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(IT-NEWSWIRE.COM, August 11, 2022 ) According to a new market research report titled, “Electric and Electronic Fuses Market by Fuse Type (Power Fuse and Fuse Link, Distribution Cutouts, Cartridge and Plug Fuse), Voltage (Low, Medium), and Application (Utilities, Industrial, Residential, Commercial) - Global Forecast to 2025,” the global electric and electronic fuses market will grow at a CAGR of 6% from 2019 to reach $5.5 billion by 2025.
The factors such as pouring investment for more power generation, strong growth in the electronics industry, and revolutionary reforms in the global railway industry drives the greater demand for the electric and electronics fuses. In addition, replacement of mechanical components with advanced electronic components and growing investments in renewable energy are further supporting the growth of electric and electronics fuses market. Moreover, the on-going and proposed plans for upgrading existing electrical infrastructure and consistently increasing space programs across the globe provides significant opportunities for the vendors in this market. However, the availability of high efficiency substitute for fuse and increasing investment in smart grid restricts the growth of this market to some extent.
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The global electric and electronic fuses market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025-by type (electric and electronics), fuse type (power fuse and fuse link, distribution cutout, cartridge and plug fuse, and others), voltage (low, medium, and high), application (utilities, industrial, residential, commercial, transportation, and others), and geography. The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on type, the overall fuse market is segmented into electric fuse and electronic fuses. Electric fuse segment is estimated to command the largest share of the overall fuse market in 2019, owing to huge consumption of electric fuses in electric transmission and distribution networks, circuit and motor protection, and electronics sector. Also, factors such as increasing per capita energy consumption and growing investment in the power generation sector further supports the growth of electric fuse market. Also, increasing per capita energy consumption and growing investment in the power generation sector further supports the growth of electric fuse market.
Based on fuse type, the overall electric and electronic fuses market is segmented into power fuse and fuse link, distribution cutout, cartridge and plug fuse, and others. Power fuse and fuse links segment is estimated to command the largest share of the overall electric and electronic fuses market in 2019. This segment is also expected to witness the fastest growth during the forecast period, attributed to the increasing industrial applications of power fuse and fuse links and growing demand for medium voltage fuses in the transformers, transmission, and distribution networks as well as in the renewable energy generation and distribution.
Based on voltage range, the overall electric and electronic fuses market is segmented into low, medium, and high voltage. Medium voltage segment is estimated to hold the largest share of the overall electric and electronic fuses market in 2019, owing to growing investment in the electricity generation and development of electricity transmission & distribution networks along with the high replaceability of medium voltage fuses.
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Based on application, the global electric and electronic fuses market is segmented into utilities, industrial, residential, commercial, transportation, and others. Utilities application segment is poised to command the largest share of the overall electric and electronic fuses market in 2019, owing to increasing investments in the electricity generation, transmission, and distribution; and short life span and low replaceability cost of fuses used in utility segment.
Geographically, the global electric and electronic fuses market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. The Asia-Pacific region is estimated to command the largest share of the global electric and electronic fuses market in 2019. The major share of this region is mainly attributed to increasing per capita consumption of electricity due to growing urbanization and industrialization, construction sector, and demand for advanced electric and electronic appliances. Further, strong manufacturing base and rising investment for power generation and development of electricity infrastructure in the developing countries of the region helps to boost the growth of electric and electronic fuses market.
The report includes extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016-2019). The electric and electronic fuses market has witnessed number of new product launches, partnerships, agreements, and collaborations in the recent years. The key players operating in the global electric and electronic fuses market are Littelfuse, Inc. (U.S.), ABB Ltd. (Switzerland), Mersen S.A. (France), Schneider Electric SE (France), Bel Fuse Inc. (U.S.), Bourns Inc. (U.S.), SCHURTER AG (Switzerland), Eaton Corporation Plc (Ireland), Siemens AG (Germany), SIBA GmbH (Germany), Conquer Electronics Co., Ltd. (China), EFEN GmbH (Germany), Hollyland (China) Electronic Technology Co., Ltd. (China), Protectron Electromech Pvt Ltd. (India), Xiamen SET Electronics Co. Ltd. (China), Larsen & Toubro Limited (India), G&W Electric Company (U.S.), and Fuji Electric Co., Ltd. (Japan), among others.
Browse key industry insights spread across 155 pages with 33 market data tables & 98 figures & charts from the report: https://www.meticulousresearch.com/product/global-fuse-market-5039/
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