Electric Fuse Market Growth Analysis

Market Insights

The Electric Fuse Market is expected to grow from USD 3.16 billion in 2022 to USD 4.01 billion by 2028 at a CAGR of 4.03% during the forecast period.

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What is an electric fuse?

An electric fuse is an electrical safety device with a low melting point of copper or any other metal wire which breaks due to heat caused by overvoltage or high load to provide overcurrent protection of an electrical circuit and avoid short circuits.

Market Dynamics

Some of the key factors expected to accelerate the market growth during the forecast period are increasing electrification of the automotive industry, rising consumer preferences for connectivity and digital sources, increasing electric infrastructure spending, and refurbishment of existing grid networks.

Segments Analysis

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The market is segmented into the following categories-

By Voltage Type

• Low Voltage
• High Voltage

By Current Rating Type

• <500A 
• 500-2000A 
• 2000-4000A 
• >4000A 

By Application Type

• Residential 
• Commercial 
• Industrial 
• Utility 

By End-Use Type

• Power Transformers 
• Electrical Cabling 
• Electrical Appliances 
• Electronic Devices 
• Automotive 
• Others 

By Region

• North America
• Europe 
• Asia-Pacific 
• Rest of the World 

By Voltage Type

The market is segmented into low voltage and high voltage. Low voltage is projected to register strong growth in the market due to its wide range of applications, particularly in automotive and electronics, and its ability to provide reliable protection to electrical installations against overload conditions and short circuit currents. Furthermore, high voltage is estimated to witness significant growth in the market on account of the benefits it provides, such as low maintenance requirements, cost-effective operations, and low installation costs.

By Rating Type

The market is segmented as <500A, 500-2000A, 2000-4000A, and >4000A. The <500A current rating type is estimated to hold the major share of the market during the forecast period. The ongoing expansion of residential establishments around the world, paired with improved living standards, has increased the demand for home electrical appliances, fuelling the growth of the <500 ampere electric fuse market. Because of their increased functionality and compact size, electronic devices are becoming more susceptible to fault conditions, which is likely to drive product adoption even further.  

Furthermore, the >4000 ampere fuse market is expected to grow significantly due to rising demand across utility and industrial applications. The growing use of electrical equipment increases the demand for power protection systems, stimulating product penetration. Additionally, the ability to protect electrical facilities and ensure operational safety will fuel the growth of the segment over the forecast period.

By Application Type

The market is bifurcated into residential, commercial, industrial, and utility. Residential application is projected to account for the major share of the market during the forecast period. Rapid urbanization and commercialization in emerging economies as a result of large-scale suburban migration, as well as favourable regulatory measures ensuring better living conditions for domestic residents, are expected to drive the residential segment’s growth over the forecast period.

The demand for circuit breakers, transformers, solenoids, meters, lighting ballasts, speed drives, and motors is likely to drive significant growth in the industrial electric fuse market. Increasing efforts to prevent thermal damage and catastrophic impact on industrial equipment are expected to promote industry growth in the coming years.

By End-Use Type

The market is segmented as power transformers, electrical cabling, electrical appliances, electronic devices, automotive, and others. Power transformers are expected to dominate the market during the forecast period. The growth of the segment is due to the gradual upgradation and refurbishment of the aging grid infrastructure and the rising need to provide reliable protection for expensive electrical plants.  In addition, automotive is estimated to witness significant growth in the market owing to the increasing electrification of commercial & passenger vehicles and the shifting focus of automakers on advanced propulsion technologies.

Regional Analysis

In terms of regions, Asia-Pacific is estimated to be the leading region in the market during the forecast period. The growth of the region’s market is on account of rising electricity demand, an increasing population, and a shift in government focus toward reducing overload conditions in order to ensure uninterrupted power supply. Furthermore, Europe is expected to experience significant market growth during the forecast period as a result of decentralized energy supply via renewable energy sources, as well as continuous economic recovery across various countries.

Key Players

The following are some of the key players in the electric fuse market:

• ABB Limited
• Bel Fuse Inc.
• C&S Electric Ltd.
• Eaton Corporation Plc
• General Electric
• Hubbell Power Systems Inc
• Littelfuse Inc.
• OptiFuse
• Schneider Electric SE
• Siemens AG.

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s electric fuse market realities and future market possibilities for the forecast period of 2023 to 2028. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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