Press release
Key Trends Reshaping the Automotive Fuse Market: Enhanced Quality And Insulated Chips Expand Automotive Fuse Applications Industry Transformation
Automotive Fuse
Automotive Fuse Market Size Growth Forecast: What to Expect by 2025?
The market size for automotive fuses has shown consistent growth over recent years. It's anticipated to rise from $18.98 billion in 2024, reaching $19.53 billion in 2025, with a compound annual growth rate (CAGR) of 2.9%. The growth seen in the historic period is tied to factors such as a surge in vehicle production, more stringent safety regulations, expansion in the electric vehicle (ev) market and swift urbanization.
How Will the Automotive Fuse Market Size Evolve and Grow by 2029?
In the coming years, the automotive fuse market size is projected to experience stable expansion. It is forecasted to reach $23.54 billion in 2029, growing at a compound annual growth rate (CAGR) of 4.8%. This growth during the forecast period can be linked to the increase in self-driving vehicles, the thriving economy, the transition to automotive electronics, and increasing disposable income. Significant trends for the forecast period feature miniaturization, smart fuses, the incorporation of advanced driver-assistance systems (ADAS), as well as partnerships and collaborations.
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What Drivers Are Propelling the Growth of Automotive Fuse Market Forward?
The surge in demand for electronic parts within the auto industry is projected to fuel the expansion of the automotive fuse market in the near future. Technological advances have led to the increasing incorporation of innovative electronics into vehicles. Novel technologies like self-navigation mechanisms, autonomous driving systems, and advanced onboard computers handling multiple functions from GPS to exhaust emissions necessitate a plethora of new electronic devices to operate effectively. For instance, Demandsage, an automated reporting platform based in the US, revealed in December 2023 that the count of smartphone users globally in 2022 stood at about 6.6 billion, marking an increase of 4.2% compared to the previous year. Therefore, the escalating demand for electronic components in the auto industry is propelling the growth of the automotive fuse market.
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What Trends Will Shape the Automotive Fuse Market Through 2029 and Beyond?
The enhancement in quality and the creation of fully insulated chips offer a chance to augment the application of automotive fuses. This is on account of superior quality fully insulated chips being more powerful and energy-efficient, signifying a broader customer base. For example, Novosense Microelectronics Co Ltd., a corporation based in China that manufactures and sells integrated sensor chips, isolation, and interface chip, unveiled a set of automotive-qualified chips in September 2022. These NOVOSENSE automotive-qualified LDO NSR31/33/35 family chips, specifically designed for systems powered by vehicle batteries, are ideal for automotive uses that require high standby power consumption due to their ultra-low static power consumption of 5uA and low drop-out voltage.
What Are the Key Segments in the Automotive Fuse Market?
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, Aftermarket
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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Who Are the Key Players Shaping the Automotive Fuse Market's Competitive Landscape?
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
What Geographic Markets Are Powering Growth in the Automotive Fuse Market?
Asia-Pacific was the largest region in the automotive fuse market in 2024. 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.
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