Global Ring Main Unit Market (2020 to 2025) - Growing Renewable Energy Sector Presents Opportunities

DUBLIN, July 6, 2020 /PRNewswire/ -- The "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" report has been added to ResearchAndMarkets.com's offering.

The global ring main unit market is estimated to be USD 1.6 billion in 2020 and projected to reach USD 2.5 billion by 2025, at a CAGR of 9.3%.

The modernization of infrastructure in the US and the growing adoption of renewable energy in China are the major driving factors for the overall ring main unit market growth.

Furthermore, According to the US Department of Energy (DOE), nearly 60% of the distribution poles in the US are 30-50 years old, and 70% transformers are 25 years old and approaching the end of their useful life. Aging infrastructure is resulting in power blackouts in the region, leading to economic losses. Replacement of old power infrastructure is expected to provide growth opportunities for the ring main unit market.

The outdoor segment is the largest and fastest-growing ring main unit market during the forecast period

The outdoor segment is anticipated to constitute the majority of the ring main unit market share. Outdoor ring main units are installed outdoors and suitable for harsh environmental conditions and temperatures. Outdoor ring main units are demanded where there are no particular space constraints for the installation of ring main units. Increasing investments in distribution networks due do the rise in urbanization in developing countries is expected to drive the market for outdoor ring main units.

The distribution utilities segment is projected to dominate the ring main unit market during the forecast period

The distribution utilities segment is predicted to dominate the ring main unit market. The growth of this segment can be attributed to the increasing demand for power, which leads to the installation of new substations, resulting in an increase in the demand for ring main units. However, due to COVID-19, there will be a delay in the ongoing projects, which will have a negative impact on the demand for ring main units in the next 2 years.

The gas-insulated segment is projected to dominate the ring main unit market during the forecast period

The gas-insulated segment is expected to dominate the ring main unit market during the forecast period. Gas-insulated ring main units use SF6 gas and occupy less space than air and oil insulated ring main units. Hence, they are more demanded across utilities. Also, gas-insulated ring main units are easy to maintain and operate. With the growing power consumption in China, the US, and India, gas-insulated ring main units are expected to witness remarkable growth in the future.

Asia Pacific is expected to grow at the highest CAGR from 2020 to 2025

Asia Pacific is expected to grow at the highest CAGR during the forecast period, followed by Africa & Middle East. Power generation capacity expansion and shift toward renewable energy sources in countries like China, India, and Japan are increasing the ring main unit demand in Asia Pacific. According to IEA, the power sector in sub-Saharan Africa requires an additional investment of about USD 450 billion by 2040, leading to an increase in the demand for ring main units. The COVID-19 outbreak is profoundly affecting both the service and manufacturing sectors alike. With more and more countries restoring to nationwide lockdown to prevent a further spike in the spread of the disease, the African economy has slowed down due to a high number of COVID-19 cases in countries such as South Africa and Egypt.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Ring Main Unit Market During the Forecast Period
4.2 Ring Main Unit Market, by Region
4.3 Ring Main Unit Market, by Type
4.4 Ring Main Unit Market, by Installation
4.5 Ring Main Unit Market, by Application
4.6 Ring Main Unit Market, by Voltage Rating

5 Market Overview
5.1 Introduction
5.2 Covid-19 Health Assessment
5.3 Market Dynamics
5.3.1 Drivers
5.3.1.1 Increasing Capacity Additions and Enhancement Plans for Distribution Networks
5.3.1.2 Modernization of Existing Power Infrastructure by Integrating It With Smart Capabilities
5.3.2 Restraints
5.3.2.1 Reduced Profit Margins of Utilities Due to Declining Energy Cost
5.3.2.2 High Cost as Compared to Conventional Switchgears
5.3.3 Opportunities
5.3.3.1 Growing Renewable Energy Sector
5.3.4 Challenges
5.3.4.1 Presence of Low-Quality Counterfeits and Gray Market
5.3.4.2 Increasing Product Cost Due to Shortage of Components/Parts Due to Covid-19
5.4 Value Chain Analysis
5.4.1 Raw Material Suppliers
5.4.2 Component Manufacturing
5.4.3 Hardware Assembly
5.4.4 Distribution & Post-Sales Services
5.5 Case Study Analysis
5.5.1 Ring Main Units for Utilities
5.5.1.1 Sc Coburg Used Eco-Friendly Ring Main Units from Abb Which Helped in Increasing Reliability of Power Supply
5.5.1.2 Tenega Naisonal Berhad Used Sabre Ring Main Units from Lucy Electric to Develop Electrical Distribution Infrastructure

6 Scenario Analysis
6.1 Scenario Analysis
6.1.1 Optimistic Scenario
6.1.2 Realistic Scenario
6.1.3 Pessimistic Scenario

7 Ring Main Unit Market, by Type
7.1 Introduction
7.2 Gas Insulated
7.2.1 Advantage of Compactness to Drive the Segment
7.3 Air Insulated
7.3.1 Modernization of Electricity Distribution in Developing Countries Wil Drive the Segment
7.4 Oil Insulated
7.4.1 Growing Industrial Sector in Asia-Pacific and Middle East Wil Drive the Segment
7.5 Solid Dielectric
7.5.1 Benefits Like Operational Safety and Low Carbon Emissions to Drive the Segment

8 Ring Main Unit Market, by Installation
8.1 Introduction
8.2 Outdoor
8.2.1 Increasing Installation of Solar and Wind Power Plants Will Drive the Segment
8.3 Indoor
8.3.1 Growing Industrial & Commercial Sectors in Developing Countries Will Drive the Segment

9 Ring Main Unit Market, by Application
9.1 Introduction
9.2 Distribution Utilities
9.2.1 Increasing T&D Investments to Meet the Growing Power Demand Will Drive the Segment
9.3 Industries
9.3.1 Advantages Such as Uninterrupted Power Supply and Fault Protection Will Drive the Segment
9.4 Infrastructure & Transportation
9.4.1 Growing Demand for Using Smart Distribution Networks to Drive the Segment

10 Ring Main Unit Market, by Voltage Rating
10.1 Introduction
10.2 Up to 15 kv
10.2.1 Increasing Commercial Establishments to Drive the Segment
10.3 16-25 Kv
10.3.1 Increasing Investments in Railways and Growing Usage in Small-Scale Industries to Drive the Segment
10.4 Above 25 kv
10.4.1 Growing Usage in Large-Scale Industries Will Drive Demand

11 Ring Main Unit Market, by Region
11.1 Introduction
11.2 Impact of Covid-19 on Global Ring Main Unit Market
11.3 North America
11.3.1 Impact of Covid-19 on North America
11.3.1.1 US
11.3.1.1.1 Modernization of Aging Infrastructure is Expected to Boost the Ring Main Unit Demand in the US
11.3.1.2 Canada
11.3.1.2.1 Increasing Investments in Wind Energy to Foster the Ring Main Unit Demand in Canada
11.3.1.3 Mexico
11.3.1.3.1 Increasing Investments in Electric Power Infrastructure and Focus on Renewable Power Generatio to Boost the Demand in Mexico
11.4 Europe
11.4.1 Impact of Covid-19 on Europe
11.4.1.1 Germany
11.4.1.1.1 Growth in Economy and Sustainable Growth in the Renewable Sector to Boost the Market in Germany
11.4.1.2 France
11.4.1.2.1 Growth in Renewable Energy Consumption to Drive the Ring Main Unit Market in France
11.4.1.3 UK
11.4.1.3.1 Increase in T&D Investments and Clean Energy Targets Drive the Market in the UK
11.4.1.4 Rest of Europe
11.5 Asia-Pacific
11.5.1 Impact of Covid-19 on Asia-Pacific
11.5.1.1 India
11.5.1.1.1 Renovating Existing Power Plants and Expanding Power Capacity Might Fuel the Demand for Ring Main Units in India
11.5.1.2 Japan
11.5.1.2.1 Focus on the Rebuilding of Power Grids and Substations Might Drive the Ring Main Unit Demand in the Country
11.5.1.3 China
11.5.1.3.1 Shift Toward Unconventional Resources of Energy to the Renewables Likely to Create Growth Opportunities in the Country
11.5.1.4 Malaysia
11.5.1.4.1 Efforts to Reduce Co2 Emissions by Diversifying Electricity Fuel Mix to Drive the Market in Malaysia
11.5.1.5 South Korea
11.5.1.5.1 Government Initiative Toward Power Generation Through Renewable Energy Sources Might Drive the South Korean Ring Main Unit Market
11.5.1.6 Rest of Asia-Pacific
11.6 Middle East
11.6.1 Impact of Covid-19 on the Middle East
11.6.1.1 Saudi Arabia
11.6.1.1.1 Investment in Power Projects is Expected to Drive the Market in Saudi Arabia
11.6.1.2 Uae
11.6.1.2.1 Growth in Infrastructure and Shift Toward Renewable Energy to Fuel the Demand in the Uae
11.6.1.3 Kuwait
11.6.1.3.1 Rise in Demand for Electricity to Boost the Demand in Kuwait
11.6.1.4 Qatar
11.6.1.4.1 Growth in Investments in the Renewable Sector is Likely to Drive Qatar'S Market
11.6.1.5 Rest of the Middle East
11.7 Africa
11.7.1 Impact of Covid-19 on Africa
11.7.1.1 South Africa
11.7.1.1.1 Increasing Electricity Demand & Investments in the Power Sector to Drive the South African Market
11.7.1.2 Egypt
11.7.1.2.1 Government Initiative to Expand Power Generation Capacity is Likely to Bring Ring Main Unit Demand in the Country
11.7.1.2.2 Rest of Africa
11.8 South America
11.8.1 Impact of Covid-19 on South America
11.8.1.1 Brazil
11.8.1.1.1 Modernization of Existing Power Infrastructure and High Electricity Demand in the Country to Increase Demand for Ring Main Units
11.8.1.2 Argentina
11.8.1.2.1 Increasing Renewable Energy Capacity to Foster the Demand in Argentina
11.8.1.3 Rest of South America

12 Competitive Landscape
12.1 Overview
12.2 Revenue Analysis of Top 5 Market Players
12.3 Market Evaluation Framework
12.4 Key Market Developments
12.4.1 New Product Launches
12.4.2 Investments & Expansions
12.4.3 Contracts & Agreements
12.4.4 Mergers & Acquisitions

13 Company Evaluation Matrix and Company Profiles
13.1 Company Evaluation Matrix Definitions and Methodology
13.1.1 Star
13.1.2 Innovators
13.1.3 Pervasive
13.1.4 Emerging Companies
13.2 Company Profile
13.2.1 Abb
13.2.2 Siemens
13.2.3 Eaton
13.2.4 Schneider Electric
13.2.5 Larsen & Toubro
13.2.6 Ls Electric
13.2.7 Lucy Electric
13.2.8 C&S Electric
13.2.9 Tiepco
13.2.10 Entec Electric & Electronic
13.2.11 Orecco Electric
13.2.12 Ormazabal
13.2.13 Natus
13.2.14 Alfanar
13.2.15 Wenzhou Rockwell Transformer
13.2.16 Yueqing Liyond Electric
13.2.17 China Transpowers Electric
13.2.18 Indkom Engineering
13.2.19 Hunan Electric Union
13.2.20 Swati Switchgears

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