Market Trends of Ring Main Unit Industry
This section covers the major market trends shaping the Ring Main Unit Market according to our research experts:
Electricity Distribution Segment Expected to Dominate the Market
- Ring main unit (RMU) is a compact, sealed for life metal-enclosed switchgear widely used in urban power distribution network. A ring main unit includes a combination of one or more load break switch (LBS) cum earth switch as incomer and outgoing feeder and vacuum circuit breaker with associated disconnector and earth switch for load feeders.
- Most of the developed countries in the world already achieved 100% access to electricity long ago and now working on the up-gradation of its outdated distribution systems. In contemporary, the developing nations are witnessing rapid growth in the energy demand and distribution system, which is likely to use ring main units in new electricity distribution projects.
- In 2019, the global electricity generation was 27004.7 Terawatt-Hour (TWh), which was higher than what the world produced in 2018, 26652.7TWh. The increase in electricity generation and its transmission exhibits an expansion of the distribution system, which are likely to use ring main unit.
- Moreover, the ring main units are extensively used for the underground cable distribution network, a more effective and safer way to transfer electricity. The increase in the underground cable network, which is more reliable in natural calamities such as storm and earthquake, is likely to drive the ring main unit market.
- Hence, owing to the above points, the electricity distribution segment is likely to dominate the ring main unit market during the forecast period.
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Asia-Pacific Expected to Dominate the Market
- Asia-Pacific, due to the rapidly increasing energy demand and increasing urbanization along with commercial operations, the region is likely to be the largest market for the ring main unit. Moreover, the continually growing demand for power supply in the country is expected to drive the region's ring main unit market.
- Countries in the Asia-Pacific region such as China, India, and Indonesia because of rapidly increasing infrastructures in the countries are expanding their existing distribution system by installing new compact substations to fill the energy demand-supply gap in their respective country. Such developments are likely to use several ring main units at every end-user level.
- In 2019, the Asia-Pacific's primary energy consumption was 257.56 Exajoules, which was about 44.1% of the world's total primary energy. The region's considerable share of energy demand is likely to create dominance over the ring main unit market.
- The small industrial and residential sectors are witnessing a rapid expansion due to the region's continually growing population. These sectors are more likely to use compact substations that use ring main unit as one of its features, thus driving the market in the Asia-Pacific region.
- Hence, owing to the above points, Asia-Pacific is expected to dominate the ring main unit market during the forecast period.
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