Pune India, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Automotive Fuse Market Size By Fuse Type (Glass Tube, Blade Fuse, Semiconductor, and Others), By Voltage (12V-24V, 24V-48V, 49V-150V and Others), By Application (PCU Fuse, Battery Fuse, Onboard Charger Fuse, Charge Inlet Fuse and Others), Regions, Segmentation, and forecast till 2030.
The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the automotive fuse market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the automotive fuse market are present across various countries in the above-mentioned regions.
Get The Free Sample Report Within 30 Minutes @ https://greyviews.com/reports/automotive-fuse-market/556/request-sample
The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as fuse type, voltage, application, and regions. The key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the paragraphs below.
The significant players operating in the global Automotive Fuse Market are Pacific Engineering Corporation, Mersen Electrical Power, Fuzetec Technology Co. Ltd., SIBA, Lawson Fuses India Ltd., ABB, DF Electric, Okino, Siemens, Weber South Pacific among others. To achieve a substantial market share in the worldwide automotive fuse market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Fuses are electrical safety devices that prevent the overloading of electrical and electronic equipment connected to a circuit. Basically, when there is an overload or excess of current, the fuse blocks or breaks the current flow by melting a metal strip or wire inside it. Of all the electrical components in a car, fuse units are the most frequently used and required. This can be attributed to the rise in demand for high-tech cars, which are being produced in large numbers by automobile manufacturers to satisfy increasing consumer demand. There are some factors which are hampering the growth of the market such as lack of skilled professionals and unorganized aftermarkets. For the growth of the market, a lack of skilled labour and technicians will pose the greatest challenge. In the forecasted period, increasing features in cars are likely to limit the growth of the automotive fuse block due to the increasing pressure and load on the block's working. The demands of families with high disposable income have changed in line with their new lifestyles, which has led to changes in their preferences. The sales of premium passenger vehicles are booming around the globe because factors such as increased per capita income and increased competition between manufacturers are boosting market growth.
Scope of Automotive Fuse Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Billion |
| Segments Covered | Fuse Type, Voltage, Application, and Regions. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Pacific Engineering Corporation, Mersen Electrical Power, Fuzetec Technology Co. Ltd., SIBA, Lawson Fuses India Ltd., ABB, DF Electric, Okino, Siemens, Weber South Pacific among others |
Enquiry Before Buying This Report @ https://greyviews.com/inquiry/556
Segmentation Analysis
Blade fuse is expected to be the fastest-growing segment in 2022.
The fuse type segment includes glass tube, blade fuse, semiconductor, and others. The blade fuse segment is expected to witness the highest growth rate during the forecast period. Its primary function is to break the circuit when the current exceeds the desired value, preventing possible damage from equipment failure and short circuits. A blade fuse protects your vehicle's electrical components and devices. A common use is in equipment with comparatively low voltage DC electrical systems, such as towed campers and marine applications, like sailboats and motor boats.
24V-48V is expected to be the fastest-growing segment in 2022.
The voltage segment includes 12V-24V, 24V-48V, 49V-150V and others. The 24V-48V segment is expected to witness the highest growth rate during the forecasted period. It is expected that the segment with 24-48V will witness the highest CAGR in the forecast period, due to their low emissions and the growing popularity of ICE vehicles equipped with 12 & 24V system architecture, both of which are accelerating the demand for this segment.
Charge inlet fuse is expected to be the fastest-growing segment in 2022.
The application segment includes PCU fuse, battery fuse, onboard charger fuse, charge inlet fuse and others. The charge inlet fuse segment is expected to witness the highest growth rate during the forecasted period. Growing demand for high-power electric vehicles in Asia Oceania and Europe is fueling the demand for charge inlet fuses. This segment holds the largest market share during the forecast period.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the automotive fuse market include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. With the highest numbers of passenger cars, LCVs, and HCVs sold in the region, the US leads the automotive fuse market. It also leads the automotive fuse market for electric vehicles, corresponding to the highest sales of electric vehicles in North America. There is a large customer base and a high disposable income in this area, resulting in an increase in automotive OEM manufacturing.
Country Analysis
- Germany
Germany's automotive fuse market size was valued at USD 1.8 billion in 2022 and is expected to reach USD 2.14 billion by 2030, at a CAGR of 2.2% from 2023 to 2030.
Governments around the world are transitioning from internal combustion and hybrid automobiles to all-electric vehicles, which has an impact on power system operations. In the future, this will lead to a plethora of opportunities to reduce pollution and reliance on fossil fuels and enhance the efficiency of the system.
- China
China’s automotive fuse market size was valued at USD 2 billion in 2022 and is expected to reach USD 2.4 billion by 2030, at a CAGR of 2.5% from 2023 to 2030.
In the forecast period, the demand for automotive fuse will increase due to the significantly growing electric vehicle market, along with the integration of fuses in operational models. As part of their plans to accelerate the transition to an all-electric future, several major automakers intend to create new product lines and convert existing manufacturing capacity.
- India
India's automotive fuse market size was valued at USD 1.54 billion in 2022 and is expected to reach USD 1.86 billion by 2030, at a CAGR of 2.4% from 2023 to 2030.
Automotive part manufacturers in countries like India have developed improved systems in response to the rising demand for automobiles, which in turn is driving the demand for efficient automotive parts and, thus, fueling the automotive fuse market globally. As well as advances in technology to ensure soldering, fully insulated clips, and nickel-plated brass contacts that ensure vibration resistance.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the rising demand for premium passenger vehicles.
Buy Now Full Report @ https://greyviews.com/checkout/556/single_user_license
Contact Us
Rocky Shah
GreyViews
Pune India
Phone: (+44) 162-237-1047
Email: sales@greyviews.com
