Global Ring Main Unit Market Insights Forecasts to 2033

• The Global Ring Main Unit Market Size was Valued at USD 2.43 Billion in 2023
• The Market Size is Growing at a CAGR of 8.01% from 2023 to 2033
• The Worldwide Ring Main Unit Market Size is Expected to Reach USD 5.25 Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Global Ring Main Unit Market Size is Anticipated to Exceed USD 5.25 Billion by 2033, Growing at a CAGR of 8.01% from 2023 to 2033.   

Market Overview

The ring main units are vital modules in standard voltage electrical distribution networks. Compact, metal-enclosed switchgear sealed for life, urban power distribution networks extensively utilize the ring main unit. It is made up of numerous components, such as circuit breakers, protection relays, fuses, load break switches, transformers, control panels, busbars, and enclosures. This is broadly used in urban and residential areas, impermanent installations, data centers, renewable energy integration, and infrastructure projects. It delivers idleness and substitute paths for power flow, which confirm the dependability of electrical distribution networks, increase security, and lessen the effect of electrical faults and outages. One of the main drivers of market expansion in the smart grid infrastructure is the increasing use of products. In smart grids, the ring main unit is commonly utilized to provide automation, control, and remote monitoring of power distribution networks. In addition to this, another element driving development is the rising product acceptance brought about by the quick upgrading of the outdated electrical grid infrastructure. A further element driving expansion is the enforcement of stringent government laws aimed at improving the security and safety of electricity distribution networks. Furthermore, the increased demand for products that lower carbon emissions, save resources, optimize energy distribution, decrease losses, and enhance overall system efficiency is being facilitated by the increased attention on energy efficiency throughout the world.

Report Coverage

This research report categorizes the market for the global ring main unit market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global ring main unit market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global ring main unit market.

Driving Factors

The enhancement of power distribution acts as a major force driving the global ring main unit market forward. Due to the rising need for electricity fueled by urbanization, industrialization, and population growth, it is crucial to improve the dependability, effectiveness, and toughness of power distribution networks. Consequently, utility companies and grid operators around the globe are investing in costly projects to enhance and update their distribution systems. One important part of this modernization project is the enhancement and streamlining of distribution networks to meet increasing electricity needs and efficiently incorporate renewable energy sources. Ring main units are essential in this process as they assist in the effective distribution of power, allowing for rapid identification, isolation, and restoration of faults. Technological progress is causing an increase in the use of smart grid solutions, leading to a higher demand for ring main units. These smart systems utilize advanced monitoring, control, and communication features to improve grid operations, boost asset management, and enable the incorporation of distributed energy resources.

Restraining Factors

The increasing emission regulations limiting the use of sulfur hexafluoride are emerging as a major obstacle for the global ring main unit market. Sulfur hexafluoride gas is commonly used as insulation in ring main units because of its superior dielectric properties and thermal conductivity, allowing for compact design and effective performance. Nevertheless, sulfur hexafluoride is a strong greenhouse gas with a high global warming potential, leading regulatory agencies around the world to enforce strict limitations on its usage to reduce its environmental impact.    

Market Segmentation

The global ring main unit market share is classified into insulation type, installation, and voltage rating.

• The gas segment is anticipated to hold the largest market share during the forecast period.

Based on the insulation type, the global ring main unit market is divided into gas. air, oil, and solid. Among these, the gas segment is anticipated to hold the largest market share during the forecast period. Gas-insulated ring main units use sulfur hexafluoride gas to insulate, providing excellent dielectric properties and allowing for small and light designs. Gas-insulated ring main units are ideal for installations in limited spaces like densely populated urban areas or indoor substations due to their efficient space utilization.

• The outdoor segment is estimated to be the fastest-growing region in the market during the forecast period.

Based on the installation, the global ring main unit market is divided into indoor and outdoor. Among these, the outdoor segment is estimated to be the fastest-growing region in the market during the forecast period. The growing emphasis on enhancing and updating power distribution infrastructure in developing regions requires the use of ring main units in outdoor environments to improve grid reliability and resilience. Outdoor ring main units are purposely created to endure severe weather conditions, such as extreme temperatures, humidity, and exposure to UV radiation, which makes them ideal for outdoor setups in various geographic regions.

• The up to 15KV segment is anticipated to dominate the market during the forecast period.

Based on the voltage rating, the global ring main unit market is divided into up to 15KV, 15-25KV, and above 25KV. Among these, the up to 15KV segment is anticipated to dominate the market during the forecast period. A voltage range of up to 15 kV is frequently seen in medium-voltage electrical distribution systems, which are widely utilized in industrial complexes, residential areas, and commercial settings. Ring main units in this section are designed to effectively distribute electrical power while also protecting against faults like short circuits.

Regional Segment Analysis of the Global Ring Main Unit Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global ring main unit market over the predicted timeframe.

Asia Pacific is anticipated to hold the largest share of the global ring main unit market over the predicted timeframe. Due to its rapid economic and industrial growth, the Asia Pacific region's need for reliable and efficient power distribution infrastructure has led to the growth of the ring main unit market in the area. The rapid urbanization and industrialization in the Asia Pacific are key factors driving the ring main unit market in the region. With the growth of urban areas and the rise of various industries, there is now a higher demand for reliable and strong medium-voltage distribution networks. Ring main units are ideal for meeting demands in crowded urban areas with limited space due to their compact design and improved protection features. Moreover, governments in the Asia Pacific region are giving importance to projects aimed at improving energy accessibility, increasing grid reliability, and incorporating renewable energy sources into the energy mix. This has led to an increased emphasis on utilizing advanced technologies such as ring main units to guarantee effective power distribution and reduce grid instability.

Europe is expected to grow at the fastest pace in the global ring main unit market during the forecast period. Anticipated growth in the European market is attributed to diverse reasons, including greater investments in power distribution infrastructure, escalating interest in renewable energy sources, and increasing demand for dependable and effective electrical systems. The region has a developed power distribution system, and the increasing industrial and residential sectors are projected to boost the need for RMUs. Government programs to encourage energy-efficient solutions and investments in smart grid technologies are expected to enhance the region's development as well.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global ring main unit market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• ABB Ltd
• Siemens
• Eaton
• Schneider Electric
• LS Electric Co., Ltd
• Lucy Electric
• CG power & industrial solutions
• Tiepco
• Orecco
• Entec Electric & Electronics
• Toshiba Corp
• Larsen & Toubro Limited
• alfanar Group
• EPE Switchgear Sdn. Bhd.
• Yokogawa Electric Corporation
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In June 2022, Schneider Electric agreed to supply 4,000 ring main units and four control centers to update Egypt's national grid.

• In June 2022, Schneider Electric broadened its range of environmentally friendly and digital MV switchgear by introducing GM AirSeT.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global ring main unit market based on the below-mentioned segments: 

Global Ring Main Unit Market, By Insulation Type

• Gas
• Air
• Oil
• Solid

Global Ring Main Unit Market, By Installation

• Indoor
• Outdoor

Global Ring Main Unit Market, By Voltage Rating

• Up to 15KV
• 15-25KV
• Above 25KV

Global Ring Main Unit Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa