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Air Insulated Ring Main Unit Market Trends

Report ID: GMI7256
Published Date: Nov 2023
Report Format: PDF

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Air Insulated Ring Main Unit Market Trends

In recent years, the air insulated ring main unit industry has experienced significant growth, primarily driven by the increasing demand for efficient distribution and transmission control systems. The industry has benefited from rising investments in the real estate sector and the growing need to refurbish existing electrical infrastructure, which has created a favorable business environment. Several essential factors contribute to the industry's potential, including the compact design of products, a focus on operational safety, and a cost-effective structure.

Furthermore, ongoing initiatives aimed at rural electrification, as well as the rapid expansion of micro-grid networks, are expected to further solidify the market position for medium voltage compact switchgears. These developments align with the industry's growth and are poised to enhance its role in the broader electrical distribution and transmission landscape.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The market size of air insulated ring main unit was reached USD 127.7 million in 2022 and is estimated to expand at 8.6% CAGR from 2023 to 2032, driven by the ongoing modernization and revamping of the existing grid infrastructure.

Motorized air insulated ring main unit market crossed USD 70 million in 2022 and is estimated to witness high demand through 2032, driven by their exceptional reliability across range of operating conditions.

North America held more than 22.4% of the air insulated ring main unit industry share in 2022 and is likely to expand at notable CAGR from 2023 to 2032, led by the increasing demand for refurbishing the existing grid network and the ongoing infrastructure investments.

ABB, G&W Electric, Lucy Group Ltd., Siemens, Schneider Electric, LS ELECTRIC Co., Ltd., Bonomi Eugenio SpA, alfanar Group, HD HYUNDAI ELECTRIC CO., LTD., Eaton, and Toshiba Energy Systems & Solutions Corporation, among others.