Electric Fuse Market: Current Analysis and Forecast (2021-2027)

Electric Fuse Market: Current Analysis and Forecast (2021-2027)

  • UnivDatos Market Insight
  • August 2021
  • Power
  • 176 pages

Report Description

A fuse is an electric safety device which protects an electric circuit from excessive electric current. Electric fuses have a long history. They have widely been used for both high voltage and low voltage power systems. The pre-arc I-t (current vs. time) is an important parameter of electric fuse. Traditionally, the electrical fuse is designed by experiment and the I-t characteristics are then obtained through experiments.

The fuse is an intentional weak link in a circuit. It is a thermally responsible device which is designed to provide overcurrent protection. The fuse is used to protect equipment’s and conductors from over damaging and can quickly deenergize faulted circuits which helps to minimize the hazards to personnel. Fuses are of many types like fast-acting, time delay or current limiting and non-current limiting. Fast acting fuses are designed to respond quickly to overload currents, whereas time delay fuses carry an overload current for a predetermined amount of time. Fast acting fuses are designed to respond to overload currents whereas time delay fuses can carry an overload current for a predetermined amount of time. Time delay currents can carry starting current and other temporary overloads in this way. Current limiting fuses limit the maximum peak current (Ip) that could flow during a short circuit. Whether the fuse is classified as fast-acting or time-delay, current-limiting fuses will open quickly during short-circuit conditions.

Based on fuse type, the electric fuse market is segmented into Power Fuse & Fuse Link, Distribution Cutout, and Cartridge & Plug Fuse. Amongst fuse type, the power fuses and fuse links segment of the market was valued at US$ XX million in 2020 and is likely to reach US$ XX million by 2027 growing at a CAGR of XX% from 2021-2027. 

Based on Voltage Range, the electric fuse market is segmented into Low, Medium, and High. Amongst voltage range, medium segment accounted for a market valuation of US$ XX million in 2020 and is expected to reach US$ XX million by the year 2027, at a CAGR of XX% over the analysed period. 

Based on application, the electric fuse market is segmented into Utilities, Industrial, Residential, Commercial, and Transportation. The utilities segment generated revenue of US$ XX million in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of US$ XX million by 2027F.

For a better understanding of the market adoption of Electric Fuse Industry, the market is analysed based on its worldwide presence in the countries such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. Asia-Pacific will dominate the Electric Fuse market on account of increasing industrialization all over the world.

Some of the major players operating in the market include Littelfuse, Inc., ABB Ltd., Mersen S.A., Schneider Electric SE, Bel Fuse Inc., Bourns Inc., SCHURTER AG, Eaton Corporation Plc, Siemens AG, and SIBA GmbH. Several M&As along with partnerships have been undertaken by these players to boost their presence in different regions.

Electric Fuse Market was valued at US$ XX million in 2020 and is projected to expand significantly with a CAGR of XX% from 2021-2027F to US$ XX million in 2027.  The Electric Fuse Market is expected to witness a boost on account of its high adoption in the Asia Pacific region.

Electric Fuse Market is expected to exceed the market valuation of more than US$ XX billion in 2027 and is expected to grow at a significant CAGR of XX% during the forecast period (2021-2027). A fuse is an electric safety device which protects an electric circuit from excessive electric current. Electric fuses have a long history. They have widely been used for both high voltage and low voltage power systems. The pre-arc I-t (current vs. time) is an important parameter of electric fuse. Traditionally, the electrical fuse is designed by experiment and the I-t characteristics are then obtained through experiments. The fuse is an intentional weak link in a circuit. It is a thermally responsible device which is designed to provide overcurrent protection. The fuse is used to protect equipment’s and conductors from over damaging and can quickly deenergize faulted circuits which helps to minimize the hazards to personnel. Fuses are of many types like fast-acting, time delay or current limiting and non-current limiting. 

Key reasons for the industry growth include is the growth of industries which are energy-intensive and require large amounts of fuel and electricity for the operation of mechanical drivers, furnaces, boilers, ventilation, heating, and air-conditioning (HVAC) systems etc. Traditionally, the industries used IC engines, furnaces, and fossil-fuel boilers among others as non-electric sources of energy. Most industries are shifting towards electrification with the global movement towards the use of low carbon future and to ensure reliable operations. With this increase in electricity use, the use of electric fuse is also increasing, which is influencing the market growth.

According to the 2017 report Electrification Futures Study by the National Renewable Energy Laboratory (NREL), currently only 25% of the total world energy demand is met by electricity. According to the US Energy Information Administration, the machinery industry is expected to increase its electrification by up to 13% and the electrical products and plastics industry by 8% by 2050. Few industries like that of electrical products, machinery and computers already fulfill up to 50% of their energy requirements by electricity. This increased use of electricity in all compartments of industries is influencing the growth of the electric fuse market.

Littelfuse, Inc., ABB Ltd., Mersen S.A., Schneider Electric SE, Bel Fuse Inc., Bourns Inc., SCHURTER AG, Eaton Corporation Plc, Siemens AG, and SIBA GmbH are some of the prominent players operating in the Electric Fuse market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst Fuse Type, Power Fuse & Fuse Link segment holds the major share”

Based on fuse type, the electric fuse market is segmented into Power Fuse & Fuse Link, Distribution Cutout, and Cartridge & Plug Fuse. Amongst fuse type, the power fuses and fuse links segment of the market was valued at US$ XX million in 2020 and is likely to reach US$ XX million by 2027 growing at a CAGR of XX% from 2021-2027. These are generally medium voltage fuses with the rating between 1.5 kV and 63 kV. These are mainly used in transmission and distribution network, circuit and motor protection, transformer, in industrial applications and in renewable energy generation and distribution. 

“Amongst Voltage Range, Medium Segment holds the major share”

Based on Voltage Range, the electric fuse market is segmented into Low, Medium, and High. Amongst voltage range, medium segment accounted for a market valuation of US$ XX million in 2020 and is expected to reach US$ XX million by the year 2027, at a CAGR of XX% over the analyzed period. Medium voltage range fuses are fuses with the capacity to open circuits at a voltage range above 1 to 38 kV. Medium voltage fuses are in high demand due to the continuous construction of transmission and distribution networks along with the high replaceability of fuses. 

“Amongst Application, Utilities Segment holds the major share”

Based on application, the electric fuse market is segmented into Utilities, Industrial, Residential, Commercial, and Transportation. The utilities segment generated revenue of US$ XX million in 2020 and is expected to grow at a CAGR of XX% during the forecast period to reach a market valuation of US$ XX million by 2027F. Utilities must manage grids and provide reliable and secure power. Thus, the demand for fuses is there even with the availability of substitutes. 

“Asia Pacific represents one of the largest markets of Electric Fuse market” 

For a better understanding of the market dynamics of the Electric Fuse market, a detailed analysis was conducted for different regions across the globe including North America (the U.S, Canada, and the Rest of North America), Europe (Germany, France, Italy, United Kingdom, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC) and Rest of the World. Asia Pacific dominated the market and grabbed around XX% market share owing to the growing industrialization in the region. 

Reasons to buy this report:

  •  The study includes market sizing and forecasting analysis validated by authenticated key industry experts
  • The report presents a quick review of overall industry performance at one glance
  •  The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
  • Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
  •  The study comprehensively covers the market across different segments
  •  Deep dive regional level analysis of the industry

Customization Options:

Electric Fuse market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

Companies Covered

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

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Table of Content

1 MARKET INTRODUCTION
1.1.Market Definitions
1.2.Objective of the Study
1.3.Limitation
1.4.Stake Holders
1.5.Currency Used in Report
1.6.Scope of the Electric Fuse Market Study

2 RESEARCH METHODOLOGY OR ASSUMPTION
2.1. Research Methodology for the Electric Fuse Market
2.1.1. Main Objective of the Electric Fuse Market

3 MARKET SYNOPSIS (INDUSTRY AT A GLANCE)

4 EXECUTIVE SUMMARY

5 ELECTRIC FUSE MARKET REVENUE (US$ BN), 2021-2027F

6 COVID-19 IMPACT

7 MARKET INSIGHTS BY FUSE TYPE

7.1. Power Fuse & Fuse Link
7.2. Distribution Cutout
7.3. Cartridge & Plug Fuse

8 MARKET INSIGHTS BY VOLTAGE RANGE
8.1. Low
8.2. Medium
8.3. High

9 MARKET INSIGHTS BY APPLICATION
9.1. Utilities
9.2. Industrial
9.3. Residential
9.4. Commercial
9.5. Transportation

10 MARKET INSIGHTS BY REGION
10.1. NORTH AMERICA ELECTRIC FUSE MARKET
10.1.1. United States of America
10.1.2. Canada
10.1.3. Rest of North America
10.2. EUROPE ELECTRIC FUSE MARKET
10.2.1. United Kingdom
10.2.2. Germany
10.2.3. France
10.2.4. Spain 
10.2.5. Italy
10.2.6. Rest of Europe
10.3. ASIA-PACIFIC ELECTRIC FUSE MARKET
10.3.1. China
10.3.2. Japan
10.3.3. India
10.3.4. Australia
10.3.5. Rest of Asia-Pacific
10.4. REST OF THE WORLD ELECTRIC FUSE MARKET

11 ELECTRIC FUSE MARKET DYNAMICS
11.1.Drivers
11.2.Challenges
11.3.Impact Analysis

12 ELECTRIC FUSE MARKET OPPORTUNITIES

13 ELECTRIC FUSE MARKET TRENDS

14 LEGAL AND REGULATORY FRAMEWORK

15 DEMAND AND SUPPLY SIDE ANALYSIS

15.1. Demand Side Analysis
15.2. Supply Side Analysis
15.2.1. Top Product Launches
15.2.2. Top Business Partnerships
15.2.3. Top Business Expansions, Investments and Divestitures
15.2.4. Top Merger and Acquisitions

16 VALUE CHAIN ANALYSIS

17 COMPETITIVE SCENARIO

18 COMPANY PROFILED

18.1.Littelfuse, Inc.
18.2.ABB Ltd.
18.3.Mersen S.A.
18.4.Schneider Electric SE
18.5.Bel Fuse Inc.
18.6.Bourns Inc.
18.7.SCHURTER AG
18.8.Eaton Corporation Plc
18.9.Siemens AG
18.10.SIBA GmbH

19 DISCLAIMER 

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