Electric Fuse Market size generated a revenue of USD 3.4 billion in 2021 and is forecast to reach USD 5.0 billion in 2029, exhibiting a CAGR of 5.1% over the forecast period (2022-2029), owing to the increasing inclination towards connectivity and digital sources across the automotive industry.

To have an edge over the competition by knowing the market dynamics and current trends of “Electric Fuse Market”, request for Sample Report here

Key Drivers

The factors driving the global electric fuse market include the rising demand for electric fuses in various verticals like automotive, healthcare, and energy. For instance, according to JEITA (Japan Electronics and Information Technology), the production of global electronic and information technology, industries of IT technologies are anticipated to rise by 7% by the end of 2021. In addition, growing awareness among consumers for electric fuses as comprehensive circuit protection in Battery Energy Storage Systems followed by with the rising adoption of renewable and electric storage has further pushed the market’s overall growth. Furthermore, increasing demand for electric vehicle has augmented the market growth. For instance, as per the report published by IEA, the sales of electric car increased from 1.5 million to 2.1 million globally from 2018 to 2019, respectively. Factors such as the growing demand for electricity, increasing investments in the power sector, and strict government regulations are projected to strengthen the market size over the upcoming years. Increasing investments in the power sector to cater the growing demand for electricity, will propel the market growth. The increasing regulatory emphasis to encourage emission reduction in vehicles and the development of electric & hybrid vehicles will improve the market growth. Ongoing advancements in the grid systems to induce stability of electrical power driven by growing demand from expanding residential & industrial sector will further stimulate the product demand.

Restraint in the Electric Fuse Market

However, an electric fuse is an obsolete technology due to which adoption of other energy efficient alternate like MCB’s has taken place, which is likely to hamper the overall growth of the market over the forecast period.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

By Type- Segment Analysis

Based on the type, AC fuses are expected to grow at a higher CAGR in the global electric fuse market. The factor that attributes the growth is the use of AC fuses in transmission and distribution infrastructure. For instance, in 2021, “China Power International Development Limited” announced China power amounted to a 23.4 % growth from 5.6% in 2020, which is likely to surge the demand of AC fuse in the energy distribution phase, despite the pandemic impact. Some of the leading players are involved in offering fuse through wide range of product portfolios. For instance, Siemens offers fuses via “VersiCharge AC Series”. This shows the high potential and demand for fuses, leading to the expansion of the market’s overall growth.

Voltage range- Segment Analysis

Based on the voltage range, the medium voltage can examine a higher growth rate at the global electric fuse market based due to cost-effectiveness and easy replaceability. The major end-user of medium voltage fuses are electric utilities, substations, and transformers. Schneider Electric, ABB, Mersen, Eaton, G&W are some companies offering medium voltage fuses.

Low voltage electric fuse market will experience a significant growth over the upcoming years because of the high suitability across electronics & automotive industry. The ability to offer complete protection to electrical installations and signal circuits against short circuit current will strengthen the segment size.

End users- Segment Analysis:

The residential segment is expected to grow at higher CAGR in the electric fuse market over the forecast period due to a higher replaceability rate because of lesser life span, and cost-effectiveness. The fuses that are used in residential are household power fuses, protecting equipment against aggressive failure. Residential fuses are of different types like T type, S type, and cartridge type at the same time, they are less expensive and can be easily replaceable. These factors have majorly driven the growth of the segment.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Free Customization here

Regional – Segment Analysis:

Asia Pacific region is witnessed to grow at a higher CAGR in the global electric fuse market owning to the vehicle’s infrastructure in this region is on the verge of getting electrified. In 2020, according to MIT Energy Initiative, China imposed a mandate on automakers requiring electric vehicles make up 40% of all sales by 2030.This also creates opportunities for electric fuse in the Asia pacific railway and traction segment. Moreover, increasing demand of renewable-based power generation. For instance, according to International Energy Agency, Solar PV development continues to continue break records reaching 162 GW, almost 50% higher than pre-pandemic level and global wind capacity increased more than 90% in 2020 to reach 162 GW driving the fuse market demand in the region. North America is expected to witness a higher CAGR over the upcoming years, owing to the increasing digitization. The presence of leading giants such as Facebook, Google, Twitter, Apple, Amazon, etc. in the United States has augmented the demand for reliable electricity, driving the adoption of electric fuse. The government has introduced several projects to replace the existing old substations in order to improve the transmission and distribution network and various authorities are implementing safety features in electric utility to avoid damages and loss of life, which will expand the demand for electric fuses in North America.

Top Market Players

Various notable players operating in the market include Littelfuse, Eaton, Schurter, Keystone Electronics, TE Connectivity, Schneider Electric, Phoenix Contact, Grayhill, Shin Chin, Alltech, and others.

Key Developments:

• • In 2020, MTA strategically announced the collaboration with Ashok Leyland for electronic components like fuses for trucks and buses in India, which helped the company in strengthening the presence in Asia through India.

Segments covered in the Report:

The global electric fuse market has been segmented based on type, voltage range, end-user, and regions. Based on type, the market is segmented into power fuse and fuse links, distribution cut out, plug fuse and others. Based on voltage range, the market is segmented into low voltage, medium voltage, and high voltage. Based on end-user, the market is segmented into utilities, residential and commercial. 

For detailed scope of the “Electric Fuse Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is global electric fuse market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in electric fuse Market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global electric fuse market?
  • Which type generated maximum revenues in 2020 and identify the most promising type during the forecast period?
  • What are the various voltage range areas of global electric fuse market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Revenues (2021)	USD 3.4 Billion
Market Base Year	2021
Market Forecast Period	2022-2029
Base Year & Forecast Units	Revenues (USD Billion)
Market Segment	By Type, By Voltage Range, By End-User, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Littelfuse, Eaton, Schurter, Keystone Electronics, ABB Ltd, Schneider Electric, Mersen, Grayhill Inc, Fuji Electric Co ltd, Altech Corp, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Electric Fuse Market by Type

• • AC Fuse
  • DC Fuse

Global Electric Fuse Market by Voltage Range

• • High voltage
  • Medium voltage
  • Low voltage

Global Electric Fuse Market by End-User

• • Residential
  • Commercial
  • Utilities

Global Electric Fuse Market by Region

• • North America Electric Fuse Market (Option 1: As a part of the free 25% customization)
    • North America Electric Fuse Market by Type
    • North America Electric Fuse Market by Voltage Range
    • North America Electric Fuse Market by End-User
    • US Electric Fuse Market All-Up
    • Canada Electric Fuse Market All-Up
  • Europe Electric Fuse Market (Option 2: As a part of the free 25% customization)
    • Europe Electric Fuse Market by Type
    • Europe Electric Fuse Market by Voltage Range
    • Europe Electric Fuse Market by End-User
    • UK Electric Fuse Market All-Up
    • Germany Electric Fuse Market All-Up
    • France Electric Fuse Market All-Up
    • Spain Electric Fuse Market All-Up
    • Rest of Europe Electric Fuse Market All-Up
  • Asia-Pacific Electric Fuse Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Electric Fuse Market by Type
    • Asia-Pacific Electric Fuse Market by Voltage Range
    • Asia-Pacific Electric Fuse Market by End-User
    • China Electric Fuse Market All-Up
    • India Electric Fuse Market All-Up
    • Japan Electric Fuse Market All-Up
    • Rest of APAC Electric Fuse Market All-Up
  • RoW Electric Fuse Market (Option 4: As a part of the free 25% customization)
    • RoW Electric Fuse Market by Type
    • RoW Electric Fuse Market by Voltage Range
    • RoW Electric Fuse Market by End-User
    • RoW Electric Fuse Market by
    • Brazil Electric Fuse Market All-Up
    • South Africa Electric Fuse Market All-Up
    • Saudi Arabia Electric Fuse Market All-Up
    • UAE Electric Fuse Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Electric Fuse Market All-Up

Major Players Operating in the Electric Fuse (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Littelfuse
  • Eaton
  • Schurter
  • Keystone Electronics Corp
  • ABB
  • Schneider Electric
  • Mersen
  • Grayhill Inc
  • Fuji Electrics Co ltd
  • Altec Corp