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Utility Electric Fuse Market Trends

Report ID: GMI7415
Published Date: Nov 2023
Report Format: PDF

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Utility Electric Fuse Market Trends

In recent years, the utility electric fuse industry has witnessed a transformation driven by technological advancements like smart grids, renewable energy integration, and the demand for enhanced grid reliability. There's a notable shift toward high-voltage and medium-voltage fuses, catering to the burgeoning renewable energy sector and the increasing need for grid stability. Additionally, the emphasis on grid modernization, coupled with a growing focus on energy efficiency and safety, is propelling innovations in fuse designs, such as self-healing and fault-tolerant fuses. The market is also experiencing a surge in demand for solid-state and arc-resistant fuses, aligning with the push for safer and more durable electrical infrastructure.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of utility electric fuse was exceeded USD 1 billion in 2022 and is projected observe over 6.5% CAGR from 2023 to 2032, favored by the modernization of power infrastructure worldwide.

The utility electric fuse with current rating between 2000A to 4000A segment was worth USD 600 million in 2022 and is anticipated to showcase 8.5% CAGR from 2023 to 2032 attributed to escalating global need for electricity, coupled with the integration of renewable energy sources like solar and wind power.

Asia Pacific market for utility electric fuse is poised to register 7% CAGR between 2023 and 2032, due to the rapid urbanization, industrialization, and the expansion of power infrastructure across the region.

ABB, Schneider Electric, Eaton, General Electric, S&C Electric Company, Enerlux Power s.r.l., MERSEN, Littelfuse, Inc., SIBA GmbH, Bel Fuse Inc., Fuji Electric FA Components & Systems Co., Ltd., and L&T Electrical & Automation FZE.