From the early days, fuses have been used as an essential safety device and is considered as an ideal equipment from power utility companies. An electric fuse is a component utilized to protect the electrical components from high currents. A metal strip or wire melts when high current flows through it and is an essential component of an electric fuse. It is used for short circuit and overload protection in low voltage and high voltage installations. Some of the advantages of electric fuse include, lesser operation time, zero maintenance, and the ability to interfere short circuit current without producing smoke or noise.
COVID-19 Impact on Electric Fuse Market
The outbreak of COVID-19 across the globe has moderately impacted the global electric fuse market growth. The impact on the market is majorly owing to the economic contractions which has led to a halt in investments from several end-use industries. For example, the crisis created due to coronavirus pandemic is wreaking havoc on commodity demand and supply networks with each passing day. Significant decrease in prices have been witnessed across major commodities, although in some cases, prices have remained quiet.
However, the governments of many countries across the globe as well as international organizations are instrumental in investments around renewable energy sector. According to International Energy Agency (IEA), renewable energy sources values for the biggest share of investment in power generation, with investment of more than US$350 billion by 2023. These factors are likely to prosper the electric fuse market growth in the post-pandemic period.
Download PDF Brochure Of Electric Fuse Market@ https://www.researchdive.com/download-sample/3687
Electric Fuse Market Trends and Developments
The companies operating in the global industry are adopting several growth strategies and business tactics such as partnerships, collaboration, business expansion, and product launches to obtain a leading position in the global industry, which is predicted to drive the global electric fuse market growth in the upcoming years.
For instance, in In January 2019, Mersen, the global expert in electrical power advanced material, launched the electric fuse product series, ‘Class RK1 Reducer Fuses’. Ideal manufacturing facilities, the newly developed product has high-reliability performance, arc flash mitigation, and durability features to distinguish it from other fuses. The company aims to to expand its product portfolio through such innovations and developments.
In February 2021, Mersen completed the acquisition of the final 50% of Fusetech, a manufacturer of DIN LV, MV fuses, and fuses accessories, from Hager Group, its joint venture partner and took full control of the company. This acquisition will help Mersen to strengthen its manufacturing efficiency on the electric fuse market in Europe, and to integrate a high-performance site for manufacturing its future product ranges.
In June 2021, MTA, the electric mobility specialist acquired 80% share of EDN, an Italy-based leader in the design manufacturing of On-Board battery Chargers (OBCs) and power converters for electric vehicles. The product portfolio of MTA supplied to OEMs, manufacturing electric hybrid vehicles, ranges from 48V fuses and high voltage fuses and fuse holders to power distribution connectors and units.
Speak to Our Analyst Of Electric Fuse Market@ https://www.researchdive.com/connect-to-analyst/3687
Forecast Analysis of Global Electric Fuse Market
The global electric fuse market is projected to witness an exponential growth over the forecast period, owing to technological advancements and rising investments in the sector of power generation, transmission, energy generation, trade, and distribution across the globe. Conversely, environmental clearances and the government interference in implementing grid expansion projects are expected to hamper the market growth in the projected timeframe.
The increasing electric consumption, growing investments in smart cities and renewable energy sources are the significant factors and electric fuse market trends estimated to bolster the growth of the global market in the coming future. According to a latest report published by Research Dive, the global electric fuse market is expected to garner $7,848.9 million during the forecast period (2021-2028). Regionally, the Asia-Pacific market is estimated to observe fastest growth by 2028, owing to the rising per capita electricity consumption due to increased industrialization and urbanization in the region.
Key Players in the Global Electric Fuse Market
- ABB Ltd.
- Siemens AG
- Schneider Electric SE
- Fuji Electric Co., Ltd
- Eaton Corporation Plc
- Littelfuse, Inc.
- Mersen S.A
- Bel Fuse Inc.
- SCHURTER AG
- Conquer Electronics Co., Ltd.
Related Reports:-
Variable Frequency Drive Market
About Research Dive
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
Contact:
Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
+1-(917)-444-1262 (US)
Toll Free: 1-888-961-4454
E-mail: support@researchdive.com
Website: https://www.researchdive.com
Blog: https://www.researchdive.com/blog/
LinkedIn: https://www.linkedin.com/company/research-dive/
Twitter: https://twitter.com/ResearchDive
Facebook: https://www.facebook.com/Research-Dive-1385542314927521
