Electric Fuse Market Size, Share and Global Trend By Type (Power Fuse & Fuse Link, Cartridge & Plug Fuse, Distribution Cutout), By Voltage (Low Voltage, Medium Voltage, High Voltage), By End-User (Electric Utility, Residential, Commercial, Industrial, Transportation) and Regional Forecast, 2024-2032

The electricity much attributes the revolution in human life. It is essential in the modern life of human being, and one cannot think of the world without electricity. Electricity is part of our daily living such as lighting rooms, working fans, and domestic appliances like refrigerator, AC, washing machine and many more. Meanwhile, safety and reliability are utmost in the operation of electric devices.

An electric fuse is necessary for the safe operation and to avoid any fire hazard due to short circuit. Fuse is acting as a protector for appliances by creating an open circuit condition when the extreme current runs into it. The metallic strip of the fuse got melted by the excessive heat generated due to the extreme current that prevents further damage or short circuit. Thus fuse intercept not only severe damage to valuable electric appliances but also save human lives by preventing fire hazard due to short circuit.

The electric fuse market is segmented based on the type, voltage and end-users. Type is further bifurcated into power fuse & fuse link, cartridge & plug fuse, distribution cutout, and others. These fuses are used in transformers, electrical appliances, and in so many other applications. The electric utility offers the largest market for electric fuse due to ongoing development in transmission and distribution network, upgradation of grid infrastructure is expected to increase the demand for electric fuse. Subsequently, the industrial and residential sector is playing a pivotal role in the growth of the electric fuse market.

The expansion of electric utility attributed by continuous demand for electricity by the industrial and commercial sector. The demand for medium voltage fuses in transmission & distribution network, electric circuits, transformers, etc. Rapid urbanization is causing the high consumption of domestic appliances such as TV, AC, refrigerator, dishwasher, and many more would drive the electric fuse market for safety purpose and prevention of any fire hazard due to short circuit.

An electric fuse is not reusable and must be replaced once the filament in the fuse melt due to overheating. The large scale adoption of advanced technologies such as circuit breaker and vacuum interrupter which offer higher safety and reliability is expected to hinder the market growth of the electric fuse.

Key Players Covered

The most pivotal companies involved in manufacturing of electric fuses are Siemens, ABB, Eaton, Emerson, Legrand, General Electric, Schneider Electric, Littlefuse, Inc., Mersen, Bel Fuse Inc., Hubbell Incorporated, and Schurter among others.

SEGMENTATION 

Regional Analysis

The global electric fuse market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is known for its high-tech technologies in the world of digitization. The tech giants in the world, such as Google, Facebook, Twitter, Apple, Amazon, etc. are situated in the United States that surging the demand for reliable electricity. The government is undertaking the projects to replace the existing old substations to enhance the transmission and distribution network. Simultaneously the authorities are executing safety features in electric utility to prevent damages and loss of life that would surge the demand for electric fuses in North America. The trade of electronics and electrical components is experiencing the increasing demand in Europe. Economic recovery and electrification of areas such as automation and automotive along with decentralization of energy through renewable sources. A vital component of the safety is the integration of fuses which drive the demand of the fuse market in Europe. There is a high potential market in the Asia Pacific owing to increased manufacturing and industrial units. China and India are among the most significant capital market attributing the growth of the electric fuse market in the Asia Pacific. The African countries lack the necessary grid infrastructure; meanwhile, the local government, along with international organization, are building transmission and distribution network for easy accessibility of electricity. On the other hand, the oil-rich nations are dominated by major infrastructure projects that would drive the electric fuse market in MEA.

Key Industry Developments

• In August 2018, Global leader of electrical power and advanced materials, Mersen recently launched globally certified HP15FHM32 1500VDC Helio Protection fuse holder series for photovoltaic application. The new fuse includes finger-safe rotating fuse carrier that accepts 10/14 x 85 mm gPV fuses, offering the next level of safety for utility-scale photovoltaic applications.
• In May 2018, Mersen announced the signing pact for the acquisition of FTCap that enable the company to broaden its product portfolios such as high-speed fuses, cooling devices and laminated bus bars to capacitors. This will strengthen the Merson’s position in the global power electronics market.