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ENERGY & POWER

Smart Ring Main Unit (RMU) Market Segmentation by Type (Gas, Air, Oil, and Solid Dielectric); by Installation (Outdoor, and Indoor); and by End-User (Distribution Utilities, Industries, Infrastructure & Transportation, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • January 18, 2022: Eaton Corporation PLC to launch advanced intelligent power management UPS in North America market for power protection in IT environments.

  • August, 2020: Schneider Electric announced the opening of its First Smart Distribution Center in Mumbai, India.

Global Smart Ring Main Unit (RMU) Market Highlights over 2022 – 2031

The global smart ring main unit (RMU) market is estimated to grow at a CAGR of ~10% over the forecast period, i.e., 2022 – 2031. Smart RMU has various features, such as, wireless thermal sensors, and smartphone connectivity, that allows the optimization of modern grid applications. The growth of the market can be attributed to increasing amalgamation of automation with electronic devices and systems. Ring main unit is a vital part at the substation level, which is why, increasing adoption of substation automation is certain to boost the adoption of smart RMU. Along with this, the increasing investment in the power distribution sector, is further estimated to boost the market growth. Furthermore, the increasing demand for electricity and the rising government investment in electricity generation projects is also estimated to play a crucial role in the market growth. According to the data by International Energy Agency (IEA), the global electricity demand was expected to increase by 4.5% in 2021. 

Smart Ring Main Unit (RMU) Market

The market is segmented 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 requirements backed by rising global population and fast-track urbanization. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Major Macro-Economic Indicators Impacting the Market Growth

In 2019, the world’s total energy supply was 606EJ, wherein the highest share in terms of source was captured by oil, accounting for 30.9%, followed by coal (26.8%), natural gas (23.2%), biofuels and waste (9.4%), nuclear (5.0%), hydro (2.5%), and other (2.2%). Where there was an increase in energy demand in 2018, the year 2019 witnessed slow growth as the energy efficiency improved owing to decline in the demand for cooling and heating. However, in 2020, the electricity demand decreased by 1% due to the outbreak of Coronavirus resulting in government imposed shutdowns in order to limit the spread of the virus, which was further followed by shutdown of numerous business operations impacting their growth. This also resulted in decline of 5.8% in the worldwide CO2 emissions which was recorded to be five times larger than the one recorded during the global financial crisis in 2009. However, in 2021, the demand for oil, gas and coal is estimated to witness growth, which is further projected to create opportunities for market growth. Moreover, rising environment degradation and awareness related to climate change is motivating many key players to employ sustainable energy strategies and invest significantly in environment-friendly power generation technologies with an aim to promote sustainable development among various nations around the world. Such factors are anticipated to promote the growth of the market in upcoming years.

Global Smart Ring Main Unit (RMU) Market Regional Synopsis

On the basis of geographical analysis, the global smart ring main unit (RMU) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of growing demand for electricity in the developing countries. As per the data by the IEA, electricity demand in India and China is collectively expected to rise by 8%, as compared to the 2020 levels.

The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the rising demand for smart power infrastructure, growing adoption of renewable energy, and increasing demand for electricity. Moreover, growing government investment for development of renewable resources of energy in the region, is estimated to boost the market growth. 

Smart Ring Main Unit (RMU) market Share

The global smart ring main unit (RMU) market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

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

By Type

  • Gas
  • Air
  • Oil
  • Solid Dielectric

By Installation

  • Outdoor
  • Indoor

By End-User

  • Distribution Utilities
  • Industries
  • Infrastructure & Transportation
  • Others

Growth Drivers

  • Increasing Optimization of Application for Modern Grids
  • Growing Demand for Electricity Globally

Challenges

  • Higher Cost of Smart RMUs

Top Featured Companies Dominating the Market

  • AMETEK, Inc.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • ABB Ltd.
  • Schneider Electric SE
  • Siemens AG
  • Toshiba Corporation
  • Larsen & Toubro Ltd.
  • Cisco Systems, Inc.
  • Eaton Corporation PLC
  • General Electric Company
  • Lucy Electric Ltd.

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