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North America Gas Insulated Smart Ring Main Unit Market Size
North America Gas Insulated Smart Ring Main Unit Market was valued at USD 345 million in 2022 and is set to register over 8.6% CAGR between 2023 and 2032. The increasing emphasis on the modernization and upgrade of aging electricity distribution infrastructure is propelling the demand for advanced RMUs that offer better operational efficiency and reliability. As per EIA, in 2022, renewable generation equalled over 646,028 thousand MWh in U.S., which is a substantial growth of over 800% from 2001. Moreover, the renewable generation across the nation has surpassed nuclear and coal generation in 2022, which creates a positive growth scenario for the smart technologies including RMUs.
There is a rising focus on environmental sustainability, which in turn is promoting the adoption of gas-insulated RMUs due to their lower environmental impact compared to traditional alternatives. The evolution of smart grid technologies, such as distribution automation and remote monitoring, further boosts the appeal of these RMUs, driving their market growth in North America. Additionally, the growing integration of renewable energy sources into the grid necessitates the use of smart RMUs to manage complex power flows and enhance grid resilience.
North America Gas Insulated Smart Ring Main Unit Market Report Attributes
| Report Attribute |
Details |
| Base Year: | 2022 |
|---|
| North America Gas Insulated Smart Ring Main Unit Market Size in 2022: | USD 347.4 Million |
|---|
| Forecast Period: | 2023 to 2032 |
|---|
| Forecast Period 2023 to 2032 CAGR: | 8.6% |
|---|
| 2032 Value Projection: | USD 801.6 Million |
|---|
| Historical Data for: | 2019 to 2022 |
|---|
| No. of Pages: | 305 |
|---|
| Tables, Charts & Figures: | 377 |
| Segments covered: | Position, Technology, Component, Application, and Country |
|---|
| Growth Drivers: | - Rising demand for the refurbishment of existing grid infrastructure
- Increasing infrastructural spending
|
|---|
| Pitfalls & Challenges: | - Substantial initial deployment cost
|
|---|
