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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Automotive Fuse Market Outlook
The global automotive fuse market reached a value of USD 20.84 billion in 2023. The industry is further expected to grow at a CAGR of 5.8% in the forecast period of 2024-2032 to reach a value of USD 34.64 billion by 2032.
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The Asia Pacific to be a Major Market for the Automotive Fuse Industry
The global automotive fuse industry is significantly being aided by the rising demand from the Asia Pacific region. The market in the region is witnessing a rapid growth owing to the increased demand for automobile comfort and protection, government safety rules and regulations, as well as high vehicle sales in the region. The rising demand for electric vehicles is expected to fuel the growth of the global automotive fuse industry in countries such as Japan and China. The availability of cheap labour in the region has also boosted the production of automotive fuse, further catalysing the market growth. The increasing adoption of the technology in the Asia Pacific region is also significantly driving the market growth.
Automotive Fuse: Market Segmentation
Automotive fuses are used mainly for safety from moving power streams of electric wires, modules, circuits, and switches in automobiles. Automotive fuse manufacturers are now concentrating on producing a wide variety of goods and revolutionary fuses for automobiles.
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The fuse types in the market can be segmented as follows:
- Blade
- Limiter
- Glass Tube
- Semiconductor
- Others
Based on voltage, the industry can be divided into:
- 2 and 24 V
- 24–48 V
- 49–150 V
- 151–300v
- >300 V
The motor output of automotive fuse can be divided as follows:
- <80kW
- 80-200kW
- >200kW
The distribution channels in the market can be divided into OEM and aftermarket. Automotive fuse finds wide applications in the following segments:
- Auxiliary
- Engine
- Charge Inlet
- Battery
- PCU
- Onboard
- Traction Motor
- Others
The end-use of the products can be categorised as follows:
- Electric Engine
- Battery Electric Vehicle (BEV)
- Hybrid Electric Vehicle (HEV)
- Plug-In Hybrid Electric Vehicle (PHEV)
- Internal Combustion Engine
- PC
- LCV
- HCV
- Mild Hybrid Vehicle
- Others
The regional markets for automotive fuse can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Automobile Industry Bolstering the Market Growth of Automotive Fuse
The rising commercial vehicle sales triggered by the rising GDP, rising urbanisation and infrastructure development is a major factor driving the growth in the automotive industry. The rising automotive industry is further aiding the growth of the automotive fuse industry. Higher demand for cars has led car components manufacturers to build improved systems in countries like South Korea, Japan, China, and India. This is driving the demand for effective automotive components and, thus, stimulates the growth of the automotive fuse industry. Technological advancements in soldering, development of fully isolated clips, use of tin and nickel-plated metal contacts to ensure vibration and shock resistance have led to the development of advanced automotive fuse, thereby boosting the growth of the automotive fuse industry. Another factor that supports the demand for effective automotive fuse is the increased use of high-energy fuses.
Key Industry Players in the Global Automotive Fuse Market
The report gives a detailed analysis of the following key players in the global automotive fuse market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Eaton Corporation Inc.
- Littelfuse, Inc.
- Mersen Electrical Power
- SCHURTER Holding AG
- Fuzetec Technology Co., Ltd.
- Pacific Engineering Corporation
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Fuse Type |
|
| Breakup by Voltage |
|
| Breakup by Motor Output |
|
| Breakup by Distribution Channel |
|
| Breakup by Application |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market size attained a value of approximately USD 20.84 billion.
The market is projected to grow at a CAGR of 5.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 34.64 billion by 2032.
The growth of the market is being driven by factors like rapidly rising population, growing automobile industry due to rising GDP, increasing urbanisation, and infrastructure development, growing demand for electric vehicles, and favourable government regulations.
Technological developments in soldering, development of fully isolated clips, the use of tin and nickel-plated metal contacts to ensure vibration, and shock resistance are the key trends for the market growth.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The leading fuse types in the market are blade, limiter, glass tube, and semiconductor, among others.
The major voltage types of automotive fuse in the market are 2 and 24 V, 24–48 V, 49–150 V, 151–300v, and >300 V.
The significant types of motor outputs of automotive fuse in the market are <80kW, 80-200kW, and >200kW.
The leading distribution channels in the market are OEM and aftermarket.
The major applications in the market are auxiliary, engine, charge inlet, battery, PCU, onboard, and traction motor, among others.
The significant end uses in the market are electric engine and internal combustion engine.
The key players in the global automotive fuse market are Eaton Corporation Inc., Littelfuse, Inc., Mersen Electrical Power, SCHURTER Holding AG, Fuzetec Technology Co., Ltd., and Pacific Engineering Corporation, among others.
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