Portland, OR, April 12, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global electric fuse market was estimated at $4.5 billion in 2021 and is estimated to reach $9.3 billion by 2031, registering a CAGR of 7.7% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2022 - 2031 |
| Base Year | 2021 |
| Market Size in 2021 | $4.5 Billion |
| Market Size in 2031 | $9.3 Billion |
| CAGR | 7.7% |
| No. of Pages in Report | 290 |
| Segments Covered | Voltage, End User, and Region |
| Drivers | Increasing electrification options for operations of various sectors |
| Opportunities | Industry key players are investing a lot of efforts into the research and development of smart and distinctive strategies |
| Restraints | Surging demand for substitutes such as MCBs, MCCBs, and relays |
COVID-19 Scenario:
- The COVID-19 pandemic had a negative impact on several industries worldwide, including the electric fuse market.
- The disruption in the supply chain, import-export restrictions, and closed borders, led to delays and shortages in the manufacture and distribution of electric fuses. Additionally, some areas experienced a decline in the demand for electric fuses as a result of the slowdown in economic activity brought on by lockdowns and restrictions.
- On the one hand, the demand for electric fuses increased due to the growing need for a reliable power supply because of remote work and internet activities. The demand for electric fuses had increased as people spent more time at home. Despite these challenges, as the global situation has began to recover now, the market for the electric fuse has a huge scope to grow at a steep rate.
The report offers a detailed segmentation of the global electric fuse market based on voltage, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on voltage, the medium segment contributed to more than two-fifths of the global electric fuse market revenue and is projected to rule the roost by 2031. However, the low segment would display the fastest CAGR of 8.6% throughout the forecast period. The high segment is also analyzed in the report.
Based on end user, the residential segment held the largest share in 2021, garnering more than two-fifths of the global electric fuse market revenue, and is projected to maintain its dominance by 2031. On the other hand, the others segment would cite the fastest CAGR of 8.5% throughout the forecast period. The commercial and industrial segments are also studied in the report.
Based on region, Asia-Pacific held the major share in 2021, contributing for nearly two-fifths of the global electric fuse market revenue and is projected to maintain its dominance in terms of revenue during the forecast period. The same region would also portray the fastest CAGR of 8.3% throughout the forecast period. The other provinces studied through the report include North America, Europe, and LAMEA.
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The prominent market players analyzed in the global electric fuse market report include Siemens AG, SCHURTER AG, Mersen S.A, Conquer Electronics Co., Ltd., ABB Ltd., Littelfuse, Inc., Bel Fuse Inc., Schneider Electric SE, Eaton Corporation Plc, and Fuji Electric Co., Ltd. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
Key Benefits For Stakeholders:
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the electric fuse market analysis from 2021 to 2031 to identify the prevailing electric fuse market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the electric fuse market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global electric fuse market trends, key players, market segments, application areas, and market growth strategies.
Electric Fuse Market Key Segments:
By Voltage:
- Low
- Medium
- High
By End User:
- Residential
- Commerical
- Industrial
- Others
By Region:
- North America (U.S., Canada, and Mexico)
- Europe (U.K., Germany, France, Italy, Spain, Russia, Netherlands, Belgium, Poland, and Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Malaysia, Thailand, Philippines, Indonesia, and Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East and Africa)
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