Ring Main Unit Market Expecting An Outstanding Growth Till 2030
Gradual shift to renewable energy resources will be a key factor driving the RMU industry growth. Sustainable technologies and renewable systems have gained significant momentum over the last few years, owing to growing environmental concerns associated with the impacts of elevated carbon emissions. A dramatic increase in greenhouse gases across different regions has led to the introduction of stringent energy-efficiency policies and norms which will complement the equipment adoption.
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The need for improved power generation and backup solutions will encourage large-scale deployment of RMUs in the renewable energy sector. Latest investments into the development and expansion of existing grid infrastructure in emerging economies will also drive the market trends.
Stating another example, in August 2022, ABB unveiled a new state-of-the-art manufacturing facility in Nashik, India. The unit is designed with web-integrated traceability system processes and assets that support the transfer and exchange of real-time data for review and planning. The manufacturing plant will make a wide range of products for substations including gas-insulated switchgear, ring main unit, auto reclosers, and live tank vacuum-circuit breaker.
The demand for ring main unit across the transportation sector is anticipated to grow at a notable pace up to 2030, owing to an increase in spending on electric vehicle infrastructure. A rise in public & private investments in the development of electric vehicles and transportation utilities will boost equipment installation in the sector. The introduction of favorable regulatory mandates focusing on streamlining the power demand and supply systems will foster the industry outlook.
To browse this report titled, “Ring Main Unit Market by Growth Insight, Competitive Analysis and Regional Statistics to 2030”.
The competitive landscape of the global ring main unit market is inclusive of organizations such as Orecco, ABB, Siemens Energy, Eaton, Schneider Electric, Hyundai Electric & Energy Systems Co., Ltd., Lucy Group Ltd., LS Electric Co., Ltd., Tiepco, CG Power & Industrial Solutions Ltd, among many others. These companies are implementing key strategies for innovative product development. For instance, in June 2019, Eaton launched two lines of advanced ring main units in India, including HMH 12-36 kV and URING 36 kV SF6.
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