What is the global market size of the Electric and Electronic Fuse Market?

Global Electric and Electronic Fuse Market size was valued at USD 3.5 billion in 2021 and is poised to grow from USD 3.67 billion in 2022 to USD 5.59 billion by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).

Global Electric and Electronic Fuse Market Size, Share, Growth Analysis, By Product(Electrical fuse and electronic fuse) - Industry Forecast 2024-2031

Report ID: SQMIG45J2068 | Region: Global | Published Date: April, 2024
Pages: 197 | Tables: 34 | Figures: 74

Global Electric and Electronic Fuse Market Regional Insights

Globally, North America has great potential for the electrical fuse market and is projected to emerge as the fastest growing region for the electric and electronic fuse market. In the United States, the use of electrical fuses is expected to increase as state agencies plan to rehabilitate infrastructure and adopt environmentally friendly power distribution and transmission control systems.

Asia-Pacific dominates the electrical fuse market due to increased investment in smart grid infrastructure development, R&D expenditure, increased reliance on renewable energy sources, and ongoing infrastructure activities. Due to its high power demand, China has the largest generation and distribution capacity in the region, resulting in increased demand for power fuses. Similarly, expansion of electricity distribution in countries such as India, Australia, and Indonesia will increase the demand for electrical fuses in the Asia-Pacific region. Rise in per capita electricity consumption as a result of increasing urbanization and industrialization, construction sector,demand for improved electrical and electronic equipment is expected to drive rapid expansion in the Asia-Pacific region over the forecast period.

Moreover, the electrical fuse market is expected to grow owing to strong manufacturing base and increasing investment in power generation and infrastructure development in the developing countries of the region.

Global Electric and Electronic Fuse Market Report Snapshots

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Global Electric and Electronic Fuse Market size was valued at USD 4.62 Billion in 2022 and is projected to rise from USD 4.90 billion in 2023 to reach USD 7.81 Billion by 2031, growing at a CAGR of 6% during the forecast period (2024-2031).

The global electric and electronic fuse market is highly fragmented in nature with the presence of several small and large market players operating all over the world. Major companies of the market are implementing several business strategies such as new product launches, acquisition & mergers, collaboration, and partnerships for the expansion of their geographical presence and their product portfolio. 'ABB Ltd.', 'Siemens AG', 'Eaton Corporation plc', 'Schneider Electric SE', 'Bel Fuse Inc.', 'S&C Electric Company', 'Littelfuse, Inc.', 'Mersen S.A.', 'Legrand SA', 'Fujitsu Limited', 'General Electric Company', 'SIBA GmbH', 'Schurter Holding AG', 'Hollyland (China) Electronics Technology Corp.', 'SCHOTT AG', 'Bourns, Inc.', 'AEM, Inc.', 'Carling Technologies, Inc.', 'E-T-A Elektrotechnische Apparate GmbH', 'Metaltex Deutschland GmbH'

The rise in demand for electricity, coupled with the increase in investments in the energy sector are the prime growth drivers boosting the electric and electrical fuse market

Electronic fuses are increasingly used to protect circuits in the limited space requirements of electronic equipment such as consumer electronics, computers, meters, power supplies and communication equipment. The region’s largest share and rapid growth can be attributed to factors such as rising per capita electricity consumption due to increased urbanization and industrialization, growth in the construction sector, and increasing demand for advanced electrical and electronic equipment increase.

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Global Electric and Electronic Fuse Market Size, Share, Growth Analysis, By Product(Electrical fuse and electronic fuse) - Industry Forecast 2024-2031

Global Electric and Electronic Fuse Market Regional Insights

Global Electric and Electronic Fuse Market Report Snapshots

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