Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
An automotive fuse is an electronic component which is used to protect the devices, wiring and electronic components of the vehicle from over current flow. Generally, the automotive fuse is made for 12v electrical components and sometimes they are designed for 42v electrical components. Automotive fuse resist the excess flow of current that can harm other electrical components. Fuse boxes are used for storage of automotive fuses and their rating depends upon the amount of amperage they can bear before they get fail. Further, automotive fuse comes in different types namely blade, bosch, limiter, lucas and glass tubes. The automotive fuse market players are following a key trend of manufacturing attractive packaging for the automotive fuses. Further, these packaging provide convenient tool for the consumers to select the desirable automotive fuse among many look alike fuses.
The global market of automotive fuses is expected to grow at a CAGR of 7.2% over the forecast period. The global automotive fuse market is expected to witness a robust growth over the forecast period 2017-2024. The market of automotive fuse builds an impregnable column in recent years and is expected to behold positive growth in near future. Moreover, the global market of automotive fuse is anticipated to reach at revenue of USD 16.1 Billion at the end of the 2024.
Geographically, Asia Pacific is expected to dominate the overall market with the highest CAGR of 8.5% during the forecast period. Further, developing economics such as China, India etc. have boosted the automotive fuse market with their high demand in automobile sector as well as automotive fuse sector. Likewise, Hong Kong, Malaysia, Taiwan, South Korea automotive fuse market is expected to grow over the forecast period. Over the past few years, it has been observed that North America region is expanding their manufacturing production and with its growing economy, it is expected to have remarkable revenue among all regions over the forecast period 2017-2024. Further, this can be attributed to the rapidly increasing penetration of the advanced technologies in this region. CLICK TO DOWNLOAD SAMPLE REPORT
Our-in depth analysis of the global automotive fuse Market includes the following segments:
Global automotive fuse market is further classified on the basis of region as follows:
Economic factors such as GDP impact, increasing purchasing power of the consumers have given boost to automobile market and overall sales of the vehicles. Other factors such as urbanization, developing infrastructure, improving life style of the consumers are the key element driving the global automotive fuse market at international level. Apart from this, rising demand for automobiles in developing economies has given opportunities to the automotive parts manufactures to grow along with the growth of the automobile sector. Further, these factors are driving the demand for automotive parts, thus propelling the market of automotive fuse globally.
Apart from this, the technological advancements such as, improved soldering qualities and development of fully insulated chips, use of tin and nickel plated brass contacts; to ensure proper resistance to the shocks and vibrations have led towards the use of advanced automotive fuses. However, presence of local vendors in market has affected the overall revenue of the global market. Further, low cost offering by the local vendors is reducing the market share of organized players.
Overview of the Parent Market
Analyst View
The global automotive fuse market is segmented as follows:
Market Dynamics
Supply & Demand Risk
Competitive Landscape
Porter’s Five Force Model
Geographical Economic Activity
Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio
Recent Trends and Developments
Industry Growth Drivers and Challenges
Key Information for Players to establish themselves in current dynamic environment
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