$4.3 BN Electric Fuse Market - Global Forecast to 2023: Major Players are ABB, Eaton, Schneider Electric SE, Mersen, and Littelfuse
DUBLIN, Feb. 22, 2019 /PRNewswire/ -- The "Electric Fuse Market by Type (Power Fuse & Fuse Link, Distribution Cutouts, Cartridge & Plug Fuse), Voltage (Low, Medium), End-Users (Utilities, Industrial, Residential, Commercial, Transportation), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global electric fuse market is projected to reach USD 4.3 billion by 2023 from an estimated USD 3.5 billion in 2018, at a CAGR of 4.24%.
This growth can be attributed to factors such as growing investments in renewable and energy storage, increasing investments in T&D infrastructure plans, and revival of investments in the construction sector. However, increasing demand for substitutes such as MCBs, MCCBs, and protection relays and Increasing investments in smart grid vision is expected to restrict the growth of the market.
The low voltage segment is expected to be the fastest growing market from 2018 to 2023.
The low voltage fuse market is driven by rising investments in renewable energy generation & distribution and rising demand for energy storage on a large scale. Moreover, the residential and commercial sector is increasing its expenditure for the protection of electrical power systems. The type of fuses in the low voltage range are mainly miniature fuses, cartridge fuses, plug fuses, PV fuses, and link type fuses.
The utilities segment by end-users is expected to be the largest market from 2018 to 2023.
Utilities face the challenge to manage grids and provide reliable and secured power and, thus, the demand for fuses remains despite the availability of substitutes. The electric fuses that are used by the utilities are generally power fuses, backup fuses, fuse links, capacitor fuses, and dropout fuses. The utilities operate at a high voltage level at 11 kV, 22 kV, and 33 kV, thus medium voltage electric fuses are preferred. Moreover, the demand from utilities for electric fuses is frequent due to the short life span of these fuses and low replaceability cost.
Asia Pacific: The fastest growing market for electric fuse market.
The rising grid investments in 2015, especially in the developing economies, such as China and India, are expected to drive the demand for electrical equipment and circuit protection equipment in the region. According to the International Energy Agency, in Southeast Asia, the coal-based power generation grew at an average of 9.8% per year from 2000 to 2016, and coal accounts for about one-third of the electricity mix. Moreover, the distribution sector is improving in the region to improve the electrification rate in the developing nations. Similarly, the Asia Pacific industrial sector is driving the electric fuse market in the region.
The major players in the electric fuse market are ABB Ltd., Eaton Corporation (Eaton), Schneider Electric SE, Mersen, and Littelfuse, Inc.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Electric Fuse Market During the Forecast Period
4.2 Electric Fuse Market, By Region
4.3 Asia Pacific Electric Fuse Market, By Type & Country
4.4 Electric Fuse Market, By Voltage
4.5 Electric Fuse Market, By End Users
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Investments in Renewable and Energy Storage
5.2.1.2 Increasing Investments in T&D Infrastructure Plans
5.2.1.3 Revival Of Investments in Construction Sector
5.2.2 Restraints
5.2.2.1 Increasing Demand for Substitutes Such as MCBS, MCCBS, and Relays
5.2.2.2 Increasing Investments in Smart Grid Vision
5.2.3 Opportunities
5.2.3.1 Upgrading Of the Existing Substations and Feeder Line Protection
5.2.3.2 Execution Of Performance-Based Incentive Schemes and Definite Service Programs
5.2.4 Challenges
5.2.4.1 Delays in Grid Expansion Projects
6 Electric Fuse Market, By Type
6.1 Introduction
6.2 Power Fuse & Fuse Link
6.2.1 North America is the Second Largest Market for Power Fuse & Fuse Link
6.3 Distribution Cutout
6.3.1 Asia Pacific is Expected to Have the Largest Share in the Segment
6.4 Cartridge & Plug Fuse
6.4.1 Major Applications Driving Demand Of Cartridge and Plug Fuse Include Electrical Appliances and Lighting Products
6.5 Others
7 Electric Fuse Market, By Voltage Range
7.1 Introduction
7.2 Low Voltage
7.2.1 Low Voltage Fuse Market is Driven By Rising Investments in Renewable Energy Generation & Distribution and Rising Demand for Energy Storage
7.3 Medium Voltage
7.3.1 Demand is Driven By Strong Investments in Transmission and Distribution Network Along With High Replaceability Of Fuses
8 Electric Fuse Market, By End-User
8.1 Introduction
8.2 Utilities
8.2.1 Asia Pacific Dominated the Electric Fuse Market in Utilities Segment
8.3 Residential
8.3.1 Electrical Safety Norms are Increasingly Becoming Stringent for Residential Buildings to Avoid Critical Accidents is Expected to Drive Segment
8.4 Commercial
8.4.1 North America is the Second Largest Market in Commercial Segment
8.5 Industrial
8.5.1 Motors and Transformers are Major Applications Driving Demand for Electric Fuses in the Industrial Segment
8.6 Transportation
8.6.1 Demand for Electric Fuses is Driven By the High Growth and Developments in the Global Railway Industry
9 Electric Fuse Market, By Region
10 Competitive Landscape
10.1 Overview
10.2 Ranking Of Players & Industry Concentration
10.3 Competitive Scenario
10.3.1 New Product Development
10.3.2 Expansions & Investments
10.3.3 Mergers & Acquisitions
11 Company Profiles
11.1 Eaton
11.2 ABB
11.3 Schneider Electric
11.4 Siemens
11.5 Hubbell
11.6 Mersen
11.7 Legrand
11.8 Schurter
11.9 S&C Electric Company
11.10 Bel Fuse
11.11 Littlefuse
11.12 G&W
For more information about this report visit https://www.researchandmarkets.com/research/78bzjk/4_3_bn_electric?w=5
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