Rapid increase in energy consumption has been largely driven by the long-term trend of production growth in energy-intensive industrial sectors. Fuses have been used as essential safety devices from the early days of electrical engineering. Electricity consumption is increasing exponentially across the globe. Governments of various countries are undertaking modernization and development of power generation infrastructure. Electricity plays a crucial role in modern life. Electric fuse is an important component of the energy industry. Fuse is an electrical safety device that provides overcurrent protection of an electrical circuit power generation, transmission, and distribution sectors account for extensive use of electric fuse. Developed and developing countries are striving to develop new power generation, transmission, and distribution infrastructure. They are also revamping their existing infrastructure. Electric fuse forms an important component of the equipment utilized in power infrastructure. Increase in demand for electricity, especially in the transmission and distribution networks, is boosting the demand for electric fuse.
Electric fuse is considered an ideal equipment for power utility companies. It helps connect two remote substations. Often, substations get overloaded and require an extra transformer capacity to improve the overall reliability of the transformer.
The global electric fuse market is projected to reach a size of USD 4.6 billion by 2027, at a CAGR of +5%, from an estimated USD 3.5 billion in 2021.
major players such as ABB, Panasonic, Legrand, General Electric, Siemens, Edison Fusegear, TE Connectivity, Hubbell, Mersen, C&S Electric, etc. to gain strong market presence.
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Increasing industrial application of electric fuse
Electric fuse finds extensive application as a robust protection device for several industrial equipment such as transformers, circuit breakers, solenoids, speed drives, meters, lightning blasts, motors, etc. which positively influence the market growth in coming years.
Moreover, inclination towards reducing the cost of repairing expensive power equipment by preventing fire hazards and other catastrophic failures is likely to fuel the product demand. Other prominent factors complementing the product adoption are limited maintenance requirements, higher reliability and high breaking capacity.
Increasing adoption of low-voltage electric fuse in consumer electronics
With increasing demand for consumer electronics and white goods along with rising need to protect complex battery packs deployed across wide range of portable products, demand for low voltage electric fuses has increased to a great extent. Further, owing to the ability of low voltages electric fuses to offer reliable protection to electrical installations and signal circuits against current overload events and short circuit will support the product penetration.
Electric Fuse Market Segmentation
Segmented by type,
- Power fuse and fuse links
- Distribution cutouts
- Cartridge and plug fuses
- Others (Capacitor fuses, dropout fuse, battery fuses, and fuse pullers)
Segmented by voltage
- Low Voltage
- Medium Voltage
Segmented by end-use,
- Asia Pacific
- North America
- Middle East & Africa
- South America
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- Electric fuse manufacturers and distributors
- Power generation companies
- Renewable energy research institutes
- Manufacturing industry
- Government and research organizations
- Consulting companies in the power industry
- Investors and shareholders
- In January 2019, Mersen announced the launch of the Class RK1 Reducer Fuses product series. The newly developed product is ideal for manufacturing facilities and has high-reliability performance, durability, and arc flash mitigation features to distinguish it from other fuses. The company is determined to expand its product portfolio through such developments.
- In August 2016, Bel Fuse inaugurated a power solutions Bel Power Solutions facility in Taoyuan City, Taiwan. The company intends to expand its geographical reach in Asia Pacific, also enhancing its R&D facilities in the region.
- In May 2018, Mersen acquired FTCap, which specializes in the development and manufacturing of capacitors. The company intends to further strengthen its product portfolio for electrical systems. The acquisition is expected to help Mersen broaden its range of high current fuses, cooling devices, and laminated busbars to cater to high-performance electrical systems.
- In September 2018, Littlefuse launched a new series of PICO 242 Series Hazardous Area Barrier network fuse that prevents fires and explosions in critical situations. The fuse can prevent the circuit from overheating and thus minimizing the risk of a short circuit. The company intends to strengthen its product portfolio with such developments and launches.
- In November 2018, Schurter introduced a new 6.3 × 32 mm ceramic fuse series, named SUT-H, which operates under high current ratings of 10 A to 50 A. The new Schurter SUT-H is specially made for single-phase applications and can resist high current inrush. Schurter has plans to grow its product portfolio for high-rated current fuses for a wide application range.
Detailed TOC of Global Electric Fuse Market Research Report-
– Electric Fuse Market Introduction and Market Overview
– Electric Fuse Market, by Application
– Electric Fuse Market Industry Chain Analysis
– Electric Fuse Market, by Type
– Industry Manufacture, Consumption, Export, Import by Regions
– Industry Value ($) by Region
– Global Electric Fuse Market Status and SWOT Analysis by Regions
– Major Region of Electric Fuse Market
- i) Global Electric Fuse Market Sales
- ii) Global Electric Fuse Market Revenue & market share
– Major Companies List
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