Press release
Steady Expansion Forecast for Electric Fuse Market, Projected to Reach $6.12 Billion by 2029
Electric Fuse Market
Electric Fuse Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for electric fuses has seen robust growth in the past few years. It is projected to surge from $4.45 billion in 2024 to approximately $4.72 billion in 2025, with a compound annual growth rate (CAGR) of 6.0%. Factors contributing to historical growth include substantial industrialization and urbanization, development of electrical infrastructure, progression in power electronics, safety and fire prevention measures, increased electrification in the automotive sector, rising demand for consumer electronics, growth of the telecommunications industry, and heightened consumer consciousness regarding electrical safety.
Electric Fuse Market Size Forecast: What's the Projected Valuation by 2029?
The market for electric fuses is forecasted to experience robust growth in the coming years, anticipated to reach a value of $6.12 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 6.7%. The growth during the predicted period could be due to a range of factors such as the modernization of electric equipment, increased safety standards, the fast-paced growth of electric cars, the integration of energy storage systems, the growing intricacy of electric networks, the need for streamlined and efficient fuses, and plans for resilience in electric networks. Notable trends expected in this period include innovations in fuse technology, advancements in semiconductor technology, the digital transformation of power distribution, customization for specific use cases, shrinking of components, progress in fuse materials, growth of power distribution networks, and the development of smart grid infrastructure.
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What Are the Drivers Transforming the Electric Fuse Market?
The surge in electrical usage is anticipated to propel the electric fuse market forward. Electrical usage is defined as the quantity of electricity used over a particular timeframe, measured in Wh (or kWh). The escalating population, economic growth, and tech advancements contribute to the growth in electrical usage. Devices like UL power fuses, which control overflow and decrease wastage, are growing in demand across various sectors that consume a high amount of electricity, including healthcare, industries, lighting, power generation, appliances, climate control, and vehicles. The US Energy Information Administration (EIA), a statistics division of the U.S. Department of Energy, predicts, for example, that renewable energy's share in electricity generation will increase from 30% in 2023 to 37% in 2026, primarily due to the expansion of increasingly affordable solar PV. Therefore, the rise in electric consumption is expected to fuel the electric fuse market in the estimated period.
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What Long-Term Trends Will Define the Future of the Electric Fuse Market?
The tide of technological progress is a prominent trend escalating in the realm of the electric fuse market. Leading corporations in this sector are creating technologically progressive electric fuses, apt for electric vehicles, to carve a niche for themselves in the market. In May 2022, for example, Littelfuse, a premier circuit protection manufacturer based in the US, unveiled its new 828 series of high-voltage cartridge fuses. These electric fuses offer high-quality overcurrent protection for designs of automotive electric vehicles. Compliant with AEC-Q200, the 828 series high-voltage cartridge fuses are accessible in 500 through-hole and 300 bolt-down units. Not only do these fuses adhere to RoHS standards, they are devoid of lead and halogens too. The fuses can be utilized with printed circuit boards or screw-in assemblies and function within a temperature bracket of -55 to 125 degrees Celsius. Featuring end caps with built-in stand-off leads and bolt-down functionalities, these fuses render the need for mounting elements or lead-manipulating procedures redundant.
Which Segments in the Electric Fuse Market Offer the Most Profit Potential?
The electric fuse market covered in this report is segmented -
1) By Product Type: Industrial Power And UL Fuses, Axial Radial Thru Hole Fuses, Cartridge Fuses, Surface Mount Fuses, Specialty Power Fuses
2) By Type: Power Fuse And Fuse Links, Distribution Cutouts, Cartridge And Plug Fuses, Other Types
3) By Voltage: Low Voltage, Medium Voltage
4) By End-Users: Utilities, Industrial, Residential, Commercial, Transportation, Other End-Users
Subsegments:
1) By Industrial Power And UL Fuses: Industrial Power Fuses, UL Recognized Fuses
2) By Axial Radial Thru Hole Fuses: Axial Fuses, Radial Fuses
3) By Cartridge Fuses: Type C Cartridge Fuses, Type D Cartridge Fuses
4) By Surface Mount Fuses: Chip Fuses, Thin Film Fuses
5) By Specialty Power Fuses: Motor Protection Fuses, Overcurrent Protection Fuses, Automotive Fuses
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Which Firms Dominate the Electric Fuse Market by Market Share and Revenue in 2025?
Major companies operating in the electric fuse market are Schneider Electric SE, Siemens Aktiengesellschaft, Mersen S.A., ABB Ltd., Eaton Corporation PLC, Bel Fuse Inc., Littelfuse Inc., Legrand SA, S&C Electric Company, G&W Electric Company, SCHURTER Holding AG, Hubbell Incorporated, General Electric Company, Mitsubishi Electric Corporation, Emerson Electric Co., Bourns Inc., SIBA GmbH, EFEN GmbH, Hollyland Electronic Technology Co. Ltd., Pacific Engineering Corporation, AEM Components Inc., KYOCERA Corporation, Alstom SA, Maxwell Technologies LLC, OptiFuse, Protectron Electromech Pvt. Ltd., Xiamen SET Electronics Co. Ltd., Larsen & Toubro Limited, Pennsylvania Breaker LLC, Toshiba Corporation, TE Connectivity Ltd.
Which Regions Offer the Highest Growth Potential in the Electric Fuse Market?
Asia-Pacific was the largest region in the electric fuse market share in 2024. North America was the second-largest region in the electric fuse market analysis. The regions covered in the electric fuse market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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