Ring Main Unit Market to Hit $2.5 Billion by 2025; Adoption of Smart Grids and Increasing Electricity Demand to Propel the Market
July 27, 2021 at 05:00 AM EDT
Northbrook, IL -- (SBWIRE) -- 07/27/2021 -- 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.
