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 News

  • In March 2024, KYOCERA AVX, a leading global manufacturer of advanced electronic components engineered to accelerate technological innovation and build a better future, extended its Accu-Guard II Low-Current Fuses with new 0201 case sizes that deliver the industry's lowest current ratings. 
  • In December 2023, Littelfuse, an industrial technology manufacturing company empowering a sustainable, connected, and safer world, announced the release of the 656 and 658 Series Fuse Blocks product line. These fuse blocks offer a higher amperage rating, giving electronics engineers and designers more options depending on their specific application requirements. 
  • In December 2023, Bharat Electronics Limited (BEL) received an order of Rs 4,522 Crore from Indian Army for the supply of Fuses for various calibres
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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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