The global electric fuse market is expected to grow from an estimated USD 3.5 billion in 2021 to USD 4.6 billion by 2026, at a CAGR of 5.8%. The growth of this market is driven by growing investments in renewable and energy storage, increasing investments in T&D infrastructure plans, and revival of investments in the construction sector.
The global electric fuse market is dominated by few major players that have a wide regional presence. The leading players in the electric fuse market are Schneider Electric (France), Siemens (Germany), Mersen (France), ABB (Switzerland), Eaton (Ireland), Bel Fuse Inc. (US), Littelfuse (US), Legrand (France), S&C Electric Company (US), G&W Electric Company (US), Schurter (Switzerland), and Hubbell (US).
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The major strategies adopted by the players include new product launches, investments & expansions, mergers & acquisitions, contracts & agreements, partnerships, and collaborations. New product launches was the most commonly adopted strategy from 2017 to 2021. These industry players also adopted mergers & acquisitions as one of the major strategies during that period.
Eaton is one of the leading power management companies that provides energy-efficient solutions to manage electrical, mechanical, and hydraulic power. The company operates its business through 4 business segments, namely, electrical products and electrical systems and services, hydraulics, aerospace, and vehicle. The electrical products and electrical systems and services segment includes a wide range of electrical products that include low and medium voltage power distribution and control systems, backup power, electronic components, industrial control, drives, automation & sensors, utility & grid solutions, wiring devices & connectivity, enclosures, lighting & control, and support systems. The company offers numerous products for fuses under its low voltage and medium voltage power distribution and control systems. The fuses offered by the company are under 2 brands that are Eaton’s Bussmann series and Eaton. The fuses are offered at low and medium voltages that are mainly used in circuit protection, electronic circuits, electric vehicles, and for limiting current. The company has acquired various brands such as Cooper Bussmann to strengthen its product portfolio and enhance its customer base. The electrical products and electrical systems segment is responsible for sales of its wide range of low and medium voltage products. The strong product portfolio and competitive pricing strategy for electrical products makes it a leader in the electrical fuse market. Furthermore, the company has been experiencing growth in sales from electrical products, which further determines the leading position of the company.
ABB is a multinational technology leader that serves the utilities, industries, and transport & infrastructure market. The company has primarily 4 global business divisions, namely, power grids, electrification products, industrial automation, and robotics and motion. The company offers products for the complete electrical value chain, starting from substations to consumption point. ABB provides innovative power equipment and products under its substation and electrification product category. The electrification products division offers a full range of low and medium voltage products and solutions, which fulfill the applications for circuit protection and high current sensing. The medium voltage equipment includes fuses, indoor and outdoor circuit breakers, contactors, reclosers, relays, sensors, transformers, switchgears, and others. ABB offers a wide range of electric fuses operating for voltage ranges as low as 400 V and high up to 38 kV used by utilities. ABB holds an experience of more than 130 years and has an expertise in digital technology development. The company has corporate research centers in 7 countries—China, India, Germany, Poland, Sweden, Switzerland, and the US.
Electric Fuse Market by Type (Power Fuse & Fuse Link, Distribution Cutouts, Cartridge & Plug Fuse,), Voltage (Low, Medium), End-Users (Utilities, Industrial, Residential, Commercial, Transportation), region - Global Forecast to 2026
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