Automotive Fuse Market - Global Forecast to 2025

The Automotive Fuse Market is estimated to grow at a CAGR of 6.84%, to reach $24.33 Billion by 2025.

The automotive fuse market is driven by the increasing trend for vehicle electrification, safety and comfort features in mid-segment vehicles which will lead to an increase in the number of fuses installed per vehicle. Also, increasing demand for premium HEV and PHEV will also give a positive impact on the automotive fuse market.

The key companies profiled in the study are Eaton (Ireland), ON Semiconductor (US), Littelfuse, Inc. (US), Sensata Technologies, Inc. (US), MERSEN S.A. (France), Pacific Engineering Corporation (Japan), SCHURTER Holding AG (Switzerland), OPTIFUSE (US), AEM Components (USA), Inc. (US) and Fuzetec Technology Co., Ltd. (Republic of China).

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Semiconductor fuses are advanced fuses that act very fast. They have several fuse element strips in parallel, depending on the ampere rating of the fuse. All the strips are enclosed in a ceramic body. Semiconductor fuses are secure against overvoltage in various applications such as inverters, DC drives, rectifiers, and variable speed drive systems. A single semiconductor fuse has the ability to handle more than one electrical circuit with increased safety and durability. Due to the increasing use of ECUs and advanced features in vehicles, the semiconductor fuse market is expected to grow in the future.

The PHEV fuse market is estimated to be the fastest-growing fuse market during the forecast period. The number of fuses used in PHEV is higher as compared to the BEV and HEV owing to the additional electrical circuit engines and charge inlet fuses. Also, PHEV uses a higher capacity battery as compared to HEV, which eventually increase the number of fuses used in a PHEV. However, the HEV fuse market by value is expected to be the largest markets for the automotive fuse. The reason being, the highest-selling electric vehicle type in all over the regions owing to their low cost as compared to the other two. Automotive fuse manufacturer can focus on high voltage automotive fuse as this is going to be the future of the automotive industry owing to increasing sales of BEV, HEV, and PHEV.

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The mild-hybrid (48V) market is estimated to be the fastest-growing market during the forecast period by value. In the present scenario, the market for a mild hybrid is a very nascent stage. However, the introduction of high voltage architecture in ICE vehicles is projected to boost the market for mild hybrids in near future. The mild-hybrid vehicles carry benefits such as low CO2 emissions, & improved fuel efficiency and increased level of electrification. Hence, with an increase in the electrical systems, fuse manufacture can invest in the high voltage fuse for mild hybrids. Various government norms on tailpipe emissions will support the sales of mild hybrid vehicles in all the regions.

The automotive fuse market for Asia Oceania is estimated to be the largest market while Europe is estimated to be the fastest-growing market during the forecast period by value, in which 48V vehicles is estimated to play a major role. Increasing demand for vehicle safety features and government mandates on safety technologies such as airbags, ABS are expected to drive the automotive fuse market in the Asia Oceania region. On the other hand, the market growth in Europe can be seen by the increased sales of electric and hybrid vehicles in countries such as Norway, France, and the Netherlands. Moreover, automotive OEMs in Europe are also known for their early adoption of vehicle safety features. Driver seatbelt reminders, TPMS, gear shift indicator, protection of pedestrians are some of the safety features mandated by the European Union which eventually increase the application of fuse.

Target Audience:

1. Automotive fuse suppliers
2. Battery manufacturing
3. Dealers and distributors of automotive fuse
Industry associations
4. Manufacturers of automotive fuse
5. Supportive raw material suppliers for automotive fuse
6. Vehicle electronics manufacturer
7. Engine components manufacturer
8. Original Equipment Manufacturers (OEM)
9. Electric & Hybrid vehicle component Manufacturers

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This release was published on openPR.