Knowledge Sourcing Intelligence announces the publication of a new report on “Global Electric Fuse Market - Forecasts from 2020 to 2025" to their offering.
An electric fuse is a device utilized for varied electrical circuits for household, commercial, and industrial applications. This provides protection from high current. it is useful in the prevention of home appliances against overload damage. Electric fuse types include AC and DC.
According to the report, the Global Electric Fuse Market is estimated to grow at a CAGR of 4.55% over the forecast period 2019-2025.
The electric fuse market is projected to fuel during the forecast period owing to its immense application across various end-user industry verticals as an essential component utilized in these industries
The growing industrialization, especially in the developing economies of the world, is burgeoning the market demand during the forecast period. The setting up of new automobile manufacturing units will further contribute to a surge in the market growth over the next five years. Additionally, owing to the advent of electric cars, an electric fuse finds huge applications in electric car charging stations, further augmenting the market demand in the forecast period.
Growing power demand in households is further providing an opportunity in propagating the market growth in the forecast period. The growing demand for renewable energy will further augment the market demand along with the setting up of the new facilities required for renewable energy production and distribution. Furthermore, the growing electrical and electronics industry will propel the market growth giving rise to advanced electrical products involving an electric fuse during the course of the forecast period. Moreover, the increasing adoption of consumer electronic goods at the global level will further fuel the market growth in the forecast period. The current COVID-19 pandemic will affect the market growth in 2020, due to the shutting down of manufacturing facilities.
The presence of companies offering fuse products in the form of their product launch is further propagating the market growth in the forecast period
Mersen, headquartered in Courbevoie, France, is a pioneer company designing innovative solutions for optimization of manufacturing processes in different sectors including energy, transportation, electronics, chemical, and others. The company manufactures fuse products, in accordance to the client needs. On March 2019, the company announced the launch of non-indicating Class J Time Delay Fuse series. The company’s introduction of its Class J Time Delay fuse series is offering a full range of ampere ratings between 8-600 Amperes in both indicating and non-indicating categories. The company’s new non-indicating Class J Time Delay fuse series is in compliance with the National Electrical Code® requirements for utilization in Class I Division 2 hazardous locations.
In one of its previous launches, in December 2016, the company announced the expansion of its portfolio related to electrical protection components with the introduction of DC Overcurrent Protection Solutions series for applications in electric vehicles.
The major players covered as part of the report are ABB Ltd, Schneider Electric, and Siemens AG among others.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/global-electric-fuse-market
This report has categorized the global electric fuse marketon the basis of the following segments
By End-Use Industry