Global Automotive Fuse Market

Automotive Fuse Market Size, Share, Growth Analysis, By Fuse (Blade, Glass Tube), By Application(Auxiliary Fuse, Engine Fuse), By Voltage(12 & 24 V, 24–48 V) - Industry Forecast 2024-2031

Report ID: SQMIG25A2260 | Region: Global | Published Date: April, 2024
Pages: 222 | Tables: 93 | Figures: 76

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Automotive Fuse Market size was valued at USD 15.67 Billion in 2022 and is poised to grow from USD 16.41 Billion in 2023 to USD 23.71 Billion by 2031, growing at a CAGR of 4.71% in the forecast period (2024-2031).

The competitive environment of the Automotive Fuse Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. The automotive fuse market is fragmented due to the presence of several local manufacturers in the automotive fuse market scenario Some of the important players in the market include Eaton Corporation, Little Fuse Inc., Pacific Engineering Corporation, Mersen Electric Power, AEM Components USA Inc. 'AEM Components USA Inc.', 'Blue Sea Systems', 'Dongguan Better Electronics Technology Co. Ltd.', 'Eaton Corp. Plc', 'ETA Elektrotechnische Apparate GmbH', 'Fuzetec Technology Co. Ltd.', 'GLOSO TECH Inc.', 'Halfords Group plc', 'Littelfuse Inc.', 'Mersen Corporate Services SAS', 'MTA Spa', 'ON Semiconductor Corp.', 'OptiFuse', 'Pacific Engineering Corp.', 'Protectron Electromech Pvt. Ltd.', 'Rainbow Power Co. Ltd.', 'SCHURTER Holding AG', 'Sensata Technologies Inc', 'SIBA GmbH', 'Ultra Wiring Connectivity System Ltd.'

Growing sales of commercial vehicles with rising GDP, increasing urbanization and infrastructure development are key factors for the growth of automotive fuse market. Growing automotive industry is further supporting the growth of automotive fuse industry. High demand for automobiles prompted auto parts manufacturers in countries such as South Korea, Japan, China and India to develop elaborate systems. This has led to the demand for efficient automotive components and stimulated the growth of the automotive fuse industry. Technological advances in soldering, the development of fully isolated clips, and the use of tin-nickel-plated metal contacts have significantly improved vibration and shock resistance. Furthermore, the development of advanced automotive fuses has also supported the growth of the automotive fuses industry. These advancements cater to the increasing demand for efficient automotive fuses and the widespread use of high-powered fuses.

Specialized Fuses for Electric Vehicles (EVs): Various fuse manufacturers, such as Eaton, have introduced fuses designed specifically for use on EVs. These fuses are designed to protect sensitive equipment on EVs and HEVs. The Eaton Bussman fuse provides protection as low as 135% of rated current, covers a wide range of overcurrent conditions, and prevents any damage associated with cycle fatigue. Fuses require 48% less space, on EVs 50% less and heavier than conventional fuses. They also have 11% higher efficiency than the Japanese Automotive Standards Organization (JASO) D622 specification, eliminating the need for circuit safety redesign, as batteries are designed and optimized for higher efficiency.

The North American region is the leader in the automotive industry, which is driving the market growth. Traditionally, the United States is a technology leader, and the largest automotive market in North America. It is the market leader in the region, with the highest sales of passenger cars, LCVs and HCVs. It also leads the EV market in line with the highest number of EVs sold in the North American region.

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Global Automotive Fuse Market

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