Global Fuse Electrical Market Competitive Landscape, Growth Factors, Revenue Analysis by 2028

The global fuse electrical market is expected to grow at a CAGR of 3.5% during the forecast period (2022-2028). A fuse is an electrical safety device that prevents overloading of electrical and electronic equipment connected to a circuit. When the current is overloaded, it effectively blocks or interrupts the flow of current by melting a metal strip or metal wire within the fuse. The expansion of the construction and residential industries, the need to extend the lifespan of electrical equipment, and the increased flow of electronic devices for the construction of smart cities are the major factors driving market growth. Furthermore, rising investments in renewable and energy storage and increased power supply to rural areas is expected to boost the market growth. In addition, investments in electric infrastructure are increasing, as the electrification of the automotive industry.

Furthermore, surge in the adoption rate of automotive electronics, as well as advancements associated with existing substations and feeder line protection, is expected to create favourable opportunity for the market growth. However, fluctuations in raw material prices and increase in demand for alternatives such as miniature circuit breakers (MCBs), Molded case circuit breaker (MCCBs), and relays acts as a restraint for the growth of the market. Disruption in the supply chain owing to the COVID-19 lockdown restrictions and delays in grid expansion projects had negatively impacted the market growth. Asia-Pacific fuse electrical market is expected to witness potential growth during the forecast period owing to the increase in electrification projects and rising industrialization and urbanisation in emerging economies. Middle East and Africa fuse electrical market is driven by the increased investments in rural electric infrastructure.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Type
  • By Application
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape- ABB Ltd., Eaton Corp., and Schneider Electric Co., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Fuse Electrical Market Report by Segment

By Type

• High-Voltage Fuses
• Medium-Voltage Fuses
• Low-Voltage Fuses

By Application

• Power
• Automotive
• Electrical and Electronics
• Industrial