The global Electric Fuses market was valued at US$ 3349.2 million in 2022 and is projected to reach US$ 5240.1 million by 2029, at a CAGR of 6.6% during the forecast period. The influence of COVID-19 and the Russia-Ukraine War were considered while estimating market sizes.
An electric fuse is a safety device that is designed to protect an electrical circuit from excessive current. It is essentially a thin wire or filament that is enclosed in a protective casing and placed in series with the electrical circuit. When the current flowing through the circuit exceeds the rated value of the fuse, the wire inside the fuse melts and breaks the circuit, thereby preventing any further damage or hazards. Electric fuses are widely used in various applications, including residential and commercial electrical systems, automotive and industrial machinery, and electronic devices.
This report aims to provide a comprehensive presentation of the global market for Electric Fuses, with both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Electric Fuses.
This report contains market size and forecasts of Electric Fuses globally, including the following market information:
Global Electric Fuses Market Revenue, 2018-2023, 2024-2029, ($ millions)
Global Electric Fuses Market Sales, 2018-2023, 2024-2029, (M Units)
Global top five Electric Fuses Companies in 2022 (%)
Global key players of Electric Fuses include Littlefuse, Legrand, Mersen, WalterFuse, etc. Global top one manufacturer holds a market share above 10%. China is the largest consumption market of Electric Fuses, holds a share about 40%, followed by North America, and Europe. In terms of product, the largest type is Low Voltage Fuses for Industrial, Photovoltaic and Electric Vehicles, followed by Electronic Consumer Chip Fuses and Electronic Consumer Plug-In Fuses. And in terms of application, the largest application is Electronic Consumer Goods.
We surveyed the Electric Fuses manufacturers, suppliers, distributors and industry experts on this industry, involving the sales, revenue, demand, price change, product type, recent development and plan, industry trends, drivers, challenges, obstacles, and potential risks.
The low voltage fuses segment is expected to hold the largest share of the electric fuse market, accounting for over 60% of the global market revenue in 2020.
Asia Pacific is expected to dominate the electric fuse market, accounting for over 40% of the global market revenue in 2020, due to the presence of several leading manufacturers in the region.
The automotive industry is the largest end-use segment for electric fuses, accounting for over 25% of the global market revenue in 2020, driven by the increasing use of electric and hybrid vehicles.
The industrial segment is expected to witness significant growth in the electric fuse market, driven by the increasing automation of industrial processes and the need for advanced safety measures.
The plug-in fuses segment is expected to witness significant growth in the electric fuse market, driven by the increasing demand for consumer electronics and appliances.
|Report Attributes||Report Details|
Electric Fuses Market Size, Emerging Trends, Technological Advancements, and Business Strategies 2023-202
|Market size in 2022||3349.2 million|
|Forecast Market size by 2029||5240.1 million|
|Growth Rate||CAGR of 6.6%|
|Historical Year||2018 to 2022 (Data from 2010 can be provided as per availability)|
|Number of Pages||100+ Pages|
|Customization Available||Yes, the report can be customized as per your need.|
Total Market by Segment:
Global Electric Fuses Market, by Type, 2018-2023, 2024-2029 ($ Millions) & (M Units)
Global Electric Fuses Market Segment Percentages, by Type, 2022 (%)
- Plug-In Fuses
- Chip Fuses
- Cartridge fuses
- Blade fuses
- Resettable fuses
- Thermal fuses
Global electric fuses Market, by Voltage, 2018-2023, 2024-2029 ($ Millions) & (M Units)
Global electric fuses Market Segment Percentages, by Voltage, 2022 (%)
- Low voltage fuses (up to 1,000V)
- High voltage fuses (above 1,000V)
Global ElectricFuses Market, by Application, 2018-2023, 2024-2029 ($ Millions) & (M Units)
Global ElectricFuses Market Segment Percentages, by Application, 2022 (%)
- Electronic Consumer Goods
- Electric Vehicles
- Power generation & distribution
Global Electric-Fuses Market, By Region and Country, 2018-2023, 2024-2029 ($ Millions) & (M Units)
Global Electric-Fuses Market Segment Percentages, By Region and Country, 2022 (%)
- North America
- Nordic Countries
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Asia
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
The report also provides analysis of leading market participants including:
- Key companies Electric Fuses revenues in global market, 2018-2023 (Estimated), ($ millions)
- Key companies Electric Fuses revenues share in global market, 2022 (%)
- Key companies Electric Fuses sales in global market, 2018-2023 (Estimated), (M Units)
- Key companies Electric Fuses sales share in global market, 2022 (%)
Further, the report presents profiles of competitors in the market, key players include:
- Sinofuse Electric
- CONQUER ELECTRONICS
- Bel Fuse
- TA I TECHNOLOGY
- Schneider Electric SE
- Bel Fuse Inc
- Littelfuse Inc
- S&C Electric Company
Electric Fuses market latest Trends
- Increased demand for electric vehicles (EVs) is driving the need for specialized fuses that can handle high voltage and power.
- With the rise of renewable energy sources such as solar and wind power, there is a growing demand for fuses that can operate in harsh environments and withstand extreme weather conditions.
- The increasing use of electronic devices in homes and workplaces is driving demand for miniature fuses that can protect sensitive electronics from overcurrents and short circuits.
- The integration of smart technology into the electric grid is leading to the development of fuses with remote monitoring capabilities, allowing for real-time data collection and analysis.
- In the industrial sector, there is a growing need for fuses that can handle higher currents and voltages, particularly in heavy machinery and equipment.
- The use of renewable energy in data centers is driving demand for fuses that can operate at higher temperatures and have a longer lifespan to reduce maintenance costs.
- The development of 5G technology is expected to drive demand for fuses that can handle high-frequency currents and provide reliable protection in telecommunications infrastructure.