Market Leaders: Ring Main Unit Market
The global ring main unit is projected to reach USD 3.0 billion by 2027 from an estimated USD 2.3 billion in 2022, at a CAGR of 6.0% during the forecast period from 2022„ź2027. A ring main unit is considered as an all-in-one solution that is easy to install and maintenance-free. Various industries are witnessing a general shift toward the adoption of ring main units as it enhances the uptime and reliability of power supply. It can also be fitted or integrated with intelligent electronic devices. Due to its smart capabilities, it is highly demanded in the market. In addition, the global focus on renewable power generation is expected to present numerous growth opportunities for the growth of the ring main unit market.
The Asia Pacific region, followed by Europe, is estimated to be the largest market for ring main units. In the Asia Pacific region, efforts are being taken across countries to upgrade aging infrastructure to ease the integration of renewables in the national grid. Electrification is also being carried out rapidly in this region, especially in remote parts. These developments are increasing the demand for ring main units in the region.
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The ring main unit market is characterized by the presence a mix of large international players with operational presence across the world and local players commanding a strong supply network in the domestic market. The leading players in the global ring main unit are ABB Ltd (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider Electric (France), LS Electric Co., Ltd (South Korea).
ABB ltd is one of the leading global technology companies offering solutions in the fields of automation and power. The company operates its business through four segments, namely, Electrification, Motion, Process Automation, and Robotics & Discrete Automation. The Electrification segment of the company offers products in six sub segments, namely, Smart power, Smart industry, E-mobility solutions, Smart cities, Smart Living, Smart distribution. Under the Smart distribution sub segment, the company offers gas-insulated ring main units. With years of experience in the field of digital technologies, the company has been offering smart distribution solutions that ensure safety and reliability with minimum power losses. ABB Ltd operates in more than 100 countries across Europe, North America, Asia Pacific, South America, and the Middle East & Africa.
Siemens is a technology company offering services in the areas of automation and digitalization in the process and manufacturing industries, industrial application, intelligent infrastructure for buildings and distributed energy systems, and smart mobility solutions for road, rail, and digital health services. The company operates its business through four segments, namely, Digital Industrial Application, Smart Infrastructure, Mobility, and Siemens Healthineers. The Smart Infrastructure segment offers ring main units to customers. Siemens has presence in Europe, North America, the Middle East, South America, Africa, and Asia Pacific. The company operates in more than 100 countries globally and has a strong network of regional offices, research and development facilities, and sales offices.
Eaton is one of the leading manufacturers of power management equipment. The company provides energy-efficient solutions for managing electrical, mechanical, and hydraulic power. The company operates its business through five segments, namely, Electrical, Hydraulics, Aerospace, Vehicle, and eMobility. The Electrical segment offers ring main units to customers. The Electrical segment is sub segmented into two segments, namely, Electrical Americas and Electrical Global. The company has strong global presence in regions such as North America, Europe, Asia Pacific, and Latin America and operates through more than 40 subsidiaries.
Related Reports:
Ring Main Unit Market by Insulation Type (Gas-insulated, Air-insulated, Oil-insulated, Solid Dielectric), Installation (Indoor, Outdoor), Voltage Rating (Up to 15 kV, 15 kV–25 kV, Above 25 kV), Structure, Application, Region - Global Forecast to 2027
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