Smart Ring Main Unit Market Size & Share, by Type (Gas-Insulated, Air-Insulated, Oil-Insulated, Solid Dielectric); Installation (Outdoor, Indoor); End-user (Distribution Utilities, Industries, Infrastructure, Transportation) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

 Global Smart Ring Main Unit Market Definition

The ring main unit is a switch gear set of a power distribution system. It is a vital part of the medium voltage power distribution. Smart features of SRMU, such as wireless thermal sensors, and smartphone connectivity, allow the optimization of modern grid applications.  The RMU enables the connection of all the loads of the distribution network in ring type. Starting from the primary substation, when all the transformers and the equipment connected are in ring type, it provides power redundancy and ensures that the power is always available in case of failure in any part of the network. It also enables the isolation of any faulty network without any downtime and without affecting the other transformers.

There are basic two configurations of ring main unit (RMU):

• Triangular-Ring Main Unit (TRM) - Tri-Ring main units have three terminals. Two terminals for the incomer and one outgoing terminal for transformer connection. It is used for connecting one transformer only to the utility.
• Quadrilateral-Ring Main Unit (QRM) – Quadrilateral ring main unit is a ring main unit (RMU) with two outgoings, enabling the connection of two transformers, to the range network. It has four terminals, two terminals for incomer. The incomers can be manual disconnecting switches or motorized breakers. This enables the remote control of the RMU from the central utility office via RTU (Remote Terminal Unit).

The outgoing is connected to transformers and it has all the necessary protective functions to protect the transformers. The RMU is used for the redundancy of utility feeders and to provide an uninterruptable power supply. 

Global Smart Ring Main Unit Market: Key Insights

Global Smart Ring Main Unit Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global smart ring main unit market is estimated to garner a revenue of ~USD 5 Billion by the end of 2035 by growing at a CAGR of ~10% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 2 Billion in the year 2022. The growth of the market can be attributed to the increasing amalgamation of automation with electronic devices and systems, which has increased the prominence of electricity. The ring main unit is a vital part at the substation level, which is why, increasing the adoption of substation automation, is certain to boost the adoption of smart RMU. Furthermore, growing industrialization, and growing emphasis on renewable energy installations, are some major factors that are estimated to drive the growth of the global smart ring main unit market over the forecast period.  According to the data from International Energy Agency (IEA), electricity generation from renewables including hydropower, wind, and solar PV grew strongly around the world by 8% in 2021.

In addition to these, factors that are believed to fuel the market growth of smart ring main units include the increasing electricity demand, and the rising government investment in electricity generation projects is also estimated to play a crucial role in the market growth. For instance, in the fiscal year, 2022, the Indian government invested around USD 14 billion in Indian renewable energy generation.

Global Smart Ring Main Unit Market: Growth Drivers and Challenges

Growth Drivers

• Increasing Deployment of Smart Appliances – Technological advancements in electrical and electronic products, appliances with voice assistants, Bluetooth, and Wi-Fi connectivity, have led to increasing reliance on electric power for consumer electronics and increased demand for smart monitoring and digital controlling devices. For instance, over 470 million units of smart appliances and gadgets were used in 2020, and is estimated to reach around 120 billion by 2030.

• Increasing Investment in Industrial Infrastructure – Setting up industries requires complex electrical substations to fulfill their power requirements. Ring main unit facilitates switching gear equipment and maintains voltage fluctuations. Growing investment in industrial infrastructure is to propel the growth of the market. According to the reports, in 2021, Asian Development Bank, (ABD), approved around USD 200 million in loans to Indian Government, to support industrial development in the country. 

• Growing Demand for Renewable Energy – The growing concern over environmental safety and strict regulations of governments for reducing carbon emissions is increasing the demand for renewable energy. According to the International Energy Agency (IEA), from 2022-2027, renewable energy is estimated to grow by almost 2400 GW in the main forecast, 85% acceleration from the previous five years, and almost 30% higher than last year.

• Enhancement in Transmission Infrastructure – Improvement in transmission infrastructure is anticipated to give rise to smart power systems using switching capabilities such as ring main units. According to the International Energy Agency (IEA), global spending on transmission reached USD 90 billion in 2019.

• Growing Investment in Construction Industry - According to the reports, countries such as China, India, the US, and Indonesia are projected to account for around 57% of expected global growth in construction. The construction sector of India is expected to gross around USD 1.4 trillion by 2025.

Challenges

• High Cost of Smart Ring Main Unit – Technological advancements such as smart capabilities, safety, and performance have led to high investment costs in the smart ring main unit market. Therefore, the high cost of the smart ring main unit is estimated to hinder the growth of the market.
• Limitations on the Use of Greenhouse Gases
• High Competition from the Unorganized Sector

Global Smart Ring Main Unit Market Segmentation

The global smart ring main unit market is segmented and analyzed for demand and supply by type into gas-insulated, air-insulated, oil-insulated, and solid dielectric. Out of these segments of the smart ring main unit, the gas-insulated segment is estimated to gain the largest market share over the projected time frame. The growth of the segment can be attributed to its compact size, better functionality, and climatic resistance. The gas-insulated segment of the smart ring main unit has pertained in railways, mining, wind power plants, power grids, and underground installations. The gas-insulated ring main unit uses greenhouse gas as an insulation medium. According to the reports of the International Energy Agency (IEA), the quantum of electricity generated by wind increased by nearly 273 TWh in 2021 (over 17%), 45% more advanced growth in 2020. Wind-generated 1870 TWh in 2021 and remained the leading non-hydro renewable technology.

The global smart ring main unit market is also segmented and analyzed for demand and supply by end-user into distribution utilities, industries, infrastructure & transportation, and others, out of which, the distribution utilities segment is anticipated to hold the notable share in the global smart ring main unit (RMU) market over the forecast period on account of growing power generation technologies requirements backed by rising global population and fast-track urbanization.

Our in-depth analysis of the global smart ring main unit market includes the following segments:

Global Smart Ring Main Unit Market Regional Synopsis

The Asia Pacific smart ring main unit market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The growth of the market can be attributed majorly to the growing demand for electricity and industrialization projects in countries such as India, Japan, China, and others. According to the reports of the International Energy Agency (IEA), Japan is promoting innovation and new technologies such as next-generation solar cells and carbon recycling while ensuring a stable supply of energy by further enhancing energy efficiency, maximizing the introduction of renewable energies, as well as further advancing nuclear energy with the highest priority on safety while drastically changing Japan’s policies regarding coal-fired power generation. Furthermore, increasing urbanization and rapid industrialization are expanding the investment in industrial infrastructure in the region. Therefore, the surging investments in industries are also projected to further accelerate the regional growth of the smart ring main unit market. 

The North American smart ring main unit market, amongst the market in all the other regions, is projected to grow with the highest CAGR during the forecast period. The growth of the market can be attributed to the rising demand for smart power infrastructure, smart grid network, growing adoption of renewable energy, and increasing demand for electricity. Moreover, growing government investment in the development of renewable resources of energy in the region is estimated to boost the market growth. 

Top Featured Companies Dominating the Global Smart Ring Main Unit Market

• AMETEK, Inc.
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• ABB Ltd.
• Schneider Electric SE
• Siemens Aktiengesellschaft
• Toshiba Corporation
• Larsen & Toubro Limited
• Cisco Systems, Inc.
• Eaton Corporation plc
• General Electric Company
• Ormazabal Electric, S.L.U.