The latest survey report on "Electric Fuse Market by Type (Power Fuse & Fuse Link, Distribution Cutouts, Cartridge & Plug Fuse,), Voltage (Low, Medium), End-Users (Utilities, Industrial, Residential, Commercial, Transportation), region - Global Forecast to 2026", is projected to reach USD 4.6 billion by 2026 from an estimated USD 3.5 billion in 2021, at a CAGR of 5.8%. This growth can be attributed to the growing investments in the renewable and energy storage, increasing investments in T&D infrastructure plans, and revival of investments in the construction sector.
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Primary Research
This study involved 4 major activities in estimating the current market size for electric fuse. Exhaustive secondary research was done to collect information on the market and peer market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. Thereafter, the market breakdown and data triangulation were done to estimate the market size of the segments and sub-segments.
Asia Pacific is estimated to dominate the global electric fuse market in 2018 owing to the development and growth of countries such as China, Japan, Australia, and India, where there is a huge requirement for power and infrastructural development due to growing population and urbanization. The transportation infrastructure in the region is at the verge of getting electrified. This also creates opportunities for electric fuses in the Asia Pacific railway and traction segment. Furthermore, the region is the largest consumer of solar energy, and countries such as India and China are driving the renewable energy market. For instance, India has set goals for generating 175 GW of electricity through renewables by 2022. Such factors are likely to drive the Asia Pacific electric fuse market.
Key Market Players
Schneider Electric (France), Siemens (Germany), Mersen (France), ABB (Switzerland), Eaton (Ireland), Bel Fuse Inc. (US), Littelfuse (US), Legrand (France), S&C Electric Company (US), G&W Electric Company (US), Schurter (Switzerland), and Hubbell (US)
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Electric Fuse Market, by voltage
The medium voltage segment is estimated to dominate the electric fuse market in 2018 and is projected to have the largest market share during the forecast period. The medium voltage range for fuses is defined as fuses with the capacity to open circuit at voltage range above 1 kV to 38 kV. The high demand for medium voltage fuse is due to the continuous construction of transmission and distribution network along with the high replaceability of fuses. The major end uses of medium voltage fuses are for electric utilities, transformers & substations, distribution networks, and heavy industries such as oil & gas industry. The medium voltage fuses are mostly the power fuses used for current limiting function, motor circuit protection, and back up for protection from default current.
Electric Fuse Market, by end-use
The transportation segment accounted for the second highest CAGR during the forecast period. The demand for electric fuses is driven by the high growth and developments in the global railway industry. Furthermore, the fast commercialization of electric trains and metros from the developing nations is driving the demand for electric fuses from tractions. Furthermore, the concepts of high speed trains, freight wagons, bullet trains will create opportunities for electric fuses in the near future.
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What you can explore with this report?
- To define, describe, and forecast the global electric fuse market by type, voltage, end-users, and region
- To provide detailed information on the major factors influencing the growth of the electric fuse market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the electric fuse market with respect to individual growth trends, prospects, and contribution of each segment to the market
- To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
- To forecast the growth of the electric fuse market with respect to the major regions (Asia Pacific, Europe, North America, South America, and The Middle East and Africa)
- To strategically profile key players and comprehensively analyze their market share and core competencies
- To track and analyze competitive developments such as contracts & agreements, expansions, new product developments, mergers & acquisitions, and partnerships in the electric fuse market
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