Electric Fuse Market Report, 2021 Global Share, Key Players, Segmentation Analysis, Business Growth and Forecast to 2027

 A comprehensive overview of the Electric Fuse market is recently added by UnivDatos Market Insights to its humongous database. The Electric Fuse market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the Electric Fuse market. The Electric Fuse market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the Electric Fuse market at the global and regional levels. Electric Fuse Market is expected to grow at a CAGR of X% from 2021-2027 to exceed US$ X million by 2027.

Market Overview  

The pursuit of enhanced driving comfort and increasing incorporation of electronics in the 1980s led to the introduction of new technologies such as automatic wipers, power windows and air conditioning. Keeping up with these trends, automobiles started having multiple motors. Auto fuses which blow out immediately when their threshold capacity is exceeded were not suited for these vehicles as they generate a far greater current when switched on as compared to their rated load. In accord to this a new type of fuse was developed called the slow blow fuses. These delayed the temperature rise due to high currents and so did not easily blow out. PEC started sales of these slow blow switches in 1982. These got famous worldwide by the 2000s. Since the late 1990s, automakers around the world started looking for ways for environmentally friendly production of vehicles. Electricity is the most promising source of environment-friendly production of vehicles. Thus, the production of hybrid vehicles and EVs has ramped up significantly in the past few years. Hybrid vehicles combine both conventional engines with electric motors. These next gen vehicles need a completely different type of fuse. Much higher voltages are needed for electric powered driving and for the on-board electronics. The high voltage can also give rise to an arc discharge phenomenon which results in the destruction of circuits. Dedicated fuses for hybrid cars were adopted in 1997 called EVFC. These are being used to this day by all automakers around the world in a wide range of applications. They have also been adopted in F1 and other racing vehicles.

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COVID-19 Impact

The covid-19 pandemic has had a direct or indirect impact on most industries including the automobile and the power generation industry. Both these industries are the key players in the electric fuse market and have thus indirectly affected the electric fuse market. The electricity demand dropped to Sunday levels during the entire lockdown due to the dramatic reduction in industry and services use, which was only partially offset by the higher residential use. Even after the slow opening of lockdowns during June and July, the electricity demands 10% and 5% respectively below the 2019 level from the same month. Car Sales also showed a decline during the pandemic as most people were confined at home and the need for automobiles decreased. However, the sales of electric cars did shoot up during the pandemic period. The electric car sales grew over 40% from 2019 which also had a record-breaking number of sales of 2.1 million electric cars.

Electric Fuse market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.

By Fuse Type, the market is primarily segmented into

• Power Fuse & Fuse Link
• Distribution Cutout
• Cartridge & Plug Fuse

Amongst Fuse Type, the Power Fuse & Fuse Link segment of the Electric Fuse market was valued at US$ X million in 2020 and is likely to reach US$ X million by 2027 and is growing at a CAGR of X% from 2021-2027.

By Voltage Range, the market is primarily segmented into

• Low
• Medium
• High

Amongst Voltage Range, Medium segment accounted for a market valuation of US$ X million in 2020 and is expected to reach US$ X million by the year 2027, at a CAGR of X% over the analyzed period.

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By Application, the market is primarily segmented into

• Utilities
• Industrial
• Residential
• Commercial
• Transportation

Amongst Application, the Utilities segment of the Electric Fuse market was valued at US$ X million in 2020 and is likely to reach US$ X million by 2027 and is growing at a CAGR of X% from 2021-2027.

Electric Fuse Market Geographical Segmentation Includes:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Based on the estimation, the Asia-Pacific region dominated the Electric Fuse market with almost X% revenue share in 2020. Asia-Pacific also saw the highest CAGR of X% in the forecast period due to the increasing industrialization.

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The major players targeting the market includes

• Littelfuse, Inc.
• ABB Ltd.
• Mersen S.A.
• Schneider Electric SE
• Bel Fuse Inc.
• Bourns Inc.
• SCHURTER AG
• Eaton Corporation Plc
• Siemens AG
• SIBA GmbH

Competitive Landscape

The degree of competition among prominent global companies has been elaborated by analysing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Electric Fuse market. The leading players have been analysed by using research methodologies for getting insight views on global competition.

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Key questions resolved through this analytical market research report include:

• What are the latest trends, new patterns, and technological advancements in the Electric Fuse market?
• Which factors are influencing the Electric Fuse market over the forecast period?
• What are the global challenges, threats, and risks in the Electric Fuse market?
• Which factors are propelling and restraining the Electric Fuse market?
• What are the demanding global regions of the Electric Fuse market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?

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