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Residential Electric Fuse Market Trends

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

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Residential Electric Fuse Market Trends

In recent years, the residential electric fuse industry has experienced significant demand growth due to increasing concerns regarding electrical device and appliance safety. Ongoing technological advancements in electric fuses have driven the replacement of traditional fuses with newer and more reliable models. The sector has seen a rise in the acceptance of smart fuses that offer advanced features like fault detection, self-diagnosis and remote monitoring capabilities. These smart fuses enable real-time monitoring of electrical parameters, enhance system reliability, and provide insights for predictive maintenance. This contributes to improved operational efficiency and boosts product adoption globally.

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.