ring road vs ringway

ring road and ringway both are nouns.

Word	Noun	Adjective	Verb	Adverb
ring road	Yes	No	No	No
ringway	Yes	No	No	No

As nouns, ring road and ringway are synonyms defined as:

ring road and ringway: a highway that encircles an urban area so that traffic does not have to pass through the center

Other synonyms of ring road include beltway, bypass.

ring road (noun)	ringway (noun)
a highway that encircles an urban area so that traffic does not have to pass through the center	a highway that encircles an urban area so that traffic does not have to pass through the center