- Report ID: BMRC 1011 | Number of pages: 200 | Publish Date: Apr 2020
Status: Published | Category: Semiconductor | Delivery Timeline:
"Electric Fuse Market is valued at USD 3.31 Billion in 2018 and expected to reach USD 4.42 Billion by 2025 with the CAGR of 4.24% over the forecast period."
The factors such as growing investments in renewable and energy storage, increasing investments in infrastructure plans and renewal of investments in construction sector are contributing in the growth of the electric fuse market.
A Fuse is one of the types of safety device used for the protection from overcurrent in an electrical circuit. The metal wire or strip which melts when too much current flows through it is an essential component for stopping or interrupting the current. Once fuse has operated it is an open circuit, it must be replaced or rewired depending upon type and hence it is known as sacrificial device. there are thousands of different fuse designs are available nowadays for specific current and voltage ratings, response times and breaking capacity depending on applications,.
For providing adequate protection without needless interruption these fuses are chosen depending on the time and current operating characteristics. The maximum fuse current rating for particular circuits usually defined by the wiring regulations. The prime reasons for the fuse operations are short circuits, mismatched loads, overloading or device failure. In the alternative to fuses, circuit breakers are used but it has different characteristics.
The electric fuse market is segmented into product type and applications. On the basis of product type the market is segmented into high voltage fuses and low voltage fuses. On the basis of application, the market is segmented into power, automotive, electrical and electronics and industrial.
The regions covered in this Electric Fuse Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Hall Effect Sensor is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
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Increasing sophistication, functionality and convergence of electronic devices is driving the market growth.
The demand for sophisticated electronic devices increased and this factor is propelling the market growth. These electronic devices with higher functionality and higher convergence are contributing to the growth of the market. Along with growing preference of consumers for connectivity, digital sources across the automotive industries are also boosting the market growth. According to Congressional Research Service, the number of active IoT devices is about 9.9 billion in 2019 and expected to grow to 21.5 billion in 2025. Hence the integration of Internet of Things (IoT) devices in the circuit protection devices across various applications is propelling the market growth. Moreover the improved controlling focus toward facilitating emission reduction in vehicles with the rapid emergence of electric and hybrid vehicles will enhance the market growth. The constant transformation of network systems for carrying stability and reliability of electrical power driven by continuously expanding residential and industrial sector is also increasing the product demand.
Asia Pacific is dominating the Electric Fuse Market.
Geographically, Asia Pacific region is dominating the electric fuse market and it is expected that it will maintain its dominance for the forecast period. This is due to the region has major countries such as India, Japan and China which are contributing in the market growth. According to Asian Development Bank, Electricity generation capacity in developing Asia grew by 4.3% annually and more than doubled during the period between 1990 and 2007. Due to this infrastructural development there is a continuous development toward the availability of electricity which is also the major factor for raising the demand for an electric fuse in the Asia Pacific region.
Moreover, North America region is at second place in dominance due to huge investment in infrastructure, especially in commercial sector. Along with this Europe also has significant market share due to high adoption of advanced power grid and strict government regulations.
Key Benefits for Global Electric Fuse Market Reports –
Global market report covers in depth historical and forecast analysis.
Global market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global market report helps to identify opportunities in market place.
Global market report covers extensive analysis of emerging trends and competitive landscape.
By Product Type: High voltage fuses, Low voltage fuses
By Application: Power, Automotive, Electrical and electronics, Industrial
Regional & Country Analysis
North America, U.S., Mexico, Canada , Europe, UK, France, Germany, Italy , Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of Middle East and Africa
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Electric Fuse Market 2020 By Product Type (High voltage fuses, Low voltage fuses), By Application (Power, Automotive, Electrical and electronics, Industrial) Forecast to 2025