NEW YORK, Feb. 18, 2016 /PRNewswire/ -- "The ring main unit market is projected to reach USD 2.03 billion by 2020."
The ring main unit market is expected to reach USD 2.03 billion by 2020, at a CAGR of 8.23% from 2015 to 2020. Modernization of existing power infrastructure and capacity addition & enhancement plans for distribution networks have been boosting the demand for ring main units. In addition, end-use industries are deploying ring main units in secondary distribution networks for uninterrupted power supply.
"Distribution utilities segment is the largest market, by application"
The distribution utilities segment is the largest application market. Ring main units are extensively used by companies for secondary distribution networks and to protect their critical instruments. Moreover, this segment is expected to exhibit the highest CAGR from 2015 to 2020. The usage of ring main units for integrated distributed generation with the central grid is likely to drive the distribution utilities market.
"Asia-Pacific is the fastest growing market"
Asia-Pacific is expected to have the largest market share and the highest growth rate during the forecast period. The region is expected to have extensive deployment of ring main units, and is one of the key markets for ring main unit manufacturers and suppliers. The Southeast Asian countries, such as Vietnam and Malaysia, are driving the market in the region. Meanwhile, rural electrification and smart cities are the key growth drivers of the Indian ring main unit market.
The primary participants for the report have been categorized on the basis of company type, designation, and region. The details are as follows:
- By Company Type: Tier 1 - 55%, Tier 2 – 20%, and Tier 3 – 25%
- By Designation: C level – 75% and Manager level – 25%
- By Region: Asia-Pacific – 40%, Europe – 20%, North America – 10%, and Rest of World – 30%
Solid dielectric ring main unit is one of the emerging types of ring main unit because of its environment-friendly usage, sustainability approach, and operational safety. This segment is expected to grow at the highest CAGR during the forecast period. This ring main unit is the best solution for operators looking for low carbon solutions. Asia-Pacific is a potential market for solid dielectric insulated ring main units.
List of companies profiled in the report include:
- ABB Ltd.
- Eaton Corporation Plc.
- General Electric Company
- Schneider Electric SE
- Siemens AG
- Entec Electric & Electronic Co. Ltd.
- Larsen & Toubro
- Lucy Electric
- Yashmun Engineers Ltd.
Why buy this report
The report offers market estimations and projections till 2020, and offers a complete study of the market dynamics. In addition, the report provides the competitive landscape with major growth strategies adopted by the key players.
Product Analysis and Development: Insights on upcoming technologies, research & development activities, and new product launches in the global ring main unit market. In-depth analysis of the deployment of ring main units in various regions depicts a clear picture of the market scenario.
Market Development: Includes information about lucrative emerging markets. The report also analyzes ring main unit markets across regions.
Market Diversification: Information about new products, untapped regions, recent developments, and investments decisions in the market. Description regarding related and unrelated diversification pertaining to this market.
Competitive Assessment: Assessment of market shares, and company share analysis of key players. Business strategies and manufacturing capabilities of leading players enhance the bottom-line of the companies in the ring main unit market.
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