The Automotive Fuse Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Automotive Fuse Global Market Report 2024, The automotive fuse market size has grown strongly in recent years. It will grow from $18.32 billion in 2023 to $19.32 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to increase in vehicle production, safety regulations, growth in the electric vehicle (ev) market, rapid urbanization.
The automotive fuse market size is expected to see strong growth in the next few years. It will grow to $23.73 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to rising autonomous vehicles, economic market growth, adoption of automotive electronics, rising disposable income. Major trends in the forecast period include miniaturization, smart fuses, integration of adas, partnership and collaboration.
The growing need for electronic components in the automobile industry is expected to drive the growth of the automotive fuse market over the coming years. With the growth of technology, there is an increase in the implementation of new electronics in automobiles. New technologies such as autonomous technology, self-driving systems, and the onboard computer that controls a wide range of functions such as vehicle temperature, GPS, and even exhaust emission, require a lot of new electrical equipment to work. For instance, in November 2021, according to Wired Magazine, a US-based magazine, demand for semiconductors grew 29.7 percent between August 2020 and August 2021. Therefore, the growing need for electronic components in the automobile industry is driving the growth of the automotive fuse market.
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The 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
Improved quality and development of fully insulated chips are providing an opportunity to expand the use of automotive fuses. This can be attributed to the fact that better quality fully insulated chips will be more powerful and energy-efficient which implies a wider user base. For instance, in September 2022, Novosense Microelectronics Co Ltd., a China-based manufactures and sells integrated sensor chips, isolation and interface chip, launched a collection of automotive-qualified chips NOVOSENSE automotive-qualified LDO NSR31/33/35 family chips are specifically developed for use in systems powered by vehicle batteries. They are excellent for automotive applications requiring high standby power consumption due to their ultra-low static power consumption of 5uA and low drop-out voltage.
The automotive fuse market report table of contents includes:
1. Executive Summary
2. Automotive Fuse Market Characteristics
3. Automotive Fuse Market Trends And Strategies
4. Automotive Fuse Market – Macro Economic Scenario
5. Global Automotive Fuse Market Size and Growth
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26. South America Automotive Fuse Market
27. Brazil Automotive Fuse Market
28. Middle East Automotive Fuse Market
29. Africa Automotive Fuse Market
30. Automotive Fuse Market Competitive Landscape And Company Profiles
Top Major Players:
- Eaton Corporation
- Littelfuse Inc
- Mersen S.A.
- SCHURTER Inc
- SIBA
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