Electric fuses are crucial components in electrical circuits, safeguarding equipment against overcurrent and preventing potential hazards such as fires. In this blog post, we will delve into the latest statistics and trends shaping the electric fuse industry. From market size and growth projections to key players and technological advancements, we will analyze the current landscape of the electric fuse sector and explore what the future holds for this essential industry.
The Latest Electric Fuse Industry Statistics Explained
The electric fuse market size was valued at USD 3.19 Billion in 2020.
The statistic that the electric fuse market size was valued at USD 3.19 billion in 2020 indicates the total value of the market for electric fuses during that year. This figure represents the combined revenues generated by all companies selling electric fuses in 2020. The market size is a key indicator of the industry’s scale and importance in the economy, showcasing the demand for electric fuses within various sectors such as electronics, automotive, and industrial applications. Analyzing market size trends over time can provide insights into the growth or contraction of the industry, affecting investment decisions, strategic planning, and overall economic health.
The electric fuse industry is projected to reach USD 5.18 Billion by 2028.
The statistic “The electric fuse industry is projected to reach USD 5.18 Billion by 2028” indicates that the total market value of the electric fuse industry is expected to grow to USD 5.18 billion by the year 2028. This projection suggests a significant increase in the industry’s revenue over the coming years, likely driven by factors such as technological advancements, increasing demand for electronic devices, and growing industrial sectors requiring electrical protection. This anticipated growth could present new opportunities for businesses within the electric fuse industry and reflect a positive outlook for the market’s expansion in the near future.
The global electric fuse market is expected to grow at a CAGR of 5.8% from 2021 to 2028.
This statistic indicates the Compound Annual Growth Rate (CAGR) projected for the global electric fuse market between the years 2021 and 2028. A CAGR of 5.8% suggests that the market is expected to experience a steady annual growth rate over the specified period. This growth rate signifies an increasing demand for electric fuses globally, potentially driven by factors such as technological advancements, expanding industrial sectors, and growing infrastructure development. The forecasted growth provides valuable insights for businesses operating in the electric fuse industry, enabling them to anticipate market trends, plan investments, and capitalize on emerging opportunities for strategic business expansion.
In 2019, the power fuse and holders segment dominated the electric fuse market.
The statistic “In 2019, the power fuse and holders segment dominated the electric fuse market” indicates that within the electric fuse market during that year, the segment related to power fuses and holders had the highest market share in terms of sales or revenue. This suggests that these particular types of fuses and holders were in high demand and were the preferred choice for users and industry stakeholders. This dominance could be attributed to various factors such as technological advancements, quality, reliability, cost-effectiveness, and market trends that favored the power fuse and holders segment over other segments within the electric fuse market in 2019.
Asia-Pacific region is expected to remain dominant in terms of revenue in the electric fuse industry from 2020 to 2027.
The statistic indicates that the Asia-Pacific region is projected to maintain a leading position in terms of generating revenue within the electric fuse industry from 2020 to 2027. This suggests that the countries within the Asia-Pacific region are expected to continue dominating the market in terms of sales and revenue generation for electric fuses during this time period. Factors contributing to this dominance may include rapid industrialization, increasing infrastructural development, and a growing demand for electricity within the region. This trend highlights the significance of the Asia-Pacific market within the electric fuse industry and the potential for continued growth and opportunities in the coming years.
The major electric fuse market players include Schneider Electric, Siemens AG, Eaton Corporation PLC.
The statistic that the major electric fuse market players include Schneider Electric, Siemens AG, and Eaton Corporation PLC highlights the dominant players in the electric fuse industry. These companies are significant players in the market and are recognized for their expertise, innovation, and market presence in providing electric fuses. As key players, they are likely to have a substantial market share, influence pricing and product offerings, and set industry trends. Their presence in the market indicates their competitive advantage and positions them as important entities shaping the electric fuse market landscape through their products and services.
By 2027, the automotive industry is expected to hold a substantial market share of the electric fuse industry.
The statistic implies that the automotive industry’s presence in the electric fuse industry is projected to increase significantly by the year 2027. This suggests that automotive companies are expected to play a significant role in the production, distribution, or utilization of electric fuses within the mentioned timeframe. The forecast indicates that the automotive sector will likely bolster its position and influence in the electric fuse market in the coming years, potentially becoming a dominant force or driving factor in this particular segment of the industry. This projection may be driven by various factors such as advancements in automotive technology, increasing demand for electric vehicles, or strategic partnerships between automotive and electronics manufacturers that pave the way for expanded market share within the electric fuse industry.
In 2019, electric utility dominated the electric fuse application segment with 50% market share.
The statistic “In 2019, electric utility dominated the electric fuse application segment with 50% market share” indicates that among all the different industries or applications that use electric fuses, the electric utility sector held the largest share of the market in 2019, comprising half of the total market. This implies that electric utilities, which are companies involved in generating, transmitting, and distributing electricity to end-users, had a significant presence and influence in the electric fuse market that year. This statistic suggests that electric utilities were the primary consumers of electric fuses in 2019 compared to other industries or applications.
The industrial sector forms the largest application for the electric fuse market.
The statistic stating that the industrial sector forms the largest application for the electric fuse market indicates that the industrial sector accounts for the highest proportion of demand and usage of electric fuses compared to other sectors such as residential or commercial. This suggests that industries involved in manufacturing, processing, and production activities have a greater need for electric fuses to protect electrical circuits from overloading or short circuits. The reliance of the industrial sector on electric fuses may be attributed to the higher power requirements and potential risks associated with machinery and equipment used in industrial settings, necessitating the use of fuses for safety and protection purposes. Understanding this statistic is crucial for electric fuse manufacturers to tailor their products and marketing strategies towards the specific needs and demands of the industrial sector.
The renewable power generation segment is forecasted to witness significant demand for electric fuses during 2021-2028.
The statistic suggests that there is an anticipated increase in the demand for electric fuses within the renewable power generation sector between 2021 and 2028. This expected rise in demand could be attributed to the ongoing shift towards renewable energy sources such as wind, solar, and hydro power. As renewable energy becomes more prominent in the global energy mix, there will likely be a greater need for electric fuses to protect systems and equipment from electrical faults and overloads. This forecast indicates a positive outlook for the electric fuse market within the renewable power generation industry in the coming years.
North America is expected to grow at a significant CAGR during the forecast period, due to a surge in renewable power generation projects.
The statistic indicates that North America is projected to experience a notable Compound Annual Growth Rate (CAGR) in the foreseeable future, driven by a substantial increase in renewable power generation initiatives. This suggests that the region is expected to witness a substantial growth in the production and utilization of renewable energy sources like wind, solar, and hydroelectric power. The surge in renewable power projects signifies a shift towards cleaner and more sustainable energy sources in North America, likely due to factors such as increasing environmental awareness, supportive government policies, and advancements in renewable energy technologies. This growth trajectory highlights the region’s commitment to reducing carbon emissions, promoting energy independence, and fostering a more sustainable energy future.
AC Fuse segment is witnessing high adoption due to its inherent advantages such as interrupting short circuits & overloads, and disconnecting electric circuits and appliances.
The statistic suggests that the AC Fuse segment is experiencing an increase in usage primarily because of its inherent benefits, which include the ability to effectively handle short circuits and overloads. AC fuses play a crucial role in interrupting excessive current flow that could result in overheating or electrical fires, thereby providing a crucial safety feature for electrical circuits and appliances. Additionally, AC fuses enable the disconnection of electric circuits and appliances when needed, ensuring that electrical systems can be easily and quickly turned off for maintenance, troubleshooting, or safety reasons. Overall, the high adoption of AC fuses is likely driven by the critical functions they serve in maintaining electrical safety and reliability.
Low-voltage fuses held more than 60% revenue share in the global electric fuse market in 2019.
The statistic indicates that low-voltage fuses accounted for over 60% of the total revenue generated in the global electric fuse market in 2019. This signifies the significant dominance of low-voltage fuses in the market compared to other types of electric fuses. The high revenue share of low-voltage fuses points to their widespread use and popularity in various applications and industries. This data suggests that low-voltage fuses are a key player in the electric fuse market and hold a strong position in terms of market share and revenue contribution.
Europe’s electric fuse market is predicted to grow over 4% by 2025.
The statistic that Europe’s electric fuse market is predicted to grow over 4% by 2025 indicates an anticipated increase in the market size and demand for electric fuses in Europe over the next few years. This growth projection suggests that there will be a rising need for electric fuses in various industries and applications, possibly driven by factors such as increasing industrial automation, infrastructure development, and technological advancements. The expansion of the electric fuse market by more than 4% signifies a positive trend in the industry, with opportunities for businesses operating in this sector to capitalize on the growing market demand and potentially achieve higher profitability and market share.
The cartridge & plug fuse is anticipated to hold a significant market, exhibiting a CAGR of over 4% till 2025.
This statistic indicates that the cartridge and plug fuse market is expected to experience substantial growth over the coming years, with a Compound Annual Growth Rate (CAGR) exceeding 4% until the year 2025. This suggests that there is strong anticipated demand for these types of fuses, likely driven by factors such as increasing industrialization, infrastructure development, and growing investments in electrical systems. The projected CAGR indicates a steady and sustained rise in market size and consumer interest in cartridge and plug fuses, making them a key sector to watch for potential opportunities and developments in the coming years.
The electronics industry is expected to hold sizeable electric fuse market share, growing at a CAGR of 6.43%.
This statistic indicates that the electronics industry is projected to capture a significant portion of the electric fuse market, with a forecasted Compound Annual Growth Rate (CAGR) of 6.43%. This implies that the demand for electric fuses within the electronics sector is anticipated to increase steadily over a period of time. The CAGR metric reflects the average annual growth rate of the market size, highlighting a positive trend for the electronics industry in terms of its share within the electric fuse market. This suggests potential opportunities and a promising outlook for companies operating in the electronics sector, as they are likely to benefit from the expanding market for electric fuses in their industry.
Fuses for transformer protection are projected to grow at a CAGR of 7.54% from 2021 to 2026.
The statistic suggests that the demand for fuses used in transformer protection is expected to increase steadily over the period from 2021 to 2026, with a Compound Annual Growth Rate (CAGR) of 7.54%. This growth rate indicates the annualized rate at which the market for these fuses is projected to expand over the specified time frame. A CAGR of 7.54% implies a relatively healthy growth trend, signaling potential opportunities for manufacturers and suppliers in this sector. Factors such as increasing investments in energy infrastructure, adoption of smart grids, and advancements in transformer technology may be driving this growth in demand for transformer protection fuses.
Consumer electronics is expected to emerge as the fastest-growing application segment over the forecast period.
This statistic suggests that within the given forecast period, consumer electronics are projected to experience the highest rate of growth compared to other application segments. This indicates that the demand for consumer electronics products is anticipated to increase at a faster pace than other industries or sectors. Factors such as technological advancements, changing consumer preferences, and increasing disposable incomes may contribute to this anticipated growth. As a result, companies operating in the consumer electronics sector may have significant opportunities for expansion and profit generation during the forecast period.
By 2025, the medium voltage range electric fuse segment is expected to reach over USD 850 million.
The statistic “By 2025, the medium voltage range electric fuse segment is expected to reach over USD 850 million” suggests that the market for medium voltage range electric fuses is anticipated to experience significant growth over the next few years. This growth is estimated to culminate in a market value exceeding USD 850 million by the year 2025. This projection indicates a strong demand for medium voltage electrical fuses within the industry, likely driven by factors such as increasing investments in infrastructure development, technological advancements, and a growing emphasis on electrical safety and reliability. Overall, the statistic implies opportunities for businesses operating in the electric fuse segment to capitalize on this expanding market and potentially achieve substantial revenues.
China leads the global electric fuses market, accounting for over 40% market share in 2020.
China’s dominance in the global electric fuses market in 2020 is highlighted by its impressive market share of over 40%. This statistic suggests that China is a major player in the electric fuses industry, outpacing competitors and capturing a significant portion of the market. The high market share indicates that Chinese companies are likely producing a large volume of electric fuses and potentially leading in terms of innovation, cost-effectiveness, or distribution channels. This information underscores the influential role that China plays in shaping the dynamics of the electric fuses market on a global scale.
Conclusion
The statistics presented in the electric fuse industry reveal a promising future characterized by steady growth and significant market demand. With the increasing adoption of renewable energy sources and the expanding industrial and construction sectors, the demand for electric fuses is projected to rise. Companies in the electric fuse industry should capitalize on these opportunities by investing in research and development, innovation, and strategic partnerships to stay ahead in this competitive market landscape.
References
0. – https://www.www.mordorintelligence.com
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2. – https://www.www.marketsandmarkets.com
3. – https://www.www.gminsights.com
4. – https://www.www.alliedmarketresearch.com
5. – https://www.www.fortunebusinessinsights.com
6. – https://www.www.researchandmarkets.com
