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Residential Electric Fuse Market Size

Report ID: GMI6163
Published Date: Jul 2023
Report Format: PDF

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Residential Electric Fuse Market Size

Residential Electric Fuse Market size was valued at USD 1.2 billion in 2022 and is anticipated to expand at 5.8% CAGR from 2023 to 2032. The global market for electric fuse is expected to cross a valuation of USD 7.2 billion during the forecast period.

Residential Electric Fuse Market

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Governments and consumers are increasingly focused on energy efficiency and reducing electricity consumption in residential buildings. This drive toward energy-efficient solutions often involves upgrading electrical systems and utilizing modern fuses that can enhance electrical safety and optimize energy usage. In addition, ongoing advancements in fuse technology, including improved materials, enhanced arc flash protection, and better fault detection capabilities, resulting in increased safety, better performance, and improved fault management in residential electrical systems, will further boost the adoption of advanced fuses in residential applications.

Residential Electric Fuse Market Report Attributes
Report Attribute	Details
Base Year:	2022
Residential Electric Fuse Market Size in 2022:	USD 1.2 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5.7%
2032 Value Projection:	USD 2.1 Billion
Historical Data for:	2019 to 2022
No. of Pages:	350
Tables, Charts & Figures:	456
Segments covered:	Voltage, Application
Growth Drivers:	Growing electricity demand from residential sector Rising electric infrastructure spending Stringent government policies for electrical safety Rising peak load demand
Pitfalls & Challenges:	Volatile raw material cost

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The growing espousal of electronic devices drives the demand for low-voltage electric fuses in residential applications. Moreover, the worldwide shift towards renewable energy sources, such as solar and wind power, necessitates effective protection of residential electrical systems. Residential electric fuses play a crucial role in ensuring the safe and reliable operation of inverters, converters, and other equipment used in renewable energy systems. As the renewable energy sector continues to expand, the residential electric fuse market demand in the near future.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of residential electric fuse reached USD 1.2 billion in 2023 and is expected to register 5.7% CAGR from 2024 to 2032, backed by the surge in residential construction activities that require electrical infrastructure.

Residential electric fuse industry from single family will register over 4.5% growth rate between 2023 and 2032, attributable to the rising construction of single-family houses in many regions, driven by population growth, urbanization, and housing demand.

Asia Pacific residential electric fuse sector is anticipated to cross USD 950 million by 2032 on account of the ongoing urbanization and population growth in the countries in the region.

Bel Fuse Inc., EFEN Fuses, SIBA Fuses, LLC, Siemens, McGraw Edison Fuses, KYOCERA AVX Components Corporation, Legrand, Eaton, SCHURTER Global, Mersen EP, Fuji Electric FA Components & Systems, Optifuse, and General Electric.