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AUTOMOTIVE & TRANSPORTATION

Automotive Fuse Market : Global Demand Analysis & Opportunity Outlook 2024

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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Automotive Fuse Market Overview

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.

Market Size & Forecast

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.

automotive fuse

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

 Market Segmentation

Our-in depth analysis of the global automotive fuse Market includes the following segments:

By Product Type

  • Plug-in Fuses
  • Cartridge Fuses
  • Cable Fuses
  • PAL Fuses
  • Glass Fuses
  • Others (Specialty Fuses, High Current Fuses)

By Voltage Level

  • Low Voltage Fuses
  • Medium Voltage Fuses
  • High Voltage Fuses

By End-User

  • Original Equipment Manufacturer (OEM)
  • Aftermarket

By Regions

Global automotive fuse market is further classified on the basis of region as follows:

  • North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers & Challenges

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.

Key Players

  • Eaton Corporation Inc.
    • Company Overview
    • Key Product Offerings
    • Business Strategy
    • SWOT Analysis
    • Financials
  • Littlefuse Inc.
  • MERSEN S.A
  • SCHURTER Inc.
  • SIBA
  • Sensata Technologies Inc.
  • Carling Technologies Inc.
  • Mouser Electronics Inc.
  • Optifuse Panduit Corp.
  • AEM Inc.
  • Blue Sea Systems
  • GLOSO Tech Inc.
  • Anixter corp.
  • Dongguan Better Electronics Tech. Co. Ltd
  • NTE Electronics Inc.

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global automotive fuse market is segmented as follows:

  • By Product Type Market Size & Y-O-Y Growth Analysis
  • By Voltage Level Market Size & Y-O-Y Growth Analysis
  • By End-User Market Size & Y-O-Y Growth Analysis
  • By Region Market Size & Y-O-Y Growth Analysis

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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