Global Electric Fuse Market size was valued at US$ 3.7 Bn in 2019 and is expected to reach US$ 5.36 Bn by 2027 to exhibit a CAGR of 4.76 % during the forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding global electric fuse market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by technology, price, financial position, technology portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in global electric fuse market.
Fuse is an electrical component used to safeguard the electrical components from the high current. The fuse melts and separates if there is an incident of the unnecessary rise in the current flow. In industrial and automotive applications mostly container type fuses are used. Commonly the base material of the fuses is chosen according to the insulating property of the material.
The major factors powering the growth of the electric fuse market are rising investments in renewable and energy storage, growing investments in T&D infrastructure plans, automotive and telecommunication, increased demand for automotive electronics in automotive industry and renewal of investments in the construction sector.
The factors which hamper the growth of the market are increasing prices of raw materials, growing demand for replacements Such as MCBS, MCCBS, and relays and increasing investments in smart grid vision. The key challenges to the growth of the electric fuse market are increasing the use of circuit breakers and delays in grid expansion projects.
Several opportunities are creating in the electric fuse market due to the advancement of the current substations and feeder line safety and implementation of performance-based incentive systems and definite service programs.
Power fuse & fuse link electric fuses are made of a mixture of silver, copper, or tin, and the chamber of fuse links is commonly filled with boric acid, as it has low refilling cost and synchronizes better with transformers and distribution networks. The fuse contacts are designed with high breaking capacity so that the current flows in specific standards. This segment is expected to grow at high speed during the forecast period owing to rising demand for medium voltage fuses in T&D networks, transformers, circuit and motor protection, along with industrial uses and renewable energy generation and delivery.
According to the EIA, in the US, the funds on circuit protection equipment have increased by 69% over the last decade, thus generating opportunities for the usage of electric fuses by the utilities. The demand from utilities for electric fuses is normal because of their short life span and low replaceability cost. The rising safety issues associated with photovoltaic systems and distributed energy resources are other factors driving the demand for electric fuses from the utilities. High voltage fuses are used in the protection of power conversion, while medium and low voltage fuses are used in the distribution of power. The utilities work at a high voltage level at 11 kV, 22 kV, and 33 kV, thus medium voltage electric fuses are chosen.
The industrial end-user segment is expected to hold the largest market share during the forecast period owing to the electric fuses are used to prevent the damage due to the high current. Owing to this feature the industrial equipment widely uses the electric fuses to avoid any damage due to the excessive current. Also, electric fuses are used to protect the wiring and electrical equipment for vehicles. Electronic components used in vehicles require the use of electric fuses for the safety of electronic components. Lately, the adoption of the electric fuse in the transport sector has witnessed incredible progress in both developed and developing nations. In the developed nations, there is a continuous urge to make technological advances, which increase the growth of this sector.
The Asia Pacific is expected to dominate during the forecast period owing to Asian and African countries have made massive investments to develop electricity infrastructure and provide better power to rural areas hence the market is anticipated to witness high growth in these regions. Also growing urbanization and industrialization in developing economies such as India, Indonesia, Malaysia, and others, is expected to further boost the market growth.
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The Scope of the Report Electric Fuse Market
Global Electric Fuse Market, by Type
• Power Fuse & Fuse Link
• Distribution Cutouts
• Cartridge & Plug Fuse
Global Electric Fuse Market, by Voltage
Global Electric Fuse Market, by End-Users
Global Electric Fuse Market, by Region
• North America
• Middle East & Africa
• South America
Key Players operating in the Global Electric Fuse Market
• Schneider Electric
• S&C Electric Company
• Bel Fuse
• G&W Mantracourt Electronics
• Mitsubishi Materials Corporation
• Eaton Corporation
• Panasonic Electronic Devices Co., Ltd.
• Littelfuse, Inc.
• Sano Corporation
• TE Connectivity Ltd.
• Polytronics Technology Corporation
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