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Slow recovery forecast for wholesale market

The electrical wholesale market is slowly returning to health as some end use markets begin to recover and trading conditions slowly improve, AMA Research said in its latest report.

But, with current forecasts for construction output and for the economy in general suggesting an inhibited sector, the electrical wholesaler market is likely to be negatively affected by a reduction in large projects going to tender and the spending cuts announced for the public sector.

Recovery is therefore delayed until 2012, with the forecast of a small decline for this year as a whole.

"From 2013 onwards, the market is expected to display average growth levels of 4-5% resulting in a market value in 2015 forecast at £3,268m, representing a 9% increase on 2010," AMA Research wrote.

"Growth will be driven by product development such as renewable energy solutions, the improving economy and a number of new government measures related to energy efficiency as well as other policy areas, taking effect."

In 2010, the market was estimated to be worth £2,997m. This represents a decline of 15% on 2008.

Cables, circuit protection and switchgear and lighting remain the largest product sectors within the electrical wholesale market, accounting for an estimated 54% of the value of products sold.

Product sectors experiencing relatively good performance in the current market include security & fire systems, controls and test equipment, with growth driven by increasingly tight legislation.

The cables market has also experienced growth primarily due to higher raw material prices. In general, product prices have increased with the additional driver of higher cost of imports, due to the current weakness of the sterling.

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