BY INSTALLATION

9 MARKET INSIGHTS BY APPLICATION

10 MARKET INSIGHTS BY VOLTAGE RATING

11 MARKET INSIGHTS BY REGION

12 SMART RING MAIN UNIT MARKET DYNAMICS

13 SMART RING MAIN UNIT MARKET OPPORTUNITIES

14 SMART RING MAIN UNIT MARKET TRENDS

15 LEGAL & REGULATORY FRAMEWORK

16 DEMAND AND SUPPLY SIDE ANALYSIS

17 VALUE CHAIN ANALYSIS

18 COMPETITIVE SCENARIO

19 COMPANY PROFILED

20 DISCLAIMER

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