Ring Main Unit Market: By Insulation Type, By Installation, By Application, By End-User, and Geography
Ring Main Unit Market: By Insulation Type, By Installation, By Application, By End-User, and Geography
Ring Main Unit Market size was valued at US$ 2,391.1 million in 2023 and is expected to grow at a 6.4% CAGR from 2024 to 2030. A ring main unit is a set of switchgear commonly used in ring-type electrical power distribution networks. The ring main unit plays an important role in secondary distribution substations. The ring main unit has various applications such as infrastructure, transport, and construction. The increasing capacity additions and enhancement plans for distribution networks and modernization of existing power infrastructure along with the growing focus on strengthening power distribution infrastructure is expected to drive the growth. In addition, increasing demand for electricity across the globe owing to frequent power cuts in extreme weather is expected to boost the growth of the market over the forecast period.
For instance, in February 2021, Texas saw a record low temperature and snow leading the state’s electric grid operator to lose control of the power supply leaving millions without power, this is attributed to aging infrastructure, lack of investments, and lack of clear policies to modernize the grids. Furthermore, growing industrial infrastructures and increasing demand for renewable energy are anticipated to further propel the growth of the market at a significant rate over the forecast period. However, factors like the strict emission regulations regarding the use of SF6 a highly potent greenhouse gas, and high capital costs are expected to hinder the growth. Moreover, increasing demand for smart grid response and energy efficiency in various applications in reducing the pea demand is expected to increase the deployment of smart grids and digitalization and open a significant opportunity for market players and manufacturers in the forecast years.
In August 2022, Lucy Electric, India announced their first order of 8 recently launched Aegis 12kV Ring Main Units was dispatched.
Study Period
2024-2030Base Year
2023CAGR
6.40%Largest Market
Asia PacificFastest Growing Market
North America
The ring main unit market is expected to grow over the forecast period due to the increasing demand for electricity across the globe leading to the expansion of power transmission and distribution infrastructure. The growing population and industrialization have resulted in a massive increase in global energy demand. Thus, expected to drive the growth. In addition, the ring main units are widely used in the protection and control of power distribution networks from overloads, faults, and other incidence, ensuring power reliability and continuity.
The Asia Pacific ring main unit market is likely to hold a significant revenue share, and in the forecast years, it is predicted to increase rapidly due to the growing population leading to increase in demand for energy in emerging countries such as India, and China. North America region is expected to have highest CAGR and have a significant growth due to increasing focus of market players in grid modernization and shift towards smart grids. In addition, increasing demand for reliable and efficient power distribution infrastructure is expected to fuel the growth.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 2,391.1 million |
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Market CAGR |
6.40% |
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By Insulation Type |
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By Application |
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By Installation |
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By End User |
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By Region |
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The global ring main unit market size was valued at US$ 2,391.1 million in 2023 and is projected to grow at a CAGR of 6.4% from 2024-2030.
Increasing demand for electricity leading to increasing need for reliable and efficient power distribution infrastructure is expected to drive the ring main unit market over the forecast period.
The leading players in the global Ring Main Unit market are Schneider Electric SE, Larsen & Toubro Limited, Eaton Corporation PLC, ABB Ltd, Toshiba Corp, C&S Electric Ltd, General Electric Company, Ormazabal, Crompton Greaves, Siemens AG, TIEPCO, Larsen & Toubro Ltd.
Asia Pacific region is expected to have largest CAGR and is expected to dominate the global ring main unit market.
| 1.Executive Summary |
| 2.Global Ring Main Unit Market Introduction |
| 2.1.Global Ring Main Unit Market - Taxonomy |
| 2.2.Global Ring Main Unit Market - Definitions |
| 2.2.1.Insulation Type |
| 2.2.2.Application |
| 2.2.3.Installation |
| 2.2.4.End User |
| 2.2.5.Region |
| 3.Global Ring Main Unit Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Ring Main Unit Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Ring Main Unit Market By Insulation Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Oil-Based |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Dry-Type |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Others |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6.Global Ring Main Unit Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Distribution Utilities |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Industrial |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Commercial |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Others |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 7.Global Ring Main Unit Market By Installation, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Indoor |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Outdoor |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 8.Global Ring Main Unit Market By End User, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Electricity Distribution |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Infrastructure |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Industries |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Others |
| 8.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 9.Global Ring Main Unit Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific (APAC) |
| 9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Middle East and Africa (MEA) |
| 9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Latin America |
| 9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 10.North America Ring Main Unit Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Insulation Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Oil-Based |
| 10.1.2.Dry-Type |
| 10.1.3.Others |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Distribution Utilities |
| 10.2.2.Industrial |
| 10.2.3.Commercial |
| 10.2.4.Others |
| 10.3. Installation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Indoor |
| 10.3.2.Outdoor |
| 10.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Electricity Distribution |
| 10.4.2.Infrastructure |
| 10.4.3.Industries |
| 10.4.4.Others |
| 10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1.United States of America (USA) |
| 10.5.2.Canada |
| 11.Europe Ring Main Unit Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Insulation Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Oil-Based |
| 11.1.2.Dry-Type |
| 11.1.3.Others |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Distribution Utilities |
| 11.2.2.Industrial |
| 11.2.3.Commercial |
| 11.2.4.Others |
| 11.3. Installation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Indoor |
| 11.3.2.Outdoor |
| 11.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.Electricity Distribution |
| 11.4.2.Infrastructure |
| 11.4.3.Industries |
| 11.4.4.Others |
| 11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1.Germany |
| 11.5.2.France |
| 11.5.3.Italy |
| 11.5.4.United Kingdom (UK) |
| 11.5.5.Spain |
| 12.Asia Pacific (APAC) Ring Main Unit Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Insulation Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Oil-Based |
| 12.1.2.Dry-Type |
| 12.1.3.Others |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Distribution Utilities |
| 12.2.2.Industrial |
| 12.2.3.Commercial |
| 12.2.4.Others |
| 12.3. Installation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Indoor |
| 12.3.2.Outdoor |
| 12.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.Electricity Distribution |
| 12.4.2.Infrastructure |
| 12.4.3.Industries |
| 12.4.4.Others |
| 12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1.China |
| 12.5.2.India |
| 12.5.3.Australia and New Zealand (ANZ) |
| 12.5.4.Japan |
| 12.5.5.Rest of APAC |
| 13.Middle East and Africa (MEA) Ring Main Unit Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Insulation Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Oil-Based |
| 13.1.2.Dry-Type |
| 13.1.3.Others |
| 13.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Distribution Utilities |
| 13.2.2.Industrial |
| 13.2.3.Commercial |
| 13.2.4.Others |
| 13.3. Installation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Indoor |
| 13.3.2.Outdoor |
| 13.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Electricity Distribution |
| 13.4.2.Infrastructure |
| 13.4.3.Industries |
| 13.4.4.Others |
| 13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1.GCC Countries |
| 13.5.2.South Africa |
| 13.5.3.Rest of MEA |
| 14.Latin America Ring Main Unit Market 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 14.1. Insulation Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1.Oil-Based |
| 14.1.2.Dry-Type |
| 14.1.3.Others |
| 14.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1.Distribution Utilities |
| 14.2.2.Industrial |
| 14.2.3.Commercial |
| 14.2.4.Others |
| 14.3. Installation Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1.Indoor |
| 14.3.2.Outdoor |
| 14.4. End User Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1.Electricity Distribution |
| 14.4.2.Infrastructure |
| 14.4.3.Industries |
| 14.4.4.Others |
| 14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1.Brazil |
| 14.5.2.Mexico |
| 14.5.3.Rest of LA |
| 15. Competition Landscape |
| 15.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 15.2.1.Schneider Electric SE |
| 15.2.2.Larsen & Toubro Limited |
| 15.2.3.Eaton Corporation PLC |
| 15.2.4.ABB Ltd |
| 15.2.5.Toshiba Corp |
| 15.2.6.C&S Electric Ltd |
| 15.2.7.General Electric Company |
| 15.2.8.Ormazabal |
| 15.2.9.Crompton Greaves |
| 15.2.10.Siemens AG |
| 15.2.11.TIEPCO |
| 16. Research Methodology |
| 17. Appendix and Abbreviations |
Key Market Players
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