Acumen research and consulting estimates that the global automotive fuse market is anticipated to reach market size of around US$ 25,000 Mn by 2027 and is anticipated to grow at a CAGR of around 7% in terms of revenue during the forecast period 2020 – 2027. An automobile fuse is a kind of bonding system used to secure electrical and vehicle wiring. For circuits with a direct current greater than 24 volts, automotive fuse is usually tested or used, except for some 42 volt electrical systems. Five diverse forms of car fuses exist: sword, bosch, plate, lucas and glass piping. Of the different amperes ratings ranging from two amperes, three amperes, four amperes, five amperes to 120 amperes, automobile fuses style blades shall be used. There is also a color coding used for blade fuses classified by different ampere ratings. For instance, a single ampere black is labeled, similarly with 35 ampere black green and 120 ampere purple is marked.
Macroeconomic considerations such as GDP effects on commercial vehicle purchases, rising urbanization and infrastructure construction fuel a broader market expansion of the automobile industry. Higher vehicles demand has driven car parts suppliers to build advanced structures in countries such as South Korea, Japan, China and India. This boosts demand for productive car parts and thus fuels the rapid development of the automotive fuse market. In order to ensure soldering, developing fully insulated clips, the use of tin and nickel plated brass contacts ensures shock and vibration resistance, advanced automobile fusible are developed, fueling the market growth for automotive fuse. Another factor that reinforces the demand for efficient car fuses is increased use of high-power fusion. The car fuse replacement demand is also projected to rise significantly in the near future.
The automotive fuse industry can be categorized into passenger (PV) and commercial (CV) vehicles depending on the type of vehicles. Included in passenger vehicles are hatchback cars, sedans, Multi-Purpose Vehicles (MPVs) and SUVs. Light-size commercial vehicles (LCVs) and heavy-duty vehicles (HCVs) are part of commercial vehicles. As a result of increased passenger car production compared to commercial vehicles, the passenger car segment is likely to have a significant market share. Over the forecast period the 24-48V market is expected to rise at the fastest rate. In this segment, all light hybrid vehicles (48V) are considered and, because of their low-emission advantages, are estimated to have a fair market share in future. Thanks to the largest sales of 12 and 24 V system architecture ICE cars, the 12 & 24V market is expected to have the biggest share of this segment.
Asia Pacific region is expected to dominate the market in future due to an increase in production of passenger and commercial vehicles. Due to the availability of cheap labor and increased demand for vehicles, the car manufacturers invest heavily in this region. When the need for vehicles rises, automobile fuse is used steadily, such that the market continues to be powered. The second largest region in this market in North America is projected to rise during the forecast period.
In the analysis are also profiled along with their SWOT analysis and competition strategies, major players in the automobile fuse industry shaping the competition. This report focuses also on leading players in the industry, including information on company profiles, products and services, financial information for the past three years and key developments over the last five years. Major players included in this report are Littelfuse, Inc., Eaton Corporation Inc., MERSEN S.A., SIBA, Sensata Technologies, Inc., SCHURTER Inc., Carling Technologies Inc., OptiFuse, Panduit Corp, Mouser Electronics, Inc., AEM, Inc., GLOSO TECH Inc., Anixter Inc., Blue Sea Systems, Dongguan Better Electronics Technology Co. Ltd., NTE Electronics, Inc., and others. Automotive fuse manufacturers focuses on low-cost production and compact car fuses which minimize end user requirements of customers.
The global automotive fuse market is segmented as below:
Automotive Fuse Market By Vehicle Type
Light Commercial Vehicle
Heavy Commercial Vehicles
Mild Hybrid Vehicles (48 V)
Automotive Fuse Market By Fuse Type
Automotive Fuse Market By Voltage
12 & 24 V
Automotive Fuse Market By Application
Charge Inlet Fuse
Onboard Charger Fuse
Traction Motor Fuse
Automotive Fuse Market By Geography
Middle East & Africa
The market value of automotive fuse is anticipated to be around US$ 25,000 Mn in 2027.
The demand for high voltage architecture, vehicle comfort, and safety, availability of two fuses in one packaging, increasing vehicle electrification is expected to drive the growth of the automotive fuse market.
It is anticipated to grow around 7% CAGR amid the forecast period.2020-2027
Littelfuse, Inc., Eaton Corporation Inc., MERSEN S.A., SIBA, Sensata Technologies, Inc., SCHURTER Inc., Carling Technologies Inc., OptiFuse, Panduit Corp, Mouser Electronics, Inc., AEM, Inc., GLOSO TECH Inc., Anixter Inc., Blue Sea Systems, Dongguan Better Electronics Technology Co. Ltd., NTE Electronics, Inc. and others are the prominent players in the market.
The very limited development in the field of low voltage fuse is a major factor expected to restraint the growth of the market.
Asia Pacific is projected to grow at a fast pace during forecast period from 2020-2027.
Asia Pacific held maximum share in 2019