The global electric fuse market is projected to reach $4.3 billion by 2023 from an estimated $3.5 billion in 2018, at a CAGR of 4.24%. This growth can be attributed to growing investments in renewable and energy storage, increasing investments in T&D infrastructure plans, and revival of investments in construction sector.

The Asia Pacific region is estimated to be the largest and the fastest growing electric fuse market during the forecast period. The region has been segmented, by country, into China, Japan, India, Malaysia, Australia, Vietnam, South Korea, and Indonesia. The growth of this region is primarily driven by countries such as China, India and Japan which are among the top 5 economies in the world. The electric fuse market in the region is mainly driven by growing power demand and renewable energy generation targets.

For instance, China and India are already among the top countries for renewable energy generation and China has plans to integrate at least 35 percent of electricity consumption by 2030 through renewable energy. On the other hand, India has plans to generate 100 GW of solar power by 2022 with an aim to reduce its dependency of fossil fuels and meet increasing the urban energy demand.

The electric fuse market, by type, is segmented into power fuse and fuse link, distribution cutout, cartridge & plug fuse, and others. Distribution cutouts segment are expected to grow at fastest rate during the forecast period. The distribution cutouts are medium voltage fuses with voltage ranges starting from 8 kV up to 38 kV and above. These fuses are specially designed to protect overhead distribution networks and for harsh climatic conditions.

The companies offering distribution cutout are ABB, Eaton Cooper, Hubbell, and S&C Electric Company. The distribution cutout is majorly applied in transformers, capacitors, and also for protecting cables and wires. These fuse cutouts are ideal for outdoor distribution and, thus, these are demanded by the electric utilities, with the average cost being little higher than other fuses.

12v Solar Street Light Battery

The electric fuse, by voltage, is segmented into low voltage and medium voltage. Low voltage segment is expected to grow at fastest rate during the forecast period. The growth is attributed to 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 report segments the electric fuse market, by end-use, into Residential, Commercial, Industrial, utilities, and transportation. The utilities segment is expected to largest and fastest growing for electric fuse market globally. 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.

Intelligent Terminal, Vacuum Circuit Breaker, Load Switch, Isolation Switch - Tenpro,