Ring Main Unit Market surge towards solid growth by 2027 according to a new research re... - 0 views
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Almira Coyne on 08 Sep 23The market growth can be attributed to the increasing renewable energy capacity additions and enhancement plans for distribution networks and the modernization of existing power infrastructure. According to a new market research report, the global ring main unit market is projected to reach USD 3.0 billion by 2027 from an estimated USD 2.3 billion in 2022, at a CAGR of 6.0% during the forecast period from 2022 to 2027. A ring main unit is considered as an all-in-one solution that is easy to install and maintenance-free. Various industries are witnessing a general shift toward the adoption of ring main units as it enhances the uptime and reliability of power supply. It can also be fitted or integrated with intelligent electronic devices. Due to its smart capabilities, it is highly demanded in the market. In addition, the global focus on renewable power generation is expected to present numerous growth opportunities for the growth of the ring main unit market.