リングメインユニット市場 : 2029年までの世界予測

Report Overview

The global market for Ring main unit is poised for substantial growth, with a projected trajectory reaching USD 3.4 billion by the year 2029.

リングメインユニット市場は大幅な成長を遂げており、2029 年までに 34 億米ドルに達すると予測されています。

This represents a noteworthy increase from the estimated value of USD 2.5 billion in 2024, reflecting a steady Compound Annual Growth Rate (CAGR) of 5.7% over the period spanning from 2024 to 2029.

The ring main unit (RMU) market is driven by several key factors. The rising demand for reliable and uninterrupted power supply, fueled by increasing urbanization and industrialization, is a primary driver. Additionally, the growing global electricity consumption due to population growth necessitates the expansion and modernization of power distribution infrastructure. The integration of renewable energy sources like solar and wind power into existing grids also boosts the demand for RMUs, as they facilitate efficient and flexible grid management. Significant investments in upgrading aging power grids further propel the market, with a notable focus on developing regions such as Asia-Pacific. Advancements in smart grid technologies and the widespread adoption of intelligent electronic devices enhance the functionality and appeal of RMUs, contributing to their increased demand across various sectors.

“The distribution utilities segment, by application, to be fastest growing market from 2024 to 2029.”
The distribution utilities segment is projected to be the fastest-growing market for ring main units (RMUs) from 2024 to 2029 due to several compelling factors. Primarily, the escalating global demand for electricity, driven by rapid urbanization and industrial expansion, necessitates robust and reliable power distribution systems. Distribution utilities are at the forefront of upgrading and expanding their infrastructure to meet this rising demand, ensuring uninterrupted and efficient power delivery to end-users. Additionally, significant investments in modernizing aging power grids, particularly in developing regions, further fuel this growth. The integration of renewable energy sources into the grid, which requires advanced RMUs for effective management and stability, also plays a crucial role. Furthermore, the increasing focus on smart grid technologies and digitalization within the utilities sector enhances the adoption of RMUs, as these units are essential for improving grid resilience, flexibility, and efficiency. This convergence of factors positions the distribution utilities segment as a key driver of the RMU market’s expansion during the forecast period.

“Outdoor installation: The fastest-growing segment of the ring main unit market based on installation.”
The outdoor installation segment is expected to be the fastest-growing sector of the ring main unit (RMU) market due to several key factors. Firstly, the need for expanding and upgrading power distribution networks in both urban and rural areas is driving the demand for RMUs that can be installed outdoors. These units are crucial for enhancing the reliability and efficiency of power supply in diverse environmental conditions, making them ideal for outdoor settings. Additionally, outdoor RMUs are designed to withstand harsh weather conditions and provide robust performance with minimal maintenance, which is essential for remote and hard-to-access locations. The rapid growth of renewable energy projects, such as wind and solar farms, further boosts the demand for outdoor RMUs, as these installations often require reliable and weather-resistant units to integrate renewable energy sources into the grid effectively. Furthermore, increasing investments in infrastructure development, particularly in developing regions, and the focus on smart grid implementation and rural electrification projects contribute significantly to the expansion of the outdoor installation segment. These factors collectively underscore the accelerated growth of outdoor RMU installations in the global market.

“Asia Pacific to be largest and fastest growing region in ring main unit market.”
Asia Pacific is poised to emerge as both the largest and fastest-growing region in the ring main unit (RMU) market, driven by several compelling factors. Firstly, the region is witnessing rapid industrialization and urbanization, leading to a surge in electricity demand for residential, commercial, and industrial purposes. This escalating demand necessitates the expansion and modernization of power distribution networks, wherein RMUs play a pivotal role in ensuring efficient and reliable electricity supply. Moreover, Asia Pacific governments are increasingly investing in infrastructure development, including the enhancement of electrical grids, to support economic growth and meet the needs of growing populations. Additionally, the region’s commitment to renewable energy adoption, driven by environmental concerns and energy security, fuels the demand for RMUs for integrating renewable energy sources into the grid. Furthermore, initiatives aimed at rural electrification and improving energy access contribute to the growing deployment of RMUs across diverse geographical and socioeconomic landscapes in the region. The convergence of these factors positions Asia Pacific as a key market for RMUs, with substantial growth opportunities both in terms of market size and expansion rate in the coming years.

Breakdown of Primaries:
Significant qualitative and quantitative data, as well as future market prospects, were confirmed through in-depth interviews with subject-matter experts, C-level executives of major market players, industry consultants, and other specialists. The following is how the main interviews were dispersed:
By Company Type: Tier 1: 65%, Tier 2: 24%, and Tier 3: 11%
By Designation: C-level: 30%, Directors: 25%, and Others: 45%
By Region: North America: 33%, Europe: 27%, Asia Pacific: 20%, South America: 12%, the Middle East & Africa: 8%.
Note: “Others” include sales managers, engineers, and regional managers
The tiers of the companies are defined based on their total revenue as of 2022: Tier 1: >USD 1 billion, Tier 2: USD 500 million–1 billion, and Tier 3: <USD 500 million.

There are a few major players in the ring main unit market that are well-established throughout the region. ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider Electric (France), Lucy Electric (UK), CG Power and Industrial Solutions (India), and a few other companies are the market leaders for ring main units.

Research Coverage:
The global ring main unit market is defined, explained, and forecasted in this report based on insulation type, installation, voltage rating, structure, and application. The study offers a thorough analysis of the main market factors, opportunities, obstacles, and restraints. It also discusses a number of significant market facets. These comprise an examination of the market’s competitive environment, market dynamics, value-based market estimates, and potential future developments in the ring main unit market.

Key Benefits of Buying the Report
The Ring main unit market report has been carefully crafted to cater to the requirements of both seasoned industry veterans and recent entrants. It is an indispensable tool for stakeholders seeking to gain a comprehensive understanding of the competitive landscape because it offers accurate revenue projections for the market as a whole as well as its numerous sub-segments. Stakeholders can use this information to create market strategies that work for their companies. Furthermore, by providing essential insights into the drivers, constraints, challenges, and growth opportunities, the report is a crucial tool for stakeholders to understand the state of the market today. Stakeholders can stay informed and adapt to the dynamically changing Ring main unit industry with the help of these insights.

• Analysis of key drivers (Increased Demand for Reliable Power, Integration of Renewable Energy, Focus on Infrastructure Development), restraints (High Initial Investment, Regulations restricting SF6 gas emissions), opportunities (Smart Grid Integration, Digitalization, Growing Demand for Automation), and challenges (High competition from unorganized sector) influencing the growth of the ring main unit market.

• Product Development/ Innovation: Product development and innovation play pivotal roles in shaping the ring main unit (RMU) market landscape. Manufacturers are continually investing in research and development initiatives to introduce advanced RMU solutions that meet evolving customer needs and regulatory requirements. Key areas of innovation include the development of compact and eco-friendly RMUs, integration with smart grid technologies for enhanced monitoring and control capabilities, and the use of alternative insulation materials to address environmental concerns. Moreover, advancements in digitalization, such as the incorporation of Internet of Things (IoT) capabilities and predictive maintenance features, are transforming RMUs into intelligent and efficient components of modern power distribution networks. These innovations not only improve the performance and reliability of RMUs but also offer opportunities for differentiation and competitive advantage in the market. As utilities and industries seek more reliable and sustainable power distribution solutions, product development and innovation will continue to drive growth and expansion in the RMU market.

• Market Development: Market development in the ring main unit (RMU) market involves expanding into new geographic regions or segments to drive growth. This strategy entails identifying untapped opportunities in emerging markets, such as Asia-Pacific and Latin America, where increasing urbanization, industrialization, and infrastructure development create demand for reliable power distribution solutions. Additionally, market development efforts may target niche segments within existing markets, such as renewable energy integration or rural electrification projects, leveraging technological advancements and tailored solutions to address specific customer needs. By focusing on market development initiatives, RMU manufacturers can diversify their customer base, mitigate risks associated with mature markets, and capitalize on emerging opportunities for sustained growth and market expansion.

• Market Diversification: Market diversification in the ring main unit (RMU) market involves expanding product offerings and exploring new market segments to reduce reliance on traditional markets and mitigate risks. This strategy entails developing RMUs with varying specifications, such as voltage ratings, insulation types, and applications, to cater to diverse customer needs. Additionally, targeting emerging markets in regions like Asia Pacific and Latin America, where rapid industrialization and urbanization drive electricity demand, presents opportunities for growth. Furthermore, exploring niche markets, such as renewable energy integration and smart grid applications, can diversify revenue streams and enhance market resilience. By embracing market diversification strategies, RMU manufacturers can strengthen their competitive position, mitigate market volatility, and capitalize on new growth avenues in the evolving electrical distribution landscape.

• Competitive Assessment: In the competitive landscape of the ring main unit (RMU) market, several key players vie for market share through strategies such as product innovation, partnerships, and geographic expansion. Established industry giants like ABB (Switzerland), Siemens (Germany), Eaton (Ireland), Schneider Electric (France), Lucy Electric (UK), CG Power and Industrial Solutions (India) dominate the market with their extensive product portfolios, global presence, and strong brand reputation. These companies continually invest in research and development to enhance their RMU offerings, focusing on features like compact design, eco-friendliness, and advanced smart grid integration capabilities. Additionally, partnerships with utility providers and strategic acquisitions allow them to expand their market reach and penetrate emerging markets effectively. Alongside these industry leaders, smaller regional players and new entrants also play a significant role, offering niche solutions and catering to specific customer segments. Intense competition among these players fosters innovation and drives continuous improvements in RMU technology, ultimately benefiting consumers by offering a wide range of options to meet their diverse requirements.

Table of Contents

1            INTRODUCTION            34

1.1         STUDY OBJECTIVES      34

1.2         MARKET DEFINITION   34

1.3         STUDY SCOPE  35

1.3.1      MARKETS COVERED     35

FIGURE 1           RING MAIN UNIT MARKET SEGMENTATION      35

1.3.2      INCLUSIONS AND EXCLUSIONS 36

TABLE 1             INSULATION TYPE: INCLUSIONS AND EXCLUSIONS      36

TABLE 2             INSTALLATION: INCLUSIONS AND EXCLUSIONS            36

TABLE 3             STRUCTURE: INCLUSIONS AND EXCLUSIONS    36

TABLE 4             POSITION: INCLUSIONS AND EXCLUSIONS        37

TABLE 5             END USER: INCLUSIONS AND EXCLUSIONS        37

TABLE 6             VOLTAGE RATING: INCLUSIONS AND EXCLUSIONS       37

TABLE 7             REGION: INCLUSIONS AND EXCLUSIONS           38

1.3.3      REGIONAL SCOPE         38

1.3.4      YEARS CONSIDERED     39

1.4         CURRENCY CONSIDERED          39

1.5         UNITS CONSIDERED     39

1.6         LIMITATIONS   39

1.7         STAKEHOLDERS            40

1.8         SUMMARY OF CHANGES            40

1.9         RECESSION IMPACT      41

2            RESEARCH METHODOLOGY     42

2.1         RESEARCH DATA           42

FIGURE 2           RING MAIN UNIT MARKET: RESEARCH DESIGN 42

2.2         DATA TRIANGULATION             43

2.2.1      SECONDARY AND PRIMARY RESEARCH 44

2.2.2      SECONDARY DATA       44

2.2.2.1   List of key secondary sources           45

2.2.2.2   Key data from secondary sources     45

2.2.3      PRIMARY DATA 46

2.2.3.1   Breakdown of primaries     46

2.2.3.2   Key data from primary sources         47

2.2.3.3   Key industry insights          48

2.2.3.4   List of major primary interview participants   48

2.2.3.5   Intended participants and key opinion leaders in primary interviews        48

2.3         RESEARCH SCOPE         49

2.4         MARKET SIZE ESTIMATION       49

2.4.1      BOTTOM-UP APPROACH           49

FIGURE 3           MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH       50

2.4.2      TOP-DOWN APPROACH             50

FIGURE 4           MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH       50

2.4.3      DEMAND-SIDE ANALYSIS           51

FIGURE 5           PARAMETERS CONSIDERED TO ASSESS DEMAND FOR RING MAIN UNITS      51

2.4.3.1   Approach to estimate market size using demand-size analysis    51

2.4.3.2   Demand-side assumptions 52

2.4.4      SUPPLY-SIDE ANALYSIS             52

FIGURE 6           KEY METRICS CONSIDERED FOR ASSESSING SUPPLY OF RING MAIN UNITS      52

FIGURE 7           MARKET SIZE ESTIMATION METHODOLOGY: SUPPLY-SIDE ANALYSIS: ILLUSTRATION OF REVENUE ESTIMATIONS FOR TOP PLAYER IN RING MAIN UNIT MARKET         53

2.4.4.1   Approach to estimate market size using supply-side analysis      53

2.4.4.2   Supply-side assumptions    54

2.5         FORECAST        54

2.5.1      IMPACT OF RECESSION 54

2.6         RESEARCH ASSUMPTIONS         55

2.6.1      RESEARCH LIMITATIONS           56

2.6.2      RISK ASSESSMENT         56

3            EXECUTIVE SUMMARY 57

TABLE 8             RING MAIN UNIT MARKET SNAPSHOT  57

FIGURE 8           ASIA PACIFIC TO REGISTER HIGHEST CAGR IN RING MAIN UNIT MARKET DURING FORECAST PERIOD      58

FIGURE 9           GAS-INSULATED SEGMENT TO LEAD MARKET IN 2029  59

FIGURE 10         OUTDOOR SEGMENT TO RECORD HIGHER CAGR DURING FORECAST PERIOD       59

FIGURE 11         UP TO 15 KV SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD       60

FIGURE 12         NON-EXTENSIBLE SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2024 60

FIGURE 13         DISTRIBUTION UTILITIES SEGMENT TO DOMINATE MARKET IN 2029 61

FIGURE 14         3-POSITION SEGMENT TO LEAD MARKET IN 2029          61

4            PREMIUM INSIGHTS      62

4.1         ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN RING MAIN UNIT MARKET            62

FIGURE 15         GROWING SHIFT TOWARD RENEWABLE ENERGY SOURCES TO DRIVE MARKET 62

4.2         RING MAIN UNIT MARKET, BY REGION 62

FIGURE 16         ASIA PACIFIC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD       62

4.3         RING MAIN UNIT MARKET IN ASIA PACIFIC, BY END USER AND COUNTRY         63

FIGURE 17         DISTRIBUTION UTILITIES AND CHINA DOMINATED MARKET IN ASIA PACIFIC IN 2023              63

4.4         RING MAIN UNIT MARKET, BY INSULATION TYPE          63

FIGURE 18         GAS-INSULATED SEGMENT TO DOMINATE MARKET IN 2029              63

4.5         RING MAIN UNIT MARKET, BY INSTALLATION 64

FIGURE 19         OUTDOOR SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE IN 2029  64

4.6         RING MAIN UNIT MARKET, BY VOLTAGE RATING          64

FIGURE 20         UP TO 15 KV SEGMENT TO CAPTURE LARGEST MARKET SHARE IN 2029  64

4.7         RING MAIN UNIT MARKET, BY STRUCTURE       64

FIGURE 21         NON-EXTENSIBLE SEGMENT TO DOMINATE MARKET IN 2029              64

4.8         RING MAIN UNIT MARKET, BY END USER           65

FIGURE 22         DISTRIBUTION UTILITIES SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029          65

4.9         RING MAIN UNIT MARKET, BY POSITION           65

FIGURE 23         3-POSITION SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE IN 2029  65

5            MARKET OVERVIEW     66

5.1         INTRODUCTION            66

5.2         MARKET DYNAMICS     67

FIGURE 24         RING MAIN UNIT MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES    67

5.2.1      DRIVERS            67

5.2.1.1   Increasing demand for reliable and resilient power grids            67

FIGURE 25         REGIONAL/COUNTRY-WISE DATA ON INVESTMENTS IN POWER GRIDS, 2015–2022           68

5.2.1.2   Integration of renewable energy into existing grid infrastructure 68

FIGURE 26         GLOBAL DATA ON INVESTMENTS IN CLEAN ENERGY AND FOSSIL FUELS, 2015–2023            69

FIGURE 27         DATA ON RENEWABLE ELECTRICITY CAPACITY, 2016–2022              70

5.2.2      RESTRAINTS     70

5.2.2.1   Environmental concerns associated with RMUs           70

TABLE 9             GLOBAL WARMING POTENTIAL OF GREENHOUSE GASES (100-YEAR TIME HORIZON)  71

5.2.2.2   Volatile raw material prices 71

5.2.2.3   Limited land availability    72

5.2.2.4   High expenses associated with retrofitting existing RMUs          72

5.2.3      OPPORTUNITIES           73

5.2.3.1   Benefits of integrating RMUs with distribution management system        73

5.2.3.2   Government-led initiatives to boost adoption of smart RMUs    73

5.2.3.3   Growing use of smart technologies to transform power distribution         74

5.2.3.4   Ongoing digitalization of electricity sector     74

FIGURE 28         GLOBAL DATA ON INVESTMENTS IN ENERGY, 2015–2023              75

5.2.4      CHALLENGES   75

5.2.4.1   High initial investment in smart RMUs          75

5.3         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 76

FIGURE 29         TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES              77

5.4         ECOSYSTEM ANALYSIS 77

FIGURE 30         ECOSYSTEM ANALYSIS: RING MAIN UNIT MARKET        77

TABLE 10           ROLES OF COMPANIES IN RING MAIN UNIT ECOSYSTEM              78

5.5         PRICING ANALYSIS        79

5.5.1      INDICATIVE PRICING TREND, BY VOLTAGE RATING     79

TABLE 11           INDICATIVE PRICING TREND, BY VOLTAGE RATING (USD)              79

5.5.2      AVERAGE SELLING PRICE TREND OF RING MAIN UNIT, BY REGION              79

TABLE 12           AVERAGE SELLING PRICE TREND OF RING MAIN UNIT, BY REGION, 2020–2024 (USD)          79

FIGURE 31         AVERAGE SELLING PRICE TREND OF RING MAIN UNIT, BY REGION, 2020–2024 (USD)          80

5.6         SUPPLY CHAIN ANALYSIS          80

FIGURE 32         RING MAIN UNIT MARKET: SUPPLY CHAIN ANALYSIS   80

5.7         TECHNOLOGY ANALYSIS           81

5.7.1      KEY TECHNOLOGIES    81

5.7.1.1   Vacuum technology           81

5.7.2      COMPLEMENTARY TECHNOLOGIES     82

5.7.2.1   Smart RMUs        82

5.8         INVESTMENT AND FUNDING SCENARIO            83

FIGURE 33         INVESTMENT AND FUNDING SCENARIO            83

5.9         KEY CONFERENCES AND EVENTS, 2024–2025     83

TABLE 13           RING MAIN UNIT MARKET: LIST OF CONFERENCES AND EVENTS             83

5.10       TARIFF AND REGULATORY LANDSCAPE            84

5.10.1    TARIFF ANALYSIS          84

TABLE 14          IMPORT TARIFF FOR HS CODE 853690-COMPLIANT PRODUCTS, 2023      84

TABLE 15           IMPORT DATA FOR HS 853590 CODE-COMPLIANT PRODUCTS, 2023      85

5.10.2    REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS          86

TABLE 16           NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         86

TABLE 17           EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         87

TABLE 18           ASIA PACIFIC: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         88

TABLE 19           ROW: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS         89

5.10.3    CODES AND REGULATIONS      89

TABLE 20           GLOBAL REGULATIONS AND STANDARDS RELATED TO RING MAIN UNIT TECHNOLOGY        89

5.11       TRADE ANALYSIS          91

5.11.1    IMPORT DATA (HS CODE 853590)           91

TABLE 21           IMPORT DATA FOR HS CODE 853590-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD) 91

FIGURE 34         IMPORT DATA FOR HS CODE 853590-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD) 92

5.11.2    EXPORT DATA (HS CODE 853590)           92

TABLE 22           EXPORT DATA FOR HS CODE 853590-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD) 93

FIGURE 35         EXPORT DATA FOR HS CODE 853590-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD) 94

5.11.3    IMPORT DATA (HS CODE 853690)           94

TABLE 23           IMPORT DATA FOR HS CODE 853690-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD) 94

FIGURE 36         IMPORT DATA FOR HS CODE 853690-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD) 95

5.11.4    EXPORT DATA (HS CODE 853690)           95

TABLE 24           EXPORT DATA FOR HS CODE 853690-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD) 96

FIGURE 37         EXPORT DATA FOR HS CODE 853690-COMPLIANT PRODUCTS, BY COUNTRY, 2021–2023 (USD) 97

5.12       PATENT ANALYSIS        97

FIGURE 38         NUMBER OF PATENTS APPLIED AND GRANTED FOR RING MAIN UNITS, 2014–2023 97

TABLE 25           LIST OF APPLIED/GRANTED PATENTS RELATED TO RING MAIN UNITS, 2021–2024 98

5.13       PORTER’S FIVE FORCES ANALYSIS         101

FIGURE 39         RING MAIN UNIT MARKET: PORTER’S FIVE FORCES ANALYSIS              102

TABLE 26           RING MAIN UNIT MARKET: PORTER’S FIVE FORCES ANALYSIS              102

5.13.1    THREAT OF SUBSTITUTES         103

5.13.2    BARGAINING POWER OF SUPPLIERS     103

5.13.3    BARGAINING POWER OF BUYERS           103

5.13.4    THREAT OF NEW ENTRANTS    103

5.13.5    INTENSITY OF COMPETITIVE RIVALRY 104

5.14       KEY STAKEHOLDERS AND BUYING CRITERIA    104

5.14.1    KEY STAKEHOLDERS IN BUYING PROCESS         104

FIGURE 40         INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS, BY END USER    104

TABLE 27           INFLUENCE OF KEY STAKEHOLDERS ON BUYING PROCESS, BY END USER (%)  105

5.14.2    BUYING CRITERIA         105

FIGURE 41         KEY BUYING CRITERIA, BY END USER    105

TABLE 28           KEY BUYING CRITERIA, BY END USER    105

5.15       CASE STUDY ANALYSIS 106

5.15.1    LS ELECTRIC OFFERED RENEWABLE PROJECTS AEGIS 36-RING MAIN UNIT TO ENSURE RELIABILITY AND COST-EFFICIENCY 106

5.15.2    SÜC COBURG PROVIDED ABB WITH SAFERING AIRPLUS RMUS TO BOOST POWER RELIABILITY     106

5.15.3    SCHNEIDER ELECTRIC PROVIDED UTILITY COMPANY WITH RM6 SERIES GAS-INSULATED RMUS TO IMPROVE NETWORK MANAGEMENT              106

6            RING MAIN UNIT MARKET, BY POSITION           108

6.1         INTRODUCTION            109

FIGURE 42         3-POSITION SEGMENT ACCOUNTED FOR LARGEST MARKET SHARE IN 2023  109

TABLE 29           RING MAIN UNIT MARKET, BY POSITION, 2020–2023 (USD MILLION)          109

TABLE 30           RING MAIN UNIT MARKET, BY POSITION, 2024–2029 (USD MILLION)          110

6.2         3-POSITION      110

6.2.1      BUILT-IN DIAGNOSTICS FEATURE FOR PROACTIVE PERFORMANCE MONITORING TO FUEL MARKET GROWTH       110

6.3         6-POSITION      110

6.3.1      ABILITY TO CONTROL ELECTRICAL POWER DISTRIBUTION IN MEDIUM TO HIGH-VOLTAGE ENVIRONMENTS TO DRIVE DEMAND      110

6.4         OTHERS             111

7            RING MAIN UNIT MARKET, BY INSULATION TYPE          112

7.1         INTRODUCTION            113

FIGURE 43         GAS-INSULATED SEGMENT DOMINATED MARKET IN 2023              113

TABLE 31           RING MAIN UNIT MARKET, BY INSULATION TYPE, 2020–2023 (USD MILLION) 113

TABLE 32           RING MAIN UNIT MARKET, BY INSULATION TYPE, 2024–2029 (USD MILLION) 114

7.2         GAS-INSULATED           114

7.2.1      GROWING DEMAND FOR HIGH DIELECTRIC STRENGTH IN MEDIUM-AND HIGH-VOLTAGE APPLICATIONS TO FUEL SEGMENTAL GROWTH 114

TABLE 33           GAS-INSULATED: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)     115

TABLE 34           GAS-INSULATED: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)     115

7.3         AIR-INSULATED             115

7.3.1      RISING NEED TO REDUCE CARBON FOOTPRINTS TO DRIVE MARKET              115

TABLE 35           AIR-INSULATED: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)     116

TABLE 36           AIR-INSULATED: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)     116

7.4         OIL-INSULATED            116

7.4.1      ABILITY TO WITHSTAND HEAVY LOADS IN INDUSTRIAL SETTINGS TO STIMULATE MARKET GROWTH 116

TABLE 37           OIL-INSULATED: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)     117

TABLE 38           OIL-INSULATED: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)     117

7.5         SOLID DIELECTRIC       118

7.5.1      INCREASING DEMAND FOR LOW-MAINTENANCE AND ECO-FRIENDLY SOLUTIONS TO FOSTER MARKET GROWTH      118

TABLE 39           SOLID DIELECTRIC: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)          118

TABLE 40           SOLID DIELECTRIC: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)          119

8            RING MAIN UNIT MARKET, BY INSTALLATION 120

8.1         INTRODUCTION            121

FIGURE 44         INDOOR SEGMENT CLAIMED LARGER MARKET SHARE IN 2023              121

TABLE 41           RING MAIN UNIT MARKET, BY INSTALLATION, 2020–2023 (USD MILLION)          121

TABLE 42           RING MAIN UNIT MARKET, BY INSTALLATION, 2024–2029 (USD MILLION)          121

8.2         INDOOR             122

8.2.1      RISING DEMAND FOR INTERLOCKS AND ARC-PROOF ENCLOSURES TO FUEL SEGMENTAL GROWTH    122

TABLE 43           INDOOR: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION) 122

TABLE 44           INDOOR: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION) 122

8.3         OUTDOOR        123

8.3.1      ABILITY TO WITHSTAND EXTREME TEMPERATURES, RAIN, AND HUMIDITY TO DRIVE MARKET 123

TABLE 45           OUTDOOR: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION) 123

TABLE 46           OUTDOOR: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION) 124

9            RING MAIN UNIT MARKET, BY VOLTAGE RATING          125

9.1         INTRODUCTION            126

FIGURE 45         UP TO 15 KV SEGMENT DOMINATED MARKET IN 2023  126

TABLE 47           RING MAIN UNIT MARKET, BY VOLTAGE RATING, 2020–2023 (USD MILLION) 126

TABLE 48           RING MAIN UNIT MARKET, BY VOLTAGE RATING, 2024–2029 (USD MILLION) 127

9.2         UP TO 15 KV      127

9.2.1      GOVERNMENT-LED INITIATIVES TO ELECTRIFY RURAL AREAS TO DRIVE MARKET 127

TABLE 49           UP TO 15 KV: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION) 128

TABLE 50           UP TO 15 KV: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION) 128

9.3         16–25 KV            128

9.3.1      ONGOING DEVELOPMENTS IN WIND ENERGY AND INDUSTRIAL AUTOMATION TO FUEL MARKET GROWTH      128

TABLE 51           16–25 KV: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION) 129

TABLE 52           16–25 KV: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION) 129

9.4         ABOVE 25 KV     129

9.4.1      GROWING IMPLEMENTATION IN LARGE-SCALE COMMERCIAL BUILDINGS TO BOOST DEMAND           129

TABLE 53           ABOVE 25 KV: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)     130

TABLE 54           ABOVE 25 KV: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)     130

10          RING MAIN UNIT MARKET, BY STRUCTURE       131

10.1       INTRODUCTION            132

FIGURE 46         NON-EXTENSIBLE SEGMENT SECURED LARGER MARKET SHARE IN 2023  132

TABLE 55           RING MAIN UNIT MARKET, BY STRUCTURE, 2020–2023 (USD MILLION)          132

TABLE 56           RING MAIN UNIT MARKET, BY STRUCTURE, 2024–2029 (USD MILLION)          133

10.2       NON-EXTENSIBLE         133

10.2.1    GROWING NUMBER OF INFRASTRUCTURE PROJECTS IN URBAN REDEVELOPMENT AND SMART CITY INITIATIVES TO DRIVE MARKET  133

TABLE 57           NON-EXTENSIBLE: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)          133

TABLE 58           NON-EXTENSIBLE: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)          134

10.3       EXTENSIBLE     134

10.3.1    RISING EMPHASIS ON URBANIZATION AND INDUSTRIALIZATION TO BOOST DEMAND           134

TABLE 59           EXTENSIBLE: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION) 135

TABLE 60           EXTENSIBLE: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION) 135

11          RING MAIN UNIT MARKET, BY END USER           136

11.1       INTRODUCTION            137

FIGURE 47         DISTRIBUTION UTILITIES SEGMENT LED MARKET IN 2023              137

TABLE 61           RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)          137

TABLE 62           RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)          138

11.2       DISTRIBUTION UTILITIES          138

11.2.1    GOVERNMENT-LED INITIATIVES AND INVESTMENTS TO DEVELOP SMART GRID TECHNOLOGIES TO BOOST DEMAND      138

TABLE 63           DISTRIBUTION UTILITIES: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)       139

TABLE 64           DISTRIBUTION UTILITIES: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)       139

11.3       INDUSTRIAL     139

11.3.1    RISING FOCUS OF REFINERIES AND PROCESSING FACILITIES ON SAFETY TO BOOST DEMAND    139

TABLE 65           INDUSTRIAL PLANTS: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)          140

TABLE 66           INDUSTRIAL PLANTS: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)          140

11.4       TRANSPORTATION INFRASTRUCTURE 141

11.4.1    GROWING REQUIREMENT FOR UNINTERRUPTED POWER SUPPLY TO ACCELERATE DEMAND 141

TABLE 67           TRANSPORTATION INFRASTRUCTURE: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)            141

TABLE 68           TRANSPORTATION INFRASTRUCTURE: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)            142

11.5       COMMERCIAL BUILDINGS         142

11.5.1    INCREASING DEPLOYMENT IN ESCALATORS, ELEVATORS, SECURITY SYSTEMS, AND HVAC UNITS TO DRIVE MARKET            142

TABLE 69           COMMERCIAL BUILDINGS: RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)       143

TABLE 70           COMMERCIAL BUILDINGS: RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)       143

12          RING MAIN UNIT MARKET, BY REGION 144

12.1       INTRODUCTION            145

FIGURE 48         ASIA PACIFIC TO EXHIBIT HIGHEST CAGR DURING FORECAST PERIOD              145

FIGURE 49         RING MAIN UNIT MARKET SHARE, BY REGION, 2023      146

TABLE 71           RING MAIN UNIT MARKET, BY REGION, 2020–2023 (USD MILLION)          146

TABLE 72           RING MAIN UNIT MARKET, BY REGION, 2024–2029 (USD MILLION)          146

TABLE 73           RING MAIN UNIT MARKET, BY REGION, 2020–2023 (THOUSAND UNITS) 147

TABLE 74           RING MAIN UNIT MARKET, BY REGION, 2024–2029 (THOUSAND UNITS) 147

12.2       ASIA PACIFIC    147

12.2.1    RECESSION IMPACT ON RING MAIN UNIT MARKET IN ASIA PACIFIC              148

FIGURE 50         ASIA PACIFIC: RING MAIN UNIT MARKET SNAPSHOT    149

TABLE 75           ASIA PACIFIC: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2020–2023 (USD MILLION)             149

TABLE 76           ASIA PACIFIC: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2024–2029 (USD MILLION)             150

TABLE 77           ASIA PACIFIC: RING MAIN UNIT MARKET, BY INSTALLATION, 2020–2023 (USD MILLION)          150

TABLE 78           ASIA PACIFIC: RING MAIN UNIT MARKET, BY INSTALLATION, 2024–2029 (USD MILLION)          150

TABLE 79           ASIA PACIFIC: RING MAIN UNIT MARKET, BY VOLTAGE RATING, 2020–2023 (USD MILLION)        150

TABLE 80           ASIA PACIFIC: RING MAIN UNIT MARKET, BY VOLTAGE RATING, 2024–2029 (USD MILLION)        151

TABLE 81           ASIA PACIFIC: RING MAIN UNIT MARKET, BY STRUCTURE, 2020–2023 (USD MILLION)          151

TABLE 82           ASIA PACIFIC: RING MAIN UNIT MARKET, BY STRUCTURE, 2024–2029 (USD MILLION)          151

TABLE 83           ASIA PACIFIC: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)     151

TABLE 84           ASIA PACIFIC: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)     152

TABLE 85           ASIA PACIFIC: RING MAIN UNIT MARKET, BY COUNTRY, 2020–2023 (USD MILLION)     152

TABLE 86           ASIA PACIFIC: RING MAIN UNIT MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     152

12.2.2    CHINA  153

12.2.2.1 Government-led initiatives to upgrade and expand existing grid infrastructure to boost demand      153

TABLE 87           CHINA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 153

TABLE 88           CHINA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 154

12.2.3    INDIA   154

12.2.3.1 Increasing demand for reliable power distribution infrastructure to drive market              154

TABLE 89           INDIA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 155

TABLE 90           INDIA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 155

12.2.4    JAPAN  155

12.2.4.1 Rising focus on modernizing existing electricity grid to fuel market growth              155

TABLE 91           JAPAN: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 156

TABLE 92           JAPAN: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 156

12.2.5    MALAYSIA         156

12.2.5.1 Growing emphasis on reducing greenhouse gas emissions to boost demand              156

TABLE 93           MALAYSIA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 157

TABLE 94           MALAYSIA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 157

12.2.6    SOUTH KOREA 158

12.2.6.1 Increasing deployment of smart grid technologies in urban areas to drive market              158

TABLE 95           SOUTH KOREA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)     158

TABLE 96           SOUTH KOREA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)     159

12.2.7    REST OF ASIA PACIFIC  159

TABLE 97           REST OF ASIA PACIFIC: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)             160

TABLE 98           REST OF ASIA PACIFIC: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)             160

12.3       EUROPE             161

12.3.1    RECESSION IMPACT ON RING MAIN UNIT MARKET IN EUROPE 161

FIGURE 51         EUROPE: RING MAIN UNIT MARKET SNAPSHOT             162

TABLE 99           EUROPE: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2020–2023 (USD MILLION)          162

TABLE 100         EUROPE: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2024–2029 (USD MILLION)          163

TABLE 101         EUROPE: RING MAIN UNIT MARKET, BY INSTALLATION, 2020–2023 (USD MILLION)     163

TABLE 102         EUROPE: RING MAIN UNIT MARKET, BY INSTALLATION, 2024–2029 (USD MILLION)     163

TABLE 103         EUROPE: RING MAIN UNIT MARKET, BY VOLTAGE RATING, 2020–2023 (USD MILLION)          163

TABLE 104         EUROPE: RING MAIN UNIT MARKET, BY VOLTAGE RATING, 2024–2029 (USD MILLION)          164

TABLE 105         EUROPE: RING MAIN UNIT MARKET, BY STRUCTURE, 2020–2023 (USD MILLION)     164

TABLE 106         EUROPE: RING MAIN UNIT MARKET, BY STRUCTURE, 2024–2029 (USD MILLION)     164

TABLE 107         EUROPE: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 164

TABLE 108         EUROPE: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 165

TABLE 109         EUROPE: RING MAIN UNIT MARKET, BY COUNTRY, 2020–2023 (USD MILLION) 165

TABLE 110         EUROPE: RING MAIN UNIT MARKET, BY COUNTRY, 2024–2029 (USD MILLION) 165

12.3.2    GERMANY         166

12.3.2.1 Growing emphasis on national grid expansion and modification to drive market              166

TABLE 111         GERMANY: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 167

TABLE 112         GERMANY: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 167

12.3.3    FRANCE             167

12.3.3.1 Shifting focus to cut nuclear power reliance in electricity generation to boost market   167

TABLE 113         FRANCE: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 168

TABLE 114         FRANCE: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 168

12.3.4    UK         168

12.3.4.1 Government-led initiatives to regulate greenhouse gas emissions to fuel market growth   168

TABLE 115         UK: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)          169

TABLE 116         UK: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)          169

12.3.5    REST OF EUROPE           169

TABLE 117         REST OF EUROPE: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)          170

TABLE 118         REST OF EUROPE: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)          170

12.4       NORTH AMERICA          171

12.4.1    RECESSION IMPACT ON RING MAIN UNIT MARKET IN NORTH AMERICA           171

TABLE 119         NORTH AMERICA: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2020–2023 (USD MILLION)             171

TABLE 120         NORTH AMERICA: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2024–2029 (USD MILLION)             172

TABLE 121         NORTH AMERICA: RING MAIN UNIT MARKET, BY INSTALLATION, 2020–2023 (USD MILLION)        172

TABLE 122         NORTH AMERICA: RING MAIN UNIT MARKET, BY INSTALLATION, 2024–2029 (USD MILLION)        172

TABLE 123         NORTH AMERICA: RING MAIN UNIT MARKET, BY VOLTAGE RATING, 2020–2023 (USD MILLION)        172

TABLE 124         NORTH AMERICA: RING MAIN UNIT MARKET, BY VOLTAGE RATING, 2024–2029 (USD MILLION)        173

TABLE 125         NORTH AMERICA: RING MAIN UNIT MARKET, BY STRUCTURE, 2020–2023 (USD MILLION)          173

TABLE 126         NORTH AMERICA: RING MAIN UNIT MARKET, BY STRUCTURE, 2024–2029 (USD MILLION)          173

TABLE 127         NORTH AMERICA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)          173

TABLE 128         NORTH AMERICA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)          174

TABLE 129         NORTH AMERICA: RING MAIN UNIT MARKET, BY COUNTRY, 2020–2023 (USD MILLION)          174

TABLE 130         NORTH AMERICA: RING MAIN UNIT MARKET, BY COUNTRY, 2024–2029 (USD MILLION)          174

12.4.2    US         174

12.4.2.1 Increasing adoption of renewable energy sources to drive market             174

TABLE 131         US: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)          175

TABLE 132         US: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)          175

12.4.3    CANADA            176

12.4.3.1 Growing emphasis on developing alternative insulation materials to SF6 to boost demand 176

TABLE 133         CANADA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 177

TABLE 134         CANADA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 177

12.4.4    MEXICO             177

12.4.4.1 Pressing need to reduce dependence on coal for power generation to boost demand 177

TABLE 135         MEXICO: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 178

TABLE 136         MEXICO: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 178

12.5       MIDDLE EAST & AFRICA             178

12.5.1    RECESSION IMPACT ON RING MAIN UNIT MARKET IN MIDDLE EAST & AFRICA 179

TABLE 137         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2020–2023 (USD MILLION)   179

TABLE 138         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2024–2029 (USD MILLION)   179

TABLE 139         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY INSTALLATION, 2020–2023 (USD MILLION)        180

TABLE 140         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY INSTALLATION, 2024–2029 (USD MILLION)        180

TABLE 141         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY STRUCTURE, 2020–2023 (USD MILLION) 180

TABLE 142         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY STRUCTURE, 2024–2029 (USD MILLION) 180

TABLE 143         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)             181

TABLE 144         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)             181

TABLE 145         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY COUNTRY, 2020–2023 (USD MILLION)    181

TABLE 146         MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY COUNTRY, 2024–2029 (USD MILLION)    182

TABLE 147         GCC: RING MAIN UNIT MARKET, BY COUNTRY, 2020–2023 (USD MILLION)          182

TABLE 148         GCC: RING MAIN UNIT MARKET, BY COUNTRY, 2024–2029 (USD MILLION)          182

12.5.2    GCC      183

12.5.2.1 Saudi Arabia        183

12.5.2.1.1            Rapid urbanization and industrialization to boost demand         183

TABLE 149         SAUDI ARABIA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)     184

TABLE 150         SAUDI ARABIA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)     184

12.5.2.2 UAE      184

12.5.2.2.1            Rising need for grid modernization to meet high energy demands to create opportunities           184

TABLE 151         UAE: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)          185

TABLE 152         UAE: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)          185

12.5.2.3 Rest of GCC        185

TABLE 153         REST OF GCC: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)     186

TABLE 154         REST OF GCC: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)     186

12.5.3    EGYPT 186

12.5.3.1 Increasing urbanization and industrialization to drive market     186

TABLE 155         EGYPT: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 187

TABLE 156         EGYPT: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 187

12.5.4    SOUTH AFRICA 187

12.5.4.1 Integration of advanced monitoring and control systems to drive market  187

TABLE 157         SOUTH AFRICA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)          188

TABLE 158         SOUTH AFRICA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)          188

12.5.5    REST OF MIDDLE EAST & AFRICA           188

TABLE 159         REST OF MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)            189

TABLE 160         REST OF MIDDLE EAST & AFRICA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)            189

12.6       SOUTH AMERICA           189

12.6.1    RECESSION IMPACT ON RING MAIN UNIT MARKET IN SOUTH AMERICA           190

TABLE 161         SOUTH AMERICA: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2020–2023 (USD MILLION)             190

TABLE 162         SOUTH AMERICA: RING MAIN UNIT MARKET, BY INSULATION TYPE, 2024–2029 (USD MILLION)             191

TABLE 163         SOUTH AMERICA: RING MAIN UNIT MARKET, BY INSTALLATION, 2020–2023 (USD MILLION)        191

TABLE 164         SOUTH AMERICA: RING MAIN UNIT MARKET, BY INSTALLATION, 2024–2029 (USD MILLION)        191

TABLE 165         SOUTH AMERICA: RING MAIN UNIT MARKET, BY STRUCTURE, 2020–2023 (USD MILLION)          191

TABLE 166         SOUTH AMERICA: RING MAIN UNIT MARKET, BY STRUCTURE, 2024–2029 (USD MILLION)          192

TABLE 167         SOUTH AMERICA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)          192

TABLE 168         SOUTH AMERICA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)          192

TABLE 169         SOUTH AMERICA: RING MAIN UNIT MARKET, BY COUNTRY, 2020–2023 (USD MILLION)          192

TABLE 170         SOUTH AMERICA: RING MAIN UNIT MARKET, BY COUNTRY, 2024–2029 (USD MILLION)          193

12.6.2    BRAZIL 193

12.6.2.1 Increasing demand for efficient electricity distribution to drive demand   193

TABLE 171         BRAZIL: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION) 193

TABLE 172         BRAZIL: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION) 194

12.6.3    ARGENTINA      194

12.6.3.1 Rising use of automated and digital monitoring systems to drive market  194

TABLE 173         ARGENTINA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)     194

TABLE 174         ARGENTINA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)     195

12.6.4    REST OF SOUTH AMERICA         195

TABLE 175         REST OF SOUTH AMERICA: RING MAIN UNIT MARKET, BY END USER, 2020–2023 (USD MILLION)             196

TABLE 176         REST OF SOUTH AMERICA: RING MAIN UNIT MARKET, BY END USER, 2024–2029 (USD MILLION)             196

13          COMPETITIVE LANDSCAPE       197

13.1       OVERVIEW        197

13.2       KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024     197

TABLE 177         KEY PLAYER STRATEGIES/RIGHT TO WIN, 2020–2024     197

13.3       MARKET SHARE ANALYSIS, 2023             198

TABLE 178         RING MAIN UNIT MARKET: DEGREE OF COMPETITION, 2023              199

FIGURE 52         RING MAIN UNIT MARKET SHARE ANALYSIS, 2023          199

13.4       REVENUE ANALYSIS, 2019–2023 200

FIGURE 53         REVENUE ANALYSIS OF TOP FIVE PLAYERS, 2019–2023  200

13.5       COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023   201

13.5.1    STARS  201

13.5.2    EMERGING LEADERS    201

13.5.3    PERVASIVE PLAYERS     201

13.5.4    PARTICIPANTS 201

FIGURE 54         RING MAIN UNIT MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023     202

13.5.5    COMPANY FOOTPRINT: KEY PLAYERS, 2023      203

13.5.5.1 Company footprint            203

FIGURE 55         RING MAIN UNIT MARKET: COMPANY FOOTPRINT       203

13.5.5.2 End user footprint             204

TABLE 179         RING MAIN UNIT MARKET: END USER FOOTPRINT        204

13.5.5.3 Installation footprint          205

TABLE 180         RING MAIN UNIT MARKET: INSTALLATION FOOTPRINT              205

13.5.5.4 Voltage rating footprint     206

TABLE 181         RING MAIN UNIT MARKET: VOLTAGE RATING FOOTPRINT              206

13.5.5.5 Insulation type footprint    207

TABLE 182         RING MAIN UNIT MARKET: INSULATION TYPE FOOTPRINT              207

13.5.5.6 Position footprint 208

TABLE 183         RING MAIN UNIT MARKET: POSITION FOOTPRINT        208

13.5.5.7 Structure footprint             209

TABLE 184         RING MAIN UNIT MARKET: STRUCTURE FOOTPRINT    209

13.5.5.8 Region footprint  209

TABLE 185         RING MAIN UNIT MARKET: REGION FOOTPRINT           210

13.6       COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023          211

13.6.1    PROGRESSIVE COMPANIES       211

13.6.2    RESPONSIVE COMPANIES          211

13.6.3    DYNAMIC COMPANIES 211

13.6.4    STARTING BLOCKS       211

FIGURE 56         RING MAIN UNIT MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023             212

13.6.5    COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023             213

13.6.5.1 Detailed list of key startups/SMEs   213

TABLE 186         RING MAIN UNIT MARKET: DETAILED LIST OF KEY STARTUPS/SMES           213

13.6.5.2 Competitive benchmarking of key startups/SMEs        213

TABLE 187         RING MAIN UNIT MARKET: COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES           213

13.7       COMPANY VALUATION AND FINANCIAL METRICS        214

FIGURE 57         FINANCIAL METRICS (EV/EBITDA), 2024            214

FIGURE 58         COMPANY VALUATION, 2024    214

13.8       BRAND/PRODUCT COMPARISON          215

FIGURE 59         PRODUCT/BRAND COMPARISON          215

13.9       COMPETITIVE SCENARIO AND TRENDS             215

13.9.1    PRODUCT LAUNCHES  216

TABLE 188         RING MAIN UNIT MARKET: PRODUCT LAUNCHES, APRIL 2020–FEBRUARY 2024 216

13.9.2    DEALS  216

TABLE 189         RING MAIN UNIT MARKET: DEALS, APRIL 2020–FEBRUARY 2024              216

13.9.3    OTHERS             217

TABLE 190         RING MAIN UNIT MARKET: OTHERS, APRIL 2020–FEBRUARY 2024      217

14          COMPANY PROFILES    218

(Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)*

14.1       KEY PLAYERS   218

14.1.1    ABB       218

TABLE 191         ABB: COMPANY OVERVIEW       218

FIGURE 60         ABB: COMPANY SNAPSHOT       219

TABLE 192         ABB: PRODUCTS/SERVICES/SOLUTIONS OFFERED        219

TABLE 193         ABB: OTHERS   220

14.1.2    SIEMENS            222

TABLE 194         SIEMENS: COMPANY OVERVIEW            222

FIGURE 61         SIEMENS: COMPANY SNAPSHOT            223

TABLE 195         SIEMENS: PRODUCTS/SERVICES/SOLUTIONS OFFERED              223

TABLE 196         SIEMENS: PRODUCT LAUNCHES            224

TABLE 197         SIEMENS: DEALS            224

TABLE 198         SIEMENS: OTHERS         224

14.1.3    EATON 226

TABLE 199         EATON: COMPANY OVERVIEW 226

FIGURE 62         EATON: COMPANY SNAPSHOT 227

TABLE 200         EATON: PRODUCTS/SERVICES/SOLUTIONS OFFERED  227

TABLE 201         EATON: DEALS 228

14.1.4    SCHNEIDER ELECTRIC 230

TABLE 202         SCHNEIDER ELECTRIC: COMPANY OVERVIEW  230

FIGURE 63         SCHNEIDER ELECTRIC: COMPANY SNAPSHOT  231

TABLE 203         SCHNEIDER ELECTRIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED          231

TABLE 204         SCHNEIDER ELECTRIC: PRODUCT LAUNCHES  232

TABLE 205         SCHNEIDER ELECTRIC: DEALS 232

TABLE 206         SCHNEIDER ELECTRIC: OTHERS            233

14.1.5    LS ELECTRIC CO., LTD. 234

TABLE 207         LS ELECTRIC CO., LTD.: COMPANY OVERVIEW 234

FIGURE 64         LS ELECTRIC CO., LTD.: COMPANY SNAPSHOT 235

TABLE 208         LS ELECTRIC CO., LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED          235

TABLE 209         LS ELECTRIC CO., LTD.: PRODUCT LAUNCHES 236

TABLE 210         LS ELECTRIC CO., LTD.: DEALS 236

14.1.6    LUCY GROUP LTD.        238

TABLE 211         LUCY GROUP LTD.: COMPANY OVERVIEW        238

TABLE 212         LUCY GROUP LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED          238

TABLE 213         LUCY GROUP LTD.: DEALS        239

14.1.7    CG POWER & INDUSTRIAL SOLUTIONS LTD.     240

TABLE 214         CG POWER & INDUSTRIAL SOLUTIONS LTD.: COMPANY OVERVIEW        240

FIGURE 65         CG POWER & INDUSTRIAL SOLUTIONS LTD.: COMPANY SNAPSHOT        241

TABLE 215         CG POWER & INDUSTRIAL SOLUTIONS LTD.: PRODUCTS/SERVICES/SOLUTIONS OFFERED   241

14.1.8    TIEPCO 242

TABLE 216         TIEPCO: COMPANY OVERVIEW 242

TABLE 217         TIEPCO: PRODUCTS/SERVICES/SOLUTIONS OFFERED 242

14.1.9    ENTEC ELECTRIC & ELECTRONIC          243

TABLE 218         ENTEC ELECTRIC & ELECTRONIC: COMPANY OVERVIEW              243

TABLE 219         ENTEC ELECTRIC & ELECTRONIC: PRODUCTS/SERVICES/SOLUTIONS OFFERED   243

14.1.10  ORECCO            244

TABLE 220         ORECCO: COMPANY OVERVIEW            244

TABLE 221         ORECCO: PRODUCTS/SERVICES/SOLUTIONS OFFERED 244

14.1.11  LARSEN & TOUBRO LIMITED    245

TABLE 222         LARSEN & TOUBRO LIMITED: COMPANY OVERVIEW     245

FIGURE 66         LARSEN & TOUBRO LIMITED: COMPANY SNAPSHOT    246

TABLE 223         LARSEN & TOUBRO LIMITED: PRODUCTS/SERVICES/SOLUTIONS OFFERED   246

TABLE 224         LARSEN & TOUBRO LIMITED: OTHERS 247

14.1.12  NATUS GMBH & CO. KG              248

TABLE 225         NATUS GMBH & CO. KG: COMPANY OVERVIEW 248

TABLE 226         NATUS GMBH & CO. KG: PRODUCTS/SERVICES/SOLUTIONS OFFERED          248

14.1.13  ALFANAR GROUP          249

TABLE 227         ALFANAR GROUP: COMPANY OVERVIEW           249

TABLE 228         ALFANAR GROUP: PRODUCTS/SERVICES/SOLUTIONS OFFERED          249

14.1.14  ROCKWILL        251

TABLE 229         ROCKWILL: COMPANY OVERVIEW         251

TABLE 230         ROCKWILL: PRODUCTS/SERVICES/SOLUTIONS OFFERED              251

14.1.15  KONČAR D.D.   253

TABLE 231         KONČAR D.D.: COMPANY OVERVIEW    253

FIGURE 67         KONČAR D.D.: COMPANY SNAPSHOT   254

TABLE 232         KONČAR D.D.: PRODUCTS/SERVICES/SOLUTIONS OFFERED              254

14.1.16  MEGAWIN         255

TABLE 233         MEGAWIN: COMPANY OVERVIEW          255

TABLE 234         MEGAWIN: PRODUCTS/SERVICES/SOLUTIONS OFFERED              255

14.1.17  BONOMI EUGENIO SPA 256

TABLE 235         BONOMI EUGENIO SPA: COMPANY OVERVIEW 256

TABLE 236         BONOMI EUGENIO SPA: PRODUCTS/SERVICES/SOLUTIONS OFFERED          256

14.1.18  CHINT GROUP 257

TABLE 237         CHINT GROUP: COMPANY OVERVIEW  257

TABLE 238         CHINT GROUP: PRODUCTS/SERVICES/SOLUTIONS OFFERED              257

TABLE 239         CHINT GROUP: DEALS 258

14.1.19  KDM STEEL       259

TABLE 240         KDM STEEL: COMPANY OVERVIEW       259

TABLE 241         KDM STEEL: PRODUCTS/SERVICES/SOLUTIONS OFFERED              259

14.1.20  C-SEC TECHNOLOGIES PRIVATE LIMITED         260

TABLE 242         C-SEC TECHNOLOGIES PRIVATE LIMITED: COMPANY OVERVIEW        260

TABLE 243         C-SEC TECHNOLOGIES PRIVATE LIMITED: PRODUCTS/SERVICES/SOLUTIONS OFFERED   260

14.2       OTHER PLAYERS           262

14.2.1    YUEQING LIYOND ELECTRIC CO., LTD 262

14.2.2    CHINA TRANSPOWERS ELECTRIC CO., LIMITED             262

14.2.3    INDKOM ENGINEERING SDN. BHD.        263

14.2.4    SKYY CREATECH SERVICES PVT. LTD.   263

14.2.5    BVM TECHNOLOGIES PRIVATE LIMITED           264

*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, MnM view (Key strengths/Right to win, Strategic choices made, Weakness/competitive threats)* might not be captured in case of unlisted companies.

15          APPENDIX         265

15.1       INSIGHTS FROM INDUSTRY EXPERTS   265

15.2       DISCUSSION GUIDE      265

15.3       KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL             270

15.4       CUSTOMIZATION OPTIONS      272

15.5       RELATED REPORTS       272

15.6       AUTHOR DETAILS         273

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