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Electric Fuse Market Size

Report ID: GMI3508
Published Date: Nov 2024
Report Format: PDF

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Electric Fuse Market Size

The global electric fuse market was valued at USD 4.5 billion in 2024 and is projected to showcase about 5.8% CAGR between 2025 and 2034. Increased demand for electrical systems supporting residential, commercial and industrial applications along with rising demand for components safeguarding the electrical systems and appliances will complement the industry landscape. Strict safety regulations implemented by authorities necessitate the use of fuses to protect circuits, prevent damage, and reduce fire risks, further accelerating the product demand.

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Government funding for development of electrical infrastructure, including power distribution and renewable energy projects, along with growing automotive industry will positively influence the business dynamics. For instance, in October 2024, the U.S. Department of Energy allocated USD 473.6 million in financial year 2024 as a part of the Grid Resilience State and Tribal Formula Grants to 49 states, 5 territories, 254 Tribal Nations, and the District of Columbia. This funding aims to update the electric grid infrastructure aiming to mitigate the effects of harsh weather events and enhance power sector reliability.

Electric Fuse Market Report Attributes
Report Attribute	Details
Base Year:	2024
Electric Fuse Market Size in 2024:	USD 4.5 billion
Forecast Period:	2025 – 2034
Forecast Period 2025 – 2034 CAGR:	5.8%
2025 – 2034 Value Projection:	USD 8 Billion
Historical Data for:	2021 – 2024
No. of Pages:	110
Tables, Charts & Figures:	36
Segments covered:	Voltage, Current Rating, Application, End Use, and Region
Growth Drivers:	Growing electrification of automotive industry Rising electric infrastructure spending and refurbishment of existing grid networks Increasing demand for electricity
Pitfalls & Challenges:	Volatile raw material cost

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Authors: Ankit Gupta, Manish Dhiman

Frequently Asked Questions (FAQ) :

The global market for electric fuse was valued at USD 4.5 billion in 2024 and is projected to grow at a 5.8% CAGR from 2025 to 2034, driven by increased demand for electrical systems across various applications.

The low voltage segment is anticipated to exceed USD 6.4 billion by 2034, supported by increasing industrialization, automation, and government initiatives to enhance electrical safety.

The 500A current rating segment is expected to witness a CAGR of over 5.5% through 2034, led by the expansion of residential establishments and rising demand for household electrical appliances.

The U.S. electric fuse market is projected to surpass USD 930 million by 2034, fueled by the increasing demand for a continuous and safe electricity supply and the expansion of grid infrastructure.

Major players in the industry include Bel Fuse, C&S Electric, Eaton, Fuji Electric, Hubbell, Kyocera AVX, Legrand, Mersen, Mitsubishi Electric, Optifuse, Panasonic, S&C Electric, Schneider Electric, SIBA Fuses, and Siemens.