Press release
Global Automotive Fuse Market Projected to Surpass $24.38 Billion by 2029 with 5.3% Annual Growth
Automotive Fuse Market
The expansion of the automotive fuse market in the coming years is anticipated to be fueled by the rising demand for electronic components in the automotive industry. The proliferation of technology has led to an escalation in the application of novel electronics in vehicles. Cutting-edge technologies like autonomous technology, self-steering systems, and the onboard computers that manage diverse functions like vehicle temperature, GPS, and even exhaust emission, necessitate a plethora of new electrical equipment. For example, Demandsage, a US-based automated reporting platform utilizing data science for generating authentic insights, reported that in December 23, the global smartphone user count stood at around 6.6 billion. This marked a 4.2% rise from the previous year's figures. As a result, the escalating necessity for electronic components within the auto manufacturing sector is propelling the expansion of the automotive fuse market.
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What is the future CAGR of the automotive fuse market, and how will it impact industry expansion?
The size of the automotive fuse market has been progressively expanding over the recent years. The market value, which stood at $18.98 billion in 24, is projected to rise to $19.86 billion in 25 reflecting a compound annual growth rate (CAGR) of 4.6%. Factors such as increased vehicle production, stringent safety regulations, the surge in the electric vehicle (ev) market and rapid urbanization have contributed to the historic growth period.
In the ensuing years, the automotive fuse market is projected to witness robust expansion, reaching $24.38 billion in value by 29 at a compound annual growth rate (CAGR) of 5.3%. Factors such as increasing autonomous vehicles, progress in the economic market, adoption of automotive electronics, and increasing disposable income all contribute to the predicted growth during the forecast period. Emerging trends projected during this period encompass miniaturization, smart fuses, integration of adas, as well as partnership and collaboration.
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What are the most significant trends transforming the automotive fuse market today?
The enhancement in quality and the creation of fully insulated chips are unlocking potentials for growing the usage of automotive fuses. The implication is that superior quality fully insulated chips will be more robust and power-efficient, suggesting a larger consumer base. To illustrate, in September 22, Novosense Microelectronics Co Ltd., a company located in China that produces and trades integrated sensor chips, isolation, and interface chip, introduced an array of chips fit for automotive use. The NOVOSENSE automotive-qualified LDO NSR31/33/35 family chips are deliberately designed for systems powered by vehicle batteries. They are ideal for automotive applications that necessitate high standby power consumption due to their ultra-low static power consumption of 5uA and low drop-out voltage.
Which key market segments comprise the automotive fuse market and drive its revenue growth?
The automotive fuse market covered in this report is segmented -
1) By Vehicle Type: Passenger Car, Commercial Vehicle
2) By Fuse Type: Blade, Glass Tube, Semiconductor, Other Types
3) By Voltage: 12 and 24 V, 24-48 V, 49-150 V, 151-300 V, >300 V
4) By Application: Auxiliary Fuse, Charge Inlet Fuse, Battery Fuse, Engine Fuse, Other Applications
5) By Sales Channel: OEM, After market
Subsegments:
1) By Blade Fuses: Mini Blade Fuses, Standard Blade Fuses, Maxi Blade Fuses
2) By Glass Tube Fuses: Cartridge Fuses, Cylindrical Glass Fuses
3) By Semiconductor Fuses: Fast-Acting Semiconductor Fuses, Slow-Blow Semiconductor Fuses
4) By Other Types: PTC (Positive Temperature Coefficient) Fuses, Resettable Fuses, Thermal Fuses
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What regions are at the forefront of automotive fuse market expansion?
Asia-Pacific was the largest region in the automotive fuse market in 24. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automotive fuse market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Who are the leading players fueling growth in the automotive fuse market?
Major companies operating in the automotive fuse market include Eaton Corporation, Littelfuse Inc., Mersen S.A., SCHURTER Inc., SIBA, Sensata Technologies, Carling Technologies Inc., Mouser Electronics Inc., OptiFuse, Anodyne Electronics Manufacturing Corp., Blue Sea Systems, GLOSO TECH Inc., ON Semiconductor, Fuzetec Technology Co. Ltd., Pacific Engineering Corporation, Dongguan Better Electronics Tech. Co. Ltd, Anixter, NTE Electronics Inc., AEM Components (USA) Inc., E-T-A Elektrotechnische Geräte GmbH, Bel Fuse Inc., S&C Electric Company, G&W Electric Company, Mersen S.A., TE Connectivity Ltd., Bourns Inc., Cooper Bussmann, Keystone Electronics Corp., Phoenix Contact, Siemens Aktiengesellschaft, Vishay Intertechnology Inc., Weidmüller Interface GmbH & Co. KG, Würth Elektronik GmbH & Co. KG
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What Is Covered In The Automotive Fuse Global Market Report?
•Market Size Forecast: Examine the automotive fuse market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the automotive fuse market for a structured understanding.
•Key Players Overview: Analyze major players in the automotive fuse market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automotive fuse market.
•Segment Contributions: Evaluate how different segments drive overall growth in the automotive fuse market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automotive fuse market.
•Industry Challenges: Identify potential risks and obstacles affecting the automotive fuse market.
•Competitive Landscape: Review strategic developments in the automotive fuse market, including expansions, agreements, and new product launches.
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