Global Electric Fuse Market Research Report: Information, by Type (Power Fuse & Fuse Link, Distribution Cutouts and Cartridge & Plug Fuse), by Voltage (Low, Medium and High), by End-Use (Utilities, Industrial, Commercial and Transportation) and by Region



Electric Fuse Market Scenario

The use of electric fuse in ubiquitous in electrical component. These current sensitive devices are used designed to serve as the weak link in the electrical circuit. By reliably melting under current overload conditions, they provide protection to electrical components or complete circuits. Market Research Future (MRFR) has published an in-depth report on the global electric fuse market, covering all the essential accruals based on all pertinent factors that can impact the market over the forecast period of 2019-2024. MRFR's analysis has projected the electric fuse market to reach a valuation of USD 3.45 Bn at a CAGR of 4.50% by the end of the forecast period.

The use of electrical fuse in almost inevitable in electric components, appliances, as well as electrical systems. Demand for electric fuse is propelled by ongoing efforts across the globe towards the upgradation of electric grids and increase in electricity generation capacity on a global scale. Rebound in constructional activities in the developing regions turns out to be a contributing factor to the growth of the market. Increase in residential construction, in particular, has presented favourable opportunities for the growth of the market.

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Segmentation

The global electric fuse market has been segmented based on type, voltage, end-use.

On the basis of end-use, the global market is segmented as utilities, industrial, residential, and commercial. The utilities segment is expected to dominate the market during the forecast period due to the rising safety issues related to photovoltaic systems and distributed energy resources, which would drive the demand for electric fuses from the utilities.

On the basis of type, the global market is segmented as power fuse & fuse link, distribution cutouts, and cartridge & plug fuse. The power fuse & fuse link segment is expected to dominate the market during the forecast period.

On the basis of voltage, the global market has been segmented into low, medium, and high voltage. The medium voltage segment is expected to dominate the market during the forecast period.

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Regional Analysis

Region-wise, the electric fuse market has been segmented into North America, Europe, the Middle East & Africa (MEA), and Asia Pacific (APAC).

Increasing investment in smart grid infrastructure along with high expenditure on the development of transmission & distribution network infrastructure is faring well for the growth of the Asia Pacific electric fuse market. The recent years have witnessed heightened infrastructure development activities, especially the development of renewable power generation, which has further boosted the demand for electric fuse within the market.

North America is anticipated to be the second largest electric fuse market. Accelerated investment in transmission and distribution lines is favoring the growth of the North America market. The US is the largest country-specific market within North America, which is propelled the presence of major market leaders in the region who are actively engaged in product development, product launch, and innovations. Ongoing efforts to update electrical gird and widespread adoption of renewable energy sources has propelled the growth of the market in the US.

Competitive Landscape

Hubbell (US), Little Fuse (US), Schneider Electric (France), Mersen (France), Bel Fuse (US), G&W Electric (US), Siemens (Germany), Eaton (Ireland), S&C Electric Company (US), ABB (Switzerland), and Legrand (France) are the notable players in the electric fuse market.

Also Read: https://www.marketwatch.com/press-release/electric-fuse-market-size-share-analysis-2019---global-trends-current-scenario-growth-factor-top-manufacturers-recent-development-and-regional-forecast-to-2024-2019-10-21

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