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Electric Fuse Market Size

Report ID: GMI3508
Published Date: Jun 2023
Report Format: PDF

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Electric Fuse Market Size

Electric Fuse Market size surpassed USD 4.3 billion in 2023 and is poised to witness 5.9% CAGR from 2024 to 2032 owing to the increasing demand for electricity on account of rising population, urbanization, and industrialization.

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Governments and regulatory bodies have implemented stringent safety regulations and standards for electrical systems, which further acts as a major industry growth driver. Fuses play a critical role in ensuring the safety and protection of electrical circuits by preventing damage and minimizing the risk of electrical fires and accidents. Compliance with these regulations drives the product demand.

Electric Fuse Market Report Attributes
Report Attribute	Details
Base Year:	2023
Electric Fuse Market Size in 2023:	USD 4.3 billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.9%
2032 Value Projection:	USD 7.2 Billion
Historical Data for:	2019 to 2023
No. of Pages:	880
Tables, Charts & Figures:	1,242
Segments covered:	Voltage, Current Rating, Application, End Use
Growth Drivers:	Growing electrification of automotive industry Rising electric infrastructure spending Refurbishment of existing grid networks Increasing demand for electricity Rising peak load demand
Pitfalls & Challenges:	Volatile raw material cost

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of electric fuse exceeded USD 4.3 billion in 2023 and is projected to witness 5.9% CAGR from 2024 to 2032, owing to the increasing demand for electricity on account of rising population, urbanization, and industrialization.

The 500A current rating electric fuse is anticipated to witness a substantial growth rate of 5.5% through 2032, backed by the expansion of residential establishments worldwide, coupled with improved living standards that has led to an increased demand for home electrical appliances.

Asia Pacific electric fuse revenue will be worth over USD 3 billion by 2032, due to rapidly growing population, increasing demand for continuous & safe supply of electricity, and expansion & interconnection of grid infrastructure.

ABB, Schneider Electric, Eaton, Hubbell, General Electric, C&S Electric Limited, Optifuse, Siemens, Panasonic Industry Co., Ltd., KYOCERA AVX Components Corporation, and Mitsubishi Electric Corporation among others.