Ring Main Unit Market Research Report, Regional Outlook & Forecast, 2017-2024

Press Release   •   Aug 01, 2017 02:37 EDT

Global Ring Main Unit (Rmu) Market size is anticipated to witness a high growth owing to increasing electricity consumption and restructuring of existing infrastructure. In 2016, China witnessed 5% increase in total electricity consumption reaching a value of 5920 terawatt-hours (TWh) as per the National Energy Administration (NEA).

Asia-Pacific is predicted to witness the highest growth during the forecast timeframe owing to increasing demand for electricity and power generation. China and India are leading the ring main unit market in the region owing to increasing demand for rural electrification, power capacity additions and implementation of smart grids. Southeast Asian countries led by Japan, are strategizing to expand their power infrastructure at a rapid scale to establish an active distributary network. Additionally, countries including Vietnam, Malaysia, Indonesia hold high growth potential in the ring main unit market.

The Government of India has sanctioned a plan to supply uninterrupted electricity for each state and emphasizing on energy efficiency and green power under its Power for All (PFA) venture. Power generation witnessed a growth rate of 6.5 percent in 2016 against the corresponding previous year. The power capacity addition in the country will stimulate the ring main unit market.

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Europe is anticipated to be a significant ring main unit market pertaining to the growing focus towards the renewable sector. The EU’s Renewable Energy Directive enacted a legislation for the advancement and production of energy from renewable sources. The directive requires the EU Member States to achieve a minimum of 20% of their total energy demand with renewables by 2020 through the attaining individual national targets. All EU nations are required to ensure that a minimum of 10 percent of the transportation fuels are produced from renewable sources by 2020. In November 2016, the Commission proposed a revised Renewable Energy Directive which requires the European Union to ensure at least 27% renewables in the final energy consumption by 2030.

Increasing investments in the renewable power generation in Asia-Pacific have been initiated to meet the rising power demand. National Solar Mission, an initiative by the Government of India, aims to enhance the solar power generation capacity to 48 GW by 2019. The investments are anticipated to augment the ring main unit market over the forecast period.

Shifting trend towards the conversion of overhead electric lines to underground network is likely to propel the ring main unit market in the Asia Pacific region. Growing safety and reliability concerns in countries including India, Vietnam, Australia and others have boosted the conversion process, demanding more RMUs.

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The distribution utilities segment of the ring main unit market is expanding incessantly owing to ongoing power sector reforms to enhance the transmission and distribution (T&D) efficiency. The growth in the sector is further attributed to increasing power generation capacity to cater to the increasing electricity demands. Distribution utilities are primarily accountable for the expansion and advancement of the secondary distribution network.

Gas insulated, oil insulated, air insulated and solid dielectric RMUs are the primary available RMUs in the global ring main unit market. Gas insulated (GI) RMUs account for the major share in the ring main unit market owing to its increasing adoption in underground installations, power grids, railway systems, wind power plant, mining and others. The GI RMUs can be easily incorporated in the existing system and requires comparatively lesser space. The GI ring main units are generally preferred where there is a time constraint to commission the project.

Regionally, Global Market Insights, Inc.’s ring main unit market research has the most in-depth, country focused estimates and forecasts for decision makers across the globe. An exhaustive list of company profiles for organizations active in the ring main unit market supports the regional analysis and information offering a competitive outlook on the industry. For each segment analyzed in this research, whether it is by product, application, material or end-use, a regional overview with historical data and ring main unit market forecast is provided to the reader. Such a cross-segmentation research analysis is also unique to reports by Global Market Insights, Inc.

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However, several electric utilities and distribution centers prefer conventional switchgears because of their relatively lower cost than the RMUs, which may hamper the ring main unit market growth.

Some of the key players in the global Ring Main Unit Market are ABB, Siemens, General Electric, Schneider Electric, Eaton, Larsen & Toubro, LSIS, Entec, Lucy Electric, Toshiba, Ormazabal, Yashmun, Tiepco, Honeywell, Yokogawa Electric, Rockwell Automation, Azbil, NovaTech Process.

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