Global Electric Fuse Market Size, Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, Netherlands, China, India, Japan, Australia, South Korea, Thailand, Indonesia, Saudi Arabia, UAE, Iran, South Africa, Brazil, Mexico) Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
Report ID: GMI3508
Global Electric Fuse Market will witness growth on account of increasing demand for renewable energy generation & distribution, energy storage and positive outlook toward construction industry. Rising investments in Transmission and Distribution (T&D) infrastructure plans coupled with revival of funds in the development of buildings will complement the industry outlook. In addition, growing demand for electrical & circuit protection equipment is projected to encourage the product adoption.
Power fuse and fuse link segment is set to grow owing to rising demand for MV fuses, circuit & motor protection and transformers. The product is manufactured from an alloy of copper, silver or tin, and the compartment of fuse links is filled with boric acid. Low re-filling cost and better coordination with T&D networks are two major factors complementing the electric fuse market growth.
Low voltage electric fuse market will grow by 2025. Increasing demand for large scale energy storage along with growing expenditure to protect electric power systems in commercial and residential establishments will strengthen the industry landscape. Wide acceptability to avoid damages owing to excessive current will further drive the product demand. The low voltage fuse range includes cartridge, miniature, plug, PV and link-type fuses.
Asia Pacific electric fuse market is anticipated to grow on account of rising grid investments specifically in developing economies including India and China. As per the International Energy Agency, the coal-based power generation in Southeast Asia grew at an average of 9.8% per annum from 2000 to 2016. Further, improvement in the distribution sector accompanied by the electrification rate will complement the product demand.
Short life span coupled with low replacement cost will drive the utilities electric fuse market growth. According to the U.S. Energy Information Administration (EIA), the investments on circuit protection equipment have grown by 69% over the last decade, thereby creating opportunities for the utilization of electric fuses by the utilities. Increasing safety issues associated with photovoltaic systems & distributed energy resources are prime factors driving product adoption.
Rising demand for advanced in-car systems comprising premium audio systems, innovative driver assistance systems, infotainment classifications, and electronic transmission are the key factors positively influencing the electric fuse market in automotive electronics sector. Electrical gears used in vehicles necessitate the usage of electric fuses for safety of electronic components. In addition, the wide utilization of high-end infotainment systems by luxury vehicle manufacturers will encourage the industry landscape.
Notable participants in global electric fuse market includes ABB, Eaton, Bel Fuse, Mersen, Little Fuse, AVX Corporation, Fuji Electric, Bourns, Mitsubishi Electric, Legrand, Schneider Electric, Siemens and others.
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