Automotive Fuse Market to Witness Steady Growth through 2024

Fuses for automotive are used to protect various components, electrical circuits, and switches from fluctuating current and power flows. They are generally rated for circuits with voltage lower than 32 volts direct current (DC). Fuse having non-automotive application are used for 42-volt electrical systems.

Among all electrical devices in a vehicle, fuse units have the highest usage and demand. This can be ascribed to the rise in demand for vehicles with advanced technological features. Automotive manufacturers are increasing the production of such vehicles in order to meet the rising demand from consumers. Furthermore, rise in fuel prices and environmental concerns are accelerating new inventions in the automobile sector. Production of environmentally electric vehicles is on the rise. Fuses have major applications in electric vehicles and vehicles with more integrated electronic features. In order to increase the safety level of automobiles, manufacturers are focusing on use of advanced technology features associated with sensors, which are powered by fuses. Availability of two different fuses in one pack meets customer need for broad vehicle range and compact packaging.

The global automotive fuse market can be segmented based on fuse type, electric vehicle, vehicle type, voltage output, application, motor output, battery capacity, ampere, sales channel, and region.

Based on fuse type, the global automotive fuse market can be classified into blades and three other types. The blade segment is likely to expand at a moderate pace owing to its particular application and design.

In terms of electric vehicle type, the automotive fuse market can be categorized into battery electric vehicle and hybrid electric vehicles (HEVs). In electric vehicles, power electronic takes direct current (DC) electricity from the battery and converts it to alternating current (AC) electricity and sends it to the motor. The electric motor uses the AC current to create torque (mechanical power) to power the wheels for propulsion. HEVs use two electrical machines: one as a generator connected to the engine and another as a motor to drive the wheels. Each of these machines is connected to an inverter, and the two inverters run at a higher voltage than the battery.

Based on vehicle type, the automotive fuse market can be classified into passenger vehicles (PV) and commercial vehicles (CV). Passenger vehicles include hatchback cars, sedans, multi- purpose vehicles (MPV), and sport utility vehicles (SUV). Commercial vehicles include light-weight commercial vehicles (LCV) and heavy commercial vehicles (HCV). The passenger vehicles segment is likely to hold a significant market share due to higher production of passenger vehicles compared to commercial vehicles.

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In terms of voltage output, the automotive fuse market can be divided into 12 V and four others. 12 V fuses are used in less power consuming electric devices.

Based on application, the automotive fuse market can be segmented into engine and five others. As engine maintenance is important and can be achieved by controlling emission, the engine segment holds a prominent share of the automotive fuse market.

In terms of motor output, the automotive fuse market can be segmented into less than 80 kW and two others.

Based on battery capacity, the automotive fuse market can be classified into less than 30 kWh and three others.

In terms of ampere, the automotive fuse market can be categorized into less than 40 A and three more.

Based on sales channel, the automotive fuse market can be segmented into original equipment manufacturer (OEM) and aftermarket. Most consumers prefer local manufacturers in order to replace the fuse, which reduces the replacement cost. The aftermarket segment is expected to dominate the automotive fuse market during the forecast period.

In terms region, the automotive fuse market can be segmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World (ROW). Asia Pacific accounts for a dominant share of the global automotive fuse market as the countries in this region such as China and India are more populous, and they have started adopting advanced technology recently. Countries in Latin America such as Brazil are focusing on new technology vehicles. Several leading automotive manufacturers are from North America and Asia Pacific, and they contribute the economies of the countries through the electronics industry.

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Some of the key players in the automotive fuse market are ON Semiconductor, Littelfuse, Inc., MERSEN, Pacific Engineering Corporation, Eaton, SCHURTER Holding AG, OptiFuse, and EM Components (USA), Inc.

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