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Electric Fuse Market Trends

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

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Electric Fuse Market Trends

The electric fuse industry is set to grow on account of increasing urbanization and infrastructure development projects along with growing automotive industry have contributed to the industry growth. Consistent power quality is crucial for efficient operations in industries such as manufacturing, healthcare, data centres, and telecommunications further accelerating the product demand.

Technological advancements have led to the development of compact, high-performance electrical and electronic devices, including electric fuses, across various industries. Ongoing development of compact devices have increased the need for miniaturized fuses with enhanced protection capabilities, accelerating the product deployment. Ongoing development for technologically advanced and compact electric fuses to meet modern electronic device requirements will accelerate the industry growth. Additionally, the automotive industry's significant growth, particularly in electric vehicles (EVs) and hybrid electric vehicles (HEVs) production and adoption, will positively influence the business dynamics.

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.