Ring Main Unit Market Analysis

Global Ring Main Unit Market Overview:

Ring Main Unit Market Size was valued at USD 2.2 Billion in 2023. The Ring Main Unit Market  industry is projected to grow from USD 2.40 Billion in 2024 to USD 4.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.45% during the forecast period (2024 - 2032). Focus on enhancing power distribution infrastructure and increasing electricity demand are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Ring Main Unit Market Trends

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  Growing Industrial Infrastructure to Drive Market Growth

  
  

Market CAGR for ring main unit is being driven by the rising industrial infrastructure. Increased investment in industrial infrastructure is expected to accelerate the power supply and distribution lines throughout industries and regions. The increased industrialisation has accelerated the establishment of new industrial facilities. Complex electrical substations are required by industries to meet their power needs and minimise mishaps caused by overloading. To maintain voltage variations, switching equipment such as the RMU is required. Because of the rising reliance on electrical machinery in industries, it has become critical to ensure the safe operation of electric supply. As a result, increasing investments in industrial infrastructure drive market growth during the projection period.

Furthermore, consumers' growing environmental consciousness and increased emphasis on lowering carbon emissions will stimulate the creation of renewable energy. The growth of the renewable energy business has prompted governments to build power plants to generate electricity from a variety of renewable resources. The growing reliance on renewable energy resources for power generation can also be attributed to the cheaper capital requirements compared to oil and gas.

The Levelized Cost of Electricity Generation (LCOE) using various energy sources from various world areas was analysed in the IRENA's (International Renewable Energy Agency) Projected Costs of Generating Electricity 2020. Wind energy was discovered to be the least expensive, while coal energy was discovered to be the most expensive. Increased investment in renewable energy sources is predicted to boost distribution utility, necessitating the use of smart switching technology. As a result of these reasons, this market is predicted to expand.

In addition, technological developments are a major trend that is gaining traction in the ring main unit industry. Major players in the ring main unit market are focusing on developing new technical solutions to strengthen their market position. For example, in April 2021, Siemens AG, a German ring main unit manufacturer, introduced the 8DJH 24 switchgear, a totally fluorinated gas-free ring main unit (RMU) for line voltages up to 24 kilovolts (kV) manufactured with vacuum technology. Siemens' new F-gases technology replaces both the SF6 insulating medium and the fluorine-based gas mixture. As a result, the distinctive features of this innovative switchgear reduce the carbon footprint of grid operators. The switchgear is safe and simple to handle, and it is easily recyclable.

Ring Main Unit Market Segment Insights:

Ring Main Unit Type Insights

The Ring Main Unit Market segmentation, based on type includes oil insulated, gas insulated, air insulated, and solid dielectric. Gas-insulated segment dominate the market with a share of 68%, because they are chemically resistant and small, and have outstanding functionality and durability during secondary distribution. Gas insulation is commonly utilised in railway systems, electricity grids, mines, wind farms, and subterranean facilities. Furthermore, gas-insulated RMUs have superior high-temperature endurance and effective load balancing, which are major benefits driving market expansion.

Ring Main Unit Installation Insights

The Ring Main Unit Market segmentation, based on installation, includes indoor and outdoor. The outside segment dominated the market, due to the increased investments in the renewables industry, which would further contribute to an increase in the necessity for outdoor RMUs, to meet the rising energy generation. However, most RMUs are now installed indoors due to their widespread use in industrial and power production applications, which can be attributed to their ease of maintenance, high durability, and compact design.

Figure 1: Ring Main Unit Market, by Installation, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Ring Main Unit Application Insights

The Ring Main Unit Market segmentation, based on application, includes distribution utilities, industrial, commercial. The distribution utilities segment dominates the market due to the wide range of applications, such as the construction of power distribution infrastructure in response to increased energy demand caused by urbanisation and industrialisation. RMUs are becoming more important as smart grid adoption grows due to the need to reduce losses and boost energy efficiency. The distribution utility segment of the market is expected to grow as transmission and distribution networks expand and RMU technology advances.

Ring Main Unit Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific Ring Main Unit Market area will dominate this market, because of rising electricity demand and a greater emphasis on renewable energy sources. Furthermore, favourable government policies and regulations targeted at modernising the power system are fueling regional industry expansion. Moreover, China’s Ring Main Unit Market held the largest market share, and the Indian Ring Main Unit Market was the fastest growing market in the Asia-Pacific region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Ring Main Unit Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s Ring Main Unit Market accounts for the second-largest market share due to growing emphasis on renewable energy installations and utilizations, coupled with government goals. Further, the German Ring Main Unit Market held the largest market share, and the UK Ring Main Unit Market was the fastest growing market in the European region

The North America Ring Main Unit Market is expected to grow at the fastest CAGR from 2023 to 2032. This is because of the expanding transmission and distribution network infrastructure.

Ring Main Unit Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Ring Main Unit Market , grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Ring Main Unitindustry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Ring Main Unit industry to benefit clients and increase the market sector. In recent years, the Ring Main Unit industry has offered some of the most significant advantages to medicine. Major players in the Ring Main Unit Market , including ABB Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation, PLC (Ireland), Siemens AG (Germany), General Electric Company (U.S.) and others, are attempting to increase market demand by investing in research and development operations.

Siemens is a German multinational conglomerate and Europe's largest industrial manufacturing firm. Its headquarters are in Munich, and it has a number of foreign branch offices. The company's primary divisions are Digital Industries, Smart Infrastructure, Mobility, Healthcare (named Siemens Healthineers), and Financial Services.The firm is a notable manufacturer of medical diagnostics equipment; its medical health-care segment, which accounts for around 12% of total revenues, is the corporation's second-most lucrative unit after the industrial automation division. It is considered as a pioneer in this field and the corporation with the largest revenue in the world. In March 2019, Siemens sent out a sans sf6 medium-voltage ring primary unit. The gas contained in the first ring unit consists solely of elements of the surrounding air and shields the current-conveying conductors within the lodge. The use of "Clean Air" makes it straightforward to deal with during its whole existence.

Larsen & Toubro Ltd, or L&T, is a Mumbai-based Indian multinational conglomerate with interests in engineering, construction, manufacturing, technology, information technology, and financial services. The corporation is ranked among the top five construction firms in the globe. Henning Holck-Larsen and Sren Kristian Toubro, two Danish engineers seeking asylum in India, formed the company. Larsen & Toubro began in 1946 in Bombay, India, by two Danish engineers, Henning Holck-Larsen and Sren Kristian Toubro. In April 2020, Larsen & Toubro was awarded a contract to strengthen Chennai's metropolitan HT line dispersion network by adding ring principal units and feeder distant terminal units on an absolute turnkey basis. Similarly, fully robotized, automated 33 kV gas Insulated substations will be installed in strategic locations.

Key Companies in the Ring Main Unit market include

• ABB Lid. (Switzerland)


• Schneider Electric SE (France)


• Eaton Corporation PLC (Ireland)


• Siemens AG (Germany)


• General Electric Company (U.S.)


• Lucy Electric Limited (UK)


• L&T (India)


• Yokogawa Electric Corporation (Japan)


• Switch Gear Company (Belgium)


• EPE Switchgear (M) Sdn Bhd. (Malaysia)

Ring Main Unit Industry Developments

In August 2021,Tanweer, a Nama Group subsidiary, constructed an 11 kV underground cable to the present RMU and upgraded the Dowa primary sub-station in Muscat, Oman. The project to improve grid dependability is worth OMR 186,340.

In July 2021,an RMU was installed in South Africa's Riba substation. The substation regulates power to communities such as Thushanang, Capstand, Lynnville, and Ackerville. This advancement is expected to improve circuit control and isolation, resulting in an uninterrupted and stable supply.

In April 2019,Eaton finalised its 82% controlling stake acquisition of Ulusoy Elektrik, a major maker of medium voltage electrical equipment.

Alfanar Group displayed its product assortment at the Saudi Arabian Smart Grid Conference 2022 in March 2023. Some of its showcased smart grid products and solutions included new smart meters for the KSA market, RMU products, which were cleverly designed as smart ring main unit products and DAS solutions or distribution automation systems.

In January 2023, Schneider Electric brought to the Indian market a product called “Altivar Soft Starter ATS 480.” A motor is an integral part of all industrial operations. They consume approximately 60-95% of the electricity used by a plant on average.

By December 2022, Schneider Electric plans to build another factory in Bengaluru to raise its production capacity in that market. The manufacturing house will also bring six out of ten existing facilities under one roof at a cost of INR425cr.

India’s Lucy Electric announced its first order for delivery of eight recently launched Aegis Ring Main Units (12kV) in August 2022.

Schneider Electric SE partnered with Cisco to create Egypt’s national smart grid system in February 2022. Under it, Schneider Electric SE will deploy net control centers along with four thousand recognized area network (smart) ring main units or RMUs so as to sense and rectify network faults.

Mitsubishi Electric said it would construct a new production facility for Factory Automation Control Systems within India and strengthen manufacturing capabilities in the country in June 2022. Mitsubishi Electric India is investing USD27m into this plant, which is slated to open doors by December 2023.

Tanweer, under Nama Group, concluded an assignment in Muscat, Oman, in August 2021. The project entailed adding a transformer rated at 6MVA to the Dowa primary substation and installing an underground cable rated at 11 kV from the existing RING MAIN UNIT targeted towards improving grid reliability. This total project investment amounted to OMR186340 for enhancing grid reliability.

In April 2021, Siemens AG introduced its new Fluorinated gas-free ring main units (RMU) for line voltages up to 24 kilovolts (kV). These innovative products will set a new benchmark in terms of carbon-free power distribution.

Ring Main Unit Market  Segmentation:

Ring Main Unit Market By Type Outlook

• Oil Insulated


• Gas Insulated


• Air Insulated


• Solid Dielectric

Ring Main Unit Market By Installation Outlook

• Indoor


• Outdoor

Ring Main Unit Market By Application Outlook

• Distribution Utilities


• Industrial


• Commercial

Ring Main Unit Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America