Electric
Fuse Market Analysis
The electric fuse market size is
projected to reach USD 4.26 billion by 2024 from an estimated USD 3.45 billion,
at a CAGR of 4.50% from 2019–2024. Electric fuse is a device, which is used to
protect load from overcurrent. An electric fuse consists of a metallic filament
enclosed either in a ceramic, plastic or glass coating. The filament allows
normal flow of current through it but in case of overload, the filament gets
heated and breaks to stop the current flow.
An electric fuse is used in an
electrical circuit to protect the electrical devices against short circuits and
overloads. It is one of the cheapest circuit protection devices to interrupt an
electrical circuit. The function of the fuse is to allow the normal current to
flow through the fuse and break the circuit when a high magnitude current pass
through it.
Leading
Players
The key players of the global
electric fuse market are ABB (Switzerland), Eaton (Ireland), Schneider Electric
(France), Siemens (Germany), Hubbell (US), Mersen (France), Legrand (France),
Bel Fuse (US), S&C Electric Company (US), Little Fuse (US), and G&W
Electric (US).
Industry
Segmentation
On the basis of voltage, the global
market has been segmented into low, medium, and high voltage. The medium
voltage segment is the largest segment in the market due to the continuous
construction of T&D networks and the high replaceability of fuses. The end
users of medium voltage electric fuses are utilities, transformers and
substations, distribution networks, and heavy industries.
On the basis of type, the global
market is segmented into power fuse & fuse link, distribution cutouts, and
cartridge & plug fuse. The power fuse & fuse link segment is expected
to dominate the electric fuse market, owing to the rising demand for medium
voltage fuses in T&D networks. On the basis of end-use, the global market
is segmented into utilities, industrial, residential, and commercial. The
utilities segment is expected to dominate the electric fuse market during the
forecast period.
Regional
Outlook
On the basis of region, the global
electric fuse market has been segmented into Asia-Pacific, North America,
Europe, the Middle East & Africa, and South America.
The growth of the electric fuse
market in Asia-Pacific is driven by many factors including the increasing
investments in T&D, resulting in power infrastructure development in the
emerging economies of Australia, China, Thailand, and India. Moreover, market
players such as Legrand, ABB, and Schneider Electric have signed contracts with
industries to provide electric fuse and necessary services. Furthermore, the
rising safety concerns associated with photovoltaic systems and distributed
energy resources are other factors driving the growth of electric fuse market,
globally.
Scope
of the Report
This research report provides
insights into various levels of analysis, such as industry analysis and market
share analysis for the leading industry competitors, along with their profiles.
It also helps in studying the target segments by providing views on the
emerging & high-growth segments. The market data comprises the basic
assessment of the competitive scenarios and strategies in the global electric
fuse market, including high-growth regions and/or countries, and political and
economic environments. The project report further provides both – historical
market values and pricing & cost analysis
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