The automotive fuse market is expected to grow at a CAGR of 5.5% from 2018 to 2023. Fuses are used in automobiles to protect the electrical system from overloads and short circuits. The growth of the automotive fuse market can be attributed to the increasing demand for electric vehicles and the growing need for safety in automobiles.
The Asia Pacific region is projected to lead the automotive fuse market during the forecast period. The growth of the automotive fuse market in this region can be attributed to the rising demand for electric vehicles and the growing awareness about safety features in automobiles.
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A class of fuses, which is used to protect electrical equipment and wiring for vehicles is known as automotive fuse. Automotive fuse is generally rated or used for circuits that have direct current higher than 24 volts except in certain cases it is rated for electrical systems with 42-volt. There are five different types of automotive fuses namely blade, bosch, limiter, lucas and glass tube. Blade type automotive fuses are used for different ampere ratings ranging from two ampere, three ampere, four ampere, five ampere to 120 ampere. Also, there is a colour coding used for blade fuses, which is classified according to different ampere ratings. For instance, for one ampere black colour is denoted, similarly for 35 ampere bluegreen colour is denoted and for 120 ampere purple colour is denoted.
Key Companies-
- Eaton Corporation Inc.
- Littelfuse, Inc.
- MERSEN S.A.
- SCHURTER Inc.
- SIBA
- Sensata Technologies, Inc.
- Carling Technologies Inc.
- Mouser Electronics, Inc.
- OptiFuse
- Panduit Corp
- AEM, Inc.
- Blue Sea Systems
- GLOSO TECH Inc.
- Anixter Inc.
- Dongguan Better Electronics Technology Co. Ltd.
- NTE Electronics, Inc.
among others. Automotive Fuse manufacturers are focused on developing low cost and compact automotive fuses mitigating the end use customer requirements.
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Automotive Fuse Market: Dynamics
Macro-economic factors such as GDP impact on sales of commercial vehicles, growing urbanisation, developing infrastructure are driving the automotive industry market growth at broader level. Rising demand for automobiles in countries such as South Korea, Japan, China and India has led automotive parts manufacturers to develop improved systems.
This is driving the demand for efficient automotive parts and thus, fuelling the automotive fuse market growth globally.
In addition, technological advancements to ensure soldering, development of fully insulated clips, use of tin and nickel plated brass contacts ensuring resistance to vibration and shock are leading towards development of advanced automotive fuse, which is thus fuelling automotive fuse market growth. Increasing use of high-power fuses is another factors bolstering the demand for efficient automotive fuses. Also, market for automotive fuse replacement is anticipated to witness significant growth in the near future
Automotive Fuse Market: Segmentation
Automotive Fuse market is segmented on the basis of blade type, size groups and fuse type. On the basis of blade type, the automotive fuse market is segmented into low-profile mini, mini, regular and maxi. The different blade size are classified under different groups such as APS, APM, ATM, APR, ATC, ATO and APX.
On the basis of fuse type, the segmentation includes bosch, blade, lucas, limiter and glass tube. Further the blade type automotive fuses include micro2, micro3, low-profile mini (APS, ATT), mini (APM, ATM), regular (APR, ATC, ATO) and maxi (APX).
Geographically, the automotive Fuse market is segmented into seven regions including Japan, Middle East and Africa, Eastern Europe, Asia Pacific excluding Japan, Western Europe, Latin America and North America. Asia Pacific excluding Japan is expected to remain dominant in terms of part manufacturing owing to factors such as increased vehicle production, cheap labour and large number of part manufacturers in countries such as China and India.
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Automotive Fuse Market – Report Highlights
- A detailed overview of parent market of Automotive Fuse Market
- Changing Automotive Fuse Market dynamics in the industry
- In-depth segmentation of Automotive Fuse Market
- Historical, current, and projected Automotive Fuse Market size regarding volume and value
- Recent industry trends and developments in Automotive Fuse Market
- Competitive landscape of Automotive Fuse Market
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Automotive Fuse Market performance
- Must-have information for Automotive Fuse Market players to sustain and enhance their market footprint
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