Ring Main Unit Market annual installation is poised to cross 400’ 000 units by 2024
Rising infrastructural spending favoured by ongoing regulatory reforms pertaining to expansion and refurbishment of grid networks will augment the ring main unit market size. Rapid urbanization coupled with residential and commercial establishments across developing regions positively drive the business outlook. Growing demand for upgradation and replacement of conventional grid infrastructure across North America and Europe further complement the industry growth.
Exponential rise in energy consumption coupled with soaring energy security concerns will fuel the ring main unit market share. Intensifying grid complexities subject to steep growth in electrification demand in turn, obligates the deployment of network protection and control equipment. In addition to safe and reliable operations, growing concerns toward security of supply further complements the industry landscape. Favourable consumer tendencies toward the adoption of a sustainable energy mix favoured by ongoing electrification programs will further complement the business outlook.