Global Electric and Electronic Fuse Market

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 Dynamics

Electric and Electronic Fuse Market Drivers

Increase in Demand for Energy will Boost Growth

  • 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
  • Imposition of stringent laws on energy saving and the rapid urbanization rate are also augmenting the need for electrical fuse across multiple industries, thereby driving the market.
  • The rise in investments in the energy sector to meet the increasing demand for power will also promote the growth of this market.

Electric and Electronic Fuse Market Restraint 

Increase in Popularity of Circuit Breakers may Hamper Growth

  • The  rise in commodity prices and the vulnerability of fuses are making electric devices prone to short circuits in some circumstances. The advantages of fuses are likely to augment demand for circuit breakers, and this trend is expected to continue for the next few years. This market may face challenges in terms of rise in inclination towards circuit breakers. However, there are still certain component-level market areas where only fuses can be used due to cost advantages and fewer operational factors. This may help propel the need for electric and electronic fuses in the near future.
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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.

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.

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Global Electric and Electronic Fuse Market

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