Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Automotive Fuse Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The report meticulously analyzes the market size, growth rate, and trends, providing stakeholders with valuable data for strategic planning.
Global Automotive Fuse Market to Witness Notable Expansion
The automotive fuse market has demonstrated significant growth, expected to rise from USD 18.32 billion in 2023 to USD 19.32 billion in 2024, boasting a Compound Annual Growth Rate (CAGR) of 5.4%. This surge is attributed to the increasing vehicle production, burgeoning safety regulations, and expansion in the electric vehicle market alongside burgeoning urbanization rates.
Anticipated Sector Advancements up to 2028
Prospects remain optimistic for the automotive fuse market, with forecasts predicting growth to USD 23.73 billion by 2028, advancing at a steady CAGR of 5.3%. Emerging trends like miniaturization, adoption of smart fuses, integration of Advanced Driver Assistance Systems (ADAS), and a focus on industry partnerships are expected to catalyze market expansion.
Tailwinds for the Automotive Fuse Market
- Increased demand for electronic components in vehicles, driven by the rise in sophisticated automotive technologies.
- Upswing in global vehicle production, bolstering the need for dependable automotive fuses.
- Opportunities arising from advancements in the quality and capabilities of fully insulated chips used in automotive fuses.
Major market operators are consistently innovating, as evidenced by recent product launches such as the 828 Series of High Voltage Cartridge Fuses, aimed at providing efficient overcurrent protection in compact automotive environments. Strategic acquisitions are also shaping the industry, with spectacular moves such as the acquisition of a premier fuse manufacturer known for its heightened production capabilities.
Asia-Pacific Leads in Automotive Fuse Adoption
Dominating the global landscape in 2023, the Asia-Pacific region is anticipated to remain at the forefront of growth during the forecast period. Through comprehensive analysis, this market research report covers various geographic regions, detailing the performance and prospects within each area.
The report constitutes an in-depth evaluation of the automotive fuse market, essential for businesses and investors aiming to understand the factors driving the industry forward. It presents a detailed segmentation by type, application, voltage rating, and distribution channel, among other facets.
This fascinating review is vital for industry stakeholders, financial institutions, policy makers, and researchers keen on obtaining an enriched understanding of the automotive fuse market's trajectory and potential.
A selection of companies mentioned in this report includes
- Eaton Corporation
- Littelfuse Inc.
- Mersen S.A.
- SCHURTER Inc.
- SIBA
- Sensata Technologies
- Carling Technologies Inc.
- Mouser Electronics Inc.
- OptiFuse
- Anodyne Electronics Manufacturing Corp.
- Blue Sea Systems
- GLOSO TECH Inc.
- ON Semiconductor
- Fuzetec Technology Co. Ltd.
- Pacific Engineering Corporation
- Dongguan Better Electronics Tech. Co. Ltd
- Anixter
- NTE Electronics Inc.
- AEM Components (USA) Inc.
- E-T-A Elektrotechnische Geräte GmbH
- Bel Fuse Inc.
- S&C Electric Company
- G&W Electric Company
- Mersen S.A.
- TE Connectivity Ltd.
- Bourns Inc.
- Cooper Bussmann
- Keystone Electronics Corp.
- Phoenix Contact
- Siemens Aktiengesellschaft
- Vishay Intertechnology Inc.
- Weidmüller Interface GmbH & Co. KG
- Würth Elektronik GmbH & Co. KG
For more information about this report visit https://www.researchandmarkets.com/r/xoyi76
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
