Pune, India, April 08, 2019 -- /360iResearch/ -- The report "Global Electric Fuse Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q1 2019 Update)", published by 360iResearch, states that the global market was valued at USD 3.19 billion in 2017 and is projected to reach USD 3.96 billion by 2024, growing at a CAGR of 3.15% from 2017 to 2024.
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The major forces driving the growth of the electric fuse market include the increasing safety awareness related to short circuits and damage due to power fluctuations and increasing investments in renewable and energy storage. Moreover, increasing investments in t&d infrastructure plans and reinforcement of investments in the construction sector are also some of the factors that are driving the market growth. However presence of substitutes such as mcbs, mccbs, and relays in the market, and growing investments in smart grid vision may hinder the market growth. In the middle of difficulty lies opportunity such as the upgrading of feeder line protection and existing substations, and performance-based incentive schemes and definite service programs. The possible challenges for the market growth is adjournments in grid expansion projects. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on type, the global electric fuse market is studied across Cartridge & Plug Fuse, Distribution Cutout, and Power Fuse & Fuse Link. Based on voltage, the global electric fuse market is studied across Low Voltage, and Medium Voltage. Based on end user, the global electric fuse market is studied across Commercial, Industrial, Residential, Transportation, and Utilities. Based on geography, the global electric fuse market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the electric fuse market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are ABB, Bel Fuse, Eaton, G&W, Hubbell, Legrand, Littlefuse, Mersen, S&C Electric Company, Schneider Electric, Schurter, and Siemens.
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