LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global fuse holder market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Anju Ajaykumar, a lead analyst from Technavio, specializing in research on tools and components sector, says, “The global fuse holder market is likely to grow at a steady rate during the forecast period. The demand for fuse holders should grow following the expansion of construction activities that is powering urbanization worldwide. In addition, many countries are facing huge costs in the maintenance and repair of outdated power grid infrastructure.”
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The top three emerging trends driving the global fuse holder market according to Technavio research analysts are:
- Growing demand for telecom towers in APAC
- High adoption of automotive electronics
- Rising demand from healthcare sector
Growing demand for telecom towers in APAC
The telecom sector is witnessing continuous growth due to rising cell phone penetration. With the number of subscribers growing year on year, telecom tower installations and advanced services such as 3G and 4G are also increasing. APAC is likely to be a significant contributor to the growth of the global telecom market. China is the largest contributor in the overall telecom sector, with 1.3 billion mobile subscribers and around 1.3 million telecom towers.
“India is the second largest telecom market in APAC. The country has multiple policies that support the growth of its telecom industry. At the end of 2014, the total telecom tower installations in the country stood at 0.62 million. Major contributions for the installations had come from on-grid installations and urban GSM coverage,” according to Anju.
High adoption of automotive electronics
Growing demand for automotive electronics is a major trend that is projected to drive the demand for fuses from the automotive industry during the forecast period. Electronic components used in vehicles necessitate the use of fuses and related products such as fuse holders for the safety of the electronic components. Automotive electronics represent 30%-35% of the total manufacturing costs of a vehicle.
In-vehicle entertainment and information systems are becoming increasingly popular due to the extensive use of high-end infotainment systems by luxury vehicle manufacturers. The in-vehicle entertainment and information system market should grow at a CAGR of 13.97% during the forecast period.
Rising demand from healthcare sector
The fuse and related products form an essential component of electrical system of any residential, commercial, and industrial building. These play a critical role in commercial buildings such as hospital, diagnostic centers, and other healthcare centers. A growth in the number of such centers should boost the demand for fuse and related products such as fuse holders in the coming years.
As a result, these centers are essentially set up with backup power sources, which require fuse to protect the equipment. This is expected to propel demand for fuse and fuse holders. Thus, Technavio analysts observed that the demand for fuse holders is closely related to the performance of the healthcare industry and new constructions taking place.
The key vendors are as follows:
- TE Connectivity
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