Flourishing “Green Energy Projects” to boost ring main unit demand
Global ring main unit market share is likely to be amplified by the growing investment towards the development of infrastructure and power grid networks. As per the Council on Foreign Relations, the U.S. government proposed an infrastructure investment plan of US$2 trillion in March 2021. The investment includes hundreds of billions for the modernization of electrical grid and the upgradation of physical infrastructures such as railways, airports, water systems, and others across the nation.
With extensive infrastructure activities, the growing requirements of electricity are expected to boost the mass deployment of ring main units (RMUs) for uninterrupted power supply distribution. According to Global Market Insights, Inc., the global ring main unit market size is predicted to surpass US$3 billion by 2024.
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Rapid urbanization, digital transformation, and increased adoption of modern electronics have significantly accelerated the demand for electricity in recent years. To fulfill surging power requirements and tackle the complexities of electrical networks, there is a growing urgency to integrate electrical protection and control systems.
The indoor ring main unit segment is predicted to witness considerable market share by 2024, owing to the rising demand for uninterrupted electricity from the commercial and real estate sectors. High power load, space constraint, and complexity in power networks significantly complement the deployment of indoor RMU. Moreover, easy installation, enhanced safety, low maintenance cost are some major factors propelling indoor RMU market share.
Compact secondary substations, small industries, wind & solar power plants, hotels, residential housing complexes, office buildings, shopping & business centers, airports, and hospitals are among some major installation areas of ring main units. High-end compact design, enhanced safety & performance, cost & time-effective installation, easy integration with distribution management system and smart grid solutions are some prominent advantages of RMU.
Strong impact of electricity access projects in Asia Pacific
Asia Pacific ring main unit industry is anticipated to grow at a steady pace through 2024, owing to the rising government efforts to uplift the existing power network and provide electricity access to people. For example, the Government of India under its ‘Saubhagya Scheme’ provided electricity access to over 99% of the total population in 2019. The scheme was launched with an aim to accomplish 100% electricity access in the nation
Increasing government initiatives under several ‘Green Energy Projects’ across the globe to scale up the grid-connected electricity generation from renewables should positively influence the deployment of RMUs to a large extent.
For example, In November 2020, Sungrow confirmed that the two solar PV projects of Total Eren in Kazakhstan were reinforced with 95 MWac of 1500 V medium-voltage central inverter solutions. The solutions offered by Sungrow included RMUs and auxiliary devices, along with other key components.
Ormazabal, Schneider, Eaton, Crompton Greaves, Siemens, Lucy Electric, L&T Electrical and Automation, TIEPCO, LSIS Co., Entec Electric, C&S Electric Limited, ABB, and, General Electric are some of the notable companies of the ring main unit industry. These firms are also focusing on partnerships, acquisitions, and new product development to lead the competitive market landscape.
For instance, Siemens Smart Infrastructure in April 2021, introduced its new 8DJH 24 switchgear (RMU) for line voltages of up to 24kV, which is completely free of fluorinated gases. This switchgear uses “Clean Air”, a climate-neutral insulation medium that exclusively consists of natural components from ambient air. This product launch will enable Siemens to gain a significant competitive edge over its competitors and enhance its market share.
