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Europe Gas Insulated Smart Ring Main Unit Market Size

Report ID: GMI7111
Published Date: Oct 2023
Report Format: PDF

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Europe Gas Insulated Smart Ring Main Unit Market Size

Europe Gas Insulated Smart Ring Main Unit Market was value at USD 413.9 million in 2023 and is anticipated to grow at a CAGR of over 9.1% between 2024 and 2032. The increasing demand for efficient and reliable distribution of electricity in urban areas is fueling the adoption of smart RMUs, which offer advanced monitoring, control, and automation capabilities. According to Eurostat, in 2021, renewable energy accounted for approximately 21% of the total energy consumption in the European Union. Moreover, between 2004 and 2021, the share of renewable energy more than doubled, thanks to the region's ambitious goals to reduce its reliance on traditional fuels.

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The increasing trend of urbanization and infrastructure development necessitates robust and automated distribution networks, making smart RMUs the preferred choice due to their advanced monitoring and control capabilities. Furthermore, the digitization of power distribution, made possible by smart RMUs, allows for real-time data analysis and predictive maintenance, ultimately enhancing the resilience of the grid. These combined trends are contributing to the growth of the smart RMU market in Europe, as the region strives for sustainable and efficient energy management.

Europe Gas Insulated Smart Ring Main Unit Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Gas Insulated Smart Ring Main Unit Market Size in 2023:	USD 413.9 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9.1%
2032 Value Projection:	USD 914.9 Million
Historical Data for:	2019 to 2023
No. of Pages:	425
Tables, Charts & Figures:	557
Segments covered:	Position, Technology, Component, Application, and Country
Growth Drivers:	Rapid deployment of renewable energy source Expansion and development of prevailing energy grid networks
Pitfalls & Challenges:	Substantial initial deployment cost

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of gas insulated ring main unit in Europe was worth 413.9 million in 2023 and is anticipated to reach over USD 914.9 million by 2032.

Motorized RMUs segment was valued at USD 250 million in 2022 and is projected to surpass USD 640 million by 2032 owing to their capacity to enhance operational efficiency and control.

France gas insulated smart RMU market is projected to record more than 7.5% CAGR from 2023 to 2032, owing to the country’s dedication to reducing greenhouse gas emissions and transitioning to renewable energy sources.

ABB, Eaton, Schneider Electric, CG Power & Industrial Solutions Ltd., Siemens, Lucy Group Ltd., LS ELECTRIC Co., Ltd., HD HYUNDAI ELECTRIC CO., LTD., Toshiba Energy Systems & Solutions Corporation, alfanar Group, Orecco, Ormazabal, G&W Electric, and Alstom.