Ring Main Unit Market

Market Leader - Ring Main Unit Market

The global ring main unit market size is projected to grow at a CAGR of 9.3% from 2020 to 2025. The market is estimated to be USD 1.6 billion in 2020 and expected to reach USD 2.5 billion by 2025. Asia Pacific is estimated to be the largest ring main unit market, followed by North America in 2020. This trend is expected to continue until 2025. Increasing investments in the modernization of aging power infrastructure in North America and growing urbanization, industrialization, and population in Asia Pacific are drving these two regional markets.

The ring main unit market is dominated by a few major players that have an extensive regional presence. The leading players in the ring main unit market are ABB (Switzerland), Schneider Elecctric (France), Eaton (Ireland), Lucy Electric (UK), Larsen & Toubro (India), Siemens (Germany), C&S Electric (India), and LS Electric (South Korea). The major strategies adopted by the players include new product launches and contracts & agreements. New product launches were the most commonly utilized strategy from January 2016 to May 2020.

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ABB is a leading company in automation and power technologies. It offers a wide range of products, solutions, services, and systems to utilities, industrial, and infrastructure & transportation customers. The company operates through four business segments, namely, electrification, robotics & discrete automation, industrial automation, and motion. It provides ring main units under its electrification business segment.The company’s electrification business segment offers low- and medium-voltage products across five business lines, i.e., smart power, smart buildings, distribution solutions, installation products, and industrial solutions, of which, distribution solutions subsegment includes medium- and low-voltage control & protection products, ring main units, systems & switchgear, and automation & services. The company actively focuses on both organic and inorganic business strategies to increase its global market share. For instance, in March 2018, ABB introduced ring main unit digital upgrade—the latest solution to upgrade existing secondary switchgear, enhanced to meet the increasing demands for smart automation solutions in secondary distribution networks. The company offers digital solutions to a wide range of applications in industries, transportation, utilities, and infrastructure. This unique digital offering is expected to create a significant operational difference to its customers and a sustainable and strong revenue generation model. After the outbreak of COVID-19, ABB plans to maintain and supply critical infrastructure to provide essentials services and goods. The company focuses on travel restriction, personal hygiene, social distancing, and encourages people to work from home. Its geographical presence includes AMEA, Europe, and the Americas.

Siemens is a major technology company with core business activities in the field of electrification, automation, and digitalization. The company operates through eight business segments, namely, gas and power, digital industries, smart infrastructure, Siemens Healthineers, Siemens Gamesa renewable energy, mobility, portfolio companies, and financial services. The company offers ring main units under its gas and power business segment.The company’s gas and power business segment provides fully integrated products, services, and solutions across the energy value chain of oil & gas production, transmission, and power generation. The company actively focuses on both organic and inorganic business strategies to increase its global market share. For instance, in March 2019, as a part of organic strategy, Siemens launched SF6-free medium-voltage ring main unit. The gas contained in the ring main unit consists only of natural constituents of ambient air and insulates the current-carrying conductors inside the housing. As a part of Vision 2020+ concept, during 2019, the company introduced a new organizational structure consisting of three operating companies—digital industries, smart infrastructure, and gas and power. With “Vision 2020+”, the company is intended to strengthen its portfolio through investments in new growth fields like IoT integration services

Related Reports:

Ring Main Unit Market by Type (Gas, Air, Oil, and Solid Dielectric), Installation (Outdoor, and Indoor), Application (Distribution Utilities, Industries, and Infrastructure & Transportation), Voltage Rating, and Region - Global Forecast to 2025

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Report Code
EP 4041
RI Published ON
6/8/2020
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