Electric Fuse Market is Rapidly Growing with Huge Application Scope & Opportunities by 2025 | Legrand, Hubbell, AVX, Edison Fusegear, Bel Fuse, Mersen
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With ongoing grid modernization initiatives and increasing usage of power equipment for wide range of applications, need for efficient protection devices also comes into picture, which is driving electric fuse applications providing major momentum to global electric fuse market over the coming years. Additionally, increasing regulatory focus toward vehicles with lower emission rates coupled with increasing advancements in automotive sector will impel the use of electric fuses.
Moreover, increasing inclination towards miniaturization, propagation of portable telecommunication and computing devices will complement the product adoption. Another important growth rendering factor for the industry is increasing strategic initiatives undertaken by several major players such as ABB, Panasonic, Legrand, General Electric, Siemens, Edison Fusegear, TE Connectivity, Hubbell, Mersen, C&S Electric, etc. to gain strong market presence.
For instance, in 2020, Siemens Ltd. inked an agreement deal for the acquisition of India based C&S Electric Limited in order to meet the growing demand for electrification in infrastructure and buildings and various industries in India. Apparently, this strategic move will strengthen the company’s position as a prominent supplier of low-voltage power distribution and electrical installation technology in the industry.
Following are some of the pivotal trends that are anticipated to transform the electric fuse market outlook worldwide:
Heightened demand for high voltage electric fuse
High voltage electric fuses are witnessing a huge demand due to improved efforts to mitigate power blackouts and ensure efficient electrical distribution driven. They help in increasing disposition of utilities toward cost effective power protection solutions. In addition, higher focus on upgradation and refurbishment of ageing grid infrastructure will instigate the product demand over the foreseeable future.
Increasing industrial application of electric fuse
Electric fuse finds extensive application as a robust protection device for several industrial equipment such as transformers, circuit breakers, solenoids, speed drives, meters, lightning blasts, motors, etc. which positively influence the market growth in coming years.
Moreover, inclination towards reducing the cost of repairing expensive power equipment by preventing fire hazards and other catastrophic failures is likely to fuel the product demand. Other prominent factors complementing the product adoption are limited maintenance requirements, higher reliability and high breaking capacity.
Increasing adoption of low-voltage electric fuse in consumer electronics
With increasing demand for consumer electronics and white goods along with rising need to protect complex battery packs deployed across wide range of portable products, demand for low voltage electric fuses has increased to a great extent. Further, owing to the ability of low voltages electric fuses to offer reliable protection to electrical installations and signal circuits against current overload events and short circuit will support the product penetration.
Besides, increasing application of convenience systems in vehicles such as automatic controllers, air conditioners and various onboard devices influenced by ongoing advancements in electric mobility is likely to augment the industry landscape.
Expanding grid-infrastructure across Asia Pacific
There is ongoing expansion and interconnection of the existing grid infrastructure coupled with increasing demand for uninterrupted electricity supply across residential and commercial establishments in APAC. Asia Pacific electric fuse market is estimated to observe a robust growth over the coming years.
Moreover, increasing government initiatives towards providing reliable and uninterrupted power supply along with the consistent efforts to curb monetary losses incurred from prolonged power blackouts and downtime at various facilities will foster the business space further. In addition, supportive tax incentive schemes to promote the adoption of electric vehicles aligned with improved efforts of automakers to introduce advanced technologies in the EVs will positively influence electric fuse development.
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