PUNE, India, February 21, 2018 /PRNewswire/ --
The report "Automotive Fuse Market by Fuse Type (Blade, Glass Tube, Semiconductor), BEV & Hybrid Vehicle Application, Voltage, Amperage, Motor Output, Battery Capacity, ICE, EV & Mild Hybrid Vehicle, Aftermarket, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the market, by value, is projected to grow at a CAGR of 6.84% from 2017 to 2025, to reach USD 24.33 Billion by 2025 from USD 14.33 Billion in 2017. Factors such as rising focus on increase in vehicle electrification, safety & comfort features in mid-segment vehicles and increasing sales of electric vehicles are, together, projected to fuel the demand for Automotive Fuse Market.
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"40-100A Automotive Fuse Market estimated to be the largest market among the ampere segments"
The fuses in 40-100 A segment are used in engine-related electrical circuits, low voltage charge inlets, and low-power traction motor-related circuits as this application are largest in number hence the market is estimated to be the largest market. <40 A Automotive Fuse Market is estimated to be the second largest market, which is mostly used in the auxiliary circuits of ICE and electric vehicles. They are also used in the power control unit (PCU) and onboard charger circuits. The majority of the <40 A fuses are blade fuses. In an ICE vehicle, there are more <40 A fuses than those of another amperage.
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"24-48V fuse market to grow at the fastest pace in the Automotive Fuse Market by voltage"
The segment considers mild-hybrid vehicles using 48V architecture. The Automotive Fuse Market for 48V is at a nascent stage. However, the market is expected to grow in the future as to abide to increase in fuel efficiency demands & decreased emission limits, there will be an increased need for vehicle electrification, which would require 48V architecture to support the electrical systems. The >300V segment is estimated to have the second fastest market owing to increasing sales of BEV and PHEV as all the BEV and most of the PHEV are equipped with >300V system architecture. The number of battery fuses used in BEVs and most PHEVs is higher due to the use of high capacity batteries in these vehicles.
"Asia Oceania is estimated to be the largest market owing to increase in vehicle safety and comfort features"
The Asia Oceania region is estimated to be the largest Automotive Fuse Market during the forecast period by value. The market growth in the region can be attributed to the high production as well as sales of vehicles, increase in demand of vehicle safety & comfort features and upcoming government mandates on safety features such as airbags. Also, factors like increasing demand for premium hybrid and plug-in hybrid electric vehicles, in countries like China & Japan, which has higher vehicle electrification which leads to increase in the number of fuses.
The key companies profiled in the study are Eaton (Ireland), ON Semiconductor (US), Littelfuse, Inc. (US), Sensata Technologies, Inc. (US), MERSEN S.A. (France), Pacific Engineering Corporation (Japan), SCHURTER Holding AG (Switzerland), OPTIFUSE (US), AEM Components (USA), Inc. (US) and Fuzetec Technology Co., Ltd. (Republic of China).
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