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Opportunity For Ring Main Unit Market To Reach $2.45 Billion By 2022

By Author: Akshay
Total Articles: 138

The global ring main unit market is projected to grow at a CAGR of 8.35% from 2017 to 2022. In 2016, Asia-Pacific was estimated to be the largest market for ring main unit, followed by Europe and North America. This trend is expected to continue till 2022. The growth of the ring main unit market is driven by modernization of existing power infrastructure and smart distribution networks.
The ring main unit market is dominated by a few global players which includes ABB, Ltd. (Switzerland), Schneider Electric SE (France), Eaton Corporation PLC (Ireland), Siemens AG (Germany), and General Electric Company (U.S.).
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Major strategies adopted by players in the ring main unit market include contracts & agreements, expansions, new product developments, and mergers & acquisitions. Contracts & agreements were the most commonly adopted strategy from 2013 to 2017 and accounted for more than 58.1% of the total market share. Industry players also adopted expansions, which was the second most widely followed strategy from 2013 to 2017.
ABB, Ltd. is a technological leader in electrical products, which caters to a wide range of industries such as transmission, distribution, renewable generation, utilities, industry, marine, and oil & gas among others. It conducts its business through four segments, namely, power grids, industrial automation, robotics & motion, and electrification products.
The report segments the ring main unit market on the basis of application into distribution utilities, industries, and infrastructure & transportation. The distribution utilities sub-segment accounted for the largest market share in 2016. This segment is also expected to witness the highest CAGR during the forecast period, due to increasing investments in the power sector in Asia-Pacific to augment generation capacities to meet the growing power demand in the region.
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Eaton is a diversified power management company that is driven by five business groups, namely, electrical products, electrical systems & services, hydraulics, aerospace, and vehicle segments. The company provides ring main units under its medium voltage switchgear segment of its electrical products and electrical systems & services division. 
Key questions

Which key players have strong advantage on price? Who are the key contenders in the unorganized market?
Which are the new opportunity areas and what are the best sales channels to gain a quick entry?
Which industry segments have simpler buying process, and which vertical are switching their existing switching solutions to RMUs?

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