Ring Main Unit Market Predicted To Grow at 8.4% CAGR by 2023 | Industry Performance and Forecast Report by MRFR
Market Research Future published a research report on “Global Ring Main Unit Market Research Report – Forecast to 2023”. Report give unique information which is collected by industry experts and Forecast prediction by experts with detailed analysis.
Pune, India – March 25, 2019 /MarketersMedia/ —
The global ring main unit market is projected to grow at a CAGR of 8.4% from 2017 to 2023, to reach the market size of USD 2.65 billion by 2023. Ring main unit (RMU) is used in a secondary distribution system. It is basically used for an uninterrupted power supply. It is used for medium voltage distribution in compact substations, small buildings, residential housing complex etc. Increase in demand of electricity across the globe, is the primary driving factor of ring main unit market. Additionally, rising demand for renewable energy is also fuelling the demand of ring main unit (RMU). However, the cost of ring main units being higher than conventional switchgears is the restraining factor that may hamper the growth of global ring main unit market.
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Competitive Dashboard
The key players of global ring main unit market are ABB Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), General Electric Company (U.S.), Lucy Electric Limited (U.K.), L&T (India), Yokogawa Electric Corporation (Japan), SwitchGear Company (Belgium) and EPE Switchgear (M) Sdn. Bhd. (Malaysia).
Segmental Analysis of Ring Main Unit Market
The global Ring Main Unit Market is segmented on the basis of type, installation, application, and region.
On the basis of type, the global ring main unit industry is classified into oil insulated, gas insulated, air insulated and solid dielectric.
On the basis of installation, the industry is segmented into indoor and outdoor.
By application, the global ring main unit market is classified into distribution utilities, industrial and commercial.
Geographically, the global ring main unit market has been segmented into four major regions, such as North America, Europe, Asia Pacific, and Rest of the World.
Ring Main Unit Reginal Market Analysis
Asia-Pacific dominates the global ring main unit market followed by Europe. Rapid expansions in industrialization as well as the growing renewable sector in this region, increase the demand of ring main unit market. This region is expected to grow at the fastest pace during the forecast period. Europe is another important market and is expected to contribute significantly during the forecast period mainly due to upgrading the existing infrastructure.
Target Audience
• Manufacturing Organizations
• Distributors & Suppliers
• Environmental Associations
• Government as well as Independent Regulatory Authorities
• Research Institute / Education Institute
• Potential Investors
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LIST OF TABLES
Table 1 Global Ring Main Unit Market, By Type
Table 2 Global Ring Main Unit Market, By Installation
Table 3 Global Ring Main Unit Market, By Application
Table 4 Global Ring Main Unit Market, By Regions
Table 5 North America Ring Main Unit Market, By Country
Table 6 North America Ring Main Unit Market, By Type
Table 7 North America Ring Main Unit Market, By Installation
Table 8 North America Ring Main Unit Market, By Application
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