“The global electric fuse market is projected to grow at a CAGR of 4.24%, from 2018 to 2023.”
The global electric fuse market is projected to reach USD 4.3 billion by 2023 from an estimated USD 3.5 billion in 2018, at a CAGR of 4.24%. This growth can be attributed to factors such as growing investments in renewable and energy storage, increasing investments in T&D infrastructure plans, and revival of investments in construction sector. However, increasing demand for substitutes such as MCBs, MCCBs, and protection relays and Increasing investments in smart grid vision is expected to restrict the growth of the market.
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“The low voltage segment is expected to be the fastest growing market from 2018 to 2023.”
The low voltage fuse market is driven by rising investments in renewable energy generation & distribution and rising demand for energy storage on a large scale. Moreover, the residential and commercial sector is increasing its expenditure for the protection of electrical power systems. The type of fuses in the low voltage range are mainly miniature fuses, cartridge fuses, plug fuses, PV fuses, and link type fuses.
“The utilities segment by end-users is expected to be the largest market from 2018 to 2023.”
Utilities face the challenge to manage grids and provide reliable and secured power and, thus, the demand for fuses remains despite the availability of substitutes. The electric fuses that are used by the utilities are generally power fuses, backup fuses, fuse links, capacitor fuses, and dropout fuses. The utilities operate at a high voltage level at 11 kV, 22 kV, and 33 kV, thus medium voltage electric fuses are preferred. Moreover, the demand from utilities for electric fuses is frequent due to the short life span of these fuses and low replaceability cost.
“Asia Pacific: The fastest growing market for electric fuse market.”
The rising grid investments in 2015, especially in the developing economies, such as China and India, are expected to drive the demand for electrical equipment and circuit protection equipment in the region. According to the International Energy Agency, in Southeast Asia, the coal-based power generation grew at an average of 9.8% per year from 2000 to 2016, and coal accounts for about one-third of the electricity mix. Moreover, the distribution sector is improving in the region to improve the electrification rate in the developing nations. Similarly, the Asia Pacific industrial sector is driving the electric fuse market in the region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects.
The distribution of primary interviews is as follows:
- By Company Type: Tier 1- 40%, Tier 2- 35%, and Tier 3- 25%
- By Designation: C-Level- 30%, Director Level- 25%, and Others- 45%
- By Region: Asia Pacific- 30%, Europe- 25%, North America- 20%, Middle East & Africa - 15%, and South America- 10%
Note: Others includes sales managers, marketing managers, product managers, and product engineers.
The tier of the companies is defined on the basis of their total revenue as of 2017. Tier 1: USD 1 billion, Tier 2: From USD 1 billion to USD 500 million, and Tier 3:
The global electric fuse market market is dominated by a few major players that have a wide regional presence. The leading players in electric fuse market are Schneider Electric (France), Siemens (Germany), Mersen (France), ABB (Switzerland), Eaton (Ireland), Bel Fuse Inc. (US), Littelfuse (US), Legrand (France), S&C Electric Company (US), G&W Electric Company (US), Schurter (Switzerland), and Hubbell (US).
- The report defines, describes, and forecasts the global electric fuse, by type, voltage, end-users, and region. It also offers a detailed qualitative and quantitative analysis of the market.
- The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market.
- These include the analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the electric fuse market.
Why buy this report?
- The report identifies and addresses key markets for electric fuse, which would help manufacturers review the growth in demand.
The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges. The report will help key players understand the strategies of their competitors better and help then in making better strategic decisions.