Newark, NJ, May 24, 2021 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global electric fuse market is expected to grow from USD 3.3 billion in 2020 and to reach USD 5.1 billion by 2028, growing at a CAGR of 5.6% during the forecast period 2021-2028.
The electric fuse market has witnessed significant growth in the past years. This growth is attributed to the growing investments in energy storage & renewables, telecommunications and automotive, rising investments in infrastructure plans of T&D, increasing investments in the construction sector, and a rise in demand for automotive electronics. Electrification is being carried out by industries to ensure the movement of low carbon future and for reliable operations. Increasing pressure from the government to achieve carbon-neutral goals in the environment is further fuelling the demand for electrical infrastructure.
An electric fuse is a safeguard instrument used to protect appliances from sudden fluctuations in voltage and short circuits. Fuse is an electrical component, which is used as a safety device to limit the current fluctuation in an electric circuit. The electric fuse melts and breaks the electric circuit when there is an unnecessary sudden rise in the current flow or fluctuations in the voltage. Container type of fuses is commonly used in industries and automotive applications.
The global electric fuse market is anticipated to witness significant growth due to the help of increasing pressure from the government to achieve carbon-neutral goals in the environment, growing investments in energy storage & renewables, telecommunications and automotive, rising investments in infrastructure plans of T&D, increasing investments in the construction sector, and a rise in demand for automotive electronics. The factors that are restraining the market are rising funds in smart grid vision, the surge in raw materials price, rising demand for replacements and relays.
DOWNLOAD FREE SAMPLE REPORT AT https://www.fiormarkets.com/report-detail/419434/request-sample
Key players operating in the global electric fuse market include Siemens, Legrand, G&W Electric Company, Hubbell, Schneider Electric, Mersen, S&C Electric Company, Schurter, Littelfuse, ABB, Bel Fuse Inc., Eaton and others. To gain a striking market share in the global electric fuse market, the key players are now focusing on adopting strategies such as mergers and acquisitions, joint venture, product innovation, product development, partnership and collaborations.
- In January 2020, Siemens India acquired C&S Electric.
- In January 2019, Mersen expanded its product portfolio by launching the Class RK1 Reducer Fuses product series. Class RK1 Reducer Fuse is ideal for its high-reliability performance, arc flash mitigation, and durability features that distinguish it from other fuses.
The medium electric fuse segment dominated the market and held the largest market share of 60% in the year 2020
On the basis of the voltage, the global electric fuse is segmented into low voltage and medium voltage. The medium electric fuse segment dominated the market and held the largest market share of 60% in the year 2020. Transformers and substations, electric utilities, heavy industries like the oil and gas industry and distribution networks are the major end-users of the medium voltage fuses. It is used for motor circuit protection, current limiting function and protection from default current.
The power fuse and fuse link segment dominated the market and held the largest market share of 45% in the year 2020
On the basis of the type, the global electric fuse is segmented into distribution cutouts, power fuse and fuses link and cartridge and plug fuse. The power fuse and fuse link segment dominated the market and held the largest market share of 45% in the year 2020. The power fuse and fuse link are used in various applications like circuit and motor protection, transmission and distribution networks, transformers and renewable energy generation. The price of the power fuse and fuse link is average, which further attracts the industries and utilities to use this fuse to avoid meter tripping and short circuit.
The utilities segment dominated the market and held the largest market share of 50% in the year 2020
On the basis of end-user, the global electric fuse is segmented into industrial, commercial, residential, transportation and utilities. The utilities segment dominated the market and held the largest market share of 50% in the year 2020 and is expected to witness the highest CAGR of 6.1% by value in the forecast period. The surge in the safety issues related to distributed energy resources and photovoltaic systems increased the demand for electric fuses from utilities.
Browse full report with TOC at https://www.fiormarkets.com/report/electric-fuse-market-by-voltage-low-medium-type-419434.html
Regional Segment of Electric Fuse Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global electric fuse market is classified into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. Asia-Pacific holds the largest market share in China and India. The growth of the Asia-Pacific region is attributed to growing urbanization, industrialization in emerging economies, rising electrification projects, increasing investments in grid integration and renewables sources. The Middle East & Africa is expected to witness significant growth, owing to huge investments to develop electricity infrastructure in the rural areas. With the help of the rising grid investments in 2020, especially in emerging and developing economies, the market of the Asia-Pacific region is anticipated to grow further in the forecast period.
Request for Customization: https://www.fiormarkets.com/enquiry/request-customization/419434
About the report:
The global electric fuse market is analyzed on the basis of value (USD billion). All the segments have been analyzed on a global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insights into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, and competitors' position grid analysis.
For Instant Purchase: https://www.fiormarkets.com/checkout.html?reportid=419434&type=single
Customization of the Report:
The report can be customized as per client requirements. For further queries, you can contact us on sales@fiormarkets.com or +1-201-465-4211. Our executives will be pleased to understand your requirements and offer you the best-suited reports.
About Fior Markets
Fior Markets is a futuristic market intelligence company, helping customers flourish their business strategies and make better decisions using actionable intelligence. With transparent information pool, we meet clients’ objectives, commitments on high standard and targeting possible prospects for SWOT analysis and market research reports. Fior Markets deploys a wide range of regional and global market intelligence research reports including industries like technology, pharmaceutical, consumer goods, food and beverages, chemicals, media, materials and many others. Our Strategic Intelligence capabilities are purposely planned to boost your business extension and elucidate the vigor of diverse industry. We hold distinguished units of highly expert analysts and consultants according to their respective domains. The global market research reports we provide involve both qualitative and quantitative analysis of current market scenario as per the geographical regions segregated and comprehensive performance in different regions with global approach. In addition, our syndicated research reports offer a packaged guide to keep companies abreast of the upcoming major restyle in their domains. Fior Markets facilitates clients with research analysis that are customized to their exact requirements, specifications and challenges, whether it is comprehensive desk research, survey work, composition of multiple methods, in-detailed interviewing or competitive intelligence. Our research experts are experienced in matching the exact personnel and methodology to your business need.
Contact Us
Avinash D
Head of Business Development
Phone: +1-201-465-4211
Email: sales@fiormarkets.com
Web: www.fiormarkets.com
To Read Top Industries Reports, Visit our Affiliated Website: https://www.marketquest.biz
Related Reports
Global Automated 3D Printing Market - https://www.fiormarkets.com/report/global-automated-3d-printing-market-by-process-material-362203.html
Global Automated Fingerprint Identification System (AFIS) Market - https://www.fiormarkets.com/report/global-automated-fingerprint-identification-system-afis-market-by-362219.html
Acoustic Wave Sensor Market - https://www.fiormarkets.com/report/acoustic-wave-sensor-market-by-type-saw-sensors-407119.html
Machine Control System Market - https://www.fiormarkets.com/report/machine-control-system-market-by-type-total-stations-407155.html