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US Circuit Breakers & Fuses Market

  • January 2014
  • -
  • Freedonia
  • -
  • 227 pages

US demand to rise 5.5% annually through 2017

US demand for circuit breakers and fuses is expected to increase 5.5 percent per year to $5.1 billion in 2017. Gains will be supported by favorable conditions in most of the industries and sectors that utilize these products. Demand will be bolstered by strong growth in electricity generation and ongoing increases in construction activity by electric utilities.

In addition, circuit breaker and fuse producers will benefit from solid growth in both residential and nonresidential building construction. Conditions in the manufacturing sector will also support expanding circuit breaker and fuse sales. Production of machinery, motor vehicles, and aerospace equipment will increase at improved rates, and electrical and electronic equipment manufacturing will rebound from the declines experienced during the 2007 to 2012 period. Furthermore, renewed strength in fixed investment spending will drive additional circuit breaker and fuse sales.

Residential construction to be fastest growing market

The residential construction market will post the strongest gains of any market, growing 8.4 percent per year to $290 million in 2017. This will be a considerable improvement from the declines registered during the 2007 to 2012 period. Market expansion will be the result of a major turnaround in residential construction activity, with 14 percent yearly spending increases forecast through 2017. The residential market will continue to be dominated by circuit breakers, as these products have replaced fuses in most single unit homes.

The electric power market will remain the largest end-user of circuit breakers and fuses through 2017. This was the fastest rising market during the 2007 to 2012 period, aided by increases in utility construction spending, and healthy gains are forecast to continue through 2017. Further efforts to update the US electrical grid will aid gains, as will the continued adoption of wind and solar power.

Power circuit breakers to post strongest gains

Circuit breaker sales will outpace fuse sales through 2017, and power circuit breakers will post the strongest gains of any individual product category during that time period. Demand for power circuit breakers will be driven by efforts to update the US electrical grid, as well as by the increasing utilization of these products by independent power producers and nonutility generators. Furthermore, technological advances will support sales of higher value power circuit breakers.

Domestic shipments to improve from recent declines

Shipments of circuit breakers and fuses from US manufacturers are forecast to increase 4.7 percent per year to $4.1 billion in 2017. This will be an improvement from the declines in shipments posted during the 2007 to 2012 period, but overall gains will lag demand forecasts. Growth will be supported by improved conditions in domestic demand and the reshoring of some circuit breaker and fuse-using manufacturing operations. However, manufacturers will continue to face intense competition from producers in regions with lower labor costs, particularly at the lower end of the market. Import growth will outpace export growth, and the US trade deficit in these products will expand through 2017.

Study coverage

This upcoming Freedonia industry study, Circuit Breakers & Fuses, is priced at $5100. It presents historical demand data (2002, 2007, and 2012) plus forecasts for 2017 and 2022 by product and market. The study also considers market environment factors, evaluates company market share and profiles 24 US industry players.

Table Of Contents

US Circuit Breakers and Fuses Market
TABLE OF CONTENTS

INTRODUCTION viii

I. EXECUTIVE SUMMARY 1

II. MARKET ENVIRONMENT 4

General 4
Macroeconomic Environment 5
Industrial Sector Trends 9
Industrial Production Trends 10
Capital Spending Trends 14
Construction Trends 17
Pricing Trends 19
Historical Market Trends 22
Regulations 24
Sulfur Hexafluoride 24
Electric Utility Deregulation 26
Wholesale Deregulation 27
Retail Deregulation 29
Other 31

III. TECHNOLOGY 33

General 33
Basic Electrical and Electronic Properties 33
Circuit Protection Device Technology 35
Positive Temperature Coefficient Fuses 38
Thin-Film Fuses 39
Arc-Fault Circuit Interrupters 40
Complementary Circuit Protection Technology 42
Thyristors 42
Varistors 43
Transient Voltage Surge Suppressors 43

IV. OVERVIEW 45

General 45
Supply and Demand 46
International Environment 48
World Supply and Demand 49
US Foreign Trade in Circuit Breakers and Fuses 51
Imports 54
Exports 56

V. CIRCUIT BREAKERS 59

General 59
Products 60
Molded Case Circuit Breakers 64
Industrial 67
Light-Duty 68
Specialty 70
Power Circuit Breakers 73
Parts and Accessories 76
Suppliers and Market Share 78

VI. FUSES 81

General 81
Products 82
High-Power Fuses 86
Power Fuses and Fuse Links 87
Distribution Cutouts 88
Cartridge and Plug Fuses 89
Electronic Fuses 91
Other Fuse Types 94
Parts and Accessories 96
Suppliers and Market Share 97

VII. MARKETS 100

General 100
Electric Power 105
Sector Outlook 106
Circuit Breaker and Fuse Demand 108
Nonresidential Building Construction 111
Sector Outlook 112
Circuit Breaker and Fuse Demand 114
Machinery 116
Industry Outlook 117
Circuit Breaker and Fuse Demand 119
Electronic Equipment 121
Industry Outlook 122
Circuit Breaker and Fuse Demand 126
Residential Building Construction 129
Sector Outlook 130
Circuit Breaker and Fuse Demand 132
Nonautomotive Transportation Equipment 135
Industry Outlook 136
Circuit Breaker and Fuse Demand 138
Automotive 140
Industry Outlook 141
Circuit Breaker and Fuse Demand 144
Electrical Equipment 147
Industry Outlook 148
Circuit Breaker and Fuse Demand 150
Other Markets 151

VIII. INDUSTRY STRUCTURE 153

General 153
Industry Composition 154
Market Share 157
Competitive Strategies 162
Product Development and Manufacturing 163
Marketing and Distribution 165
Mergers and Acquisitions 167
Company Profiles 170
AB Chance, see Hubbell
ABB Limited 171
ADC Telecommunications, see TE Connectivity
AVX, see Kyocera
Bel Fuse Incorporated 175
Bourns Incorporated 176
Carling Technologies Incorporated 178
Cooper Industries, see Eaton
Cutler-Hammer Electrical, see Eaton
E-T-A Elektrotechnische Apparate GmbH 180
Eaton Corporation plc 182
Fuji Electric FA Components and Systems, see Fuji Electric
Holdings and Schneider Electric
Fuji Electric Holdings Company Limited 189
GandW Electric Company 191
General Electric Company 192
Hitachi Limited 195
Hubbell Incorporated 198
Kyocera Corporation 199
L-3 Communications Corporation 201
Littelfuse Incorporated 203
Mersen SA 206
Mitsubishi Electric Corporation 208
Moeller Electric, see Eaton
Powell Industries Incorporated 210
SandC Electric Company 212
Schneider Electric SA 213
Schurter AG 216
Sensata Technologies Holding NV 218
Siemens AG 221
SPD Electrical Systems, see L-3 Communications
TE Connectivity Limited 224
Terra Power Systems, see Littelfuse
Thomas and Betts, see ABB



LIST OF TABLES

SECTION I -- EXECUTIVE SUMMARY

Summary Table 3

SECTION II -- MARKET ENVIRONMENT

1 Macroeconomic Indicators 9
2 Manufacturers' Shipments 13
3 Private Fixed Investment by Sector 17
4 Construction Expenditures 19
5 Circuit Breaker and Fuse Price Deflators 21
6 Circuit Breaker and Fuse Market, 2002-2012 23

SECTION IV -- OVERVIEW

1 Circuit Breaker and Fuse Supply and Demand 48
2 World Demand for Circuit Breakers and Fuses by Region 51
3 US Foreign Trade in Circuit Breakers and Fuses 54
4 US Circuit Breaker and Fuse Imports by Source 55
5 US Circuit Breaker and Fuse Exports by Destination 57

SECTION V -- CIRCUIT BREAKERS

1 Circuit Breaker Supply and Demand 62
2 Molded Case Circuit Breaker Supply and Demand 67
3 Industrial Molded Case Circuit Breaker Demand 68
4 Light-Duty Molded Case Circuit Breaker Demand 70
5 Specialty Molded Case Circuit Breaker Demand 73
6 Power Circuit Breaker Supply and Demand 76
7 Circuit Breaker Part and Accessory Supply and Demand 78

SECTION VI -- FUSES

1 Fuse Supply and Demand 84
2 High-Power Fuse Demand 87
3 Cartridge and Plug Fuse Demand 90
4 Electronic Fuse Demand 94
5 Other Fuse Demand 96
6 Fuse Part and Accessory Demand 97

SECTION VII -- MARKETS

1 Circuit Breaker and Fuse Demand by Market and Application 103
2 Electric Power Indicators 108
3 Electric Power Market for Circuit Breakers and Fuses 111
4 Nonresidential Building Construction Expenditures 114
5 Nonresidential Building Construction Market for Circuit
Breakers and Fuses 116
6 Machinery Shipments 119
7 Machinery Market for Circuit Breakers and Fuses 121
8 Electronic and Computer Product Shipments 126
9 Electronic Equipment Market for Circuit Breakers and Fuses 129
10 Residential Building Construction Expenditures 132
11 Residential Building Market for Circuit Breakers and Fuses 135
12 Nonautomotive Transportation Equipment Shipments 138
13 Nonautomotive Transportation Equipment Market for Circuit
Breakers and Fuses 140
14 Motor Vehicle Indicators 144
15 Automotive Market for Circuit Breakers and Fuses 147
16 Electrical Equipment Shipments 150
17 Electrical Equipment Market for Circuit Breakers and Fuses 151
18 Other Markets for Circuit Breakers and Fuses 152

SECTION VIII -- INDUSTRY STRUCTURE

1 Selected Circuit Breaker and Fuse Sales by Company, 2012 156
2 Selected Acquisitions and Divestitures 169



LIST OF CHARTS

SECTION II -- MARKET ENVIRONMENT

1 Circuit Breaker and Fuse Price Deflators, 2002-2022 21
2 Circuit Breaker and Fuse Market, 2003-2012 24

SECTION IV -- OVERVIEW

1 US Circuit Breaker and Fuse Imports by Source, 2012 56
2 US Circuit Breaker and Fuse Exports by Destination, 2012 58

SECTION V -- CIRCUIT BREAKERS

1 Circuit Breaker Demand by Type and Market, 2012 63
2 US Circuit Breaker Market Share, 2012 80

SECTION VI -- FUSES

1 Fuse Demand by Type and Market, 2012 85
2 US Fuse Market Share, 2012 99

SECTION VII -- MARKETS

1 Circuit Breaker and Fuse Demand by Market and Application,
2012 104
2 Increase in Circuit Breaker and Fuse Demand by Market,
2012-2017 105

SECTION VIII -- INDUSTRY STRUCTURE

1 US Circuit Breaker and Fuse Market Share, 2012 158

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