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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.
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.
Report Attribute | Details |
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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: |
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Pitfalls & Challenges: |
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