“The ring main unit market is projected to grow at a CAGR of 8.35% from 2017 to 2022”
The ring main unit market is projected to reach USD 2.45 billion by 2022, at a CAGR of 8.35% from 2017 to 2022. Modernization of existing power infrastructure and capacity addition & enhancement plans for distribution networks have been boosting the demand for ring main units. In addition, end-user industries are deploying ring main units in secondary distribution networks for uninterrupted power supply. The high cost of ring main units as compared to conventional switchgear is a key factor restraining the growth of the ring main unit market.
“The gas insulated segment is expected to grow at the highest CAGR from 2017 to 2022”
Based on the type of ring main unit, the gas insulated segment is estimated to be the largest and fastest growing market from 2017 to 2022. The applications of gas insulated ring main unit include railway systems, wind power plants, power grids, underground installations, and mining applications. The gas insulated ring main unit is compact in size and has better functionality compared to other ring main units, thereby, driving the gas insulated ring main unit market.
“The distribution utilities segment is expected to dominate the ring main unit market from 2017 to 2022”
The distribution utilities segment is the largest application market. Ring main units are extensively used by companies for secondary distribution networks and to protect their critical instruments. Moreover, this segment is expected to exhibit the highest CAGR from 2017 to 2022. The usage of ring main units for integrated distributed generation with the central grid is likely to drive the distribution utilities market.
“Asia-Pacific: The largest market for ring main unit”
Asia-Pacific is currently the largest market for ring main unit, followed by Europe and North America. The Asia-Pacific market is driven by power generation capacity addition and enhancement plans for distribution networks in the region. The market in the Asia-Pacific region is projected to grow at the fastest rate, with China expected to dominate the market. The Southeast Asian countries, such as Vietnam and Malaysia, are driving the market in the region. Meanwhile, rural electrification and smart cities are the key growth drivers of the Indian ring main unit market.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 14%, Tier 2- 57%, Tier 3- 29%
- By Designation: C-Level- 14%, D-Level- 14%, Others- 72%
- By Region: Asia-Pacific- 43%, North America- 29%, Europe- 14%, Rest of the World- 14%
Note: The tier of the companies has been defined on the basis of their total revenue; as of 2015: Tier 1 = >USD 10 billion, Tier 2 = USD 1 billion to USD 10 billion, and Tier 3 =
The report defines, describes, and forecasts the global ring main unit market by type, installation, application, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.
Why buy this report?
- The report identifies and addresses key markets for ring main unit, which would help suppliers review the growth in the demand for the product.
The report helps solution providers understand the pulse of the market, and provides insights into drivers, restraints, opportunities, and challenges. The report will help key players understand the strategies of their competitors better, and will help in making strategic decisions.