CLEVELAND, Sept. 26, 2016 /PRNewswire/ -- The US market for circuit breakers and fuses is forecast to increase 4.3 percent per annum to $5.3 billion in 2020. Sales expansion will be bolstered by ongoing efforts to expand and upgrade the US electrical grid, as well as by a return to growth in electricity generation levels following the modest downturn experienced during the 2010-2015 period. The growing utilization of renewable energy sources will support the use of specialty, higher value circuit protection devices, contributing to overall dollar gains. In addition, continued increases in both residential and nonresidential building activity will bolster associated circuit breaker and fuse demand. These and other trends are presented in Circuit Breakers & Fuses, a new study from The Freedonia Group, a Cleveland-based industry research firm.
Industry study Circuit Breakers & Fuses is available at http://www.freedoniagroup.com/DocumentDetails.aspx?ReferrerId=RF-PRNEWS&StudyID=3471
The electric power market is the largest end user of circuit breakers and fuses, and will remain so through 2020 as power utilities increase their construction spending. However, during that period the residential market will post the strongest gains, bolstered by eight percent yearly increases in housing construction spending. Growth prospects will also be favorable in the nonresidential market, with associated construction activity expected to climb nearly five percent per annum. Suppliers serving the nonresidential segment will also benefit from the higher value of products utilized there relative to many residential applications. The automotive market for circuit breakers and fuses will slow considerably from the 2010-2015 period as a result of moderating production gains. However, the increasing prevalence of electrical and electronic components in motor vehicles, as well as the rising popularity of hybrid and electric vehicles, will bolster circuit protection device demand on a per vehicle basis.
In a continuation of historical trends, circuit breaker sales will outpace fuse sales through 2020. However, the difference in growth rates will become less pronounced. Circuit breakers have already replaced fuses in most of the applications where practical, and as a result, fuse suppliers will not lose market share at the rate they once did. Furthermore, growth in certain direct current (DC) power applications, such as solar power generation, will benefit fuse manufacturers, as DC power poses some difficulties for circuit breaker usage. Still, circuit breaker manufacturers will continue to benefit from their products' performance advantages relative to fuses in many applications, as well as their relatively higher value.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group