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North America Smart Ring Main Unit Market Trends

Report ID: GMI7347
Published Date: Nov 2023
Report Format: PDF

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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.

Authors: Ankit Gupta, Vishal Sain

Frequently Asked Questions (FAQ) :

The market size of North America smart ring main unit was reached USD 430 million in 2022 and is projected to grow at a CAGR of over 8.5% through 2032, backed by the increasing need for efficient and reliable power distribution in smart grids and urban infrastructure.

Gas-insulated smart RMUs technology segment held over 78% market share in 2022 and is predictable to grow at a robust CAGR of over 8.5% through 2032, as these advanced RMUs offer enhanced reliability, reduced maintenance costs, and improved fault detection capabilities.

The U.S. smart RMU market is anticipated to grow at a CAGR of over 8.5% through 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 for monitoring and controlling power distribution.

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, and CHINT Group among others.