Electric Fuse Market to Witness Growth Acceleration During 2019-2025
Increasing regulatory focus toward low emission producing vehicles along with ongoing advancements in the automotive sector will boost the electric fuse market. Huge potential of circuit protection devices across commercial vehicles driven by growing consumer inclination for digital sources and connectivity will accelerate the industry growth. Furthermore, growing demand for miniaturization, propagation of portable telecommunication & computing devices will stimulate the product adoption.
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Base Year: 2018
Historical Data for: 2014 to 2018
Forecast Period: 2019 to 2025
Pages: 844 Tables,
Charts & Figures: 1893
Rising demand for consumer electronics and white goods driven by increasing per capita income coupled with growing need for the protection of complex battery packs utilized across a spectrum of portable products will propel the low voltage electric fuse demand. In addition, ability to provide reliable protection to signal circuits and electrical installations against short circuit & current overload events will stimulate the product penetration. Increasing utilization of convenience systems in vehicles including air conditioners, automatic controllers, and various onboard devices driven by ongoing advancements in the electric mobility will further complement the industry landscape.
Enhanced efforts to mitigate power blackouts and ensuring effective electrical distribution favored by growing proclivity of utilities toward cost effective power protection equipment will drive the high voltage electric fuse demand. Furthermore, rising focus toward upgradation & refurbishment of the ageing power infrastructure to ensure grid security & reliability complement the business outlook.
Ongoing interconnection & expansion of the existing grid infrastructure in conjunction with robust electricity demand from the residential & commercial establishments will boost the Asia Pacific electric fuse market. Growing government emphasis toward ensuring reliable & uninterrupted power supply coupled with efforts to eliminate the monetary losses incurred from prolong power blackouts & downtime of facilities will propel the industry dynamics. Furthermore, favorable tax incentive schemes to support the adoption of electric vehicles aligned with enhanced efforts of automakers to introduce advanced technologies in the EVs will positively influence the business scenario.
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Robust demand for protection equipment across transformers, solenoids, circuit breakers, speed drives, lightning blasts, meters and motors will accelerate the industrial electric fuse market growth. Propensity to reduce the cost incurred for repairing the expensive power equipment by avoiding the fire hazards and other catastrophic failures will complement the demand for indispensable overload protection devices. Moreover, limited maintenance requirements, high breaking capacity and long-term reliability are some of the prominent parameters that will surge the product adoption.
Eminent players in the electric fuse market consists of ABB, Littelfuse, Eaton, Schneider, Mitsubishi, Fuji, Panasonic, Legrand, General Electric, Siemens, Pacific Engineering, Edison Fusegear, TE Connectivity, Hubbell, Bel Fuse, AVX, Mersen, Larsen & Toubro, C&S Electric, amongst others.
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