According to the latest market research study by Technavio, the global electric fuse market is expected to grow at a CAGR of close to 4% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global electric fuse market regarding revenue and emerging market trends. The report also includes a competitive analysis and forecasts for various market segments and all geographical segmentations.
Technavio research analysts categorize the market based on the end-user
Click here to request a free sample of this report
The top three revenue contributing end-user segments are discussed below:
Global electric fuse market by power sector: The power application consists of residential, commercial, and power generation sectors. With rapid urbanization and globalization, the service class population are increasing, which is creating the need for the commercial setups.
“The grid revamps, and expansion and rise in renewable energy sources are likely to propel the demand for electric fuses. The power sector is witnessing huge grid expansion. Countries like Russia, China, the UAE, and the US have set up new power generation plants that are expected to come into action by the end of the forecast period. Moreover, the Organization for Economic Co-operation and Development (OECD) nations are making attempts to comply with the Clean Power Plan and reduce reliance on coal for power generation,” says Anju Ajaykumar, a lead analyst at Technavio for research on tools and components.
Global electric fuse by automotive sector: Electric fuses are used in various parts of vehicles. Thus, the growth of automotive along with demand for electronic components will drive the demand for electrical fuses. Rising sales, growing demand for automobiles, and swelling investment in the automotive sector will spur the demand for electric fuses. The demand for high-tech features in vehicles drives the demand for electronic and electrically driven accessories, which requires high-voltage systems and greater power capacity. These features increase the application of fuse in any vehicle. Hence, increased demand for smart cars will improve the market for electric fuses.
Global electric fuse market by electrical and electronics sector: The electrical and electronics sector includes consumer electronics. These electronic gadgets have a fuse chip installed that controls the flow of current through the device. Depending on the type of application and the size of the appliance, the number of fuse chips varies for different appliances. Hence, the global electric fuse market is largely affected by the electrical and electronics sector.
Ask an analyst to know more about this report
The top vendors operating in the global electric fuse market are:
- ABB
- Bel Fuse
- Eaton
- Littelfuse
- Mersen
The other prominent vendors in the market include AVX Corporation, Bourns, Fuji Electric, Legrand, Mitsubishi Electric, Schneider Electric, SCHURTER, and Siemens.
A more detailed analysis is available in the Technavio report titled, ‘Global Electric Fuse Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Inverter Market 2017-2021
- Global Power Rental Accessories Market 2017-2021
- Global Industrial Uninterruptible Power Supply Market 2017-2021
To read more press releases – click here
