Ring Main Unit Market Size - By Insulation (Gas, Air, Oil, Solid-Di-Electric), By Position (3-Position, 6-Position, 10-Position), By Installation (Indoor, Outdoor), By Component (Switch & Fuses, Self-Powered Electronic Relay), Application & Forecast, 2024 - 2032

Ring Main Unit Market Size

Ring Main Unit Market size valued at USD 3 billion in 2023 and is projected to grow at a CAGR of more than 7.9% from 2024 to 2032. Rising demand for the refurbishment of existing grid infrastructure and integration of renewables will spur the market expansion.
 

A rising need to refurbish existing infrastructure will propel the deployment of ring main units (RMUs) over the coming years. Owing to increased efforts to modernize current aging infrastructure, with the help of innovative, state-of-the-art technologies, the prevalence of public-private partnerships has grown. RMUs will gain traction as grid operators seek to replace and refurbish aging T&D components with enhanced operational capabilities, catering to the growing industrial demand for electricity.
 

Ring main switchgear technology is a crucial component within modernized grids, as it enables the management of peak loads, reduces operational costs, and offers energy security. A dramatic shift toward the integration of renewables will complement the ring main unit market development. The rising preference for green energy in recent years can be attributed to increasing concerns associated with carbon footprint, GHG emissions, and climate change.
 

Governments worldwide have implemented stringent carbon reduction targets and energy-efficiency policies that prompt the replacement of conventional units with renewable systems. RMUs will play a key role in the decarbonization efforts of industries, because of the advanced features that enable improved power quality and availability. Various parameters, including the burgeoning population, commercialization, and constantly surging electricity demand will favor the overall ring main unit market outlook.
 

High initial deployment cost is one of the major factors restraining the deployment of ring main units. The development of grid infrastructure with effective distribution capabilities heavily relies on expensive components. High investment associated with designing components with energy efficiency features will hinder the business expansion. For both technological development and integration, capital investment is crucial and lacking across various economies. Nevertheless, a positive outlook toward the advancement of prevailing grid substructures and the development of next-generation technologies will help the industry overcome existing challenges.
 

Ring Main Unit Market Analysis

The air-insulated ring main unit market share was more than USD 160 million in 2021. Air insulation is gaining momentum across transmission and distribution networks with the growing need for advanced solutions. The unit is a metal enclosed switchgear mainly used in distribution automation. Its features offer a wide range of benefits including compact structure, dependable interlocking, flexible operation, and easy installation.
 

Speaking in terms of the position, the 3–position ring main unit market value will expand with fast-paced commercialization in emerging economies and a higher number of residential projects. Public spending for building grid connected and isolated micro-grid infrastructure will also surge, to provide security of power, which could further impact the installation of these RMUs. Large ongoing electrification projects indicate substantial potential for the deployment of 3-position units subject to lower peak load demand across rural areas.
 

The indoor installations segment in the ring main unit market is estimated to attain nearly 7% growth rate till 2030, credited to extensive R&D along with ongoing investments into smart and compact control equipment. Besides applications in mining and construction, RMUs are also used in residential areas as a part of community-wide electrical power distribution systems.  Increasing indoor installation of these units enables customers to install and run an environmentally intensive, safe, and almost-maintenance-free distribution system. Development of smart control cabinets and automated solutions for secondary distribution will foster indoor installation of switchgears.
 

The ring main unit market share from distribution and utilities application is predicted to observe 6% gains between 2022 and 2030. Rapid expansion of utility-based establishments to address the surging consumption of electricity across both rural and urban areas will stimulate the product installation. According to the International Energy Agency (IEA), global electricity demand witnessed a spike of 6% during 2021 as compared to the previous year, owing to rapid economic recovery. The rising focus on the introduction of advanced power distribution systems and sustainability solutions will drive the product adoption.
 

The North America ring main unit market size is poised to register USD 900 million by 2030. The region is experiencing a substantial rise in demand for dependable grid and refurbishment of existing grid networks. Ongoing investments in the development of green infrastructure and growing electricity demand will influence RMU development. The U.S. and Canada are implementing aggressive clean energy initiatives and smart infrastructure projects to boost environmental clean-up.
 

For instance, in July 2021, the U.S. government sanctioned a USD 550 billion clean energy investment bill to ramp up the clean energy landscape in the country and modernize power generation. While in April 2022, the government of Canada and Saskatchewan announced investment plans to back 24 projects under the green infrastructure funding initiatives.
 

Ring Main Unit Market Share

Major companies operating in the ring main unit market are

• ABB, Eaton
• Schneider Electric
• CG Power & Industrial Solutions Ltd.
• Siemens Energy
• Lucy Group Ltd.
• LS ELECTRIC Co., Ltd.
• TIEPCO
• Hyundai Electric & Energy Systems Co., Ltd.
• Toshiba Energy Systems & Solutions Corporation
• alfanar Group
• CHINT Group
• ELECTRIC&ELECTRONIC CO., LTD.
• Ormazabal
• Orecco

These manufacturers are foraying into strategic collaborations and ramping up expansion efforts to support consistent developments of power-generating sources.
 

For example, In June 2022, Mitsubishi disclosed plans to build a new manufacturing unit for Factory Automation Control Systems in India and expand its production capacity in the country. The manufacturing facility will be backed by a USD 27 million worth of investment from Mitsubishi Electric India and will begin operation in December 2023.
 

Impact of COVID-19 Pandemic

The COVID-19 pandemic had a negative impact on the ring main unit market with a sudden halt in industrial activities. Large-scale electricity needs reduced dramatically due to the worldwide imposition of lockdowns and strict regulations, leading to the shutdown of commercial places. The pandemic also hampered construction activities and initiatives focusing on accelerating electricity access. The unprecedented crisis in addition to supply shortages and disruptions reduced the pace of electrification worldwide. However, with increasing efforts to meet the electricity needs of the rural population, the market will expand at a sustainable rate.
 

The ring main unit market research report includes in-depth coverage of the industry with estimates & forecast in terms of “’Units” & “USD Million” from 2018 to 2030, for the following segments:

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Market, By Insulation

• Gas
• Air
• Oil
• Solid di-electric
• Others

Market, By Position

• 3-position
• 6-position
• 10-position
• Others

Market, By Installation

• Indoor
• Outdoor

Market, By Component

• Switch & fuses
• Self-powered electronic relay

Market, By Application

• Distribution utilities
• Industries
• Infrastructure
• Transportation
• Others

The above information has been provided for the following regions and countries:

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • Italy
  • Spain
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Kuwait
  • South Africa
  • Qatar
• Latin America
  • Brazil
  • Chile
  • Peru
  • Argentina