Growth in Renewable Energy Consumption to Drive the Ring Main Unit Market - MarketsandM... - 0 views
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Almira Coyne on 04 Mar 22The global ring main unit market size is projected to grow at a CAGR of 9.3% from 2020 to 2025. The market is estimated to be USD 1.6 billion in 2020 and expected to reach USD 2.5 billion by 2025. Asia Pacific is expected to be the largest and the fastest growing market for ring main units from 2020-2025. The market is driven by the rising demand for uninterrupted and reliable power supply across several end-use industries and expansion of the manufacturing sector. Also, the increasing renovation of power infrastructure and growing electricity demand in countries like China, India, and Japan is expected to fuel the ring main unit demand.