Global Automotive Fuse market segments 2024, Forecast To 2033
24 Jan, 2024
The automotive fuse market, having experienced robust growth, is set to ascend from $18.32 billion in 2023 to $19.32 billion in 2024, reflecting a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period is attributed to the increase in vehicle production, safety regulations, growth in the electric vehicle (EV) market, and rapid urbanization. Envisioning substantial growth ahead, the market is poised to reach $23.73 billion in 2028, maintaining a strong CAGR of 5.3%. Drivers for this growth include the rise of autonomous vehicles, economic market growth, the adoption of automotive electronics, and an increase in disposable income. Key trends in the forecast period involve miniaturization, smart fuses, the integration of Advanced Driver Assistance Systems (ADAS), and partnerships and collaborations.
Global Automotive Fuse Market Key Driver
The automotive fuse market is expected to thrive due to the growing need for electronic components in the automobile industry. Between August 2020 and August 2021, semiconductor demand surged by 29.7%, reflecting increased technology integration in vehicles. Advanced technologies such as autonomous systems and onboard computers necessitate a higher volume of electronic equipment. The automotive fuse market's growth is intricately linked to the automotive industry's evolving reliance on electronic components.
Get A Free Sample Of The Global Automotive Fuse Market ReportGlobal Automotive Fuse Market Segments
The global automotive fuse market covered in this report is segmented –
1) By Vehicle Type: Passenger Car, Commercial Vehicle
2) By Fuse Type: Blade, Glass Tube, Semiconductor, Other Types
3) By Voltage: 12 and 24 V, 24–48 V, 49–150 V, 151–300 V, >300 V
4) By Application: Auxiliary Fuse, Charge Inlet Fuse, Battery Fuse, Engine Fuse, Other Applications
5) By Sales Channel: OEM, Aftermarket
By Geography: The regions covered in the Automotive Fuse market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Major Automotive Fuse Industry Players
Eaton Corporation, Littelfuse Inc., Mersen S.A., SCHURTER Inc., SIBA, Sensata Technologies, Carling Technologies Inc., Mouser Electronics Inc., OptiFuse, Anodyne Electronics Manufacturing Corp., Blue Sea Systems, GLOSO TECH Inc., ON Semiconductor, Fuzetec Technology Co. Ltd., Pacific Engineering Corporation, Dongguan Better Electronics Tech. Co. Ltd, Anixter, NTE Electronics Inc., AEM Components (USA) Inc., E-T-A Elektrotechnische Geräte GmbH, Bel Fuse Inc., S&C Electric Company, G&W Electric Company, Mersen S.A., TE Connectivity Ltd., Bourns Inc., Cooper Bussmann, Keystone Electronics Corp., Phoenix Contact, Siemens Aktiengesellschaft, Vishay Intertechnology Inc., Weidmüller Interface GmbH & Co. KG, Würth Elektronik GmbH & Co. KG
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Automotive Fuse Market Overview
An automotive fuse is defined as an electrical component used in automobiles that protects other components, electronics, and cables from damage caused by excessive current flow. All fuses have a rating which refers to the maximum amount of amperage/voltage that the fuse can handle before it fails.
Automotive Fuse Global Market Report 2023 provides data on the global automotive fuse market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automotive fuse market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.