Press release
Electric Fuse Market Size, Growth, In-depth Analysis, Research Report Forecast up to 2027: Bel Fuse Inc. and Mitsubishi Electric are Key Players.
Electric Fuse Market is expected to grow at a CAGR of 6.58% to reach a market size worth US$5,762.802 million by 2027.The study shows that the electric fuse market is expected to grow steadily during the forecast period.
Electric fuses perform the function of fault detection and interruption function by using thermal properties such as the temperature heating impact produced by electrical energy. It also functions as an automatic protector, eradicating threats like high temperatures and power surges. Additionally, large software and hardware companies need high-voltage electric fuses. Vehicles and home appliances like freezers, air conditioners, kitchen appliances like kettles, mixers, microwaves, and others use medium- or low-voltage electric fuses. The market for electric fuses is growing due to rising power usage.
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The electric fuse market has been categorized based on type, voltage, material, end-use industry, and geography.
The market has been classified by type into power fuse & fuse link, distribution cutouts, cartridge & plug fuse. The power fuse & fuse link has a significant market share in the electric fuse market because this type of fuse has a chamber of fuse links typically filled with boric acid. After all, it has a low refill cost and synchronizes better with transmission and distribution networks, transformer, circuit, and motor protection, boosting the electric fuse market growth.
Based on voltage, the classification has been done into high, medium, and low. However, the medium voltage will have a significant market share during the forecasted period because of its increased usage in big software and hardware enterprises and electric vehicles. In addition, the continuous building of transmission and distribution networks and the high replaceability of fuses contribute to the high demand for medium-voltage fuses.
The market has been classified into copper, silver, and bronze by material. The copper material will have a significant market share because of the presence of lead in the copper alloy, which is primarily used for electric fuse because of its high resistivity and low melting point. Fuse wire is typically composed of a lead-tin alloy which makes the copper material boost the market growth of electric fuse.
By end-use industry, the market has been classified into energy and power, automotive, manufacturing, consumer electronics, construction, and others. The automotive sector will have a significant market share in electric fuse because it is increasingly used in cars, particularly in electrical and digital systems. In addition, electric fuses are increasingly being used in the EV industry, primarily for charging purposes in electric charging stations, which essentially convert AC power into DC power, necessitating electric fuses as circuit breakers. In 2021, Little Fuse Inc.'s net sales in the electronics segment-which included all electronic components, particularly fuses, electric vehicles and associated infrastructure, power supplies, and others-rose by US$1,300,744 million over 2020.
By region, North America is expected to retain a considerable market share because of growth in the automotive and electronics industries, technological advancements, and a rise in power consumption. The demand for electric fuses is also driven by an increase in electricity and power usage, especially in the commercial and industrial sectors. According to the Energy Information Administration, the United States consumed 3.93 trillion kWh of energy in 2021 because more people were directly using it for industrial and commercial purposes.
The major players covered in the electric fuse market study are Abb Ltd, Schneider Electric, Siemens Ag, Bel Fuse Inc, Legrand, Eaton Corporation, Mersen LP, S&C Electric Company, Hubbel Incorporated Designs, Panasonic Corporation, Mitsubishi Electric.
This Electric Fuse Market has been analyzed into the following segments:
• By Type
o Power Fuse & Fuse Link
o Distribution Cutouts
o Cartridge & Plug Fuse
• By Voltage
o High
o Medium
o Low
• By Material
o Copper
o Silver
o Bronze
• By End-Use Industry
o Energy and Power
o Automotive
o Manufacturing
o Consumer Electronics
o Construction
o Others
• By Geography
o North America
• USA
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• Germany
• France
• United Kingdom
• Others
o The Middle East and Africa
• Saudi Arabia
• UAE
• Others
o Asia Pacific
• China
• India
• Japan
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others
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• https://www.knowledge-sourcing.com/report/electric-vehicle-charging-stations-market
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• https://www.knowledge-sourcing.com/report/safety-switches-market
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies across ten industry verticals. KSI has a team of experienced and young professionals who focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports annually centering on the niche and latest technologies. In addition, we engage with key decision-makers and stakeholders across the value chain to provide clients with a detailed analysis and bird's-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers, and challenges, and strategic recommendations for making informed decisions. Our success lies in our analysts' efforts to meet client expectations by delivering quality work within the stipulated deadlines.
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