RING MAIN UNIT MARKET HAS INCREASED ITS REVENUE BY USD 2.65 Billion By 2023.
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Market Scenario:
Ring main unit (RMU) is used in a secondary distribution system. It is basically used for an uninterrupted power supply. It is used for medium voltage distribution in compact substations, small buildings, residential housing complex etc. Increase in demand of electricity across the globe, is the primary driving factor of ring main unit market. Additionally, rising demand for renewable energy is also fueling the demand of ring main unit (RMU). However, the cost of ring main units being higher than conventional switchgears is the restraining factor that may hamper the growth of global ring main unit market.
Study Objectives of Global Ring Main Unit Market
•To provide detailed analysis of the market structure along with forecast for the next five years of various segments and sub-segments of the global ring main unit market
•To provide insights about factors affecting the market growth
•To analyze the global ring main unit market based on various tools such as Price Analysis, Supply Chain Analysis, Porter’s Five Forces Analysis
•To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, APAC, and Rest of the World (ROW)
•To provide country level analysis of the market with respect to the current market size and future prospective
•To provide country level analysis of the market segmented, by types, by installation, by applications, and by regions
•To provide strategic profiling of the key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
•To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the ring main unit market
Key Players
The key players of global ring main unit market are ABB Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), General Electric Company (U.S.), Lucy Electric Limited (U.K.), L&T (India), Yokogawa Electric Corporation (Japan), SwitchGear Company (Belgium) and EPE Switchgear (M) Sdn. Bhd. (Malaysia).
Regional Analysis of Global Ring Main Unit Market:
Asia-Pacific dominates the global ring main unit market followed by Europe. Rapid expansions in industrialization as well as the growing renewable sector in this region, increase the demand of ring main unit market. This region is expected to grow at the fastest pace during the forecast period. Europe is another important market and is expected to contribute significantly during the forecast period mainly due to upgrading the existing infrastructure.