New York, USA, March 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global electric fuse market is expected to generate a revenue of $7,848.9 million by 2028, growing exponentially at a CAGR of 8.2% during the forecast period 2021-2028. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market such as growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
Dynamics of the Electric Fuse Market
Drivers: Significant surge in industrial activities and rising electric consumption across the globe are expected to drive the growth of the market during the forecast period. In addition, optimistic policies imposed by the government of various nations on expanding power capacity is further expected to bolster the growth of the electric fuse market during the forecast period.
Restraints: The prevalence of alternatives like miniature circuit breakers (MCBs) and molded case circuit breakers (MCCBs) are expected to impede the growth of the market.
Opportunities: Remarkable upgrades in feeder line protection and electrical substations are expected to create enormous opportunities for the growth of the global electric fuse market during the forecast period.
COVID-19 Impact on the Electric Fuse Market
The outbreak of COVID-19 has had a moderate impact on the growth of the global electric fuse market, owing to the prevalence of lockdowns in various countries across the globe. Economic contractions during lockdowns adversely halted the investment activities from a number of end-use industries. But increasing initiatives taken by the government in the renewable energy sector is expected to stimulate the growth of the electric fuse market.
Segments of the Electric Fuse Market
The report has divided the market into various segments based on voltage, end-use, and region.
Voltage: Medium Sub-segment to be Most Profitable
The medium sub-segment is expected to generate a revenue of $3,453.2 million during the forecast period. Persistent construction of transmission and distribution networks coupled with the high replaceability of these fuses is expected to accelerate the growth of the electric fuse market sub-segment during the forecast period.
End-Use: Residential Sub-segment to be Most Lucrative
The residential sub-segment is expected to garner a revenue of $3,180.5 million during the forecast period. Availability of a wide range of electrical equipment like security appliances, air conditioning facilities, attractive lightings, etc. in residential areas is expected to bolster the growth of the sub-segment during the forecast period.
Region: Asia-Pacific Region to Dominate the Electric Fuse Market
The Asia-Pacific region is expected to generate a revenue of $3,117.9 million during the forecast period. Increasing urbanization and industrialization in this region are expected to stimulate the growth of the market during the forecast period. In addition, growing investments in infrastructural development and power generation in this region is further expected to accelerate the growth of the regional electric fuse market during the forecast period.
Region: Asia-Pacific Generate and highest Revenue in the coming Forecast year & Avail 10%OFF
Key Players of the Electric Fuse Market
The major players of the market include
- Siemens AG
- ABB Ltd.
- Schneider Electric SE
- Bel Fuse Inc.
- Conquer Electronics Company Ltd.
- Fuji Electronic Co. Ltd.
- Eaton Corporation Plc
- SCHURTER AG
- Mersen S.A
- Littelfuse Inc.
- Bel Fuse Inc., and many more.
These players are working on developing strategies such as product development, merger, and acquisition, partnerships, and collaborations to sustain the market growth. - Inquire to Get access to Detailed Top Companies Development Strategy Report
For instance, in March 2021, Bel Fuse Inc., a leading supplier of products that power, protect and connect electronic circuits, acquired EOS POWER, an innovative switching power supply manufacturer in India, in order to expand its presence in the global electric fuse market.
The report also summarizes many important aspects including the financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
Related Article Links:
- Global Electric Fuse Market to Surpass $7,848.9 Million by 2028, Owing to Increasing Consumption of Electricity across the Globe
- A Sneak Peek to Electric Fuses and Some Must-Have Features
- Global Electric Fuse Market Anticipated To Generate A Revenue Of $7,848.9 Million, Growing At A CAGR Of 8.2% From 2021 To 2028
