North America Smart Ring Main Unit Market Size - By Insulation (Gas, Air, Oil, Solid-Di-Electric), By Component (Switch & Fuses, Self-Powered Electronic Relay, Automation RTUs, UPS, Short Circuit Indicators, VDIS), Technology, Application & Forecast, 2023 - 2032

North America Smart Ring Main Unit Market Size

North America Smart Ring Main Unit Market was valued at USD 430 million in 2022 and is predicted to showcase about 8.5% CAGR between 2023 and 2032. The increasing need for efficient and reliable power distribution in smart grids and urban infrastructure is fueling demand for the technology. For instance, in 2022, the U.S. unveiled the “Grid Resilience Innovative Partnership” (GRIP) Program, offering a substantial funding opportunity of $10.5 billion. This initiative aims to bolster and expand the country's electric grids, enhancing their resilience and capacity.

Regulatory support and initiatives promoting grid digitization, coupled with the need for fault detection and remote monitoring capabilities, are further propelling the market's expansion. As the North American power infrastructure evolves to meet the challenges of a rapidly changing energy landscape, the Smart RMU market is set to play a pivotal role in ensuring efficient and intelligent power distribution
 

COVID-19 Impact

The COVID-19 pandemic initially posed supply chain challenges and delayed projects in the North America smart ring main unit market. However, it also underscored the importance of resilient power distribution systems, subsequently driving investments in grid modernization and smart RMUs. As businesses and utilities adapted to the pandemic's disruptions, the demand for smart RMUs for remote monitoring and control surged. This shift toward smart grid technologies to enhance reliability and adaptability contributed to the market's resilience and growth.
 

North America Smart Ring Main Unit Market Trends

The North America smart ring main unit industry is witnessing several notable trends. The increasing emphasis on grid modernization and the integration of renewable energy sources is driving the adoption of smart RMUs. These units enable efficient management of distributed energy resources, offering grid operators better control and visibility. Secondly, the development of advanced communication and IoT technologies has made remote monitoring and control of RMUs more accessible. This trend aligns with the growing demand for real-time data and analytics, allowing utilities to make informed decisions for grid management.
 

North America Smart Ring Main Unit Market Analysis

the gas-insulated smart RMUs technology dominated the market with a substantial share of over 78% in 2022 and is predictable to grow at a robust CAGR of over 8.5% through 2032. These advanced RMUs offer numerous benefits, including enhanced reliability, reduced maintenance costs, and improved fault detection capabilities. As utilities and industries in the region prioritize efficiency and grid management, gas-insulated smart RMUs have become a crucial component of modern electrical distribution networks. The integration of smart technology further facilitates real-time monitoring and data analytics, enabling more efficient load management and fault isolation.
 

The North American smart RMU market is experiencing significant growth in the 2-3-4 position RMUs, with a market value exceeding USD 210 million in 2022 and is projected to witness 8% CAGR till 2032. The development of grid-connected and isolated micro-grid networks, aimed at ensuring a secure electricity supply, is expected to positively influence the market's growth trajectory. In addition to these factors, ongoing electrification initiatives and a moderate peak load demand in rural areas are creating significant potential for the adoption of 2nd, 3rd, and 4th position RMUs in the North American market.
 

The motorized RMUs segment exceeding USD 250 million in 2022 and is poised to reach USD 630 million by 2032. These technologically advanced RMUs with motorized machineries, offer superior control and operational efficiency. They are attaining traction due to their capacity to provide precise and remote switching capabilities, thereby streamlining power distribution and ensuring the reliability of the grid. As North America continues to prioritize smart and sustainable energy solutions, the adoption of motorized smart RMUs plays a substantial role in driving the market's growth and expansion.
 

The North America smart ring main unit market is currently witnessing significant growth, and this growth is particularly prominent in the indoor installation segment. Indoor RMUs offer several advantages, including enhanced safety, reduced environmental impact, and efficient space utilization. These qualities make them well-suited for North America's urban settings, where space is limited, making them an excellent choice for densely populated areas.
 

The North America smart RMU market is witnessing significant growth, mainly credited to distribution utilities. As these utilities strive to enhance the reliability and efficiency of their electrical distribution networks, smart RMUs have emerged as a vital technology. Smart RMUs offer advanced monitoring and control capabilities, enabling utilities to remotely manage their distribution grids, detect faults, and optimize power flow. Furthermore, they contribute to grid resilience by reducing outage durations and improving fault localization. With the increasing focus on grid modernization and the integration of renewable energy sources, distribution utilities in North America are adopting smart RMUs as a key component of their infrastructure, thereby propelling the market's growth in the region. This trend is expected to continue as utilities continue to invest in smart grid technologies and grid reliability enhancements.
 

The U.S. smart ring main unit market is anticipated to showcase 8.5% growth rate from 2023 to 2032 on account of the increasing adoption of smart grid technologies and the need for more efficient and reliable electricity distribution systems across the country, which in turn are promoting the deployment of advanced ring main units that can help monitor and control power distribution. Additionally, the growing demand for renewable energy sources, such as solar and wind power, is driving the need for smarter grid infrastructure to integrate these intermittent energy sources seamlessly. Moreover, the rise in urbanization and the development of smart cities are encouraging investments in modernizing power distribution networks, making smart ring main units a crucial component for managing electricity effectively. Furthermore, the advancements in IoT and connectivity technologies are enhancing the remote monitoring and management capabilities of these units, further fueling their growth in the market.
 

North America Smart Ring Main Unit Market Share

In the North American smart ring main unit industry, ABB stands out as the biggest player and holds a substantial market share for several compelling reasons. ABB's long-standing reputation for providing innovative and high-quality electrical solutions has earned the trust of utilities and industries across the region. Their comprehensive range of smart ring main units incorporates cutting-edge technologies that enhance grid efficiency, reliability, and grid management. ABB's extensive network of distribution and service centers, coupled with a strong commitment to customer support, enables them to cater to the unique needs of the North American market effectively. Their continued focus on research and development ensures that ABB remains at the forefront of smart grid solutions, solidifying its dominant position and market share in the region.
 

Some of the key market players operating across the North America smart ring main unit industry are:

• ABB
• Eaton
• Schneider Electric
• CG Power and Industrial Solutions Ltd.
• Siemens
• LS ELECTRIC Co., Ltd.
• HD HYUNDAI ELECTRIC CO., LTD.
• Toshiba Energy Systems & Solutions Corporation
• alfanar Group
• CHINT Group
• NOJA Power Switchgear Pty Ltd

North America Smart Ring Main Unit Market News

• In April 2023, ABB unveiled its ambitious expansion strategy for the United States, entailing a significant investment of around USD 170 million. This commitment has kicked off with the construction of a state-of-the-art service facility located in New Berlin, Wisconsin. ABB's goal with these initiatives is to solidify its presence in the U.S. market and play a pivotal role in the growth of the electrification and automation sectors. This substantial financial injection is earmarked for bolstering ABB's manufacturing, innovation, and distribution capabilities, ultimately resulting in the generation of numerous highly-skilled employment opportunities.
   
• In December 2022, Eaton unveiled the HMH series, a medium-voltage switchgear designed with a focus on compact transformer substations, industrial facilities, and secondary distribution systems. It is adaptable for installation both indoors and outdoors, with the units being pre-assembled and rigorously tested for type-approval in the factory. Notably, this switchgear has the capability to manage secondary distribution systems with a capacity of up to 36 kV. The series provides a practical and effective solution for a wide range of applications, ensuring swift and secure deployment in various indoor environments, including industrial facilities and more.
   

This North America smart ring main unit market research report includes an in-depth coverage of the industry with estimates & forecast in terms of units and revenue in ‘000 Units and USD Million from 2019 to 2032, for the following segments:

Click here to Buy Section of this Report

By Insulation

• Gas Insulated
• Air Insulated
• Oil Insulated
• Solid Di-Electric
• Others

By Position

• 2-3-4 Position
• 5-6 Position
• 7-10 Position
• Others

By Installation

• Indoor
• Outdoor

By Component

• Switch & Fuses
• Self-Powered Electronic Relay
  • Communicable
    • Conventional CT/VT Sensors
    • Low Power CT/VT Sensors
  • Non-Communicable
• Automations RTU’s
• UPS
• Fault Passage Indictors/ Short Circuit Indicators
  • Communicable
    • Conventional CT/VT Sensors
    • Conventional CT/VT Sensors
  • Non-Communicable
• VDIS

By Technology

• Motorized RMU
• Non – Motorized RMU

By Application

• Distribution Utilities
  • Motorized RMU
  • Non – Motorized RMU
• Industries
• Infrastructure
  • Motorized RMU
  • Non – Motorized RMU
• Transportation
• Others

The above information has been provided for the following countries:

• U.S.
• Canada
• Mexico