North America Europe Medium Voltage Fuse Market

North America & Europe Medium Voltage Fuse Market Size

According to a recent study by Global Market Insights Inc., the North America & Europe medium voltage fuse market was estimated at USD 790.4 million in 2024. The market is expected to grow from USD 831.4 million in 2025 to USD 1.39 billion in 2034, at a CAGR of 5.9%.

• The continuous development of commercial facilities in line with the ongoing upgrades to existing power grid infrastructure will strengthen the industry momentum. The rapid modernization of utility distribution networks coupled with the integration of renewable energy projects will bolster business outlook.
  
• A medium voltage fuse is a protective electrical device designed to interrupt overcurrent in systems. These fuses protect transformers, motors and switchgear from faults such as short circuits or overloads by melting their internal element and disconnecting the circuit when current exceeds safe levels.
  
• For reference, in January 2025, the U.S. Department of Transportation’s Federal Highway Administration allocated USD 635 million to support zero-emission refueling initiatives and expand infrastructure for electric vehicle charging and alternative fuels.
  
• The expansion of electric vehicles charging infrastructure in tandem with rising urban electrification requirements will fuel the industry outlook. The replacement of aging transmission and distribution assets paired with increased investment in smart grid technologies will drive business growth.
  
• The growing focus on energy efficiency in association with stricter safety and reliability standards will foster industry potential. The deployment of distributed energy resources together with microgrid installations will augment the business dynamics. The rising demand for resilient power infrastructure coupled with advanced protection solutions will spur the demand for electric fuses.
  
• For illustration, in the first half of 2024, the U.S. added around 14.1 GWh of energy storage capacity to its electric grid part of a broader push to advance storage technologies that improve grid reliability, manage peak demand, and support the shift to a low-carbon power system.
  
• The integration of digital substations in tandem with intelligent monitoring systems will accelerate industry growth. The rapid increase in data center construction, paired with the expansion of industrial automation, will strengthen the product adoption.
  
• The growing deployment of compact switchgear solutions in association with advanced fuse coordination mechanisms will bolster industry growth. The surge in renewable capacity additions together with fluctuating grid inrush demands will escalate product demand.
  
• For citation, in 2024, the Biden-Harris Administration’s Investing in America initiative saw the Department of Energy commit USD 2.2 billion to eight grid infrastructure projects spanning 18 states.
  
• The emphasis on selective fault protection in tandem with greater adoption of current-limiting fuses will proliferate business growth. The ongoing trend toward modular switchgear along with quick-replacement fuse technologies will positively sway the industry momentum.
  
• The continuous rise of electrification across manufacturing sectors in line with tandem with demand for secure fault protection will drive the demand for medium voltage fuse. The increasing reliance on hospital, healthcare, and mission-critical facilities coupled with uninterrupted power supply measures will foster business outlook.
  
• For citation, in July 2025, E.ON has launched a major procurement initiative to accelerate Germany’s energy transition, securing long-term contracts with German and European suppliers for key components to upgrade and expand grid infrastructure. The total procurement exceeds USD 7.03 billion.
  
• The North America & Europe medium voltage fuse market was valued at USD 684 million in 2021 and grew at a CAGR of over 5% through 2024. The shift toward lifecycle management strategies together with predictive maintenance practices will contribute to business growth.
  
• The proliferation of decentralized renewable installations coupled with the requirement for bi-directional fault protection will fuel industry momentum. The escalating demand for public transport electrification paired with reliable medium-voltage protection systems will bolster the product deployment.
  

North America & Europe Medium Voltage Fuse Market Trends

• The increasing protection of renewable energy sources in line with the continuous growth of onshore and offshore wind farms will foster industry dynamics. The rising need to secure photovoltaic installations in tandem with expanding community solar projects will bolster the business landscape.
  
• The surge in grid-connected battery energy storage paired with the integration of inverter-based resources will fuel the industry scenario. The requirement for fault coordination in renewable-heavy zones coupled with fluctuating short-circuit currents will augment the business outlook.
  
• For reference, in September 2025, Siemens Energy is investing nearly USD 257.77 million to expand its transformer facility in Nuremberg, Germany, generating 350 new jobs.
  
• The escalating demand for reliable & continuous electricity in line with surging data center construction will drive the product installation. The expansion of healthcare and life sciences infrastructure in tandem with uninterrupted power needs will augment industry’s momentum.
  
• The rise of digital economies paired with constant telecommunication network upgrades will positively influence business potential. The increase in electrification of transport in association with 24*7 grid reliability will spur industry dynamics. The growth of cloud computing and edge networks coupled with power-intensive servers will accelerate the business growth.
  
• For instance, as of 2023, the U.S. has 16 GW of utility-scale battery capacity from operational and planned systems. Developers aim to add 15 GW in 2024 and about 9 GW in 2025. Additionally, over 300 projects are expected to go live by end-2025, with half located in Texas.
  
• The ongoing refurbishment & retrofit of existing power networks in line with replacing aging substations will energize the deployment of medium voltage fuse. The modernization of underground cabling in tandem with urban redevelopment projects will proliferate the business potential.
  
• The retrofitting of overhead lines paired with advanced fault mitigation systems will augment industry scenario. The replacement of outdated expulsion fuses in association with current-limiting alternatives will drive business growth. The incorporation of smart sensors together with condition-based maintenance will strengthen industry dynamics.
  

North America & Europe Medium Voltage Fuse Market Analysis

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• Based on product type, the industry is segmented into current limiting fuses and expulsion fuses. The current limiting fuses market holds a share of 63.9% in 2024 and is expected to grow at a CAGR of over 5.5% through 2034. The rising integration of renewable energy systems in line with the demand for fast-acting protection devices will escalate industry momentum.
  
• The increasing complexity of distributed generation in association with short-circuit current variability will fuel business dynamics. The adoption of compact switchgear solutions paired with current-limiting fuse compatibility will augment industry growth.
  
• For reference, in April 2024, Hitachi Energy announced investments exceeding USD 1.5 billion to scale up global transformer production capacity, meeting rising demand and supporting long-term electrification and infrastructure goals.
  
• The expulsion fuses based medium voltage fuse market was evaluated at USD 285.6 million in 2024. The ongoing refurbishment of distribution lines in association with the widespread use of overhead systems will bolster the business landscape. The expansion of suburban distribution networks along with pole-mounted transformers will spur industry potential.
  
• Based on application, the industry is segmented into transformers, capacitors, motor starters/motor circuits, switchgear, cables & distribution lines, reclosers, feeder circuits, battery energy storage systems, and others.
  
• The transformers medium voltage fuse market will witness a growth rate of over 5.5% from 2025 to 2034. The integration of renewable generation in line with increasing transformer deployments will escalate business outlook. The replacement of aging transformer fleets in association with current-limiting fuse requirements will foster business growth.
  
• The switchgear segment market is set to reach over USD 200 million by 2034. The modernization of utility distribution coupled with switchgear upgrades is driving the demand for reliable and efficient components. The adoption of compact metal-clad switchgears in tandem with factory-installed fuse protection will drive business growth.
  
• For illustration, in August 2025, Schneider Electric has entered a long-term framework agreement with E.ON to deliver SF?-free medium-voltage (MV) switchgear across E.ON’s European network.
  
• The cables & distribution lines segment market was valued at USD 87.7 million in 2024. The refurbishment of aging overhead lines in line with enhanced fault protection will fortify business outlook. The expansion of underground cabling and the rise of urbanization growth paired with compact fuse assemblies will fuel product demand.
  
• The capacitors segment holds a market share of 10.2% in 2024. The increasing adoption of capacitor banks together with reactive power compensation needs will propel the business dynamics. The expansion of renewable-heavy grids coupled with voltage stabilization requirements will spur industry momentum.
  
• For instance, in September 2025, ICG announced the final close of its second European Infrastructure fund. ICG Infrastructure Fund II (“ICG Infra II”) secured USD 3.69 billion in commitments more than double the size of its predecessor, ICG Infrastructure Equity I (“ICG Infra I”), which closed at USD 1.76 billion in 2022.
  
• The motor starters/motor circuits medium voltage fuse market will witness a growth rate of over 6% from 2025 to 2034. The rise of industrial automation coupled with motor-driven process expansion will escalate industry growth. The adoption of backup fuses in tandem with motor starter protection will fuel business momentum.
  
• The reclosers medium voltage fuse market is set to reach over USD 100 million by 2034. The emphasis on minimizing outage durations together with fuse-recloser coordination will augment industry growth. The expansion of distribution automation systems along with recloser protection will positively sway the business prospects.
  

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• Based on distribution channel, the industry is segmented direct sales and indirect sales. The indirect sales dominate the market with 67.4% share in 2024 and is anticipated to grow at a CAGR of over 5.5% from 2025 to 2034. The rising penetration of regional distributors in association with localized demand for medium voltage fuses will drive the product demand.
  
• The increasing reliance on multi-brand product portfolios paired with broad distributor reach will energize the product deployment. The expansion of aftermarket fuse replacement coupled with distributor-led services will spur the industry potential.
  
• For citation, in August 2025, Prime Capital AG shared an update on its infrastructure debt strategy, focusing on the Prime Sustainable Infrastructure Debt Fund (PSIDEF).
  
• In addition, under the InvestEU programme, the European Investment Fund (EIF) has committed USD 35.15 million to PSIDEF, supporting specialised financing for SME developers and advancing decarbonisation, energy efficiency, and inclusive infrastructure access.
  
• The direct sales medium voltage fuse market was valued at USD 257.5 million in 2024. Rising demand for technical consultation services coupled with direct supplier engagement will stimulate industry dynamics. The development of long-term supply contracts in tandem with strategic alliances between fuse manufacturers and utilities will escalate business growth.
  

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• The U.S. dominated the medium voltage fuse market in North America with USD 347.1 million in 2024. The rising modernization of distribution networks in line with growing renewable integration will bolster business outlook. The expansion of utility-scale solar and wind projects coupled with the need for advanced fault detection will spur industry landscape.
  
• The North America medium voltage fuse market will project at a CAGR of over 5.5% through 2034. The increasing focus on regional energy independence in association with renewable energy adoption will propel the product demand across the region. The rising demand for grid stability along with cross-border interconnection upgrades will spur the industry scenario.
  
• For reference, in 2024, the U.S. FERC reported that annual spending by major utilities to generate and deliver electricity surged to USD 320 billion in 2023, 12% higher than the USD 287 billion recorded in 2003.
  
• The Europe medium voltage fuse market was valued at USD 371.2 million in 2024. The rising focus on clean energy transition in line with EU decarbonization targets will energize the need for reliable and efficient fuse units. The ongoing replacement of conventional grid assets in tandem with advanced fault protection systems will contribute industry momentum.
  
• The UK medium voltage fuse market will exceed USD 150 million by 2034. The ambitious net-zero roadmap along with accelerated renewable integration will bolster industry growth. The expansion of offshore wind capacity coupled with transmission reinforcement projects will energize business trajectory.
  
• For instance, in July 2025, Quebec-based global investment firm La Caisse announced its plan to invest up to USD 1.99 billion in Sizewell C, a 3.2GW nuclear power plant located in the East of England.
  
• The Germany medium voltage fuse market will witness a growth rate of over 6% till 2034. The modernization of medium voltage substations along with selective protection practices will drive the business landscape. The installation of industrial automation solutions coupled with continuous supply reliability will accelerate industry potential.
  

North America & Europe Medium Voltage Fuse Market Share

• The top 5 companies in the North America & Europe medium voltage fuse industry are Eaton, ABB, Schneider Electric, Littelfuse, and Siemens, contributing around 48% of the market in 2024.
  
• Eaton holds a strong position in the market by leveraging its deep industrial relationships and broad product portfolio. Known for its current-limiting fuses, Eaton benefits from direct sales channels that ensure reliable supply to utilities and industrial clients. Its focus on safety, sustainability, and digital integration such as smart fuse monitoring aligns with regional trends in grid modernization and renewable energy adoption.
  
• ABB is a key player in Europe’s medium voltage fuse market, supported by its expertise in power systems and automation. The company’s fuses are widely used in transformer protection and renewable energy applications. ABB’s strength lies in its integration of fuse technologies within broader smart grid and industrial automation solutions.
  
• Schneider Electric commands a notable share in both North America and Europe, driven by its emphasis on eco-friendly and digitally enabled fuse solutions. The company faces regulatory challenges in Europe due to sustainability mandates but continues to innovate with IoT-integrated fuse monitoring systems.
  
• Littelfuse is a prominent U.S.-based manufacturer with a growing footprint in the medium voltage fuse segment. Its strength lies in current-limiting fuses, which dominate the market due to their reliability in high-voltage applications. Littelfuse benefits from direct sales and long-standing relationships with industrial clients.
  
• Siemens plays a strategic role in Europe’s medium voltage fuse market, particularly in Germany, where its advanced fuse technologies support the Energiewende initiative. The company integrates AI and IoT into fuse monitoring, enhancing predictive maintenance and grid reliability. Siemens leverages its digital platforms to strengthen direct sales and customer engagement.
  

North America & Europe Medium Voltage Fuse Market Companies

• In the second quarter of 2025, ABB reported strong performance with orders totaling USD 9,785 million, up 16% year-over-year (14% on a comparable basis), and revenues reaching USD 8,900 million, an 8% increase (6% comparable). The company posted income from operations of USD 1,573 million, reflecting a 17.7% margin, while operational EBITA stood at USD 1,708 million, with a margin of 19.2%.
  
• In the second quarter of 2025, Eaton reported record quarterly sales of USD 7 billion, up 11% from quarter 2, 2024, driven by 8% organic growth, 2% from acquisitions, and 1% from favorable currency translation. Segment margins reached 23.9%, marking a second-quarter record and a 20-basis point improvement over the same period last year.
  
• In the second quarter of 2025, GE Vernova reported orders of USD 12.4 billion, reflecting 4% organic growth, driven by sustained demand in Power and Electrification. Revenue reached USD 9.1 billion, up 11% overall and 12% organically, supported by growth in both equipment and services.
  

Major players operating in the North America & Europe medium voltage fuse market are:

• ABB
• 2M Electric Group
• Bel Fuse
• Bourns
• DF Electric
• Eaton
• Fuji Electric
• Fuseco
• GE Vernova
• Hitachi Energy
• Hubbell
• Larsen & Toubro Limited
• Legrand
• Littelfuse
• LS Electric
• Mersen
• Mitsubishi Electric
• Powell Industries
• S&C Electric Company
• Schneider Electric
• SIBA GmbH
• Siemens
  

North America & Europe Medium Voltage Fuse Industry News

• In April 2025, Eaton expanded its circuit protection portfolio with the launch of advanced pyro fuses, including a dual-trigger version, designed to enhance EV safety and reliability. The fuse featured a backup trigger for passive short-circuit interruption, providing an added layer of protection. Eaton integrated this with its Bussmann EV fuses rated up to 1,400 amps and 1,000 volts, and Breaktor technology, offering ultra-fast actuation and resettable functionality for high-voltage EV applications.
  
• In March 2025, ABB committed USD 120 million to expand its U.S. manufacturing footprint, targeting growth in sectors like data centers, buildings, and utilities. The company allocated USD 80 million to a new facility in Selmer, Tennessee, creating 50 jobs, and invested USD 40 million to double capacity in Senatobia, Mississippi, adding 200 jobs. This move followed over USD 500 million in U.S. investments over the past three years.
  
• In March 2025, Schneider Electric expanded its Duna Smart Power Systems (DSPS) smart factory in Dunavecse with a USD 50 million investment, adding an 18,000-square-meter facility. The move aimed to introduce various medium and low-voltage distribution equipment manufacturing at the site and support flexible capacity scaling in line with market demand. Moreover, the facility incorporated advanced automation and digital technologies to enhance operational efficiency and aligns with Schneider’s sustainability and smart manufacturing goals.
  
• In June 2024, Hitachi Energy announced an additional USD 4.5 billion investment through 2027 to expand its capabilities in manufacturing, engineering, digitalization, R&D, and strategic partnerships. The move aimed to double its prior three-year investment and support growing demand across the electrification segment. Around USD 330 million was allocated to expand operations in Sweden. The company aimed to accelerate the global clean energy transition and strengthen the electric infrastructure to meet rising decarbonization and electrification needs.
  

The North America & Europe medium voltage fuse market research reports include in-depth coverage of the industry with estimates & forecast in terms of volume (‘000 Units) & revenue (USD Million) from 2021 to 2034, for the following segments:

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Market, By Product Type

• Current limiting fuses
• Expulsion fuses

Market, By Application

• Transformers
• Capacitors
• Motor starters/motor circuits
• Switchgear
• Cables & distribution lines
• Reclosers
• Feeder circuits
• Battery energy storage systems
• Others

Market, By Distribution Channel

• Direct sales
• Indirect sales

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain