Electric Fuse Market Highlights
The Electric Fuse Market is expected to reach USD 5.26 billion, with CAGR of over 5.65% during the estimated forecast year of 2022-2030.
Electric fuse is a device, which is used to protect load from overcurrent. An electric fuse consists of a metallic filament enclosed either in a ceramic, plastic or glass coating. The filament allows normal flow of current through it but in case of overload, the filament gets heated and breaks to stop the current flow. The various advantages of electric fuses include simple operation, less operation time compared to circuit breaker, no maintenance, and one of the cheapest types of protection in an electrical circuit.
Asia-Pacific held the largest share of the global electric fuse market
The electric fuse market has been segmented into five regions, which are Asia-Pacific, North America, Europe, Middle East Africa, and South America. In 2018, Asia-Pacific held the largest share of the global electric fuse market, mainly due to the increasing investments in TD network, rising investments in renewable energy sources, demand for automotive electronics, and high growth in construction sector. The region is also expected to be the fastest growing market during the forecast period.
The market in North America is expected to be the second-largest owing to increasing demand for energy and modernization of infrastructure. The US is expected to dominate the North America during the forecast period. Europe is also expected to grow at a significant rate owing to many advanced technologies being introduced by some of the key players in Europe such as Legrand, Schneider Electric, and ABB. Germany is expected to dominate Europe due to the new electric fuse projects, especially designed for automotive systems. Similarly, countries such as Saudi Arabia and Brazil are the two economies, which are expected to dominate the Middle East Africa and South America, respectively.
Key Players
The key players operating in the global electric fuse market are Eaton (Ireland), ABB (Switzerland), Schneider Electric (France), Siemens (Germany), Hubbell (US), Mersen (France), Bel Fuse (US), SC Electric Company (US), Little Fuse (US), Legrand (France), and GW Electric (US).
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Scope of the Report
North America accounts for the largest market share whereas Asia-Pacific is the fastest growing region.
This report provides an in-depth analysis of the global electric fuse market, tracking three market segments across five geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size and share for North America, Asia-Pacific, Europe, the Middle East Africa, and South America. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global electric fuse market by type, voltage, end-use, and region.
Market Segmentation:
- By Type
- Power Fuse Fuse Link
- Distribution Cutouts
- Cartridge Plug Fuse
- By Voltage
- Low
- Medium
- High
- By End-Use
- Utilities
- Industrial
- Commercial
- Residential
- By Regions
- North America
- Asia-Pacific
- Europe
- Middle East Africa
- South America
