Electric Fuse Market Analysis
The electric fuse market size is projected to reach USD 4.26 billion by 2024 from an estimated USD 3.45 billion, at a CAGR of 4.50% from 2019–2024. Electric fuse is a device, which is used to protect load from overcurrent. An electric fuse consists of a metallic filament enclosed either in a ceramic, plastic or glass coating. The filament allows normal flow of current through it but in case of overload, the filament gets heated and breaks to stop the current flow.
An electric fuse is used in an electrical circuit to protect the electrical devices against short circuits and overloads. It is one of the cheapest circuit protection devices to interrupt an electrical circuit. The function of the fuse is to allow the normal current to flow through the fuse and break the circuit when a high magnitude current pass through it.
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The key players of the global electric fuse market are ABB (Switzerland), Eaton (Ireland), Schneider Electric (France), Siemens (Germany), Hubbell (US), Mersen (France), Legrand (France), Bel Fuse (US), S&C Electric Company (US), Little Fuse (US), and G&W Electric (US).
On the basis of voltage, the global market has been segmented into low, medium, and high voltage. The medium voltage segment is the largest segment in the market due to the continuous construction of T&D networks and the high replaceability of fuses. The end users of medium voltage electric fuses are utilities, transformers and substations, distribution networks, and heavy industries.
On the basis of type, the global market is segmented into power fuse & fuse link, distribution cutouts, and cartridge & plug fuse. The power fuse & fuse link segment is expected to dominate the electric fuse market, owing to the rising demand for medium voltage fuses in T&D networks. On the basis of end-use, the global market is segmented into utilities, industrial, residential, and commercial. The utilities segment is expected to dominate the electric fuse market during the forecast period.
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On the basis of region, the global electric fuse market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
The growth of the electric fuse market in Asia-Pacific is driven by many factors including the increasing investments in T&D, resulting in power infrastructure development in the emerging economies of Australia, China, Thailand, and India. Moreover, market players such as Legrand, ABB, and Schneider Electric have signed contracts with industries to provide electric fuse and necessary services. Furthermore, the rising safety concerns associated with photovoltaic systems and distributed energy resources are other factors driving the growth of electric fuse market, globally.
Scope of the Report
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios and strategies in the global electric fuse market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis
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