Home > Energy & Power > Electrical Equipment > Ring Main Unit > Europe Smart Ring Main Unit Market

Europe Smart Ring Main Unit Market Size

Report ID: GMI7046
Published Date: Oct 2023
Report Format: PDF

Download Free Sample

Europe Smart Ring Main Unit Market Size

Europe Smart Ring Main Unit Market was valued at USD 533.6 million in 2023 and is projected to grow at a CAGR of over 9.4% during 2024 and 2032. The region's growing emphasis on renewable energy sources, such as wind and solar, has led to the need for advanced distribution and grid management systems. As per Eurostat, renewable energy represented a share of around 21% of the total energy consumption in the European union in 2021. Smart RMUs play a pivotal role in ensuring grid reliability and efficient power distribution and further promotes reliable renewable energy integration, which in turn will drive its demand.

To get key market trends

Download Free Sample

The increasing urbanization and infrastructure development demand robust and automated distribution networks, making smart RMUs a preferred choice for their advanced monitoring and control capabilities. Moreover, stringent environmental regulations drive the adoption of eco-friendly RMUs that utilize alternatives to SF6 gas. Additionally, the digitalization of power distribution, facilitated by smart RMUs, enables real-time data analysis and predictive maintenance, enhancing grid resilience. These trends collectively fuel the growth of the Europe smart RMU market, as the region strives for sustainable and efficient energy management.

Europe Smart Ring Main Unit Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Smart Ring Main Unit Market Size in 2023:	USD 533.6 Million
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9.4%
2032 Value Projection:	USD 1.21 Billion
Historical Data for:	2019 to 2023
No. of Pages:	535
Tables, Charts & Figures:	722
Segments covered:	Insulation, Position, Technology, Installation, 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

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market valuation of smart ring main unit in Europe was worth USD 533.6 million in 2023 and is projected to observe over 9.4% CAGR from 2024 to 2032.

The gas insulated smart RMU segment held the major market share of over 75% in 2022 and will record over 9% CAGR from 2023 to 2032, due to their compact design, high dielectric strength, and dependable operational safety.

France smart RMU market is anticipated to record over 8% CAGR from 2023 to 2032, on account of a growing emphasis on grid modernization and the incorporation of advanced electrical distribution solutions to enhance grid reliability and efficiency.

ABB, Eaton, Schneider Electric, CG Power and Industrial Solutions Ltd., Siemens, Lucy Group Ltd., LS ELECTRIC Co., Ltd., HD HYUNDAI ELECTRIC CO., LTD., Toshiba Energy Systems & Solutions Corporation, alfanar Group, CHINT Group, and Bonomi Eugenio SpA.