Meticulous Research® – leading global market research company published a research report titled “Electric and Electronic Fuse Market by Fuse Type (Power Fuse & Fuse Link, Distribution Cutout, Cartridge & Plug Fuse), Voltage (Low, Medium), and Application (Utilities, Industrial, Residential, Commercial) - Global Forecast to 2025”.
According to this latest publication from Meticulous Research®, the global electric and electronic fuse market is expected to grow at a CAGR of 6.0% from 2019 to reach $5.5 billion by 2025. The global fuse market is majorly driven by factors such as pouring investment for more power generation, strong growth in the electronics industry, and revolutionary reform in the global railway industry. In addition, growing replacements of mechanical components with advanced electronic components and growing investments in renewable energy are further supporting the growth of electric and electronic fuzes market. Moreover, on-going and proposed plans for upgrading existing electrical infrastructure and consistently increasing space programs across the globe provides significant opportunities for the vendors in this market. However, availability of high efficiency substitute for fuse and increasing investment in smart grid restricts the growth of this market to some extent.
The global electric and electronic fuses market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025- by fuse type (power fuse and fuse link, distribution cutout, cartridge and plug fuse, and others), voltage (low, medium, and high), application (utilities, industrial, residential, commercial, transportation, and others), and geography. The study also evaluates industry competitors and analyses the market at regional and country level.
Based on product type, electric fuse segment is estimated to command the largest share of the overall fuse market in 2019, owing to huge consumption of electric fuses in electric transmission and distribution networks, circuit and motor protection, and electronics sector. Also, factors such as increasing per capita energy consumption and growing investment in the power generation sector further supports the growth of electric fuse market.
Based on fuse type, power fuse and fuse links segment is estimated to command the largest share of the electric and electronic fuzes market in 2019. This segment is also expected to witness the fastest growth during the forecast period, attributed to the increasing industrial applications of power fuse and fuse links and growing demand for medium voltage fuses in the transformers, transmission, and distribution networks as well as in the renewable energy generation and distribution.
Based on voltage range, medium voltage segment is estimated to account for the largest share of the overall fuse market in 2019, owing to growing investment in the electricity generation and development of the electricity transmission and distribution network along with the high replaceability of medium voltage fuses.
Based on application, utilities application segment is estimated to command the largest share of the overall fuse market in 2019, owing to increasing investment in the electricity generation, transmission, distribution; and short life span and low replaceability cost of fuses used in utilities segment. Adding to this, utilities segment is expected to be the second fastest growing application segment of the electric and electronic fuse market.
This research report analyzes major geographies and provides comprehensive analysis for North America (U.S., Canada), Europe (Germany,France, U.K., Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan,and RoAPAC), Latin America, and Middle East & Africa. The Asia- Pacific fuse market is developing and expanding at a significant pace. The rapid growth of this market is mainly attributed to factors such as increasing per capita consumption of electricity due to growing urbanization and industrialization, growing construction sector, and growing demand for advanced electric and electronic appliances. Further, strong manufacturing base and rising investment for power generation and development of electricity infrastructure in the developing countries of the region further boosts the growth of electric and electronic fuses market.
The key players operating in the global fuse market are Littelfuse, Inc. (U.S.), ABB Ltd. (Switzerland), Mersen S.A. (France), Schneider Electric SE (France), Bel Fuse Inc. (U.S.), Bourns Inc. (U.S.), SCHURTER AG (Switzerland), Eaton Corporation Plc (Ireland), Siemens AG (Germany), SIBA GmbH (Germany), Conquer Electronics Co., Ltd. (China), EFEN GmbH (Germany), Hollyland (China) Electronic Technology Co., Ltd. (China), Protectron Electromech Pvt Ltd. (India), Xiamen SET Electronics Co. Ltd. (China),Larsen & Toubro Limited (India), G&W Electric Company (U.S.), and Fuji Electric Co., Ltd. (Japan).
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