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Europe Electric Fuse Market Size

Report ID: GMI7125
Published Date: Oct 2023
Report Format: PDF

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Europe Electric Fuse Market Size

Europe Electric Fuse Market was valued at USD 1.2 billion in 2023 and is poised to witness more than 6.3% CAGR between 2024 and 2032. The increasing emphasis on grid reliability, particularly in the face of growing renewable energy integration and the need for robust electrical infrastructure, is spurring demand for advanced fuse protection solutions. As per European Commission, Europe is set to observe approximately 83.7% growth in urbanization by 2050. Major rural populations are gradually moving towards cities in order, which in turn is complementing the industrial and commercial sector growth, thereby driving the demand for electric fuse technology across these establishments.

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The continuous modernization of existing power networks and the rise of smart grid technologies are further propelling the market, as fuses are essential components for safeguarding grid assets and ensuring grid stability. Moreover, safety regulations and standards in Europe are increasingly stringent, prompting the adoption of technologically advanced fuses with enhanced safety features. These factors collectively contribute to the growth and development of the electric fuse market in Europe.

Europe Electric Fuse Market Report Attributes
Report Attribute	Details
Base Year:	2023
Europe Electric Fuse Market Size in 2023:	USD 1.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.3%
2032 Value Projection:	USD 2.1 Billion
Historical Data for:	2019 to 2023
No. of Pages:	330
Tables, Charts & Figures:	426
Segments covered:	Voltage, Current Rating, Application, End Use
Growth Drivers:	Growing electrification of automotive industry Rising electric infrastructure spending Refurbishment of existing grid networks Increasing demand for electricity Rising peak load demand
Pitfalls & Challenges:	Volatile raw material cost

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COVID– 19 Impact

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of electric fuse in Europe was worth more than USD 1.2 billion in 2022 and is set to exceed USD 2.1 billion by 2032, driven by the rising emphasis on grid reliability, particularly in the face of growing renewable energy integration and the increasing need for robust electrical infrastructure.

Europe low-voltage electric fuse market held over 85% revenue share in 2022 and is set to exhibit over 5.5% CAGR from 2023 to 2032, attributed to the ongoing industrialization and automation in various sectors.

The market valuation of electric fuse in Germany crossed USD 245 million in 2022 and is poised to reach over USD 450 million by 2032, driven by the rising demand for electrical safety across the industrial and commercial sectors.

Some of the top electric fuse companies in Europe are ABB, Schneider Electric, Eaton, C&S Electric Limited, Siemens, Panasonic Industry Co., Ltd., Fuji Electric FA Components & Systems Co., Ltd., S&C Electric Company, Mitsubishi Electric Corporation, and many others.