Ring Main Unit Market Report 2020-2025: Market to Surpass $2.5 Billion – Key Players are ABB, Schneider Elecctric, Eaton, Lucy Electric, Larsen & Toubro | ABNewswire

According to the new market research report “Ring Main Unit Market by Type (Gas, Air, Oil, and Solid Dielectric), Installation (Outdoor, and Indoor), Application (Distribution Utilities, Industries, and Infrastructure & Transportation), Voltage Rating, and Region-Global Forecast to 2025″, The global ring main unit market is expected to reach USD 2.5 billion by 2025 from an estimated value of USD 1.6 billion in 2020, at a CAGR of 9.3%. Capacity additions, increasing electricity demand, and industrialization projects in countries such as China, Japan, India, and South Korea are the main reasons spurring the growth of the ring main unit market. In India, factors such as rural electrification, adoption of smart grids, and substation automation projects are increasing the demand for ring main units. Due to the COVID-19 outbreak, the US has a negative growth rate of -2.45% in the manufacturing sector compared to -3.25% of China. India, Japan, and Europe registered a negative growth of -3.98%, 2.77%, and -2.89%, respectively, in their manufacturing sectors.
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