Ring Main Unit Market to exceed 400,000 units by 2024

Ring Main Unit Market to exceed 400,000 units by 2024

Ring Main Unit Market to be characterized by large-scale electric microgrid expansion, South Africa to emerge as a key growth avenue over 2017-2024
Ring Main Unit Market by Insulation (Gas, Air, Oil, Solid di-electric), By Position (3-position, 6-position, 10-position), By Installation (Indoor, Outdoor), By Component (Switch & fuses, Self-powered electronic relays), By Application (Distribution utilities, Industries, Infrastructure, Transportation), Industry Analysis Report, Regional Outlook, Price Trends, Competitive Market Share & Forecast, 2017 – 2024

The U.S. Ring Main Unit Market will grow owing to rising investments toward the refurbishment of aging grid infrastructure coupled with integration of advance distribution control technologies. Expeditious development across the railroad infrastructure projects supported by the peninsula corridor electrification program will augment the industry size. In 2017, Federal Transit Administration of the U.S. proposed an investment worth USD 100 million subject to the expansion of rail networks across California under the San Carlos Peninsula Corridor Electrification Project.

Schneider Electric’s launch of RN2D, a next-gen RMU, in Q2 2017, has reportedly upscaled the product landscape of ring main unit market. Outlined by the urgent global requirement of reduced power consumption and energy efficiency, ring main unit demands the introduction of contemporary and highly efficient product ranges in addition to the expansion of older electric networks. Schneider’s RN2D, falls under the former tactic, and has been touted to influence other ring main unit market players to brainstorm related products to be introduced for electrical grid networks.

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The RN2D, basically an advanced version of the current Ringmaster RN2c, has been designed for medium voltage networks up to 13.8 KV. Conceived to work in indoor and outdoor applications, the product is endowed with the characteristics of safety, reliability, longevity, and most importantly, smart integration. Given that consumers of late have been looking for safe, reliable, versatile, high quality, and environment-friendly RMUs, RN2D is likely to experience commendable sales in ring main unit industry. As per estimates though, ring main unit market size was pegged at USD 1.5 billion in 2016.

The South Africa belt has been evolving as the next growth avenue for ring main unit market, given the extensive grid expansions that the nation has been witnessing. In addition, the country is being endowed with generous grants by finance organizations such as the International Finance Corporation and the African Development Bank for grid expansion and electrification projects, which would favorably impact the regional ring main unit industry share. Recently, in 2017, the African Development Bank has reportedly invested close to USD 12 billion for the region’s electricity sector. The soaring demand for power coupled with the robust requirement of grid expansions in the country will undeniably augment South Africa ring main unit market size, projected to surpass USD 55 million by 2024.

A recent trend that has been prevalent in South Africa is the establishment of renewable microgrids. The village of Entesopia in southern Kenya, for instance, is currently powered by means of a modular solar grid of 8.5 KW capacity, as opposed to a complex grid structure.

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Renewable microgrids, it has been observed, are being increasingly installed across the globe for high-grade flexibility and resilience. As the demand for these grids escalates in the forthcoming years, ring main unit market would observe a proportional expansion, pertaining to the fact that these microgrids would demand the requirement of technologically advanced RMUs.

Browse key industry insights spread across 465 pages with 774 market data tables & 20 figures & charts from the report, “ Ring Main Unit Market Size, By Insulation (Gas, Air, Oil, Solid di-electric), By Position (3-position, 6-position, 10-position), By Installation (Indoor, Outdoor), By Component (Switch & fuses, Self-powered electronic relays), By Application (Distribution utilities, Industries, Infrastructure, Transportation), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, UK, Germany, Russia, Italy, Spain, France, China, India, Japan, South Korea, Australia, Malaysia, Saudi Arabia, UAE, Kuwait, Qatar, South Africa, Nigeria, Brazil, Chile, Venezuela), Price Trends, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/ring-main-unit-market

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