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Growing Demand for Electricity to Bolster North America Electrical Fuses Market, Expected to Exhibit 6.0% CAGR 2016–2024

Press release Description

Albany, New York, October 17, 2016: A new market research study has recently been added by Market Research Reports Search Engine (MRRSE) to its vast collection of research studies. The 60-page research report, titled “Electrical Fuses Market – North America Industry Analysis, Size, Share, Growth Trends and Forecast 2016 – 2024,” provides a thorough overview, focusing on the latest trends and opportunities in the market. Kay dynamics that are projected to influence the growth of the market have also been highlighted in order to offer a strong understanding to readers. 

According to the research study, in 2015, the North America electrical fuses market was worth US$1.8 bn and is estimated to reach a value of US$3.09 bn by 2024. The market is projected to register a 6.0% CAGR between 2016 and 2024.

The growing demand for reliable power delivery and electricity is the primary factor augmenting the growth of the North America electrical fuses market. Moreover, the swift growth of automotive and construction sectors is projected to drive the demand for electrical fuses in this region. On the flip side, the emergence of counterfeit switchgear and related components is restricting the growth of the overall market. Additionally, the impact of price-based competition is expected to inhibit the growth of the electrical fuses market in North America throughout the forecast period.

By voltage level of installation, the North America market for electrical fuses has been categorized into low voltage fuses and high voltage fuses. The low voltage fuses segment has been sub-categorized into cartridge fuses and plug-in fuses. Furthermore, on the basis of application, the market has been classified into construction, industrial, power generation, automotive, consumer electronics, and others.

From the geographical perspective, the North America electrical fuses market has been divided into Mexico, Canada, and the U.S. At present, the U.S. is exhibiting lucrative opportunities for suppliers and manufacturers of electrical fuses and is expected to lead the North America market throughout the forecast period. As per the research study, the U.S. electrical fuses market is estimated to register a 5.90% CAGR between 2016 and 2024, thanks to the favorable policies that are promoting the sales of electrical fuses in the U.S.

Browse Full North America Electrical Fuses Market Report with TOC

Key players operating in the electrical fuses market in North America include General Electric, Mersen S.A, G&W Electric Company, Mitsubishi Electric, Bel Fuse Inc., Schneider Electric SA, Siemens AG, Eaton Corporation, S&C Electric Company, ABB Ltd, and Littelfuse, Inc. Key players in the market are emphasizing on adopting green materials in order to expand the application base of electrical fuses. Moreover, the increasing investments in research and development activities to enhance the performance and reduce the size of fuses are expected to propel the market in the near future.

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