Market Leader - Automotive Fuse Market
The automotive fuse market, by value, is projected to grow at a CAGR of 2.0% from 2022 to 2027, to reach USD 28.4 billion by 2027 from USD 25.7 billion in 2022. The OEMs are focusing on advancements in the vehicle safety and comfort features in the mid-segment vehicle to differentiate from the competitors. The Asia Pacific market is projected to witness significant growth in automotive fuse market during the forecast period. The market growth in the region can also be attributed to the presence of several Tier 1 suppliers and the largest passenger vehicle production and highest EV sales region which is the core market for the automotive fuse.
The automotive fuse manufacturers have adopted the strategies of new product development and geographical expansion to gain traction in the automotive fuse market. While new product development helps a company to have a technological advantage, expansion helps to formulate a better business strategy as it enables a strong global footprint. For example, in 2021, Eaton introduced the EVK Series, a new line of Bussmann series fuses. The new line of high-voltage fuses meets the requirements for use in the latest high-powered electrified vehicles (EVs) with ratings up to 1,000 volts of direct current (VDC) and 600 amps.
Based on factors such as revenue generation, segmental revenue, regional footprint, and organic and inorganic strategies, the study estimates that - Eaton (Ireland), Schurter Group (Switzerland), Littelfuse (US), Sensata (US) Mersen (France) are top players in the automotive fuse market.
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Eaton operates in five business segments, namely electrical, hydraulics, aerospace, eMobility, and vehicles. Eaton offers automotive fuse products through its electrical products segment. These fuses improve the safety of electrical circuits in automobiles. Eaton also offers battery terminal fuses, automotive blade fuses, multi slow blow fuses, and others to prevent automotive circuits and components from overcurrent and improve the efficiency of automobiles. Eaton has a regional presence in the US, Canada, Latin America, Europe, and Asia Pacific. The US is the largest market for the company.
Littelfuse operates in three major segments, namely electronics, transportation, and industrial. The transportation segment is further classified into electrification of vehicles, sensors, and power distribution module in commercial vehicles. The company provides automotive fuses under the electrification of vehicles segment. Since the invention of first automotive fuse, Littelfuse has partnered with automakers on circuit protection solutions to offer a wide variety of high-quality automotive fuses. The company offers blade fuses, cartridge fuses, Auto Link PAL 283 Series Fuse, and EV1K Series fuses for automobiles.
Sensata is one of the prime leaders in product offerings for safety, energy efficiency, and clean environment. The company operates in two business segments, namely performance sensing and sensing solution. It offers automotive fuses through its sensing solution segment. It also offers automotive circuit breakers for automotive applications, bimetal electromechanical controls, industrial and aerospace sensors, power conversion and control, thermal and magnetic-hydraulic circuit breakers, and interconnection.
Mersen serves through two segments, namely electrical specialties and advance materials. Under its electrical specialties segment, the company offers fuses, EV fuses, and bus bars. The company’s product portfolio has a diversified range, from traditional automotive blade fuses to advanced high voltage electric vehicle fuses. As of 2021, the company has 50 industrial sites and 18 research and development centres in 35 countries. In the same year, its total employee strength was 6,968. Mersen has a diversified customer base. It provides products and services to global Tier-1 companies, such as ABB, Safran, Schneider, Siemens, Mitsubishi, and Alstom.
Schurter Group is engaged in the manufacturing and sales of automobile parts and electronic safety related components. Schurter Group manufacturers and distributes components for circuit protection and fuses, switches, connectors, and EMC products. The company offers components for medical equipment, industrial equipment, automotive, data and communication and energy. The company’s automotive fuse protects electric and electronic equipment against the overcurrent.
Related Reports:
Automotive Fuse Market by Fuse Type (Blade, Glass Tube, Semiconductor, Limiter, Slow Blow/Multi Slow Blow Fuses), Electric Vehicle Application, Voltage, Amperage, ICE Vehicle Type, EV Type, Aftermarket and Region - Global Forecast to 2027
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
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