Self-Powered Relays in Ring Main Unit Market Size Expected to Reach $2.4 Billion by 2026

Self-Powered Relays in Ring Main Unit Market

(IT-NEWSWIRE.COM, September 17, 2021 ) Self Powered Relays in Ring Main Unit Market is expected to reach $2.4 billion by 2026 estimated to grow at a CAGR of 7.0% during the forecast period 2021-2026. The self-powered relay with undercurrent elements are used to provide additional functions to prevent damage to the power system in secondary distribution networks. Similarly, it allows typical applications to prevent from loss of load during switching through circuit breaker and protective relay uses, in addition if there is sudden surge of magnetizing inrush current.

These relays blocks the inrush current to avoid false tripping. Owing to these advantages several companies have invested heavily to manufacture this relays with advanced features. For instance, Ashida has designed & manufactured the unique product for protection of Ring Main Units called ADR241S a self-powered relay or dual powered relay can be used in RMUs where there is no external battery backup available. Similarly several other companies have been investing heavily to manufacture these relays with advanced features. Hence these investments, advantages are analysed to drive the Self-Powered Relays in Ring Main Unit market size in the forecast period 2021-2026.

Self-Powered Relays in Ring Main Unit Market Segment Analysis - By Phase

Three phase segment is anticipated to grow at a CAGR of 9.0% during the forecast period. Self-powered relays in RMU enables to install on medium voltage secondary distribution network and mainly used for protection of distribution transformers in compact substations. Similarly, it is used for medium voltage distribution in compact substations, secondary distribution networks small buildings, residential housing complex, large shopping malls, airports, wind power and so on. In addition the three phase segment with the combination of switch fuse or circuit breaker with relay helps in protection of the transformer in various sectors. Hence these advantages are analyzed to drive the market in the forecast period 2021-2026.

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Self-Powered Relays in Ring Main Unit Market Segment Analysis - By Applications

Self-Powered Relays in Ring Main Unit in industrial applications is growing at a CAGR of 9.7% in the forecast period. In self-powered relay in RMU, prevents the electrical equipment from thermal overload when operating temperature is exceeded the maximum designed temperature. Similarly, these protective relays track internal hardware and detects the failure of any component, and display it on LCD screen. This feature is very useful to give pre-information to avoid any mal-operation.

Several companies in this sector have been deploying protective relays and circuti breakers. In addition to this modernization of existing power infrastructure in several industries is also enhancing the usage of self-powered relays in order to ensure continuous and efficient power supply. Owing to these advantages Self-Powered Relays in Ring Main Unit market witness significant growth in the forecast period 2021-2026.

Self-Powered Relays in Ring Main Unit Market Segment Analysis - By Geography

In 2020, APAC dominated the Self-Powered Relays in Ring Main Unit market with a market share of more than 40%, followed by North America and Europe. The economy of APAC is majorly influenced by major countries such as China and India. In these countries, rise in government initiatives for capacity addition and rural electrification are anticipated to boost the overall market in Asia Pacific during the forecast period. In addition, there has been significant rise in the usage of power as a result of which, significant investments have been made in the region to augment power generation capacities. These investments are anticipated to boost the demand for ring main units. Moreover, the numerous developed and developing countries, are investing heavily on renewable energy owing to regulations made by several countries.

China has planned to invest more than $361 billion on renewable energy production by 2020. Similarly countries like South Korea, India, Australia and other have been investing heavily for the production of renewable energy. As self-powered relays in Ring Main Units are integrated with in solar power plant to minimize the power losses as well as enhance safety with reduced cable lengths. Hence these investments are analyzed to drive the market in the forecast period 2021-2026.

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Self-Powered Relays in Ring Main Unit Market Drivers

Developing Renewable Sector

Emergence of Renewable energy generation in various countries offer opportunities for Self-Powered Relays in Ring Main Unit as it is used for several applications in this sector. Government of several countries have been investing heavily for the development of this sector. In 2019, Overseas Private Investment Corporation (OPIC), a development finance institution of the US government, has invested USD 350 million in six new solar and wind-power generation facilities in India.

Similarly, in 2020 U.S. Department of Energy (DOE) announced up to $125.5 million in new funding to advance solar technology research. In addition to this countries such as China, Brazil, Germany and other have invested heavily for the development of this sector. As Self-Powered Relays in Ring Main Unit as it is used for several applications in this sector. Hence these developments are analyzed to drive the market in the forecast period 2021-2026.

Modernization of Existing Power Infrastructure

Self-Powered Relays in Ring main units are switching devices employed in the ring circuits of secondary distribution networks. These devices ensure the maximized protection of circuits and other equipment connected to them. In addition they can be connected to multiple power sources for uninterrupted power supply. In addition to this, rapid increase in modernization of power infrastructure, growing activities in capacity addition and enhancement plans for distribution networks and ongoing smart distribution network investments and developments by many countries enhances the usage of self-powered relays in ring main units in the Forecast period 2021-2026.

Self-Powered Relays in Ring Main Unit Market Challenges

High Costs and availability of alternative products

Although Self-Powered Relays in Ring Main Unit market is analyzed to grow at a significant rate, the high maintenance costs are set to hamper the growth of the market. Additionally the availability of cheap and alternatives products such as Conventional switchgear offers the same switching properties as ring main units in the market. The cost barrier restraints the growth of ring main units market with users inclined towards employing conventional switching solutions.

Self-Powered Relays in Ring Main Unit Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Self-Powered Relays in Ring main units market. In 2020, the market of Self-Powered Relays in Ring main units has been fragmented with several companies vying for top share. Self-Powered Relays in Ring main units top 10 companies ABB, Ltd. Schneider Electric SE (France), Eaton Corporation, PLC, Siemens AG , General Electric Company, Crompton Ashida electronics, and Fanox among others.

Acquisitions/Technology Launches

In April 2019, ASHIDA has designed & manufactured the unique product for protection of Ring Main Units called ADR241S is a self-powered relay or dual powered relay. This relay can be used in RMUs where there is no external battery backup available.

Key Takeaways

APAC dominated the Self-Powered Relays in Ring Main Unit market share with more than 40% in 2020, owing to government initiatives for capacity addition and rural electrification.

Self-Powered Relays in Ring Main Unit for industrial applications is estimated to grow at a CAGR of 9.7% during the forecast period. The protective relays prevents the electrical equipment from thermal overload when operating temperature is exceeded the maximum designed temperature.

Self-Powered Relays in Ring Main Unit with the combination of switch fuse or circuit breaker with relay helps in protection of the transformer in various sectors.

Self-Powered Relays in Ring main units top 10 companies ABB, Ltd. Schneider Electric SE (France), Eaton Corporation, PLC, Siemens AG , General Electric Company, Crompton Ashida electronics, and Fanox among others.

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Self-Powered Relays in Ring Main Unit Market Size Expected to Reach $2.4 Billion by 2026