ringway vs ring road

ringway and ring road both are nouns.

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

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

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

Other synonyms of ringway include beltway, bypass.

ringway (noun)	ring road (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