September 22, 2023 04:38 ET | Source: Zion Market Research Zion Market Research
TOKYO, JAPAN, Sept. 22, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Electric Fuse Market By Voltage [Medium Voltage And Low Voltage], By Type [Distribution Cutouts, Power Fuse & Fuse Links, Cartridge, Plug Fuses, And Other], By End Use [Commercial, Residential, Industrial, Transportation, And Others], And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database. Drop Out Fuse Unit
“According to the latest research study, the global electric fuse market size was valued at about USD 3789.65 million in 2022. The market is expected to grow at a CAGR of 6.38% and is anticipated to reach a value of USD 6215.64 million by 2030.”
An electric fuse is an electric device that is used to protect electrical devices from short circuits and overloads by interrupting the flow of the current in the electric circuit. It is typically used for short circuit and overload protection in low voltage up to 44 kV and high voltage up to 66 kV. The fuse is a thin metal strip or a metal wire that possesses the low melting point property which is inserted into the electrical circuit.
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Global Electric Fuse Market: Growth Factors & Restraints
The global electric fuse market is growing at a rapid pace. Factors such as rapid industrialization, growing use of electric fuse for safety purposes, and increase in adoption of circuit breakers are some of the key aspects that are fostering the growth of the global market. In an electric circuit, the electric fuse is the cheapest type of protection, requires zero maintenance, operates simply without any complexity, affords current limiting effect under short circuit conditions, and also has the potential to interrupt massive short circuit current without making noise, smoke, gas, or flame. Also, the inverse time-current characteristic of the electric fuse can be used for overload protection.
Owing to this, there is a rise in the demand for electric fuse which in turn is propelling the growth of the global electric fuse market. In addition to this, an increase in residential & commercial construction projects and growing investments in circuit protection equipment are spurring the growth of the global market. Moreover, mergers & acquisitions and strategic collaborations are boosting the growth of the market. Furthermore, technological advancements for the up-gradation of features will lead to great opportunities for the growth of the global electric fuse market over the forecast period. However, the growing availability of smart devices including MCCBs and MCBs may hamper the growth of the global electric fuse market.
The global electric fuse market is segregated based on voltage, type, end-use, and region.
Based on the voltage, the global electric fuse market is bifurcated into medium voltage and low voltage. Based on type, the market is split into distribution cutouts, power fuse & fuse links, cartridge, plug fuses, and other types. The end use segment comprises commercial, residential, industrial, transportation, and others.
Browse the full “Electric Fuse Market By Voltage [Medium Voltage And Low Voltage], By Type [Distribution Cutouts, Power Fuse & Fuse Links, Cartridge, Plug Fuses, And Other], By End Use [Commercial, Residential, Industrial, Transportation, And Others], And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” Report at https://www.zionmarketresearch.com/report/electric-fuse-market
Asia Pacific is expected to hold the maximum share of the global electric fuse market. Also, the region is projected to register rapid growth of the market over the forecast period. India, China, Japan, and South Korea are expected to be the largest revenue contributor in Asia Pacific electric fuse market. Key factors that are contributing to the hefty share of the market include increasing investments in grid, primarily in developing countries such as India & China, the rising need for the electric fuse in the large commercial & residential sector, expansion of telecom industry, and increasing demand of electric fuse in the well-developed transport industry.
North America and Europe are expected to contribute significant revenue in the global electric fuse market over the forecast period. Also, demand for electric fuses is expected to increase in the Middle East region due to the rise in commercial projects.
The report contains qualitative and quantitative research on the global Electric Fuse market, as well as detailed insights and development strategies employed by the leading competitors.
Some of the main players in the global Electric Fuse market include;
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The global Electric Fuse market is segmented as follows:
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